Here’s Why Electronic Document Signing Is Great for Contract Processes

07/27/22

CobbleStone Software explains why electronic document signing is great for contract processes.

Gathering signatures for a contract or agreement can be difficult without the proper tools. Outdated and slow signing methods can cause signature bottlenecks that delay contract execution. What’s more, high costs for wet signing and postage can decrease your bottom line.

Fortunately, there is a better way. Let’s discuss why electronic signature software within contract management software is awesome for your contract processes.

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Electronic Document Signing

Electronic document signing is meant to provide a more streamlined way to gather signatures. Electronic document signing enables stakeholders to sign documents online without the need for a physical copy of an agreement document. Electronic document signing can significantly cut send-to-sign time – streamlining contract processes.

 

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Streamlined Contract Signing

Robust electronic signature software allows your organization to capture an electronic rendering or image of your signature – so to speak. Additionally, your organization can configure routing and storage preferences for agreements for easily added signatures on your terms.

  1. Save money with legally binding electronic signatures without the need for paper, ink, printers, travel costs, or mailing costs.
  2. Save time following up on documents out for signature.
  3. Enhance security with audit trails and a legally binding and secure interface that helps prevent breaches and processing errors.
  4. Improve visibility and your business reputation with a reliable signing process that is accessible in or out of the office. This can include a user-friendly mobile app for contract lifecycle management.

Bonus Tip: Precisely how to sign a document electronically will depend on the CLM provider you choose. For increased signature options diversity, consider a contract management software provider that offers native contract signing and third-party eSign options. These may include AdobeSign license connectors for adobe fill sign functionality.

Digital Signature Capabilities

Electronic document signing can be further improved with digital signing capabilities. Digital signatures can help you remain compliant and observe regulations while virtually ensuring legally binding signatures. You can create a signature process that certifies document integrity.

Digital signatures can help you add your signature and route signatures on a user-friendly interface. Digital signing includes digital confirmation with timestamps and encryption. These features can provide proof of document integrity with a reduced need for a licensed notary.

Adherence to regional and industry regulations can come from digital signature processes. Additionally, leading digital signature solutions support eIDAs (electronic Identification, Authentication and Trust Services) advanced electronic signatures and more.

Diverse Signing Options

Leading contract management software affords your signatories diverse signing options.

  1. They can easily navigate an agreement document for signature with forward/backward buttons, double clicks, and page selections.
  2. They can drag and drop saved signatures into the correct position on a document section for signing.
  3. On the other hand, they can click a signature type dropdown to navigate saved signatures and types your organization has configured.
  4. If they are working without a saved signature, they can add text by typing or drawing their signature.
  5. They can easily click apply with “Sign Now” and see their signature populate a contract document!

Bonus Tip: Enlist the aid of an electronic signature system with various options for signature type, color, location, and appearance.

Advanced Electronic Signature Placeholder Settings

Your team can be prepared to speed up signing processes with advanced signature placeholders in CLM software.

The ability to preselect signature locations can allow your contract managers and stakeholders to sign where necessary every time. Furthermore, you can configure the participant used as a placeholder. For this purpose, you can easily select from the list of signers specified in your eSign process.

You can also quickly configure the width and height of the placeholder signature. This configuration can include the recommended 150W x 25H for standard documents for signature.

Advanced eSign solutions within contract management software should offer the following placeholder types and more.

  1. Saved Signatures: Signatures have previously been saved by one of your contract lifecycle software users.
  2. Drawn Signatures: Signatories can freely draw a new signature.
  3. Typed Signatures: Signatories can type in text as a signature.
  4. Initials: Signatories can type in their initials (likely limited to first name, middle name, and last name maximum).
  5. Dates: Signatories can insert a date signature with various formatting options.

Make Your Case for Contract Lifecycle Management Software

 

IntelliSign® for Electronic Signature Process Automation

IntelliSign electronic signatures within CobbleStone Contract Insight® can offer the features above and more.

IntelliSign signature processes can be created from various critical areas of CobbleStone®, including:

  • CobbleStone Software’s document toolbox for contract management files and attachments.
  • a completed E-Approval screen for an approved contract document.
  • contract record detail pages across the system.
  • documents that have been merged with templates from your pre-approved library.

IntelliSign offers the online contract signing tool of the future! It can also integrate DocuSign and Adobe Sign to further centralize your processes.

Discover why thousands of contract managers trust CobbleStone with their signature and contract management needs. To learn more about CobbleStone, book your free demo with a CobbleStone expert today!

It’s no wonder why Quadrant Knowledge Solutions recognizes CobbleStone as a CLM Technology Leader in the Spark Matrix™ Report.

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CobbleStone’s award-winning CLM software offers optimal governance, reduced friction, and high flexibility from requests to renewals. CobbleStone Software has been a visionary leader in CLM software for over twenty years. CobbleStone’s user-friendly, robust, and scalable solution seamlessly integrates with leading applications for unified and seamless contract management. CobbleStone Software, as a software provider, also remains SOC 1 and SOC 2 compliant to encourage paramount security.

CobbleStone Software offers a complimentary demo.

Want to try CobbleStone out for yourself? Enjoy a free trial of CobbleStone Contract Insight today!

*Legal Disclaimer: This article is not legal advice. The content of this article is for educational purposes only. The information on this website may not present the most up-to-date legal information. Readers should contact their attorney for legal advice regarding any particular legal matter.

Sean Heck

Written by Sean Heck

Sean Heck is Content Marketing Manager at CobbleStone Software

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