With the spread of COVID-19, the prevalence of social distancing, and the growing number of employees working from home, there has been a fundamental shift in the way business operations are conducted, including crucial tasks such as reviewing and signing contracts and agreements. In order for a contract to be legally binding, it needs to be in a written form.
Depending on the country where the contract takes place, there may be certain rules and regulations to be taken into account, but the overall basic rules remain pretty much the same. Enforceability of those contracts, as well as digital signatures, are not the topic of this article, rather we want to show you the benefits of using electronic contracts, if you haven’t started using them already.
1. Save you time
In the traditional way you have to print the contract, sign it, mail it to the other party, wait for them to receive it, sign it, send it back to you and finally you have to receive it. This can take anything from a couple of days up to a couple of weeks. Not to mention that you will have to go through the entire process again if the contract somehow gets lost in transition. If you do it electronically, however, you can get the job done in less than a day, meaning that you will start doing business sooner, which leads to faster turnover.
2. Save you money
Most companies know that electronic contracts will save them money, but very few know by how much. Just consider the costs of buying and maintaining printing equipment, paper, delivery, filing and storage. This is especially the case if you sign a lot of contracts — costs can pile up pretty quickly. That’s money which you can certainly put to some better business use.
3. Make you flexible
If the recent pandemic has taught us anything, it is that we need to be flexible in the ways we do business. The most adaptable businesses are those that lead the curve. Electronic contracts allow you to do business faster, from anywhere, no matter if there is a lockdown, remote working conditions or the person you want to hire is across the ocean.
4. Make you responsible
Due to Covid-19 it seems as if we’ve forgotten about all the other very important global changes and threats, like the global warming effect. More than ever, we need to be responsible in the way we use resources and maybe even more importantly, how we dispose of them. Electronic contracts benefit not just your company, but the environment as well — saving all this paper, means saving more trees and ultimately helping the nature through sustainable business.
Electronic contracts will remain an integral part of doing business in the future, as well as a driving force of today’s modern marketplace. At 3B Onboarding we are dedicated to helping your organization accelerate its digital transformations, stay ahead and save time and money by employing cutting-edge technology. Through our solution you can manage and track all of your contracts, agreements, and orders in one place. You can view the status of each document at a glance and know which ones have been signed and which haven’t. The paperless system appears to be the only option left for modern recruitment and staffing companies if they want to stay in business.
If you want to see our solution in action and how it can benefit your business, please book a demo on our website by clicking this link here. We would be more than happy to demonstrate all the bells and whistles of our electronic contracts.