There are a lot of misconceptions about eSignatures; some rumors say they aren’t legally binding or that using online signature platforms creates extra work for users. What’s true? What’s not? Let’s clear the air by getting down and dirty with these common questions.
If you ever have a reason to defend someone’s acceptance of any contract in court, an eSignature is just as legit as any other signature. The only catch is that you must track when and where the contract was signed as well as who accepted it. You’d have to validate any other signature anyways, so this signing format is great because recordkeeping is automated for you!
"[S]ignif[ying] agreement[s] by clicking on a box on the screen" is "common in Internet commerce." Treiber & Straub, Inc. v. UPS, 474 F.3d 379, 382 (7th Cir. 2007). Clickwrap agreements are a completely legal form of online signing and can even be built into your site.
When executing online contracts and agreements, as long as users are notified and prompted to provide their permission as such before moving forward, their online consent is good as gold--even without a squiggly line.
There are actually lots of things that count as an eSignature--not just squiggly lines! Clicking boxes that say “I agree” or even checking a box is just as good as that traditional, squiggly signature we are all used to.
Implementing a signature acceleration platform should simplify your sales cycle. If it does anything but that, you should be asking yourself if it is worth your time. For example, gathering signatures via PactSafe’s signature acceleration platform is as easy as sending an e-mail; select contract, select recipient, send! Online signature platforms should be simple, providing legal teams with docs at their fingertips, and sales teams with the tool to send contracts and acquire signatures easily. If this isn’t the result of your company using an electronic signing platform, consider switching providers. Setting up and manipulating your signature platform should be as easy as using Google Docs.
According to IDC research, mobile technology is taking over and 80% of the full-time workforce leverage a smartphone with mobile technology during work and especially after hours. Learn more about the report here. 70% of enterprises will have an e-signature initiative by 2017. This improved way of accepting signatures isn’t a fad...our world is going mobile and it’s imperative that companies can do business from anywhere. eSignatures allow contracts to be signed in seconds with a click or tap. So yes, e-signing is definitely the future.
The differentiator between you and your competitors is speed. Who can close the most deals? Who can get to business first and lock in their confirmation to use your product? Click-to-sign signatures allow you to close deals faster than ever before and maintain them for years to come.