Brian Felix

22
Jun
2020

Maintain Social Distancing with Electronic Signatures

Since the declaration of the global COVID-19 pandemic, many enterprises have been striving hard to cope with social distancing norms. The majority of the workforce is presently working from home, and enterprises have to come up with reliable solutions for their convenience. One of the prominent concerns that have emerged in the event of the COVID-19 pandemic is the potential of electronic signature in social distancing.

Enterprises relying heavily on paper-based document processing should go paperless with electronic signatures for ensuring the safety of employees alongside presenting better prospects for operational efficiency during COVID-19. The following discussion aims to help you identify the important factors validating the credibility of electronic signatures as a feasible solution for enterprises in present times.

Also Read: Importance of Electronic Signature in Lockdown

Benefits of Using Electronic Signature in Social Distancing Environment

Before we move towards the discussion on the use of electronic signatures during the times of coronavirus, it is important to find out their definition. An electronic signature is any electronic data associated with a digital document as a sign of verification of the intent of a signatory to sign the document.

Based on this definition, an electronic signature could take different forms that enterprises could select according to their requirements. The use of electronic signature in social distancing would provide multiple flexible options for enterprises to execute e-signatures. However, before reflecting on the options for using electronic signatures, let us find out the reasons to do so.

  • Electronic Signatures are Legally Permissible

Among the many doubts that can arise regarding an electronic signature in social distancing environment, the legal validity of electronic signatures is the foremost. The legal validity of e-signatures is at par with wet-ink signatures on paper. In addition, many regulatory precedents also dictate the legality of electronic signatures in different parts of the world.

For example, the ESIGN act clearly outlines the requirements for the legality of electronic signatures in the US. Similarly, in the EU, you can find the eIDAS regulations for proving the legality of e-signatures. However, you have to follow some essential measures to verify the legal nature of electronic signatures.

The electronic signature must be associated with a clear intent of the signatory to sign the document. In addition, the document must also follow the basic legal precedents that are applicable for paper-based signatures. For example, you must have witnesses for the electronic signature process to verify their legality.

However, you don’t have to worry about the verification of signatory’s identity with the use of electronic signatures. Modern e-signature solutions provide effective documentation of all steps in a signature process. Therefore, you can easily assure that the signatory is authentic, thereby strengthening the legal validity of your e-signatures.

Businesses can adopt and use electronic signatures in many ways to leverage its benefits. Here are the Top Uses of Electronic Signatures.

  • Assurance of Security

Security is a prominent concern for enterprises to consider the use of electronic signature in social distancing. Since workers wouldn’t work in close proximities during the COVID-19 pandemic, it is reasonable to focus on the pitfalls that can arise due to security. Inappropriate placement of documents and tampering or unauthorized compromises in sensitive business information are some of the examples of security threats for enterprises. You have to consider the importance of modern e-signature solutions in this case with the facility of comprehensive audit trails.

You could clearly notice the various attributes for an electronic signature with the help of an audit trail. The audit trail can offer insights on the time, location, and date of signing a document and the identity of signatories. In addition, the audit trail could also present a detailed outline of all modifications in the signature over its lifetime. As a result, you can ensure limited threats for compromises in sensitive business information with electronic signature solutions.

  • Lots of Cost Savings

The next important reason to consider the relationship between social distancing and electronic signatures is cost-effectiveness. Electronic signatures can help you avoid the cost of purchasing paper and printing supplies. In addition, you would also save a lot on the equipment required for the creation and processing of paper-based documents. You should also note that you can save money on the infrastructure for storage and maintenance of paper-based business documents.

The cost savings through the use of electronic signature in social distancing can help organizations cope with financial uncertainty in market trends. Your savings through electronic signatures can prepare the perfect landing pad if you face the distress of the financial recession that would accompany the events following the COVID-19 pandemic.

Also Read: Cost Benefits of Electronic Signature

  • Better Employee Productivity

The importance of electronic signature during lockdown also becomes a prominent highlight due to its potential for improving employee productivity. With the time saved from creation, processing, and sending paper-based business documents can be helpful for focusing on core business operations.

