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6 Reasons Why Electronic Signatures for Retail Businesses6 min read

Electronic Signatures for Retail

Although electronic signatures have been adopted across most industries, the retail sector has been a bit slower in adopting this technology. It’s not entirely clear why this is the case, but it may have something to do with the fact that it’s less obvious how retailers can benefit from using eSignatures. In sectors where contracts are critical to daily operations (such as real estate), the benefits of e-signatures are much more apparent. 

There are many potential benefits of using e signing for retail businesses. For one thing, it can speed up the purchase process and reduce paper waste. Additionally, digital signatures are tamper-proof and more secure than traditional signatures, which can help to enhance security and protect your business from fraud. In addition, our software is easy to use and integrates seamlessly with popular retail point-of-sale systems. 

Before delving into the reasons behind selecting Certinal for electronic signatures in the retail industry, let’s examine the diverse categories of retail establishments and the documents they frequently employ. 

Types of retail establishments 

The term “retail” encompasses a wide range of business models. The following are some of the most common types of retail stores: 

  • Speciality stores specialize in a specific product category, such as electronics, entertainment, or clothes. 
  • Convenience stores are small to medium-sized convenience businesses that are typically found near residential areas. 
  • Department stores are large enterprises that provide various services and commodities and are organized into departments run by merchandisers, buyers, or a private company. 
  • Supermarkets are medium- to large-scale grocery stores focusing on high-volume, low-margin sales. 
  • Direct retailers/warehouses are medium to large establishments that are typically located off the high street and sell things directly from the manufacturer. 
  • Discount stores are large, medium, or tiny retailers that buy branded items or end-of-run stock and offer it at a deep discount. 
  • Stores that sell directly to customers via an e-commerce website are known as online stores. 

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Documents used in the retail industry 

  • Sales quote 
  • Sales order 
  • Invoice 
  • Sales receipts 
  • Sales return 
  • Delivery notes 
  • Packing Slips 
  • Supplier forms 
  • Concession documents 

use of electronic signature in retail industry

Advantages of E signing for Retail Businesses 

1. Boost efficiency and simplify processes

Certinal’s electronic signatures can be used to modernize and automate your manual processes, improving efficiency and reducing costs. Our digital signatures are legally binding and meet all the requirements of the UETA (Uniform Electronic Transactions Act). They are also tamper-proof and support multiple signature types, making them ideal for high-value transactions. In addition, our software is easy to use and integrates seamlessly with your existing systems. As a result, it is the perfect solution for businesses that want to streamline their sales processes. Certinal’s electronic signatures are the future of retail sales. 

2. Non repudiation and robust audit trail 

Contracts are an important part of doing business, but they can be a hassle to manage. The time and cost involved in sending contracts, copying them, and storing them for filing can add up, and there’s always the possibility of contracts being forged, lost, or damaged. Fortunately, a better way to handle contracts is with digital signatures. 

Digital signatures are a secure, efficient way to sign contracts without worrying about the paper trail. Certinal provides a secure digital signature solution compliant with UETA (Uniform Electronic Transactions Act) and eIDAS (Electronic Identification and trust services) regulations, making it a great choice for businesses that comply with strict security standards. With Certinal, it’s easy to create and add a digital signature to any document. 

3. Safe, secure and compliant 

Certinal’s e-signatures are entirely secure, ensuring your clients’ details are safe and allowing you to share documents and information with colleagues to reduce internal workloads significantly. 

Certinal’s digital signatures are based on the most advanced cryptographic algorithms, which security experts have extensively tested. The Certinal system has been designed to be highly scalable so that it can support a large number of users and transactions. 

Additionally, Certinal’s e signing for retail work on most mobile platforms, allowing retailers to complete sales in the office or even while on the move. Most importantly, customers can sign with Certinal on the go at their convenience. This makes it easy for you to start using Certinal’s esignature solutions immediately. 

4. Improve your CX significantly

Several clients dislike dealing with large stacks of paper agreements, contracts, warranties, and receipts. It is tiresome and inconvenient. In this case, online signature software like Certinal comes in handy by enhancing the customer’s purchase experience. 

Numerous studies have demonstrated that improving customer experience is a top objective for many businesses. According to a survey conducted by Watermark Consulting, companies that provided a positive customer experience beat their competitors, producing a total return of more than 30 per cent. 

Electronic signatures in retail businesses enable digital transformation, which eliminates inefficiencies that have a detrimental impact on your customers. Your clients may produce signatures online with a single click from any device at any time. 

5. Increase bottom-line savings 

According to a leading American research firm, businesses spend around $80 per employee per year on paper, and 50-70 per cent of workplace space is devoted to filling and keeping printed documents. According to another study, locating a misplaced document costs $120, filing a record costs $20, and reproducing a missing document costs $220*. 

Some major cost centres in the retail business are: 

    • Copying costs 
    • Cost of copier and printer supplies 
    • Scanning cost 
    • Cost of buying printing papers 
    • Printing costs 
    • Delivery or mailing cost 
    • Safe document storage cost 

Investing in online signature software is one option for retail businesses to cut costs. The return on investment can be pretty substantial, and shops may notice it immediately. 

6. Environmental Impact 

Organizations looking to make their retail business more eco-friendly can use Certinal’s online signature software to help them create digital signatures. Certinal helps reduce the environmental impact of paper waste and is committed to helping its customers eliminate as much paper waste as possible. In addition, Certinal’s online signature software helps businesses meet their customers’ needs by providing a convenient way to sign documents electronically. 

Certinal helps businesses save time and money while contributing to a more positive customer relationship. As more and more enterprises adopt Certinal’s online signature solution, the environmental impact of paper waste will continue to decrease, making a difference in the fight against climate change. 

Also Read: Are Electronic Signatures Secure?  

Conclusion 

In a world that is increasingly digitized, it is no surprise that the way we sign documents has been evolving. If you are still signing documents with wet-ink signatures, it is now the right time to think about switching to e-signatures. 

Electronic signatures for retail save time, effort, and money to make contracts more secure and, simplify audit and compliance and help reinforce your brand. Since eSign solutions can be effortlessly integrated into existing applications and need little capital outlay, there is no reason not to switch.

Certinal provides a secure and efficient digital signature solution tailored for businesses of all sizes. 

If you have any further questions or want more information about how Certinal could benefit your organization, please do not hesitate to book a demo with us. 

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Author
Senior Executive - Marketing
Aritra is an experienced marketing professional with over five years of expertise in various industries. He specializes in brand management, campaign design, demand generation, marketing process optimization, and PR. Aritra holds a master’s degree from Bennett University, and he has actively contributed to several student initiatives during his time there.
Certinal - IDC

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