Contract & eSigning Software

These products allow you to sign contracts electronically. Organizations can use this software to sign, send and manage documents on any device from anywhere in the world. This saves time on contract management and helps close deals faster. Some important considerations when choosing contract and eSigning software include security standards, privacy policies, enforceability, scalability and regulatory compliance. Some products come with advanced features, such as, role-based security access, secret code authentication, custom data fields and the ability to send reminders to signers.  Read the full software guide...


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What is Contract & eSigning Software?

Contract & eSigning software is a tool that businesses and organizations use to gather legally binding signatures and attach them to digital or electronic documents. It eliminates the need for a manual process of printing the document, affixing the signature, scanning and then sending it to the recipient. Creating the signature is easy; users only need a tablet, or a touchpad or a mouse.

This document management solution also has an audit trails feature that allows users to verify signatures. Likewise, collected signatures are stored in the system.

Businesses use the software to attach electronic signatures to sales agreements, new employee paperwork and client and partnership documents. It’s also helpful for encrypting documents. Whatever signed contracts businesses need, the software can help make the process easier and more efficient.

There are several other things that contract & eSigning software can do for businesses. It allows users and their recipients to use different operating systems and devices for signing documents. The software also monitors the status of users’ documents and sends alerts when they need to approve or sign anything.

Aside from the ones mentioned above, the software’s other common features include multi-party signing that allows multiple users to gather multiple signatures and share documents, the ability to collect and attach signatures using mobile devices, sharing email forms, reminders and notifications and the use of templates documents.

Contract & eSigning software is used in different industries and by a variety of businesses: sales agents, lawyers and legal personnel, bank officials, human resources professionals and real estate agents. It is ideal for businesses of all sizes.

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Types of Contract & eSigning Software

Contract & eSigning software solutions are categorized into three major types: on-premise, cloud-based or SaaS and open-source.

On-premise contract & eSigning software

Contract & eSigning software that falls under this category is hosted on the local server of the client or business. As such, the server is physically located within the premises of the company. Users are provided with a single license.

On-premise eSignature solutions can be customized but can be quite expensive. Additionally, setup is a bit complex and therefore needs technical knowhow, especially since users might need to install some hardware.

Cloud-based or Software-as-a-Service contract & eSigning software

Contract & eSigning software that belong to this category is hosted on the server of the vendor or on the cloud. Users do not need to download or install anything. Likewise, maintenance and updates are the responsibility of the vendor.

SaaS electronic signature software comes with a monthly user’s fee.

Open-source contract & eSigning software

This contract & eSigning solution type is ideal for small and medium-sized businesses that want a good eSignature solution but has a limited budget. Open-source eSignature plans are usually given for free or with the most affordable rates.

The software provides universal access and users are not required to spend anything for maintenance. There is also no need to worry about updates.

Other types

Contract & eSigning software can also be categorized as a standalone tool or as part of an integrated comprehensive solution.

A standalone tool is an independent solution and does not come with bundled software. No installation is necessary and it runs with the aid of the service’s operating system.

Integrated software is a set of solutions that consists of different applications closely related and complementary to each other. Common integrations for contract & eSigning software include CRM, HR and billing.


How to Choose Contract & eSigning Software

There are several things to consider when choosing contract & eSigning software.

Research on eSignature laws

Before picking out an eSigning tool, squeeze in some time to research on current contracts and electronic signature laws. Although digital signatures are considered legally binding, there are certain regulations you should be aware of.

The software you are planning to purchase should follow current eSignature laws. Likewise, research and understand the importance of ESIGN and eIDAS regulations and ensure your software is compliant with both.

Pay attention to its features

Choose a tool that enables users to enjoy multiple features. Your choice should give you more than just signing process functionalities. It should allow you to share and archive or store signed documents, for example. Additionally, its electronic signature feature should allow you to use the keyboard, mouse, your finger or stylus when signing.

User-friendly and easy to use

The ideal contract & eSigning software is simple, easy to use and user-friendly. Choose a solution that you can quickly and securely set up, even without the help of a technical team. User experience is also important, especially if you want to increase efficiency.

Ability to convert forms

One of the features often taken for granted when searching for contract & eSigning software is form conversion. You will want to use a tool that allows you to convert your existing or current forms into forms that are compatible with digital signatures. If your chosen software does not offer this functionality, it will all be for nothing.

A form conversion feature will help your business save time, effort and money.

Integration

Choose a contract & eSigning tool that seamlessly integrates with other applications and systems. Ideal solutions are those that come with built-in third-party tools, which is more convenient compare to adding an app individually. Essential programs that should be integrated into your eSignature system include CRM, HR, sales, customer relations and billing.

Security

Since you will be dealing with documents and sensitive data, it is essential to choose a solution that provides strict security. The secured signing of documents and protected storage should be a priority.

More specifically, you should look for software that has the following security features: multifactor authentication, SSL document encryption and audit trail.

Multifactor authentication protects documents by requiring unique identifiers such as social security numbers and passwords.

SSL document encryption ensures that only authorized users or employees are allowed to access the files. Likewise, documents are encrypted as they are transported and stored.

