Organizations in every sector look for ways to improve their workflow processes, save costs, and reduce waste. Investing in electronic signatures is a safe and economical way to achieve the above. Let’s look at some of the industries which can benefit from this signature option.
These industries must use electronic signature software
1. Construction and engineering industry
Usually, projects in the construction and engineering industries need to be completed on time. Slight delays may lead to unnecessary additional costs. The problem is that sending contracts of 150 pages or more, as well as coordinating with tens of engineers, contractors, zoning officials, and construction teams, can be quite overwhelming and time-consuming. To cut the time needed to complete such a transaction, opt to communicate and create an electronic signature online.
Additionally, storing documents such as subcontractor agreements, purchase orders, quotes, and work contracts in a centralized location can make it easier for construction project managers to track who has signed (and not yet signed) a particular contract.
2. Accounting and tax
Create electronic signatures fast for all contracts that require speedy execution. Whether you are signing a confidentiality agreement, or an asset purchase agreement, or helping clients form an LLC, e-signatures provide a convenient, legal option to capture the client’s consent.
- Independent contracting agreements
- Employee contracts
- RS Forms
- Letters of consent
3. IT and Cybersecurity
Organizations dealing with digital security should always “walk their talk.” Embracing e signatures is one way to guarantee promised information efficiency and security. Using online signature software also saves you money on mailing, faxing, or coordinating in-person meetups, to sign contracts. People can access and sign documents at any time, from anywhere, provided that they have internet and a mobile device or computer.
4. Financial services sector
Speed up loan requests, reimbursement forms, opening accounts, and investment applications with electronic signatures. E-signatures are similar to wet ink signatures, except that they are quicker, cleaner, and more secure.
- Loan applications
- Good faith estimates
- Mortgage services
5. Marketing industry
Whether you are signing up for trade shows, sponsoring media events, managing vendor agreements, or signing media agreements, electronic signatures can help you securely and quickly sign all your paperwork while storing them in one safe place for easy retrieval.
6. Government sectors
E-signatures present both local and federal governments with various ways to streamline paper-heavy workflows, eventually saving money and making constituents much happier:
Increase compliance with seamless signatures for:
- Citizen business forms
- Internal Agreements
- Housing Documents
7. Insurance industry
The high instance of signatures in the insurance sector makes them prime candidates for electronic signatures. Clients must sign contracts to begin or renew coverage. Thanks to electronic signatures, this can be done from anywhere, at any time, significantly easing the work of insurance professionals.
In other words, guaranteeing convenience for their clients is something every insurance firm would like to do, and e-signatures allow them to successfully achieve that.
8. Healthcare sector
Life sciences and healthcare medical sectors are subject to strict HIPAA esignature federal privacy laws that protect personal information . Laws concerning secure document storage, privacy, acceptable forms of e-signatures and e-documents have always been a significant concern. E–signatures that conform to federal laws not only heightens document security but also improve compliance.
Managing contracts for patients, vendors, physicians, employees, and partner organizations efficiently is a critical aspect of successful healthcare organizations. Online signature software is also an excellent tool for:
- Medical device manufacturers
- Pharmaceutical companies
- Clinical studies
9. Real estate industry
Real estate professionals usually need tons of contracts signed by their customers, and most of the time, agreements must be signed on time; within 24 hours. Otherwise, they risk being edged out by a more tech-savvy competitor with more compelling offers.
Meeting a twenty-four-hour deadline while depending on traditional signatures usually translates to inconvenient meetings, a lot of driving, and stress. E-signatures are secure for customers to sign and send from the comfort of their homes. Real estate representatives can reclaim time otherwise lost traveling from one city to another, and use it for hunting other prospective clients.
10. Higher education sector
With thousands of employees and students to track, electronic signatures could speed up operations in all departments, including:
- Office of the registrar
- Financial aid
- Campus living
- Campus dining
- Business office
- Supplier agreements
11. Nonprofit organizations
Regulate donor relations, patrons, and volunteers within NGOs. Digital record keeping helps you keep track of contracts relating to donations, patrons, and volunteers. Use online signature software to capture consent involving everyday events and necessities. Mobile-access comes in handy in this industry as you get documents signed from anywhere.
12. The legal industry
Usually, attorneys have to deal with a lot of contracts on behalf of their clients. These contracts and agreements typically take time to sign. Sometimes, clients find themselves making countless visits to the attorney’s office, to sign and make unending revisions to contracts. With e-signatures, clients can effortlessly sign the contracts from the convenience of their offices or homes, saving them a lot of time that could have been used in other important engagements.
13. Retail industry
Retail clients like supermarkets, shopping malls, or online stores, use electronic signatures daily when dealing with suppliers, vendors, employees, and customers, to streamline their operations.
14. SaaS industry
Software as a service is currently a thriving industry with millions of users daily. Full disclosure of user agreements is expected before clients can use a particular software product. SaaS companies must ensure these policies are made evident not only on the front-end but also on the back-end. Electronic signatures allow for a secure signing experience.
- Full transparency
- Digital fingerprint
- Digital record keeping
- Total online contract management
- Mobile-first technology
Electronic signatures are a reliable and economical alternative to conventional contract signatures. As you might have realized, e-signs works perfectly for any industry/sector in which signatures are required, and there are a lot of agreements and contracts to sign. They are very easy to implement, and vital business records can be more easily filed for future retrieval. Thus, any industry or business wishing to succeed in this digital era has no choice, but to adopt the use of electronic signatures in its operations.3