Month: May 2020

29
May
2020

Cost Saving with Electronic Signatures

As a business owner, the most prominent burden on your shoulders is the cost of running a business. Among the many operational costs that a business has to bear, the cost of paper-based supplies and their necessity present a confusing scenario for every business. Digital transformation is gradually driving attention towards paperless solutions such as Electronic Signatures. The primary motive of cost-saving with electronic signature solutions is driving the necessity for justifying the use of electronic signatures.

However, many readers might still wonder about the improbable proposition of replacing something as cheap as paper. On the contrary, there are many costs that accompany the use of paper and a closer reflection on them can help you understand the reasons to use an electronic signature for businesses.

Also Read: Cost Saving Benefits of Electronic Signatures

Cost Saving with Electronic Signature

The following discussion would outline the various costs associated with paper-based signatures to help readers understand the how they can save money with the electronic signatures i.e. cost saving benefits of electronic signatures.

  • Costs of Purchasing Paper

One of the first costs that you would find with paper-based signature refers to the costs of purchasing paper itself. However, this is where the majority of readers assume that paper is cheap and obviously a cost-effective solution.

According to Informit, a U.S. office worker uses over 10,000 sheets of paper per year.

So, there are many more costs involved with paper when you use it for requesting paper-based signatures. You can get a detailed idea of cost-saving with electronic signature by reflecting on various costs associated with the use of paper in an organization.

  • Printing and Photocopying Costs

Printing and photocopying are undoubtedly mandatory procedures in the use of paper for an organization. The cost of printing and photocopying includes the capital cost of the equipment such as printer and photocopier. In addition, the benefits of electronic signature become clear when you find other costs in printing and photocopying. The cost of toner and the maintenance costs would also no longer trouble you with the adoption of electronic signatures.

Furthermore, you can also save a considerable amount of time alongside costs by shifting to electronic signatures. Workers don’t have to wait anymore at the copier for their turn or fix a jammed printer. The time saved on these menial tasks can encourage workers to focus on business-specific productive tasks.

  • Costs of Paper Delivery

The validity of cost-saving with electronic signature becomes evident with further reflection on paper delivery costs. The cost of paper delivery is a significant highlight in paper-based signatures, as you would have to deliver a document to other people who have to sign it. Now, the variability factor comes into play when you estimate cost savings on paper delivery costs because of the different types of delivery methods.

You don’t have to incur any costs for paper-based signatures when documents are delivered internally within an organization. However, delivery of documents through postal service would include the cost of envelopes and postage. In the case of urgent documents, you might have to incur overnight delivery charges for using courier services. Furthermore, you would also have to pay additional costs for the courier to return the signed documents.

Also Read: Top Reasons to Go Paperless

  • Costs of Paper Scanning

Another noticeable cost associated with paper that answers the question, ‘why use electronic signature’, refers to paper scanning costs. After receiving signed documents, you have to scan them for storing as digital records. Apart from the average cost per page for scanning, you can also find that manual processes in scanning are cost-intensive.

For example, the manual efforts in the removal of staples and paper clips from documents before scanning or repairing any damages involve additional costs. Furthermore, you would need technical expertise for indexing of images for connecting them with digital records in a database.

  • Costs of Storage

Enterprises that rely on paper-based signatures would definitely rely on retaining the paper documents. The factor of legality is a prominent concern as a paper-based signature is valid only when there is proof of their association with a physical document. You cannot validate a paper-based signature without the actual document.

Therefore, a business is legally bound to store documents with paper-based signatures. As a result, you cannot leverage cost-saving with electronic signature due to the administration costs for storing paper-based documents. The cost-saving benefits of electronic signatures would also take the cost of filing cabinets, folders, and tabs alongside the cost of their maintenance into account.

The legality of an electronic signature is an important concern while using electronic signatures. Let’s have a discussion on what makes an electronic signature legal.

  • Costs of Paper Disposal

Finally, after the use of paper documents for obtaining signatures, you would have to dispose of them. Disposal of the documents is an essential practice in the management of storage for paper-based documents of an enterprise. The costs of paper disposal would involve the capital cost of equipment such as paper shredders and other administrative costs. You have to pay an expert to shortlist the documents suitable for disposal and provide authentication for disposal processes.

