Wet signatures have been the norm for centuries. However, as the world goes digital, relying solely on “wet signatures” can cost businesses delays and increased costs. If you’re spending too much time waiting for completed contracts or signed documents, it’s time to switch to electronic signatures or eSignatures.
The eSignatures market is growing exponentially driven by rising customer expectations for digital interaction and increased awareness of legal acceptance of eSignatures. Research projects the global digital signature market size to grow to $14.1 billion by 2026, from $2.8 billion in 2020.
Many reasons are behind this overwhelming market annual growth of over 30%. Arguably, one of the main factors is digital natives entering the market, which has raised the bar for baseline expectations when it comes to user digital experiences. In 2022, Millennials and Gen Z make up around 50% of the market consumer landscape, and it is hard to imagine that the generations that grew up on Facebook, Instagram, Tik Tok, Alexa, and Siri will find it acceptable to print documents (or even own a printer), sign dozens of pages, scan them one by one, zip them and send via email.
As once niche technologies increasingly become mainstream, more industries are in turn digitizing their processes to increase productivity and cater to their staff and clients’ expectations. Not only can consumers now open bank accounts, sign loan agreements, or take out insurance with a few simple clicks, but government agencies have also provided more e-signature support for important documents. Needless to say, the outbreak of COVID-19 has only accelerated this already growing trend and abruptly brought the future of work to the present.
For the uninitiated, let’s talk about what exactly “wet signatures” are first. Every time you put pen to paper to sign a document, you’re using a wet signature. The term comes from the phrase “waiting for the ink” to dry on the paper. That’s how signatures were taken centuries earlier.
But they don’t necessarily have to be a signed name. Wet signatures can include a person’s initials, an “X” mark, a stamped symbol, an inked thumbprint, or some other physical form of signature. Some cultures would also use symbols or seals to “seal” the deals!
There are several reasons why businesses are switching from wet signatures to eSignatures.
Several businesses continue to use wet signatures, partly out of skepticism about the whole process of creating signatures online. However, it couldn’t be more straightforward with RSign, a global eSignature solution from RPost. It offers not just advanced security and encryption capabilities but also compliance with eSignature and data privacy regulations.
You can send a document for eSignature to one person or multiple recipients, track in real-time which documents have been opened and signed, and receive an error-free, completed, e-signed form or document to your email without having to follow up with any of the recipients.
Here’s how you can use RSign to digitize your forms and documents and create electronic signatures workflows quickly and easily.
RSign has additional e-sign features that make your contract or form look cool and the process of creating electronic signatures online more robust.
It’s also easy for your recipients to sign documents online. Click on the e-signing link that they receive in their email account and follow RSign’s guided signing instructions. You can even brand your eSignature emails and web interfaces for a cohesive branded experience, or embed your forms anywhere with RForms for self-service, on-demand data collection.
Once you configure your contract and send it for e-signing, your recipients will get a link in their email. They just need to click on it and follow RSign’s guided instructions without downloading or installing anything.
RSign digital signatures guarantee compliance with GDPR, HIPAA, eIDAS, and ESIGN acts and provide users with many privacy options to protect sensitive data. Plus, all parties receive Legal Proof® records and forensic audit trail of every e-sign and UETA-compliant transaction for an atomic timestamp of signer IP addresses, date and time of delivery, and exact message content.
The verdict is clear. eSignatures have obvious time, cost, security, and compliance advantages over wet signatures. As the world transforms digitally at a faster pace, wet signatures are inevitably becoming obsolete.
RSign helps your organization stay ahead of your competition to create free electronic signatures with its feature-rich elements, ease of use, and affordability at scale. And it’s free to use. Try it!
