In today's digital age, the use of technology has become essential in every aspect of organizational management. Businesses are adopting simple and effective methods to make their operations more efficient. Electronic contract signing, or virtual contract signing, is one such technology. This approach streamlines the process of signing various institutional agreements, allowing for employee recruitment and business contracts to be completed without physical presence through digital signatures.
In this blog, we will explore what electronic contract signing is and discuss the advantages and disadvantages of virtual contract signing.
What's in today's blog:
What is electronic contract signing?
Electronic contract signing is the process of digitally signing various business and institutional contracts. Instead of using a physical presence to sign paper contracts, a virtual document is signed. Later, this signed contract can be sent directly to the signer via the internet.
Now, think of it simply: as a skilled and qualified employee, you can get hired by any company in the world while sitting in Bangladesh. Similarly, any business can make various agreements with companies around the globe. What is primarily needed? Just a contract between two or more parties. This contract can be easily completed through virtual contract signing, which is what we refer to as electronic contract signing.
Hazira app offers this advantage with Digital Contract feature. Where users can easily sign contracts digitally from anywhere.
Advantages of Electronic Contract Signing
1. Makes the signing of business contracts accurate and efficient.
The biggest advantage of electronic contract signing or virtual contract signing is that it saves your time. The traditional process of drafting, printing, signing, and sending copies of paper-based contracts takes a lot of time.
With Hazira's electronic contract signing feature, any contract can be digitally signed in moments. This increases the efficiency of your organization's work, especially when there are multiple branches and remote employees. The entire process is completed accurately, as there is no possibility of errors that can occur with manual or paper-based signing.
2. Reduces operational costs for the organization.
Hiring employees or entering business contracts often incurs significant costs due to the need for physical presence, creating paper contracts, printing, manual signing, and then sending documents to everyone. Using electronic contract signing for the same tasks can greatly reduce these expenses.
In addition, paper contracts need to be stored securely, which can be a hassle. With Hazira’s document vault, all contracts can be stored in digital format, significantly reducing the risk of losing important company documents.
3. Provides security for contracts.
Encryption technology is used in electronic contract signing, which is crucial for the protection of your documents. In Hazira, great importance is placed on the security of electronic contracts, ensuring that the document vault is safe from unauthorized access and that file confidentiality is maintained.
4. Convenient for contracting and working with remote employees.
The ability to view and sign contracts from anywhere in the world makes electronic contract signing particularly essential for remote employees. Hazira’s electronic signing feature allows employees and employers to sign contracts without needing to be physically present.
5. Electronic contract signing is environmentally friendly.
The electronic contract signing process does not have any negative impact on the environment, as the use of paper and ink is nearly eliminated throughout the entire process!
6. Electronic contract signing is legally valid.
In Bangladesh, electronic signatures are recognized under the "Information and Communication Technology Act-2006." This means that businesses can legally use this technology for signing various contracts. With Hazira's digital contract feature, you can perform electronic contract signing.
Some disadvantages of electronic contract signing.
We have seen many advantages of signing contracts through electronic signing. However, there are also some disadvantages that should be considered for the security of your organization or business.
1. Technical complexities can cause disruptions.
Some organizations and employees may face technical issues under certain circumstances. For example, internet connectivity and software or hardware problems can disrupt the electronic contract signing process.
2. Legal issues may still persist.
Although electronic signatures have been recognized under the "Information and Communication Technology Act-2006" in Bangladesh, not all countries or organizations legally validate electronic signing. In some cases in Bangladesh, it has yet to gain full legal recognition or professional acceptance.
3. There will always be some risks regarding cybersecurity.
No matter how advanced technology becomes, no digital entity is completely free from the risk of cyberattacks! Without proper management and security measures, the risks will increase. For this reason, you can use Hazira’s Document Vault.
4. Lack of digital literacy among general employees.
Not all employees, employers, or business owners feel comfortable with digital technology. That's the reality! For some, moving from paper-based contracts to electronic contract signing is still a challenge! That's why an easy employee management app like Hazira should be used.
5. Many still cannot place full trust!
Some individuals or organizations still consider traditional contract signing methods more trustworthy. As a result, it becomes difficult to work with them through digital contract signing. However, the landscape is rapidly changing!
A simple and affordable solution for your organization - Hazira.
Hazira is one of the most cost-effective employee management apps in the country. From a single app, you can access various support features for employee management, such as-
- Daily Attendance
- Employee Information Vault
- Work Shift Planning
- Report
- Payroll Management
- Digital Contract Signing
- Document Vault
- Custom Settings
- Free Customer Support
Why we are saying it is cost effective, lets see- Four Packages of Hazira & their prices -–
01. Basic Package -
Company Size - 0 to 20 Person
- ৳1500/ Month
- ৳15,000/ Year
02. Standard Package-
Company Size - 21 to 50 Person
- ৳3,000/Month
- ৳30,000/ Year
03. Premium Package-
Company Size - 50 to 99 Person
- ৳4,500/ Month
- ৳45,000/ Year
04. Enterprise Package -
Company Size - 100+ Person
- Based On Discussion
- Contact Us -
- Phone: 01967391554
- Email: info@hazira.com
Start your journey with Hazira in three easy steps!
1st Step- Register or sign up on Hazira:
First, as the owner of the company Register & start your journey with Hazira. Immediately after registration, a verification email will be sent to your inbox. You need to verify your email using it.
(If you don't find the verification email in your inbox, please check the spam folder.)
2nd Step- Set up your company:
Once the verification is complete, log in. Now, set up your company on Hazira by providing all the necessary information about your company or business.
3rd Step- Enjoy the various features of Hazira:
Afterward, you will be able to see Hazira's dashboard. Enjoy the various features of Hazira easily and at an affordable price! Hazira is available on both web and mobile applications.
Web Application: You will need to use the web application to carry out your organization's administrative tasks.
Hazira's Web Application
Mobile Application: The Hazira mobile app will make managing your organization's daily tasks even easier. Download the Hazira mobile app to simplify employee management.
Watch the demo video to learn more about all the features and activities of the Hazira app.
Demo of Hazira- Employee Management Application
30 Day's Free Trial!
On Hazira, you can start a free trial for the first 30 days. After that, choose a package that suits your business needs and achieve success. So, don't wait any longer—come to Hazira today!