Employees can use their additional time to innovate new solutions for existing pain points of the business. In addition, employees would find substantial time to focus on their roles and responsibilities in the job. As a result, employee satisfaction would improve considerably as they would not have to do redundant tasks.

  • Effective Data Recovery

The final and yet most significant reason to consider the use of electronic signature in social distancing for COVID-19 is the assurance of effective recovery. In the case of physical disasters such as fire and water damage, it can be difficult to recover paper-based documents.

On the other hand, cloud-based storage of electronic signature solutions can provide the assurance of reliable disaster recovery. In the event of a disaster, electronic signature solutions can provide a safe recovery of your important business documents. The promise of higher availability of business documents and seamless accessibility are enough reasons to use electronic signatures right now.

Still confused about whether you should adopt electronic signature or now? Check out the top reasons to adopt electronic signature for your business.

Best Practices for Leveraging Most of Electronic Signatures

The above-mentioned reasons for using electronic signature in social distancing are proof of their potential. However, you should also notice the important factors for ensuring the effective adoption of electronic signatures. It is essential to understand that the transition to electronic signatures would be a profound technology change for employees. Therefore, the recommended best practice to start using electronic signatures is to consider it as a change management project.

  • Limit the Signing Authorities

The next step for any enterprise in using electronic signatures must be aligned with a detailed evaluation of the signing authorities in the organization. The enterprise should aim to reduce the number of authorities, who are legally obliged for signing on behalf of the organization. This step is an important requirement for organizations to reduce the inappropriate use of electronic signatures.

  • Focus on Training of Employees

Organizational policy changes and education of employees in the use of electronic signature solutions are mandatory processes for leveraging the maximum potential of electronic signatures. Employees should understand the benefits of electronic signatures and the approaches followed by the e-signature platform adopted by the organization.

  • Review the Compliance of E-signature Solutions

Finally, enterprises should also review the compliance of the e-signature solution they select. Legally abiding e-signature solutions offer an additional level of security and assurance of document integrity.

Thinking to adopt an electronic signature for your business? Here are the 10 things you should know before using electronic signature.

Maintain Your Competitiveness with Electronic Signatures

Therefore, you can clearly notice the various important reasons to pursue the use of electronic signature in social distancing. The times are really uncertain now, and there is no sign of businesses opening their workplaces soon. So, electronic signatures are a reliable option for continuing business operations unhindered during the lockdown.

Many crucial benefits of electronic signatures for employee productivity and cost savings of a business can support an enterprise in these uncertain times. In the long run, enterprises can expect the adoption of electronic signatures as a viable business tool. It is essential to think about getting the advantage right now when you need it the most.

Choose the best e-signature solution according to your requirement and steer your business through tough times due to COVID-19!

Posted by Brian Felix, 0 comments
17
Jun
2020

Importance of Electronic Signature during Lockdown

The global COVID-19 pandemic has created massive disruptions across the world in various sectors. Most important of all, the pandemic has had a prominent influence on our daily lives and the way we work. The significance of electronic signature during lockdown has turned into a prominent topic of debate for many reasons.

As a precautionary measure against coronavirus, many organizations have implemented reformed work policies emphasizing on social distancing. So, it is obvious that you would find a large share of the world’s workforce is presently working from home.

Also Read: Need for Electronic Signature Solution for you Organization

While connectivity and seamless technology integration offer comprehensive work experience for employees, the pitfalls in signing and processing of various documents, contracts, and legal agreements continue to be prominent challenges for enterprises worldwide. Therefore, electronic signatures can serve as a very promising alternative in the times of COVID-19 for signing and processing business documents.

However, there are many doubts regarding the use of electronic signatures during and after COVID-19. The enterprises are uncertain about the duration for which COVID-19 would prevail over the world. Therefore, enterprises could not compromise with their business operations owing to restrictions on physical document signatures. The following discussion attempts to solve the general doubts arising regarding the significance of electronic signature during COVID-19.

Is It Necessary to Use Electronic Signatures during Lockdown?

