As the world continues to migrate to a more digital way of life, it’s no surprise that digital document signing is becoming a popular way of closing deals, hiring employees and even purchasing assets.
However, as popular as it may be, there are still a few misconceptions about the digital document signing process making its rounds. And this may have a select few hesitant or set against the method of online signing.
The truth is, digital document signing is the future. And the sooner you get on board, the better. But of course, some still need a bit more convincing. So, we’re here to debunk four of the most common myths about electronic signing. And then you can finally stop using traditional signing methods, save time, save money, and help the environment by saving trees.
Myth 1: Electronic Signatures Are Not Legally Binding
Just because it isn’t on paper, doesn’t mean it’s not legally binding. This myth is one of the first to debunk because it’s the biggest concern for those hesitant to use digital document signing.
Electronic signature software collects data to ensure the person’s identity and captures the signer’s legal intent. Nowadays, the signer can tick a box, type their signature or even give voice authorisation.
3 Things That Make an Electronic Signature Legally Binding:
1. Identifiers that link the signer to their signature.
2. The signer is the only one with control over their identifier.
3. The electronic signature software must pick up if any data has been altered, and if so, void all invalid signatures.
Although you can sign about 99% of legal documents online, there are a handful of outliers. These are usually documents that must have witnesses or notarised signatures, such as property transactions and wills.
Myth 2: The Only Way to Close a Deal is Face-to-Face
Another common myth about digital document signing is that they delay business processes and agreements, which is far from true. In fact, electronic signatures help you close your business deals from anywhere, using any device, and in a flash compared to traditional pen-and-paper methods.
Any amendments in the agreements or contracts are easy to do, and you eliminate the time-consuming process of printing, sending, editing and resending. And you can track all the changes to your documents to use for future reference.
Electronic signature software allows for the quick and efficient set-up of contracts and other necessary documents. And you can stay in the loop with the click of a button by keeping track of the signing process and its progress in real-time online.
This allows you to close more deals in less time than what you would with traditional paperwork. In fact, data suggests that proposals are more likely to close when signed with electronic signatures — and that they are a done deal a lot faster when compared to conventional paperwork.
Myth 3: Electronic Signatures Are Not Secure
It’s understandable why many people still think that an ink signature is more secure than an electronic one. By ‘secure’ we mean, no one can tamper with or change the contents of a traditional, signed printed contract. However, electronic signature software helps you keep track and prevent this issue too. Once you start thinking about it, it’s a lot more secure in many ways.
If anyone makes any alterations or additions to an already-signed document, most electronic signature software will wipe out the previous signatures. And then, both signers will have to sign the newest version of the document.
This prevents forgery and changes from being made to a document that was already previously signed. And with secure digital document storage and backup, all your signed documents are stored safely in the cloud.
At Agreeable, we use Microsoft’s Azure data centre, which is certified as ISO 270001 compliant. You can rest assured that all data is encrypted and that we comply with GDPR and all other regulatory requirements.
Myth 4: Using Electronic Signature Software is Time-Consuming
There couldn’t be a more important myth about digital document signing to debunk. If you’re still using the traditional method of physically signing and organising paper documents, we want to give you a little something to think about.
Consider all the different types of documents you use and that are necessary to operate your business. Then, think about the costs involved to print, mail, reprint and mail once more. These are unnecessary expenses that you can quickly eliminate through the use of digital document signing.
By doing this process electronically, you can use the time usually spent on filing and organising paperwork on actually closing deals and growing your business.
Why Do Digital Document Signing With Agreeable
Our online signing app allows you to sign digital documents that are legally binding, safe and secure. We provide a free and simple way to get your documents signed and stored, so there is no longer a need for the traditional method of signing and filing paperwork in this modern-day and age.
If you’re still unsure whether digital document signing is the right move for you or your business, take a look at our FAQ or contact us today. We’ll help you sign all your agreements in seconds with our online signature software.