While some documents, such as those for the UK’s Land Registry, still require a wet ink signature, most important paperwork can now be completed with electronic document signing.
There are several benefits to using this cutting-edge option, but perhaps its most attractive feature for firms is how it can save them a fortune. In this blog, we’ll highlight how companies can take advantage of this innovative solution to reduce their operational costs on a day-to-day basis, while also sidestepping fines that can add up to millions.
Signing documents electronically negates any need for the rental costs or outright purchase of a printer, as well as the necessary supplies and services associated with it – these include paper and toner cartridges, as well as routine maintenance. Electronic document signing involves contracts and invoices being sent over the internet instead of by post. As a result, there are no expenses for enterprises in terms of couriers, special delivery services, postage, and stationery.
Time is money
Electronic document signing can speed up your business workflow and enhance team productivity. It allows firms to operate up to 80% faster as documents can be completed far more quickly and can easily be tracked by administrators. This help firms by allowing them to get more value from the hours their people work, potentially adding up to substantial profits.
Perhaps the biggest saving electronic document signing solutions can offer is the enhanced data security that comes with them. When a document is being exchanged and signed, it is first encrypted with multi-layer protection. Only the document sender and its recipient can view the content and anyone seeking access will need to prove their identity. If anyone without appropriate authorisation attempts to tamper or access the document, an alert will be raised and any changes recorded.
If a document contains sensitive information and is compromised, data regulators can fine companies millions if they judge them to have acted with negligence. However, by employing electronic document signing supported by end-to-end encryption, businesses can avoid these weighty fines by proving they took sufficient steps to secure the data they use.
Electronic document signing can not only prove compliance, but it is also accepted as admissible evidence under UK law.
Do you need an electronic document signing solution?
Whether you are in charge of information security for a business, a university or a local authority, if you need a modern electronic document signing solution, you can count on Galaxkey. We have devised a user-friendly tool that allows you to complete important documents at any time, from any place and on any device.
Every time you use our solution, your document will benefit from three-layer data encryption that has been approved by the UK’s National Cyber Security Centre (NCSC) and is based on the onion model, recommended for US Government use.
Get in touch with our expert team today to get started.