The first aspect that we have to consider in this discussion is the feasibility of using electronic signature during lockdown. An organization generally deals with many documents, varying in lengths from one page to 500 pages, in a single day. In addition, employees have to ensure that after creating the documents, they should be printed, signed, and then scanned alongside sending their hard copy to all the involves parties through the mail.

Without the ability to move outside the house or access to a home printer or scanner, workers can face many notable setbacks in processing important documents. Electronic signatures can serve as a promising solution in these circumstances by helping process transactions outside the office environment. You don’t need any printers or scanning, and you can stay at home for your safety with the use of electronic signatures. That is a formidable proposition in times of COVID-19.

What are Electronic Signatures?

The foremost factor that you should understand to obtain clarity regarding the importance of electronic signature is understanding what is electronic signature. There are various ambiguous definitions of e-signatures, depending on the legal precedents in concerned jurisdictions. However, the most basic definition of an electronic signature is that it is any type of electronic data that can be associated with a digital document, showcasing the intent of the signer to sign the document.

You can find different examples of e-signatures, such as an individual typing their name into a specific contract. An electronic signature could also be a scanned image of the physical signature of an individual which is associated with an electronic document. The signatures created through e-signature platforms also qualify as electronic signatures if they fulfill all the necessary criteria for legal validity.

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

Legal Validity of Electronic Signatures

Legal validity is one of the first questions that arise regarding the use of electronic signature during lockdown for COVID-19. However, an electronic signature bears the same legal validity as wet-ink signatures, given that it fulfills certain criteria. The person signing the document should express their intent to sign the document electronically through an explicit method in the signing process.

For example, clicking on an “I Agree” button could be an expression of intent to sign the document. The next important condition for the legal validity of an e-signature is its alignment with the formalities of the law. You should follow all legal procedures for signing electronically just like you would have for paper-based signatures. For example, abiding by the legal precedents of witnesses for attesting a signature is one of the important requirements with an electronic signature also.

Also Read: What Makes Electronic Signature Legal

Security Concerns with Electronic Signatures

The next important consideration for enterprises to adopt electronic signature in social distancing environment is security. Transferring crucial business documents through digital platforms and the verification of the identity of signatories are prominent doubts regarding e-signatures. However, you need to reflect on the capability of e-signatures to provide detailed audit trails.

The audit trail for every electronic signature can showcase the date, time, and location of signing. In addition, it can also present important information regarding the modifications made in it precisely. You can use the audit trail as an effective instrument for verifying the credibility of every electronic signature. In addition, you should also note the use of advanced authentication and verification processes by major e-signature platforms as a reliable instrument for security.

These instruments can help you considerably in finding out the best solution for document signing and processing. For example, e-signature solutions with requirements for multi-factor authentication can help you ensure restrictions on unauthorized access to important business documents.

Read Now: E-Signature Security Checklist and Rules

Other Critical Benefits of Electronic Signatures

Now, you must have obtained a clear impression of the critical factors to support your decision of using electronic signature during lockdown. Electronic signatures are legally valid and also provide effective security mechanisms to safeguard business information. In addition to these benefits, you can also gain better advantages in terms of cost and productivity.

First of all, the reduction of dependence on paper-based documents can strengthen the productivity of employees in an enterprise. The time spent in creating, signing, processing, and sending paper-based documents could be utilized perfectly for core business objectives. The next important reason for which every enterprise should think of shifting to e-signature is cost reduction. Just imagine the amount of savings you would make by avoiding the cost of purchasing paper, printing supplies, and mailing costs.

In addition, you don’t have to invest in facilities for storage and maintenance of your business documents with e-signature solutions. Above all, electronic signatures ensure the safety of your business documents from physical damage or natural disasters. The cloud-based storage systems of modern e-signature solutions provide the assurance of higher availability and promising disaster recovery. Therefore, you can recover your documents safely at any time with electronic signature solutions.

Also Read: Cost Saving Benefits of E-Signature

Adoption of Electronic Signatures in the Present Situation

The adoption of electronic signature during lockdown can be a very critical decision for every enterprise. The sheer responsibility of overseeing a transition from paper-based to electronic signatures is overwhelming. Therefore, the best practice recommended for enterprises aspiring to leverage the flexibility and power of electronic signatures during this lockdown would be to explore their options.

