Accountants handle documents every day. Signature transactions remain commonplace in the industry, and customers want the process to be as simple as possible. With the help of e-signatures, accounting firms find they can better meet the needs of clients. What benefits come with offering e-signatures today?
Wide Usage
Early e-signature systems offered limited options, but that is no longer the case. Today, accountants used this technology for IRS forms, employment agreements, purchase agreements, NDAs, and more. In addition, accountants often use e-signatures for client engagement letters. This letter outlines the relationship between a client and a business. Having it signed in a timely manner helps onboard new clients, as the letter must be in place before any work begins. Accountants appreciate being able to create document templates with their business logo and contact information, as this personalizes the document and brands their organization. This is only one reason for the increase in e-signatures being used by accountants.
Regulatory Compliance
The government regulates many industries today, particularly the healthcare, finance, and legal industries. Any organization that fails to remain in compliance can be heavily fined, prosecuted, and more. The damage this does to an organization’s reputation might be irreparable. Every organization must ensure it remains in compliance, and e-signature providers recognize this. An organization must choose a provider that excels in this area and takes measures beyond those that are required to prevent any problems in this area. Regulatory compliance is crucial today, so accountants must make it a priority. E-signatures make it easier to remain in compliance with current government regulations.
Increased Security
When a business uses a physical fax machine to transmit documents, certain problems arise. The documents can be viewed by anyone in the vicinity of the machine, which can raise security and privacy concerns. A business may find a document is sent overnight, for example, and nobody is there to secure the document. It is then seen by unauthorized parties, which may lead to compliance issues. E-signatures eliminate this problem. All parties can sign electronically, so the document remains in the cloud where only those with the proper credentials can access it. This ensures the firm remains in compliance with all regulations.
Simplified Business Operations
Business operations run smoother when e-signatures are used. Documents no longer need to make their way physically from department to department. Each party can receive a document electronically, sign this document, and send it on its way. This allows transactions to be completed in less time. In addition, all parties can easily see who still needs to sign the document. They don’t have to locate a missing hard copy and have this task handled. Everything moves seamlessly when e-signatures are used.
Customer Experience
Customers want service in a timely manner. They don’t have time to wait for physical documents to arrive, as they have other tasks they must attend to. Businesses that offer the e-signature option add value to their lives because it simplifies the customer’s life and improves their overall experience. In addition, they no longer need to print hard copies or store them. The information remains in the cloud, so they can access it when needed, regardless of where they are. Individuals appreciate this today and reward businesses that offer this option.
Every accounting firm should consider using e-signature services. Clients reward businesses that do so because they know their information is secure. However, choose an e-signature provider carefully to ensure they comply with all government regulations and put safety and security first. Companies that find this provider discover they better meet the needs of clients and see an increase in their customer base and revenue.
