For years, the world has been trending towards being paperless. As an industry that relies heavily on signatures for contracts, retain packets, and settlement agreements, law firms are now finding ways to keep up with the times and move into a paperless world. One of these ways is to use e-signatures, or electronic signatures. Here’s some ways e-signatures can benefits your firm:
They Save You Time
One of the biggest benefits of e-signatures is the time-saving aspect. No longer will you need to print out a document, mail it to a client wait for them to sign it and mail it back. Instead, simply email your client the appropriate document, and with an e-signature they can sign it online and email it back. This can dramatically cut down the time it takes to get important documents signed by your clients. Instead of a process that can take days, getting a client’s signature can happen in a matter of minutes.
They Can Save You Money
It’s been found that the average law firm spends about 3%* of its gross revenue on printing and document output. Of that 3%, 30% is spent on toner costs and maintenance fees alone. Making the switch to e-signatures can help reduce these costs. Less printing means purchasing less paper, toner, ink and less wear on your printers. Though 3% may not seem like much, reducing these costs can help increase your firm’s overall gross revenue.
They Can Be More Secure
E-signatures are becoming one of the most secure ways to have clients sign documents. Many e-signature software protect documents through encryption or through authentication safety measures. This allows e-signatures to be a reliable and quick way to verify signatures, helping reduce fraud or other authenticity challenges.
They Are Better for a Post-Covid World
As the world is slowly making its way back to how it was pre-pandemic, adjustments will still need to be made to fit a post-COVID world. Many are still apprehensive about venturing out or want to reduce their interactions with others. E-signatures are a simple solution to help your clients that may be nervous to visit your firm. They offer the convenience of signing an important document without even having to step out of the house.
Though some areas of law may still need wet signatures here and there (such as Social Security disability as the SSA still requires wet signatures on their documents), many should already be making the switch to e-signatures if they haven’t started. At eGen, we make it easy for our clients to use e-signatures. Our in-house lead and case management software, eLuminate, allows firms to generate documents that can then be electronically sent to clients. Once received, your client can e-sign the document and mail it straight back.
eLuminate comes complimentary to anyone receiving leads from eGen. Currently, we generate Social Security, workers’ compensation, personal injury and employment law leads. For more information on our exclusive leads, contact us today.
*https://www.lawyer-monthly.com/2018/03/heres-how-the-legal-industry-can-benefit-from-managed-print-services/