The foremost concern for enterprises before the adoption of electronic signatures should be an internal review of organizational policies. Enterprises have to single out their legal obligations in different aspects of their company policy. In addition, they have to attempt at reducing the number of individuals with authority for legal obligations on behalf of the organization. As you advance gradually, you can explore the different options among e-signature solutions that come your way.

Still confused if you should choose an electronic signature for your business? Check out the top reasons to use electronic signature and get ahead.

Are You Ready to Use Electronic Signatures?

So, you can clearly notice that using electronic signature during lockdown is not only safe and legal but also cost-effective. The different benefits of electronic signatures are enough reasons to drive the decision of a company to use them. However, the journey of adopting electronic signatures can be a difficult one for enterprises.

Therefore, they have to follow the recommended best practices in change management for ensuring effective adaptability for new technology. In the long run, electronic signature solutions would be a crucial tool for every enterprise. There couldn’t be a better time to start using electronic signatures now and gain the most out of them!

Posted by Brian Felix, 0 comments
12
Jun
2020

Why do I Need Electronic Signature?

Modern technological advancements have had a prominent influence on the way of conducting business worldwide. The intervention of technology has helped in bringing about many critical changes in enterprises worldwide. So, if you are still wondering ‘why electronic signature’, then there are many things which are missing out on!

The arrival of electronic signatures has provided paperless solutions to one of the most intensive tasks of an enterprise i.e. paperwork. The cost and time factor involved in the creation, formatting, processing, storage, and maintenance of paper documents is a formidable negative aspect for the productivity of an organization.

Also Read: Cost Saving Benefits of Electronic Signature

Therefore, it is important to reflect on all the other potential reasons for using e-signature. The following discussion would present a basic impression of electronic signatures and the important reasons to use e-signature solutions.

What is an Electronic Signature?

Before we move forward in our search for answers to ‘why electronic signature’, it is important to reflect on the definition of electronic signature. Basically, you just need to know that an electronic signature is data in any form (sound, text, or symbol) associated or attached logically to a document and an individual uses it for signing a document electronically. It could be a token, a smart card, or an electronically typed signature that you can use for secure identification.

In addition, it also provides a cost-effective and efficient method for signing documents digitally. You need to know that the benefits of e-signature enable the transformation of hard copy of a document into digital form. Then, you can use the digital document for signing it in a way to preserve the integrity of the original document and the signer’s identity. There are literally thousands of definitions for electronic signatures, depending on the context.

Check out our previous article to know more about Electronic Signature.

So, it is reasonable for you to encounter confusion regarding the differences between e-signatures and digital signatures. As a matter of fact, digital signatures are a type of electronic signature and have distinct traits in terms of legal status. In the case of e-signatures, you have to provide additional evidence for proving their legal status.

Answering “Why Electronic Signature”

However, digital signatures do not need any such requirements for proving legal status. So, are these factors enough to drive your interest in electronic signatures? Most likely, No! So, let us focus on the following pointers that showcase the importance of electronic signature.

  • Better Security

One of the first claims made by enterprises against the proposition of ‘why use electronic signature for your business’ relates to security. Enterprises, small or big, have to transfer confidential and sensitive information for signing and receiving back.

As compared to conventional methods such as postal service, fax system, or internal mailing within an organization, e-signatures are secure. Electronic signatures involve the use of encryption for sensitive documents, thereby safeguarding them from any unauthorized modifications.

  • Comprehensive and Detailed Audit Trail

The next important factor for considering the need for electronic signature is the availability of a clear audit trail. You can access an in-depth audit trail for e-signatures that can provide complete transparency regarding the modifications in the document. Therefore, you can clearly perceive the signatories of the document and the time and location from which they sign.

The audit trail is a prominent benefit that provides a definitive answer to ‘why use electronic signature’. It is also important to note that awareness and recording of the signing process could help in safeguarding an organization in terms of legal and compliance perspectives.

