An e-signature, sometimes spelled esignature and short for electronic signature, is defined as any electronic means that shows a person agrees to and accepts the contents of an electronic message. It can also refer to the “signature” of a digital message made by the person who wrote it. E-signatures can be as simple as a typed named or a written signature on technology that can digitize that signature.
Because e-signatures provide people with the ability to sign electronic documents from anywhere at any time, as long as they are provided with the technology to do so, they have grown in both popularity and use.
Industries adopt e-signatures to speed business transactions
Many industries are adopting e-signature software solutions to reduce their reliance on expensive, paper-driven processes. Nearly 30 billion paper documents are copied or printed by U.S. companies in any given year, according to a study conducted by Adobe.
The same study estimates the average cost per paper-based signature at $6.50. And with the average authorized employee signing 500 documents a year, that amounts to $3,250 annually.
E-signature software can help reduce that cost and, with the right solution, reduce risk associated with lost documents and compliance, too.
- Safe and secure. E-signature solutions eliminate the risk of fraudulent document alteration and guarantee your signed documents remain protected.
- Easy to track. Efficiently track electronic acknowledgements of documents and, if need be, ensure you are complying with evolving local, state and federal regulations.
- Boost your bottom line. Reducing your dependence on paper-driven processes will have a positive effect on your cost to do business.
How the OnBase e-signature software integration helps organizations meet these goals
Combining OnBase enterprise content management (ECM) with an electronic signature platform creates an end-to-end solution for managing documents that require signatures.
OnBase electronically captures documents and information, storing them all in an easily accessible, central location. Your employees immediately find the information they need, so they can focus on customers and members. Combining e-signatures and OnBase, you shorten the revenue cycle and reduce the cost and risk of paper-driven processes.
Using e-signatures also ensures you complete every initial and signature in one meeting, so customers and members don’t have to make repeat trips to complete a single transaction. Employees make better use of time, as well. They don’t have to comb through documents to make sure they’re 100 percent accurate and complete – improving productivity.