  • Hidden Costs with Paper-Based Signatures

In addition to the above-mentioned costs that are explicitly visible with paper-based signatures, there are many hidden costs you can avoid by choosing electronic signatures. Apart from cost saving with electronic signature, you can save a considerable amount of time. Paper-based signatures require a lot of time for processing, beginning from the preparation of documents to their disposal.

However, electronic signature solutions allow users to sign multiple documents at a time without any trouble. Most important of all, paper-based records often land up enterprise in compliance failure issues due to lack of security. Another critical cost associated with paper-based signatures is the delay in capitalizing on favorable business opportunities.

Finally, enterprises should also focus on the costs of retrieving data in the event of disasters in the case of paper-based signatures. The cloud-based backup and recovery infrastructure of e-signature solutions can help in realizing the cost-saving benefits of electronic signature in this case.

It is important to look into the security factors while choosing an electronic signature solution for your business. Here are the top points you should consider while choosing an e-signature vendor.

Bottom Line

On a concluding note, you can clearly see how electronic signatures help you avoid the costs with paper-based signatures. The cost-saving with electronic signature primarily involves savings on the costs of administration and capital costs with paper. Based on the information presented above, we can clearly notice that electronic signatures enable businesses to focus on productive tasks.

Electronic signature solutions also hold similar legal credibility as paper-based signatures. In addition, popular electronic signature solutions have formidable security safeguards, thereby assuring the integrity of all business documents. If you want to realign your organization’s strategic direction for the digital age, then adopt electronic signature right now!

Posted by Brian Felix, 0 comments
25
May
2020

Future-Proof Your Property Management Business with eSignatures

With a number of benefits for different sectors, electronic signature has also become a valuable tool for property management business. Here’re the best practices for property management with eSignatures.

Markets all over the world are currently floating in a state of uncertainty. Many estimates, projections, charts, and numbers have been churned out in the last few months to find out the possible impact of this global pandemic on the global economy. In general, markets will be affected, and the ones who are ready to brace for impact have the most probabilities of emerging out as winners.

Real estate is one of the noticeable sectors that could bear the brunt of the COVID-19 pandemic. However, opportunities for creating a sustainable edge lie in digital transformation. Are you ready to take your real estate business digital? Don’t worry. You can’t just start step by step. For example, property management with eSignatures would be a pretty good start! E-signatures reduce the cost burden on an enterprise that can be exceptionally helpful in this scenario.

Read Now: Top Reasons to Go Paperless

Best Practices for Property Management with ESignatures

However, do you know the best practices for using electronic signatures to recession-proof your property management business? The following discussion outlines different pointers that can help you find out the ideal applications for leveraging e-signature functionalities in organizing your property management business.

  • Quick Access and Sharing of Documents

The first important concern of a property business owner is the management of paperwork such as contractor timesheets, leases, and invoices. However, you can simplify this aspect of property management with eSignatures. Modern e-signature solutions offer flexible storage options such as quick-access templates.

The templates offer easier organization of the documents that you need frequently, and cloud storage adds up the advantage of accessibility. You can use any device connected to the internet to access the required documents and send them. Most important of all, you can make any modifications or changes in the documents on the go. Therefore, you have a prominent administrative benefit by adopting electronic signatures.

Also Read: Why to Adopt Electronic Signature for Your Business

  • Effective Integration with Existing Technology

Resistance to new technology can create prominent barriers to the adoption of paperless property management. If you are accustomed to the use of traditional tools such as MS Word, then paperless solutions can create confusion. However, you can use electronic signature solutions that offer comprehensive integration with all departments in your property management business.

The benefits of eSigning for property management are also evident in the facility of collaboration between different departments. E-signature solutions help in sharing documents within seconds while keeping all departments of your business on the same page.

  • Easy to Learn

Another notable reason to organize your property management business with e-signatures is the simple learning curve. You don’t have to learn coding or any complex programming concepts to use electronic signatures. Popular e-signature solutions in the market offer simple and easy-to-use GUIs (Graphic User Interfaces). So, you need basic knowledge of computers and security certificates and most important of all, the functionalities of e-signatures to use them. Therefore, within no time, you can learn to optimize your approaches to property management with eSignatures.

There are a number of myths about the e-signature. Here we cover the top electronic signature myths and facts behind them.