  • Improved Time Management

Electronic signatures are not preferred only for security and legal validity aspects but also for their contribution to time management. Many areas of business operations require exceptional speeds and electronic signatures are capable of providing this benefit. How? By cutting out on the use of paperwork and ensuring faster processing of documents, electronic signatures can save a lot of time.

The most important factor is that you don’t have to wait longer for receiving signed documents. Some readers might be wondering about the possibility of errors due to such rapid pace of transactions with electronic signatures. On the contrary, importance of electronic signatures becomes more prominent with the facility of better accuracy.

Signatories would have to fill up the required fields in a document carefully before signing it electronically. If there are any missing fields, then you can notify the signatories for filling up the required fields. As a result, electronic signatures can reduce the probabilities of errors considerably thereby contributing positively to time management.

Going paperless is a new trend in the current digital era. Check out the top reasons to go paperless by adopting e-signature and how it will benefit your business!

  • Seamless Integration with Existing Systems and Processes

Among the many answers to ‘why use electronic signature’, the ease of doing business is probably a striking one. The efficient integration of electronic signature processes into the business can help in streamlining the payment and invoicing process.

In addition, electronic signatures can transform the approaches for communication between your business and other organizations, customers and employees. Furthermore, electronic signature solutions also help in streamlining many other business operations. Therefore, you can enhance customer experience considerably with the use of electronic signature.

Most important of all, the easy and flexible integration of e-signature solutions with existing systems prevents any concerns of downtime. You can use e-signature solutions for creating documents in various formats followed by uploading to a wide range of file sharing sites, thereby improving their accessibility.

  • More Convenience

The final, yet most crucial aspect about electronic signatures that showcases their efficiency is convenience. Sending documents for electronic signature in multiple languages and device-agnostic operation flexibility with e-signatures are prominent benefits you can’t ignore. Therefore, you can overcome the conventional barriers for conducting various business operations with electronic signatures.

Final Words

Now, it is clearly evident that the conventional paper-based signature process does not cope well with the modern business landscape. As you can see above, the answers to ‘why use electronic signature’ are quite straightforward. E-signatures provide a promising boost to the growth of businesses in this era of digital transformation.

Most important of all, you have the benefits of security, cost-effectiveness, and seamless compatibility with existing systems. So, if you want to capitalize on these benefits of electronic signatures and drive the competitive advantage of your business further, then now might be the right time. Find out reliable e-signature solution providers with a proven track record and experience in the industry.

Posted by Brian Felix, 0 comments
10
Jun
2020

Understanding Electronic Signing of Documents

The wave of digital transformation has enabled enterprises to achieve many benefits in terms of cost reduction and resource effectiveness. The digitalization of the workplace, along with the introduction of solutions to replace legacy infrastructures, creating a new milestone. One of the prominent solutions that have been prominent highlights in the digital transformation of businesses worldwide is electronic signing.

The definition of electronic signatures, according to the ESIGN act, implies that it could be any sound, process, or symbol logically associated or attached to a contract or any other record and is executed or adopted by an individual with the intent for signing the record. Well, the definition may seem very vague, and it is not much you can picture about electronic signatures from the above-mentioned definition.

However, the definition clearly shows that electronic signatures are legally valid. It basically implies that signing electronically also holds the same legal weight as wet-ink signatures. So, with a prominent doubt regarding electronic signatures out of the way, let us gain a basic understanding of electronic signatures in the following discussion.

Also Read: What Makes an Electronic Signature Legal

What are Electronic Signatures?

An introduction to electronic signatures would focus on their definition. However, you have to understand that when you sign electronically, it is nothing like a paper-based signature. Electronic signing implies that you have to follow certain process requirements to ensure that an electronically signed document is valid.

Therefore, the electronic signature is not the sole determinant of the legal validity of a document with which it is associated. Therefore, you need to understand the components of an electronic signature to gain a clear idea of the benefits of esigning.

Components of Electronic Signature

The four primary components of electronic signatures include the following,

  • Consent

The individual signing an electronic document should explicitly provide consent for signing the document. If the individual does not choose to sign an electronic document, then a non-electronic option should be made available.

