Creating a contract is not typically a cut and dry process. A contract may have to complete many internal processes before completion. These processes can be based on contract status, budget, and type to trigger a workflow in a contract management system. Without automated workflows, processes can be time consuming and mistakes can be made. Forget having to manually drop off a contract or make sure it is attached to an email, automated workflows are here to do that for you.
Electronic signature (Esignature) is not a new concept in business practice. In fact, telegraph signatures were once legally acceptable. Times have changed, of course. Even the traditional wet signature seems to be a thing of the past for many companies. In mid-2000, eSignature was ruled by Congress to ensure the same legal standing as a traditional handwritten signature. ESign even has its own national holiday, June 30th, if you plan to mark it on your calendar.