  • Faster Completion of Lease Agreements

Lease agreements are also one of the toughest parts of the property management business. Furthermore, the situation can become more complex when the number of tenants moving into an apartment or a home increase considerably. Now, you can easily complete lease agreements by accessing templates for lease forms. Property managers have to adopt property management with eSignatures to find custom-tailored lease agreement forms.

Furthermore, the assurance of legal validation for the lease agreement forms and the legality of electronic signatures strengthen the credibility of paperless lease agreements. You can highlight the important parts in the lease agreement form such as name, location, time of signing, and the request for signatures from all involved parties.

  • Monitoring the Workflow

Property management business is not all about selling and buying properties. As you all know, a lot of work goes into the property management industry such as plumbing, electricity, construction, and maintenance work. Therefore, you would find that the management of work at different locations is not an easy task. However, property management with eSignatures is a lot easier as you can monitor hours of work easily.

Contractors can upload their worksheets at the end of each tracking period through an e-signature solution app on their phone or desktop. Then, contractors send the worksheets to property managers. So, electronic signatures not only save you a lot of time and effort but also provide you with transparency into every area of work in your organization.

Also Read: Top 10 Uses of Electronic Signatures

  • Following Up With Clients and Reminders

Well, we discussed already how easy it is to send lease agreements to tenants with electronic signatures. However, many of the agreements don’t get a reply. So, you cannot just pile up the paperwork unnecessarily lying on your desk. E-signature solutions let you review the number of people who have signed a particular document.

In addition, you can also find out the people who have not submitted their signature for the document. Therefore, it becomes easier for you to follow-up with them and sending them a reminder notification. As a result, you can notice that you address the redundant workload, thereby increasing the productivity of your business.

  • Security

Security is undoubtedly one of the formidable concerns for property management business. Legal documents, sensitive information, and disclosures in the property management business are vulnerable targets for cyber threats. However, contemporary e-signature solutions offer safeguards such as digital certificates and encryption of communications between the sender and recipient.

Furthermore, credible methods for identity authentication and verification to sign a document also offer assurance of security with e-signature. Most important of all, electronic signatures provide a comprehensive audit trail report. The report outlines all details about the changes in any document and the users responsible for different modifications. As a result, you can also develop comprehensive safeguards for property management with eSignatures.

It is important to look into the security factors while choosing an electronic signature solution for your business. Here are the top points you should consider while choosing an e-signature vendor.

Bottom Line

The times frequently change in the world of real estate. However, property managers should take preemptive measures to ensure safeguards against the potential fluctuations in market trends. Digital transformation through the use of electronic signatures should align with the recommended best practices for the property management industry like the ones mentioned above.

However, you should also invest adequate efforts in checking the validity of electronic signature software. Check for the reviews and testimonials of existing customers of top e-signature solution providers. You can definitely find out the ideal solution that fits your requirements.

So, start exploring now and prepare your real estate business against a possible recession with electronic signatures!

Posted by Brian Felix, 0 comments
21
May
2020

What Makes an Electronic Signature Legal?

The legality of an electronic signature is an important concern while using electronic signatures. Let’s have a discussion on what makes an electronic signature legal.

Electronic signatures have completely revised the conventional notions surrounding many business operations. Nowadays, the drive towards digital transformation is gaining momentum, and the benefits of cost-effectiveness with digital transformation could introduce new avenues of competitive advantage for enterprises worldwide. However, the adoption of electronic signatures encounters many prominent setbacks.

One of the notable pitfalls in the adoption of electronic signatures is ‘what makes an electronic signature legal’. The signature is one of the most authentic indicators of the consent of an individual. Therefore, replacing the traditional paper and ink signatures with electronic signatures definitely creates doubt about the latter’s legality.

So, you need to clarify all important details regarding the legality of an electronic signature to ensure a comprehensive adoption. The following discussion aims to outline certain factors that answer your question of ‘what makes an electronic signature legal’.

There are a number of reasons to adopt the electronic signature. Here are the top 10 reasons why you should adopt Electronic Signature for Your business.

What are Electronic Signatures?

Before investigating the legality of electronic signature, it is essential to know what it is first! An electronic signature is a virtual representation of a paper-and-ink signature. You can use an e-signature tool for signing a document with a mouse click or drawing your signature digitally.

According to the legal definitions, an electronic signature is a form of electronic data that is associated logically or attached to a contract or other records. However, the definition of electronic signature does not shed adequate light on its legality as we would discover later in the following discussion. On the other hand, some readers might be wondering about the reasons to investigate into the legality of electronic signatures.

