The Future of Document Signing: Online vs. Traditional
The ability to sign or authenticate a document is an essential practice both in personal and professional life. A bus load of credit goes to our modern Information Technology for shifting this traditional signing process from paper to cloud. It's not a secret anymore that the present tech-fueled world thrives on instant connection and fast-paced communication. Therefore, moving away from traditional methods of document signing towards more practical, efficient, digital solutions is just a natural part of evolution. Like most digital advancements, online document signing has raised a wave of excitement for some and skepticism for others with its emergence. So, let's embark on this journey to evaluate the future of document signing: online versus traditional.
# Traditional Document Signing Process
The age-old system involved penning down the approval or assent on a piece of paper. Although this process may seem relatively direct and secure, the actual ordeal involved in getting the document signed could be pretty exhaustive and, in some cases, extremely daunting as well. Imagine a scenario where a document needs the signatures of multiple personnel from different geographical locations. The document has to be couriered to each individual, which is both costly and time-consuming.
On top of this, the risk of misplacement or unauthorized access to sensitive information is always a concern. Excruciating, isn't it? Well, that's traditional document signing for you!
# The Magic of Online Document Signing
Digital platforms offer the solution to all these challenges - the magic of online document signing. The process is simple and instantaneous: A document is uploaded to the software, invites are sent to participants via email, and the document gets signed digitally either via typing, drawing, or uploading a scanned image of the signature. No prints, no ink, no courier, no waiting – it's as easy as it sounds!
A crucial aspect that digital signing addresses is security. Digital signature software, like DocuSign and HelloSign, use encryption technology to add an additional layer of security that no physical document can offer. This mechanism ensures that the document data remains intact and is not manipulated during the course of its lifecycle.
Another remarkable benefit of digital signing is its global acceptance and legality. A digital signature has the same legal status as a handwritten signature in most countries, including the US, Canada, EU nations, and Australia.
# Speeding towards a Paperless Future
Given the benefits, it's easy to understand why more and more businesses are gravitating towards adopting digital signatures. The rise in work from home culture due to the Covid-19 pandemic has further triggered the necessity and use of online document signing tools engraving its importance in our future ways of working.
A Statista study also reveals that the global digital signature market size, which was estimated at USD 1.2 billion in 2018, is expected to witness an explosive growth to USD 5.5 billion by 2023. This trend is a definite indicator that the digitalization of signatures is set to revolutionize the future, tilting the scale heavily towards the online side in the digital versus traditional document signing saga.
# The Final Verdict
While it's conceded that any technology-driven transformation receives its share of resistance, the key to successful transition lies in stepping out of comfort zones and embracing change. The same applies to the evolution from traditional document signing to digital signatures.
Of course, traditional document signing still holds its own charm and will continue to remain an option. However, considering convenience, efficiency, cost-effectiveness, and high-end security, digital signatures have clearly marked their territory in the future of document signing. It's high time companies hopped on this tech bandwagon to stay competitive and relevant in this dynamic digital era.
In conclusion, the age of online document signing is here and is indeed the future. It's not designed to eradicate the traditional process, but to complement and enhance it, thereby making our life simpler, faster, more secure and sustainable. So, here’s raising a toast to an inkless future – a future less about audits, compliance, and process, and more about strategy, growth, and success!
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