5 reasons why a native e-signature tool might be best for you
E-signature tools have become commonplace since the boom in remote working. So it's no surprise that some big brands have become household names across the world. But a separate e-signature platform isn't always the answer.
E-signature tools have become commonplace since the boom in remote working from early 2020. So it's no surprise that some big brands like DocuSign have become household names for businesses across the world.
But is a separate e-signature platform always the answer? Not necessarily.
What is a native e-signature tool?
Native e-signature tools are similar to the e-signature products that you already know except they don't exist on a separate app. Instead, they're part of and used from within a platform that you're already using. It enables you and your counterparties to sign documents without leaving the platform you're already working in (e.g. your contract management platform).
We recently released our very own native e-signature tool, designed to help you get contracts signed faster and to make your life easier. Leeway's new secure and binding e-signature functionality means that you can not only generate, negotiate and monitor your contracts from within Leeway, but you and your counterparty guests can now also sign your contracts from within the platform.
So, why might you want to use Leeway's native e-signature over an external provider?
1. Create signature-ready contract templates
Where traditional e-signature tools are designed to sign PDF documents, Leeway's native e-signature can be embedded directly into your contract templates. No additional tools or complexities to include in your process.
✅ Embedded e-signature in your chosen contract templates
✅ Added whenever you'd like in the template
✅ Typed signature or drawn signature (coming soon)
2. Team autonomy yet clear visibility over risk
By adding the native e-signature to your contract templates, you can create enhanced yet simple approval workflows. This means that when a contract is generated it will, by default, have the relevant workflows set up to ensure the right approvals are secured at the right stage of the contract lifecycle (e.g. before sending to the counterparty or before the signature).
✅ Clear and automated approval process
✅ Automated notifications
✅ Reduced risk
3. Speed up the contracting process
Are both parties happy with the contract? Great! All you need to do is hit 'Request Signature'. Your counterparty will receive an email notification and can simply hit 'Click to sign' from within the Guest interface on Leeway. Not to mention, Leeway takes care of moving the contract through drafting, negotiating, and signing, so it will be stored in the correct place.
✅ Request signatures in one click
✅ No back and forth between applications
✅ Automated pre-signature approval requests
✅ Automated filing of the contract in the right place
4. More user-friendly (business teams will love you for it)
Standard e-signature tools mean that users have to enter yet another platform to sign the document. At most, this can cause confusion and delays, and at least it's an inconvenience.
Using a contract management platform with a native e-signature tool means that your operational teams can execute the full contract lifecycle without the intervention of legal (except when it's been defined as required, e.g. approval of contracts over a certain amount).
Leeway's simple and user-friendly interface, which is designed with the whole business in mind, makes it easy and obvious for your teams to get contracts signed in a faster yet compliant way.
✅ Less manual tasks to reach signature
✅ Less clicks to sign
✅ Simple interface
5. A scalable, lower-cost e-signature solution
While some are happy and well-suited to using a standard e-signature tool (which is still compatible with Leeway), many of our customers tell us how costly they can be; taking valuable budget away from other, higher impact activities. That said, for many, this cost has been a necessary evil. Until now.
Leeway's native e-signature comes at no extra cost, meaning you can sign as many documents as you'd like using the tool. No cost by signatures. No add-on fee. As a company scales, the number of contracts scales so this more automated and cost-efficient solution is often a great fit for scaling businesses.
✅ Clear costs
✅ More budget to focus on higher-value activities
Start streamlining your contract process today by exploring how Leeway could support your business. Get in touch here - we'd love to chat 👋
FAQ: Is it really legally binding?
Yes, Leeway offers a legally binding e-signature. The tool respects the four legal requirements of a legally binding signature.
The identity of the signatory is verifiable
The document is considered signed only when all parties have signed the document
Once the signature process has started, the document can no longer be edited
Once signed, the document can't be edited and it is safely stored
This means that the document stored is immutable and, thanks to Leeway's versioning and redlining functionality, there is a clear audit trail of key actions leading up to signature.
Note that in some cases, for example with real estate agreements, it can be useful to use an advanced or qualified e-signature. The main difference here is that it would require a double authentication to allow each signatory to sign the document.