According to a Capgemini study, companies using digital solutions are capable of achieving 26% higher profitability and 12% higher market evaluations. With such benefits, it is inevitable to focus on the legality of e-signatures, isn’t it?

Legal Background for Electronic Signatures

The legal instruments for validating e-signatures can provide an answer to ‘are electronic signatures legally binding?’ perfectly. Electronic signatures have been legally valid like traditional signatures for quite some time now, with many laws and regulations worldwide.

The Electronic Signatures in Global and National Commerce (ESIGN) Act of 2000 in the US ensures that e-signatures are legally valid in all states subject to federal law. In the case of states where federal law is not applicable, the Uniform Electronic Transaction Act (UETA) serves as the legal precedent for validating electronic signatures.

Furthermore, countries all over the world have developed their own regulations for governing the use of e-signatures. For example, the Information Technology Act in India or the UN Model Law on Electronic Commerce showcases the diverse legal instruments for proving the legality of electronic signatures. These laws present important specifications that provide you clear answers on what makes an electronic signature legal.

Also Read: UETA and ESIGN Act

Understanding What Makes an Electronic Signature Legal

Now, let us arrive at the most important part of our discussion, i.e. the important requirements for the legal validity of electronic signatures. With the help of these factors, you can determine valid answers to questions such as ‘is a typed signature legally binding’.

  • Intent to Sign

The first requirement for an electronic signature to be legally binding is the user’s intent to sign. Just like a traditional paper-and-ink signature, an electronic signature is valid only if the signatory does it with a purpose. The signatory should sign the concerned document deliberately for establishing their intent to sign it.

In certain cases, you may have to type your signature and then click on a prominent ‘Accept’ button, thereby indicating your intent to sign the document. You can also draw your signature with a mouse and then click on the ‘Accept’ button in your chosen e-signature software. Regardless of the technology you use, the most critical factor is to communicate your ‘intent to sign’ clearly.

  • Consent for Electronic Transaction

The next important factor in ‘what makes an electronic signature legal’ is the consent of involved parties to participate in an electronic transaction. Many popular e-signature solutions notify users for confirming their consent before signing.

There are a number of myths associated with the use of electronic signatures. Let’s understand the top 10 Electronic Signature Myths and Facts.

  • Audit Trail

One of the foremost aspects of proving the legality of an electronic signature is the audit trail. The audit trail is also an essential requirement to have the assurance of a secure electronic signature. Therefore, you have to provide detailed attributes for an electronic signature.

The attributes can include the context and circumstances of signing a document. The audit trail helps in recording the details of the signer’s email ID, device IP address, signature timestamp and time of modifications in the document.

  • Association with Records and Documents

As per the legal definition of electronic signatures, the association with a document is what makes an electronic signature legal. A standalone electronic signature does not have any legal validity or significance of its own. Therefore, it is essential to ensure that electronic signatures are associated with required documents.

  • Record Retention

The final requirement for validating the legality of electronic signatures is the retention of records. You need to have ideal procedures and systems for reproducing the records associated with electronic signatures. Therefore, the e-signature solutions you use for capturing signatures should also have capabilities for the collection and storage of associated documents.

Also Read: Cost-Saving Benefits of E-Signature

Are You Ready to Adopt Electronic Signatures Now?

Therefore, you can find your answers to ‘what makes an electronic signature legal’ on the basis of the above-mentioned information. In the long run, electronic signatures would be the norm in business transactions worldwide. So, it is important for enterprises to review all the implications of using electronic signatures.

Alongside the effectiveness of different e-signature solutions, knowing the legality of e-signatures can strengthen and diversify your journey of choosing an e-signature vendor. For one, you would know the best practices and most important of all; you can be sure that your electronic signatures would stand in any court of law.

Start leveraging the power of e-signatures to transform your business right now!

Posted by Brian Felix, 0 comments
18
May
2020

Tips for Using Electronic Signatures

Not to mention, an electronic signature can help businesses in so many ways. Go through these top electronic signature tips that will help you get the best of the e-signature!

Many advancements of technology continue to reform the way businesses operate. Technology has had a prominent impact on different business operations ranging from marketing and supply chain management to marketing. One of the most noticeable ways in which technology has brought significant changes for modern businesses is the electronic signature.