  • Intent

The intent of signing implies that the signer clearly recognizes and understands their intent to sign the document. The intent of electronic signing clearly implies that the process through which an individual signed the document was clear to the signer.

  • Verification

The next important requirement for the legal validity of an electronic signature is verification. Verification implies checking for whether the same person whose signature is on the dotted line has signed the document or not. Many e-signature solutions have in-built verification and authentication mechanisms such as two-factor authentication or OTP verification.

  • Auditability

The final aspect of validating the process of electronic signing refers to the audit trail. The audit trail is basically the representation of the paper trail of a wet-ink signature. The audit trail allows every party involved in the electronic agreement or any legal entity to access every step of the e-signature process at any time. As a result, users can have transparency regarding the modifications made in a particular electronic document.

Difference between E-Signatures and Digital Signatures

The next important concern before understanding the benefits of esigning of documents is the difference between e-signatures and digital signatures. This is one of the prominent issues that new audience of electronic signatures faces. However, you can clarify the doubt by reflecting back on the definition of e-signature presented forward by ESIGN Act.

The definition vaguely translates into the fact that there are many types of electronic signatures. And, digital signatures are one of the particular types of electronic signatures. Digital signatures have their own set of legal standards, governances and rules.

Also Read: Benefits of E-Invoicing

Working of an Electronic Signature Solution

Now, let us reflect on how electronic signing actually works! For this purpose, we shall outline the basic steps in the working of an e-signature solution. Even if the steps in the process could differ according to the design of the software solution, the workflow would basically remain the same.

  • Upload a document to the website or app of the third-party e-signature software
  • The second step involves tagging of the document for pinpointing the exact location for the signature
  • Now, the solution emails the document to all participants required to sign the document.
  • Signers have to complete all required fields in the electronic document and then sign the document electronically.
  • Then the e-signature solution automatically emails back the completed document after electronic signing to the original sender.
  • In the final step, the e-signature software stores the document automatically for easier, safer, and secure access.

Benefits of Electronic Signatures

The final aspect of understanding e-signatures refers directly to the benefits of esigning. Electronic signatures have a promising potential for improving organizational productivity and could also provide the following important advantages.

  • Simpler Learning Curve

As you can see clearly from the workflow to sign electronically, you can use e-signature solutions easily. Even complete beginners could learn to use electronic signing software, thereby reducing the barriers in the adoption of electronic signatures.

  • Time Savings

The time invested in printing, scanning, and copying paper documents would not exist anymore with electronic signature solutions. As a result, enterprises can focus on productive tasks with reduced turnaround times by almost 90%.

  • Cost Savings

The most crucial advantage of electronic signing is evident in the cost savings due to reduced dependence on paper. Enterprises can do away with the costs of purchasing, processing, storage, and maintenance of the paper documents with e-signature solutions.

Also Read: Cost Saving with Electronic Signatures

  • Easier Storage and Organization of Documents

The storage and organization of paperwork is also another prominent setback for organizational productivity. However, electronic signature solutions ensure easier and secure storage along with flexible sorting and filing functionalities. Therefore, you would not have to struggle with the storage and retrieval of significant documents.

  • Additional Security

Furthermore, the most important factor that validates the use of electronic signatures is the additional layer of security. The protection of electronic documents through various methods such as biometric authentication, passcode, and encryption provides the assurance of safety to electronic signature users.

The use of electronic signature helps businesses to cut the business costs to an extent. Check out the cost-saving benefits of electronic signature if you are thinking to adopt.

Conclusion

Therefore, you can clearly notice the various functionalities electronic signing has and how easy it is to learn and use. Electronic signatures have the potential of transforming many sectors, and proper awareness about them can foster their adoption. The basic business benefits of cost savings and increased productivity alongside end-user satisfaction further strengthen the case for electronic signatures.

So, you need to start exploring more about e-signatures right now and find new opportunities for the digital transformation of businesses. The choice of an electronic signature solution can be very difficult. However, with the right amount of research and a proper eye for reviews and testimonials, you can find a competent e-signature solution.

Posted by Brian Felix, 0 comments
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