Vaultie

Five Ways Digital Signatures Make Your Business Better

Even though the business world is unrecognizable from what it was just a generation ago, there are still too many antiquated traditions that remain intact. Typewriters have been replaced with laptops, desktop Rolodexes now exist in the digital cloud, and reaching someone by telephone is almost considered an annoyance for both parties compared to sending an email. 

Yet for all that innovation, there are still gaps in technology. Too many companies, from the corporate world to law firms to other transactional environments, still believe in the power of paper.  Lawyers, especially, can be among the worst offenders. They might type dozens or even hundreds of pages’ worth of documentation on their computer, but when it comes time for clients to sign documents, outcome the industrial-strength printers and boxes of corporate-branded pens. 

Yes, there will always be a utility for paper amongst those who do not have internet access; or those with a disability where a physical copy may be beneficial. However, in most cases, the need to do a deal on paper has all but been eliminated. Computers have made it easier to draft documents, easier to revise and edit those documents, and easier to exchange them with those who need to receive them next. 

The last remaining piece for ‘paper purists’ was the signature. Despite adjusting to lengthy typed documents, there remained a popular belief that a signature in blue ink was the surest way to authenticate a party’s acceptance of terms. Now though digital signatures have changed the game there as well - not only are they easier for all parties, but they can provide an even greater guarantee of authenticity than any ballpoint pen.

Here are five ways that digital signatures can help make your business better:

  1. They’re convenient. There are few things less convenient than taking time off of work to get to a lawyer’s office across town in rush hour traffic to go and sign a document. Digital signatures have eliminated that headache. Users can sign a document from their mobile device practically anywhere, without interrupting the flow of their day. 
  2. They’re easy. Digital signatures are not just easy for the end-user, but they are also easy to implement into your business. You’re not going to have to overhaul your filing system, buy more cabinets, or waste a fortune on making multiple copies. Better still, your clients don’t have to deal with the logistics of coming to see you - you’ll be able to provide them exceptional service right from the convenience of their home, or anywhere they are at that moment. 
  3. They’re secure. Digital signatures, especially when supported by a scan of photo ID or some other biometric identification, are far more secure than a simple pen and ink signature. That secondary identification piece, combined with additional security measures, can confirm that the person signing on the screen is the correct individual. Even if someone brings a photo identification to the office that looks like them, it is always difficult to tell with 100% certainty that they are the intended party. 
  4. They’re inexpensive. Even though paper was thought of as easily disposable for generations, there is still a high cost to paper signatures. Those paper, printing, and labour costs are often passed onto customers and clients and are all easily avoidable. Whether it’s the cost of the signatory having to take time to sort through mountains of documents, or the cost of a clerk or assistant sorting and indexing documents to prepare them for signature, those costs are all avoidable by moving to a digital platform. 
  5. They’re fast. It may sound obvious, but digital signatures are almost instantaneous and can be exchanged at the simple click of a button. Even if a lengthy document was signed in counterparts (without having to have one fully executed copy), it was rarely immediate to have all parties signing on the same day at the same time. Now signatures are instantaneous, which can eliminate any delays in finalizing a transaction.

At Vaultie we’ve been focusing on making digital signatures as safe and secure as possible, all without sacrificing that ease of use. Our product keeps digital signatures secure by using a combination of identity verification technology and blockchain. This ensures that the document you send out for signature goes to that exact person (and only them!) and that the signer’s ID is verified in real-time to confirm that they are who they say they are. 

While being face-to-face with a signatory may once have seemed like the safest method of signing documents, Vaultie has opened up a world of possibilities. Contact us today to learn more about how to integrate Vaultie seamlessly into your business.