If you know the right electronic signature tips, you have a better chance of using them for various advantages. Electronic signatures are the new-age solution for signing digital documents and streamlining the business process flow for various enterprises. However, there are many doubts that pop up about different aspects, such as the validity of electronic signatures.

Also Read: Why to Adopt Electronic Signature for Your Business

Top Tips for Using Electronic Signatures

The proper awareness about e-signatures and the ideal tips for using e-signatures without any apprehensions are necessary. These steps can help you in leveraging electronic signatures as a vital tool for boosting your productivity. The following discussion dives into some crucial tips for using electronic signatures. As a matter of fact, the pointers in the following discussion would reflect on the important answers that you must have before using electronic signatures.

  • The legality of E-Signature Solutions

The first entry in any discussion on electronic signature tips should always focus on the validity of electronic signatures. Actually, you can find your answers to a lot of questions about the nature of electronic signatures. Any digital form of your signatures such as a scanned image or computer-generated image does not qualify as an electronic signature.

In such cases, it would be difficult to anticipate the integrity of the electronic signature as you could not be sure of the identity of the actual signatory. Therefore, always choose e-signature solutions that use technology based on e-Signature patent enacted legally in 2000 through the ESIGN Act. The patented technology makes sure that an individual electronically signs a document rather than just capturing their intent to sign with the e-signature solution.

Read the full ESIGN Act document here: https://www.govinfo.gov/content/pkg/PLAW-106publ229/pdf/PLAW-106publ229.pdf

  • Need for Digital Certificates

Another prominent concern that emerges among promising electronic signature tips refers to the facility of digital certificates. The security of transactions using e-signatures is of paramount importance to any organization. Therefore, you should know that an electronic service solution would provide you with digital certificates for every transaction. These certificates are highly crucial for proving the validity of an electronic signature.

Generally, the solution provider would include the cost of digital certificates in the annual licensing costs. As a result, you can have a proven approach for avoiding electronic signature legal issues. In addition, you should also note that digital certificates for e-signatures are generally valid for two years. The solution provider would renew the certificates at an additional charge included in your annual licensing costs.

There are a number of myths associated with the use of electronic signatures. Let’s understand the top 10 Electronic Signature Myths and Facts.

  • Concerns of Data Captured with E-Signatures

Readers should note that one of the prominent concerns among e-signature tips is security. One of the important tenets for security with e-signature refers to the data captured with the signature. Furthermore, the data breaches at notable tech giants such as Facebook, Google, and LinkedIn imply the need for additional carefulness.

It is important to note that the e-signature solution provider determines the type of data captured in your electronic signature. Generally, you can find that e-signature solution using the patented e-signature technology capture seven different types of metadata. The metadata is legally binding and can help considerably in proving the validity of e-signature in court.

  • Search for Comprehensive Audit Trails

The next critical thing that you should focus on in electronic signature tips is the audit trail. The audit trail or chain of custody is not just a feature of e-signature solutions that you can keep at the sideline. Audit trails help you validate the authenticity of a document with an electronic signature and participants in signing and modifying the document. Therefore, it is advisable for all enterprises and individuals to opt for e-signature solutions having extensive audit trails.

The audit trail is also one of the important aspects of the answer to ‘what makes an electronic signature legal’. Detailed audit trails with the use of Blockchain technology can provide legitimate and clear insights on time and place of changes in a document. In addition, you could be sure of the integrity of audit trails that use Blockchain technology because of the fact that it is immutable.

Also Read: Top Questions You Should Ask Your E-Signature Vendor

  • User Verification and Validation

Among the many prominent concerns for users of electronic signatures, the verification and validation of users are also noteworthy. Therefore, electronic signature tips also imply the need for selecting e-signature solutions with additional functionalities for user verification and validation. You can do this just by creating an account and taking a look at various steps for signing a document. If you can sign on an e-signature solution without registering for an account or directly from the email you received from them, then it’s better to walk away.

  • Due Diligence on Your Behalf

Most of the time, users of e-signature solutions assume that their job is done after selecting the provider. However, users have to follow the due diligence for the service provider on ‘how to collect electronic signatures’. The services of electronic signature solutions and your requirements may vary considerably, thereby leading to long-term discrepancies. On the contrary, if you put in some efforts for verifying the integrity of the process followed for collecting electronic signatures, then you have the best outcomes from the e-signature solution.

