Digital Signatures and Startups
An Unexpected Growth Fuel for Startups - Digital Signatures
Ideas, innovation, and change can manifest in many forms and sizes. History is filled with companies that began with radical notions on the smallest of problems and ended up changing the world. In this age of technological marvels, such packets of talents known to us as ‘startups’ demonstrate a staggering potential to add value to this world. But in the grand scheme of things, there are many forces at play. While governments worldwide are trying their level best to make the grounds fertile for the startup sector to grow, there are other challenges to be faced.
Operating on a slightly tight budget requires investing in smart alternatives and shedding unnecessary weight when it comes to operation. Thankfully, we live in an era where we can easily sever out manual processes and replace them with digital counterparts. The same is the case with signing documents.
The market favors the bold, smart, and most important of all, the most efficient player. Digital signatures have been around for a while, but it is in times like global pandemic crisis, solutions like these outperform and shine.
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If your startup has not yet switched to digital signatures, here are four reasons why you should:
1. They are perfectly legal.
With a tremendous rise in online transactions, the need for a safe and legit way to bind the signatory to a written agreement, policy, or any other acknowledgment became dire. If yours is a startup with an innovative product that can sell like hot cakes on the internet, then the most practical way to seal the deal is by implementing a digital signature. Laws and regulations like the Uniform Electronic Transactions Act (UETA) and the Electronic Signatures in Global and National Commerce Act (ESIGN Act) granted legality to electronic signatures. Because of this and other factors, digital signature transactions have gone up from $89 million to $754 million in just five years.
2. Long term Savings.
By deploying digital signature solutions like DrySign, startups can bag long term savings based on the scale of their operation and budget. Hidden costs like printing, scanning, office supplies and storage of paper documents constitute a significant portion of the budget. Smart alternatives not only eliminate these tedious aspects but also enables your startup to do what it does best. Make this world a better place, one problem statement at a time.
3. Operate faster, safer, and smarter.
Using digital signatures can help your organization reduce various operational costs. You can reduce the turnaround time, document processing costs, and error rate by up to 80% and improve productivity by 85%. Streamlining your operations helps you free time to connect with your customers and clients. The transition to digital signatures provides faster ROI when the scale of operations is huge.
4. Join the “Greenitiative”.
The global picture of a paperless tomorrow is evident. All the US federal government agencies are planning to go paperless by 2022. It would be safe to predict that given the initiatives that are going on across the globe, going paperless can become mandatory in a not so distant future. So instead of waiting for that to happen, there’s no harm in reducing the carbon footprint while saving big time on time, money, and infrastructural costs.