Think for a moment about the number of contracts your organization has on hand, be it new or archived. There are, of course, contracts between employees, contractors, and volunteers, as well as vendors and suppliers, add them all up and you’re likely dealing with thousands of contracts. When you consider the need to create, review, and renegotiate every document that comes across your desk, not to mention the timely nature of contracts, managing contracts can be quite the job. This is why it’s essential to have all the tools you need to help you streamlining and automating contract lifecycles at your organization.
E-signatures may sound pretty simple–or like an unnecessary luxury–but the truth is, it is essential for creating a seamless, worry-free contract process. Here are 3 reasons, e-signatures are a need to have, not a nice to have.
It may not seem like a big deal, but in today’s fast-paced, modern world, having someone print out, sign, scan and send a document back to you may not be unreasonable, but your expectation of getting back in a timely manner definitely is. These time-consuming tasks are the type that burns a hole in our to-do list, filed under “must-do, but maybe a little later.” E-signatures allow for documents to be signed and sent back to you with a few clicks of the mouse. Simple, easy, and most importantly, quickly.
When it comes to contracts, time can sometimes be of the essence. When there are so many moving parts to a contract, from amendments to approvals, it’s essential to have the tools in place to ensure timely actions to move things along promptly. Getting the sign-off from anywhere at any time is just as crucial as crossing your T’s and dotting your I’s.
We’ve heard concerns about the security of having documents live on servers. However, we argue that this method is perhaps more secure than having hard copies floating around. Having a secure version online with time stamps for upload time, activity, and e-signature sign-offs helps protect all parties from forged documents, in case of litigation.
At the root of all innovation is the need to solve problems. It is what drives us as a society forward. And as we move towards modernity, it’s important that we welcome the technology that has been created to help improve processes and make our lives easier. E-signatures may not seem like a big deal, but in the end, offers a fast, convenient and a secure means to an end that only, as far as we can tell, helps improve the contract lifecycle process.