It is important to look into the a number of factors while choosing an electronic signature solution for your business. Here are the top points you should consider while choosing an e-signature vendor.

Ready to Avail the Benefits of These Electronic Signature Tips?

On a concluding note, readers could find substantial help in using electronic signatures from the above-mentioned information. Even if electronic signatures have been around for a while, there have been a lot of ambiguities regarding their validity and applications. The gradual rise in the adoption of e-signature solutions at a large scale indicates the need for enterprises and individuals to familiarize themselves with best practices for using e-signatures.

The above-mentioned electronic signature tips can help you get everything right with the use of e-signature. As you must have noticed, these pointers are not some magical tricks to get your e-signature right without having to lift a finger. Users of e-signature solutions are also equally responsible for safeguarding the integrity of electronic signatures.

Therefore, it is important to engage in thorough research and uncover additional best practices for using electronic signatures. In the long run, e-signatures will replace traditional ink-based signatures completely, especially for businesses. Get ready right now for leveraging the seamless benefits of e-signature tomorrow!

Posted by Brian Felix, 0 comments
11
May
2020

Importance of Electronic Signature for Education Sector

Electronic signature has a number of benefits for different industries and sectors. Here’s the importance of electronic signature for education sector.

Educational institutes are gradually improving the adoption of new technology for improving their efficiency at the academic and administrative levels. Students, as well as parents and teachers, are becoming exceptionally aware of new technology. In addition, they also know considerably about communications online through different devices such as computers, mobile phones, and tablets.

As the education landscape is gradually gearing towards digital transformation, it is inevitable to learn more about the significance of electronic signature for education sector. The administrative concerns of the fastest-growing education industry would have to transform radically according to the demands of students for a digitized experience.

Also Read: Cost Saving Benefits of E-Signature

How Important is Electronic Signature for Education Sector?

Electronic signatures are presently the most relevant instrument for transforming paper-based processes in the education industry. E-signatures can help in the reduction of the need for paper, streamlining transactions, and reduction of form errors. So, let us take a look at the other potential reasons for answering ‘why to adopt electronic signature for education industry?’ in the following discussion.

  • Streamlining the Application Process

The foremost place where you can notice a major share of the paperwork in the education industry is the application process. Student applications primarily rely on traditional pen-and-paper signatures which offer considerable setbacks for students and staff alongside ensuring disruption of the process flow.

By going paperless with the help of electronic signature technology, you can send important student documents and sign them in seconds. The application of an electronic signature for education sector could also ensure efficient monitoring of application forms. If any forms or documents are not signed, then the e-signature service can automatically notify parents and students to sign the application.

In addition, the e-signature solutions can provide efficient and simpler document tracking services in real-time for avoiding any disruptions in the application process. Therefore, educational institutions can gain better visibility and speed alongside streamlining the application process.

  • Process Automation for Reducing Risks

The most notable entry among the benefits of electronic signature for education industry refers to process automation. Various education institutions want to start automation of workflows for ensuring reliable administrative processes. Electronic signature platforms take away the paper-based transactions, thereby providing a reduction of potential errors.

Conventional paper-based processes include different costs, including that of paper and ink, shipping and postage costs, and costs of printer maintenance. The majority of costs are related to the manual approval processes that could be easily eliminated through e-signature solutions.

In addition, you can also find other opportunities for indirect savings such as the time needed for filling every document manually, repeated inputs of data, and tracking down the lost documents.

There are a number of reasons to adopt electronic signature. Here are the top 10 reasons why you should adopt Electronic Signature.

  • Secure Communication and Verification of Documents

The next critical aspect that validates the need for electronic signature for education sector refers to security. The information in databases of educational institutions includes student and staff data alongside other crucial documents that need safeguards against theft.

Electronic signature solutions allow institutions to share important documents with parents whenever needed. Most important of all, the facility of audit trails in electronic signatures helps in monitoring all crucial details of a signature. Users of electronic signature solutions could find out the signatories in the document alongside the time and location of the signing.

The improved security functionality of electronic signature solutions provides better protection against notable threats such as document tampering and misplaced or missing documents. Furthermore, you have to understand that electronic signatures reduce the possibilities of misplacement or tampering through posting a document for signature offline.