Mobile capabilities

A lot of people use their smartphones and tablets for their business-related tasks. So, be sure to choose contract & eSigning software equipped with mobile capabilities.

Pricing

You also have to consider your budget when choosing contract & eSigning software. Keep in mind, however, that quality should always be prioritized over anything else. No worries, though, as there are several affordable eSignature tools guaranteed to deliver excellent quality services.


Benefits of Contract & eSigning Software

Businesses that use contract & eSigning software will enjoy several advantages and benefits.

Integrated and automated solutions

Integration with other applications and programs allow users to enjoy seamless processes. Employee collaboration is easy. Everything you need to complete contracts and similar projects are in one central location.

Likewise, the software is automated, so employees save a lot of time and effort while increasing individual and organization efficiency.

Cost-saving

Since you don’t have to endure the tedious process of signing, scanning, printing and emailing or sending documents, you won’t need to spend for paper, printing and other paper-based materials commonly used in manual procedures.

Time saved can also translate to money saved as you and your team now have more time in your hands to focus and work on other equally important tasks.

Convenient

Contract & eSigning software is equipped with features that make the signing process simple and convenient. For example, your clients only need to type or draw their signature one and it can then be added or attached to other documents by a simple tap.

Likewise, the software comes with reusable templates that you can use for creating documents.

Legally binding

Updated contract & eSigning solutions are legally recognized as they adhere to the Uniform Electronic Transactions Act, ESIGN Act and other legal resolutions and requirements.

Satisfying user-experience

The automated processes in contract & eSigning software allow users to enjoy a convenient, stress-free experience. There’s no need to download and print documents. The procedure can be completed in a matter of minutes. Additionally, the software allows clients to affix their signatures even when they are mobile or on the go.

Flexible and scalable

Contract & eSigning software is flexible because it allows users to utilize other channels in affixing their signatures on documents. Some examples include in-store terminals, the company’s website and email.

The software is also scalable, so it grows and develops along with your business. As such, you won’t have to worry about looking for another tool when your company expands.

Reliable customer service and agent guides

Contract & eSigning tools provide users with agents that guide them through the process. They assist customers by calling and communicating through mobile phones, so guidance is provided in real-time. This process helps ensure first-time customers sign the documents correctly.

Instant collaboration

The software makes it easy for you and your team to communicate with clients. Collaboration is instant as all you need to do is send a text message when a document or two needs signatures. Clients do not have to download anything, or scan their signatures or wait for an email.

Tamper-proof security

All activities on the contract & eSigning tool are recorded, audited and time-stamped. As such, the software can track and identify anyone who accesses and downloads the documents.


Common Features of Contract & eSigning

2-Factor Authentication Adds an additional layer of security by requiring an extra step in the login process. Usually external devices are required for this or a text message with a verification code is sent to the user when trying to login.
API Application Programming Interfaces (APIs) are programmatic intersections with external products or platforms that allow for custom integrations with your own solutions or other solutions you are using.
Calendar Management Manage and update calendars for scheduling or consolidation of events across teams, departments or business functions.
Contact Management Manage large amounts of personal or business contacts in a centralized system.
Data Export Exporting functionality can be used to streamline the migration of data sets and information across systems, platforms or applications.
Data Import Importing functionality allows you to use data sets from other systems or platforms to cut down on data entry requirements or to more easily migrate records from similar applications you have used in the past.
Document Comparison Compare and contrast different versions of documents and browse revision histories to consolidate collaborative changes.
Electronic Signature Sign contracts and other legal documents electronically on a computer or mobile device.
External Integrations Integrations with other software products or platforms to improve efficiency and compatibility across systems.
File Sharing Share files with colleagues, customers or other stakeholders for easier access across platforms, collaboration and/or version control.
File Transfer Transfer large files to colleagues, customers or other stakeholders. This is often used for files too large to transfer via email and other conventional transmission methods.
Multi-User Supports more than just one user account and generally allows for collaboration with colleagues.
Notifications Includes notification support and sends you alerts with information on important events and other time sensitive instances. For example through push notifications on mobile phones or email notifications.
Sales Motivator Gamification or motivation features within sales and CRM software to increase sales performance.
Scheduling Schedule tasks, resources, appointments, payments, communications, etc.

Latest User Reviews of Contract & eSigning Products

CocoSign
Xinthia Alex
15 Nov 2020
""We now sign & collect signature for any d..."

CocoSign is adaptable, user-friendly, and offers a feature to generate reports to gain deeper insights into the signable documents a...

CocoSign
Mitchell Vinson
16 Nov 2020
""A problem solver and My time Saver""

I have always had everything done handwritten in person. Especially since COVID19 - this has been the best thing for business yet! ...

CocoSign
Rhonda Roman
17 Nov 2020
""Work becomes easier because of CocoSign""

Using it to request signee's signatures when hiring people. Let them know if there are hired or not be email. Once they are hired, t...

HelloSign
Paul Pham
17 Nov 2020
"Predatory billing"

I do not like anything about this service. The signature process isn't as efficient as DocuSign


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