The Future of Wet Signatures in the Business World

Wet Signatures

Wet signatures have been a part of the business world for ages. Individuals used to create signatures that would best fit their business personality and could represent their businesses. But as the years passed and the world shifted its focus towards a more digitalized space – things took a major turn for everyone.

As business owners or marketers, individuals started using “wet signatures” to sign official documents. These signatures also worked as their business representation.

Moreover, with the world switching to digitalized zones, people understand that wet signatures can sometimes hinder business documentation or can increase the overall cost of signed documents or completed contracts. Having this awareness, it easier for professionals to make a shift from traditional signatures to electronic signatures.

According to a report by Research and Markets, the market of digital signatures is likely to grow from USD 2.8 billion dollars in 2020 to USD 14.1 billion dollars by 2026. There are many reasons for this exponential digital market annual growth. One of them is that the Millennials and Gen Z are conquering the consumer market, so one can not expect them to consider spending their precious time getting printable documents. That is why, in this blog post, we have discussed in detail the wet signatures and their future in the business world.

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What Are Wet Signatures?

Wet signatures are literally the signatures you sign on papers (on business documents, etc) using a pen, which is known as the wet signature.

Wet signatures require the ink to dry on the paper for best results. It can include your initials like the “Z” alphabet, a stamped mark, a thumbprint, or just some sort of physical signature to seal the deal!

Even though email signatures are gradually winning the game – that does not mean that wet signatures have started getting ignored now. People do consider wet signatures for their documents for various reasons. Some reasons are as follows:

1.    To Develop Trust: Wet signatures are successful in giving a personal touch and adding a sense of authenticity and originality to official documents. It adds charm to the paper through your unique representation.

2.    Required Legally: There are many legal cases in which wet signatures are still required. These cases may include one’s wills or property deals that ensure the presence of a person while signing the documents.

3.    Enhances security: As wet signatures are unique and every individual has his personal signature, every wet signature has its own quirks of handwriting, which makes it distinct from the rest.

What’s The Difference Between Wet Signatures And eSignatures?

There are many significant differences between wet signatures and digital signatures. We have penned down a few for you – so you can pick the best one for your documents.

1.    Digital vs. Physical

As the heading suggests – electric signatures are digital while wet signatures are in a physical form in the documents. Many people think digital signatures aren’t legally binding as they are designed using codes and algorithms. But this is not true, even though there are courts that consider eSignatures as legalized and safer to use.

2. Security

Do you know that documents with traditional signatures can be lost, destroyed, or even physically tampered with? When it comes to a digital signature, you can create several backups for your documents to keep them secure.

However, we can not ignore the huge threat of hackers and data theft, which can cause a major dent in digital security. You can overcome it by staying cautious and getting help from professionals to strengthen your digital security.

3.  Convenience

If you want to get a traditional signature, you’ll require a pen and paper to do it. After that, you have to take care of the printing and scanning tasks. But the question arises: do you really want to spend this much time on your documents when you have easier options already available?

We are sure you don’t want to waste so much time of yours. So, here’s the good part of getting a digital signature, you do not need to carry your documents anywhere. Instead, you can simply open the documents on your laptop or electronic device and sign them within a few clicks.

4. Cost

Wet signatures are usually more expensive than digital signatures. For wet signatures, you will need a printer to print the document, its ink, electricity, and much more. On the other hand, when we talk about eSignatures, it doesn’t cost much. Just a one-time investment for a long period, and you are good to go!

5. Efficiency

Electric signatures are way more convenient than traditional wet signatures. You can simply drag and drop your eSignatures, as there’ll be no need to take out your pen to sign any documents anymore.

The Rise of Electronic Signatures

Digital signatures provide you with an efficient, convenient, and faster way to sign your documents. You can feel more secure and comfortable when signing the official documents. However, when it comes to wet signatures, one has to think one hundred times before signing on the official papers, as it is now mostly required in legal documents.

eSignatures will likely go ahead in the digital world as they can be used in every situation. But when it comes to highly sensitive documents, wet signatures are still extremely useful and required to show your physical presence and add a personal touch to seal your deal.

Final Thought

It is fine if we believe that technology can help traditional wet signatures in the future. Marketers and business owners can use it by asking the employees or clients to add their complete details with their wet signatures in the official documents for the safer side. You can check the details whenever you need them to keep hold of the security of the documentation.

However, if you don’t want to see wet signatures fading away – then you can keep the wet signatures for documents that truly require your original and authentic wet signs!

As we are aware of the fact that the digital world is continuously changing, so are its requirements to stay updated with what’s happening around us. This is why business owners and marketers are getting more concerned about what wet signatures hold for the future.

If you are a marketer or a business owner, and that is what you are thinking too, then replacing wet traditional signatures with eSignature is the perfect way. It will allow you to have an easier, faster, and more cost-effective process to sign official documents and make the deal work!