  • Comprehensive Integration with Institutional Processes

Modern electronic signature solutions provide reliable support for integration with various technologies in educational institutions. Various educational institutions have various departments by leveraging different technologies and systems.

Electronic signature for the education sector introduces potential advantages for integrating various solutions in the large-scale deployment of the functions of various departments. The important solutions that can integrate effectively with various administrative processes of an educational institute include document management systems, enterprise content management, student records management, and sales automation.

You don’t have to worry about the integration process with the latest, sophisticated electronic signature solutions. As a result, educational institutions can ensure comprehensive digital transformation with coverage of all its administrative and education processes.

  • Faster Approvals for Research Proposals

Many educational institutions need funding for their research proposal. However, the levels of scrutiny are increasing considerably alongside a rising trend of budget cuts for educational institutions. Therefore, researchers need promising solutions to deliver their work earlier to relevant parties.

It can help in the identification of any conditions that have not been met in the initial stages of the process. As a result, you can ensure better accuracy and punctuality in the submission of research proposals. Therefore, the importance of electronic signature for the education sector is clearly evident in the better delivery of research proposals.

In the long-term, the efficiency of delivering research proposals could introduce noticeable innovations and advancements.

Also Read: Future of Electronic Signatures

  • Driving Better Mobile Accessibility

Students, parents, and teachers are joining the digital revolution by making the most of their mobile devices. They can utilize digital devices for various important tasks related to education such as applications, payments, and registrations. Administrative personnel in educational institutions could also gain productivity with mobile-enablement.

The facility of mobile apps by notable electronic signature solutions enables easier execution of crucial processes in the education sector. Students could interact flexibly with the management of an educational institution effectively.

  • Better Reputation of Institution’s Brand

Finally, the need for an electronic signature for education sector is reasonably evident for improving the reputation of an educational institution. The adoption of e-signature solutions offers credible advantages for establishing an institution as a frontrunner in digital transformation.

As a result, educational institutions can communicate values that align with the interests of students and parents. Maintaining a digital platform for operations also establishes its environmental responsibility, thereby strengthening the importance of electronic signatures.

Thinking to adopt electronic signature for your business? Here are the points you need to consider while choosing an e-signature vendor.

Are You Ready to Adopt Electronic Signature for Education Sector?

Now, you could clearly notice the significance of electronic signature for education sector. The prominent benefits of electronic signature outlined above, showcase that electronic signatures offer reliable support for the digital transformation of educational institutions. The wide range of applications of electronic signatures in the educational sector provides the basic foundation for adopting electronic signatures.

In addition, the assurance of security would also provide reliable support for students, parents, and institutions. Educational institutions can find considerable advantages such as improved financial performance, reduction of operational costs, and expansion of student services.

The electronic signature solutions also offer additional visibility into the processes in the educational sector. On the other hand, students can find better opportunities for interacting with institution management alongside focusing more on studies. Start exploring more information about electronic signatures right now for long-term benefits!

Posted by Brian Felix, 0 comments
07
May
2020

10 Things To Know Before Using Electronic Signatures

Thinking to adopt an electronic signature for your business? Here’re the top 10 points you need to know before using electronic signatures.

Technology has been a major driving factor in changing the approaches for conducting business. The impact of technology is evident in different aspects of business operations such as supply chain management, marketing, and end-user delivery.

One of the most striking technological interventions in recent times refers to electronic signatures. Electronic signatures have completely revolutionized document management for enterprises.

Points to Consider Before Using Electronic Signatures

There are many concerns that enterprises should take into account before using electronic signatures. Organizations can gain prominent benefits from electronic signatures if they know about e-signatures comprehensively.

The following discussion reflects on ten important things that you should know before using an electronic signature solution.

Also Read: Cost Saving Benefits of E-Signature

  • Real Nature of Electronic Signatures

One of the first things to know before using electronic signatures is that a digital copy of your signature pasted on a document does not qualify exactly as an electronic signature. As a matter of fact, the digital copy of your signature only implies your intent to sign the document. However, the receiving party does not have any form of validation that the signature is yours.

So, the receiving party does not have any idea about whether they should accept that signature or not. Therefore, it is important to know that real electronic signatures comply with the ESIGN Act introduced in 2000. E-signature solutions compliant with the ESIGN Act allow for validation of electronic signature for a document alongside capturing the intent to sign.

