5 Emerging Trends in Online Contracts

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Online contracts barely existed until only a few years ago, and they have taken the business world by storm. Why fax or lug around pages and pages when all you have to do is a little typing and some clicking? The answer to that question is that almost everyone has at least begun to move into online contracts, and this move is almost certain to continue growing in popularity. 

1 Mass Distribution

The days when you had to be extra careful that everyone received copies of a contract are essentially over. Naturally, a lot of people feel snubbed if you exclude them, even if it's a complete accident with malice at all. With automatic mass distribution and the ease of CCing anyone who might have an interest, you can distribute tons of copies with ease. If someone could use a copy of the contract or even if they simply want one because they like having them, this is easy enough that you should have no problem at all sending the copy. With digital copies, they can then be propagated easily within the organization instead of hoarded or lost in an administrative maze, the way it could happen in days past.

2 Offsite Storage

There was a time when contracts often had to be kept very safe physically. While there is always going to be some risk of theft, now a lot of the danger of loss that comes from keeping a contract in a safe or on a single device is gone. Offsite storage is as simple as setting up a program or an app, and it can be done within a few minutes and never even thought of again until you need it. Offsite data backup keeps your contract safe even if your office suffers from vandalism or a natural catastrophe. Best of all, this can be done automatically.

3 E-signing

Signing contracts used to be a major hassle. If there was so much as one tiny alteration, you would have to go through and reread it, initialing on every page and signing the last one. If you had to print and then scan the entire contract, this could become a lot of wasted paper and ink as well as a ton of time spent waiting on your printer and scanner. Luckily, e-signing has taken out a lot of this unnecessary busywork and made signing and initialing as easy as clicking and typing. In addition to saving you a ton of time, this is environmentally friendly in the extreme.

4 Phone Based Contracts

The world has gone from one where everything is on paper to one where everything is online. You undoubtedly already knew that part, but what you may not have caught up on is that now almost everything takes place on people's phones. The number one way to access anything online anymore is through a smart phone, and because of this phone based contracts are a common practice now. All you have to do is pinch and pull to read the contract, then tap and sign using your phone's keyboard and you're done. This almost never happened only a few years ago.

5 Single Click Agreement

Agreements and contracts are not always the kind where you have to thoroughly read over and sign them in the "quill pen" style of the past. When you access many kinds of apps, websites and programs, you now effectively sign an agreement with a single click. In more cases than ever, this is becoming both a common practice and one that companies are taking seriously.

Online contracts have changed. These changes make them a lot easier.

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