If you are looking for an eSignature solution, you’ll find thousands of results and hundreds of services offering their platform –– each touting itself as the best. But “best” is in the eye of the beholder, and depends on the specific needs of your organization.
With so many businesses offering basic eSignature capabilities, it’s important to understand what the differences are between first- and second-generation providers, and which ones can work for your needs.
1st-generation eSignature solutions: PDFs designed for computers, not mobile
Many of the offerings on the market are first-generation eSignature solutions, which essentially enable signatures to be added to Word or PDF documents in a secure and legally binding fashion. These are the eSignatures most of us are familiar with, having encountered them in various business contexts such as employment agreements.
These solutions are well-suited to companies with lower volumes of transactions, or whose agreements are primarily with other businesses where real-time completion is less important.
2nd-generation eSignature solutions: Intuitive interfaces designed for mobile consumers
Businesses who target the fickle and impatient consumer sector may benefit more from second-generation eSignature solutions. These platforms are optimized for mobile use, so businesses can close the entire sales cycle with customers via smartphone.
Second-generation eSignatures streamline the entire customer journey into one single interaction, accelerating the entire process. They are built for the mobile era, with an intuitive mobile-friendly interface that allows far more than just signing PDFs.
Agents send customers a text message containing a link that opens up to a secure mobile environment where customers can upload documents, fill out and sign forms, provide ID that gets automatically verified, and send payment. Agents can also guide customers through this process in real time via phone call, ensuring everything is completed the first time with no mistakes.
The advantage of second-generation eSignature platforms is that they reduce turnaround time, increase completion rates, and provide a seamless agent and user experience.
Let’s evaluate your eSign needs, and see where you stand.