  • Need for 3rd Party Security Certificates

Many enterprises rely on a third party for validating a transaction to address the concerns of security. Digital certificates by third party providers prove that an image of your signature is now placed on a specific document. The cost of such digital certificates comes with the annual license cost alongside a validity of two years.

However, while using electronic signatures, you should note that digital certification does not have any legal standing. Digital certificates cannot prove that a particular e-signature is yours and only you have signed it and not anybody else. So, you need to have a good knowledge of the E-Signature Security Checklist and Rules.

  • Cost of Third-party Certificate

Readers must now be wondering about the necessity of paying for digital certificates when they are not valid proof of a signature. Actually, the electronic signatures hold legal validity when they are active. If a user stops using the electronic signature service, then the digital certificates expire.

So, if users have to produce a valid digital certificate for a document in such cases, then they can be in trouble. However, the majority of e-signature solutions in the market charge users for a period of non-renewal or inactivity. As a result, you can produce the digital certificate as a valid representation of your electronic signature.

Must Read: Top 10 Electronic Signature Myths and Facts

  • Data Captured in Electronic Signature

Apart from the question that “do electronic signatures hold up in court”, users of e-signature solutions are concerned about security issues. Data breaches have become a common threat to digital information. Therefore, the data captured with electronic signatures is one of the paramount concerns for users.

The demand for premium e-signature solutions with better safeguards for privacy and security is increasing. Patented electronic signature solutions capture various types of metadata that can help in enforcing the legality of documents.

  • The Integrity of Electronic signatures

One of the notable things to know before using electronic signatures is the audit trail. The audit trail establishes the integrity of electronic signatures and is a mandatory component of renowned e-signature solutions.

Therefore, you should choose e-signature solutions that provide detailed audit trails. The introduction of Blockchain technology for producing audit trails would ensure additional safeguards for the integrity of electronic signatures.

The adoption of electronic signature can bring so many benefits for businesses such as e-invoicing. Here are the top benefits of e-invoicing for businesses.

  • Delay in the Verification of E-Signatures

Generally, you can find legal troubles with a transaction years after and you have to produce a proof for the e-signature. However, users don’t have to worry about the legal enforceability of e-signatures as long as they can produce the digital certificate for the transaction. Furthermore, access to the free version of e-signature solutions can assist with an explanation of the verification and validation process for electronic signatures.

  • Checking for Tampering

One of the notable concerns while using electronic signatures that get ignored is tampering. Many customers of e-signature solutions do not ask questions about tampering with the documents such as signature forging.

Therefore, it is essential to ask for due diligence on behalf of the e-signature solution provider. Even if it costs some additional money, it is worth the investment to safeguard your sensitive business documents. The anticipation of the challenges is a proven measure for addressing them!

Also Read: Digital Signature vs Electronic Signature

  • Verifying the Identity of the Sender

Users should prefer e-signature solutions that provide additional measures for verification and validation of users. Avoid any type of solution that allows users to sign without creating an account. Trustworthy e-signature platforms verify the identity of users before the creation of an account. So, you should never risk safety while using e-signature solutions.

  • Storage of documents

E-signature solutions that provide assurance of protection of your documents can provide reliable storage for your documents. You have to check for their compliance with the standard benchmarks for data protection such as GDPR.

  • Denial of Proof

Even if someone denies that they did not sign the document with an e-signature, then the audit trail is there to help you. The use of Blockchain technology in sophisticated electronic signature solutions is a foremost tool for proving the integrity of e-signatures. Extensive audit trails can also provide legal proof of a signature.

It is important to look into the security factors while choosing an electronic signature solution for your business. Here are the top points you should consider while choosing an e-signature vendor.

Ready to Use Electronic Signatures?

Therefore, you can clearly notice the important factors to consider before using electronic signatures. The first factor is legal enforceability and is the most significant one. Users have to check for the compliance of e-signature solutions with legal precedents for e-signatures such as the ESIGN and UETA Act. The second important factor refers to the validity of electronic signatures.

However, users can address the concerns of validity by selecting premium electronic signature services which also address the third significant factor, i.e. security. The facility of extensive audit trails and secure verification and validation of users in e-signature solutions can prove the reliability of an e-signature provider.

Therefore, you could easily find out an e-signature solution that can fulfill your requirements in the above-mentioned areas. Start searching right now!

Posted by Brian Felix, 0 comments