Electronic signature

02
Nov
2021
Wet Signature vs Electronic Signature

Wet Signature vs Electronic Signature

Signatures hold paramount importance for any legal document or file. Any legal document or file is meaningless without a signature. From a press release to your kid’s result card, signatures could be found everywhere.

Everything has moved digital in this internet-driven era, and the same is the case with signatures. Now long gone are the days when you required ink, pen, and paper to sign a document. But which kind of signature should you prefer? Today, this will be the premise of our discussion. We’d also try to debunk the myths surrounding electronic signatures, once and for all. Keep reading till the end to know more about wet signature vs electronic signature.

So, what is a wet signature? A wet signature, also known as a traditional signature, refers to the signatures that you place on the paper to indicate that you have read and agreed to the content written in the document or a file. In order to do wet signatures, you’d have to sign manually on paper using a pen or any other machine. It’s usually done in the presence of one or two trustworthy persons. Moreover, a signature is also used to identify the signer as everyone has his unique signature. It could be a person’s name (first or full name), a brand name, nickname, or any symbol or mark.

Prior to the invention of electronic signatures, wet signatures were the only way to sign a document.

The roots of wet signatures go as far back as 1677. A law was passed in the UK back then, which holds that for a contract to hold any legal standing, it must be written and signed. Experts suggest that this was when the signatures were given any legal importance. In the light of this law, it was made compulsory for all companies or individuals to sign the contracts and other documentation.

Wet Signatures in PDF Form

It’s no secret that PDFs are the most widely used kind of online documents. Now, you might be wondering if you can save your signatures in pdf format. Well, you’d be glad to know that there are dozens of applications available that enable you to save your wet signature on pdf. Among all those software, we recommend using Adobe Acrobat. All you need to do is just open this software and click on “Add Signature.” The coolest thing about this software is that you get three options to choose from, i.e., draw, type, and image. This will make signing contracts far more convenient for you.

Sending a Wet Signature?

Now that we have discussed how to save wet signatures on PDF, let’s discuss how to send a wet signature. Well, there are many ways when it comes to sending a wet signature. It all comes down to your personal preferences. Mail is the traditional way which has been used for years. It’s more widely used than other mediums as it’s considered safer and faster. Apart from Mail, you can go for scanned signatures as well. If that’s your preference, you can consider using Approve me. Both ways are equally effective and convenient.

Electronically Generated Original Signatures

Amid COVID 19, many countries around the globe, including the USA, have made it mandatory to provide an electronically reproduced original signature. This simply means that the signature must be handwritten on a scanned document, or an image should be provided at least.

Digital vs Electronic Signature

These two terms are confusing for a lot of users and have been used interchangeably at times.

However, you’d be surprised to know that these are actually two different kinds of signatures.

Electronic signature refers to the signatures to signify your consent on an electronic document or contract. A digital signature, on the other hand, is a form of electronic signatures, which encrypts the data

Final Verdict

There’s a lot to debate when it comes to discussing wet-signature vs electronic signature. Both forms have their legal standing, but the elephant in the room is that wet signatures could be forged, and they consume more time and effort as well.

If your organization spends too much time on getting contacts signed, then you should find yourself considering electronic signatures.

All the reasons why you should switch to electronic signatures would make a long and detailed list.

For starters, they save your time and money that you could spend on something productive. Organizations that solely depend on wet signatures often lag behind. As a cherry on the cake, they are cost-effective as well. You no longer need to shell out your money to buy a pen and paper every now and then. So, it’s safe to say that the digital signature is the winner in the digital signature vs handwritten signature comparison.

Is Lunarpen Considered a Wet Signature?

Lunarpen is a company that allows you to sign any document anytime, from anywhere. It offers tons of groundbreaking features to ensure the fastest and safest signing experience for thousands of professionals all over the world. Since it asks the user to confirm his identity via a private code, you can rest assured knowing that it’s safe. The collected signatures comply with all the norms.

Furthermore, sending a document to several parties is just a click away. And yes, did we mention that you can also track your document and see the progress easily. Seriously, electronic signing cannot get any easier than this. What’s even better? You can connect your Lunarpen account to other applications, such as OneDrive, Dropbox, and many others. Signup for a free account now to seamlessly sign your documents online.

Final Thoughts

Electronic signatures have secured so much popularity over the past few years, and for good reasons. They hit the nail on the head as they are more convenient, safe, time-saving, and cheap. To electronically sign your documents online, professionals use Lunarpen. Signup for a free account now and save a great deal of your time and money.

Posted by Lunar Pen in eSignaure Law, 0 comments
07
Oct
2021

How To Create an Electronic Signature?

All of us are familiar with the traditional pen and paper signature. But what if you could sign your work with a click of a button. Well, now you can, thanks to the advent of the digital signature.

The Electronic Signature is now an option for anyone who needs to sign documents online and add a great deal of credibility to their business. It is perhaps the most convincing proof that your business is indeed yours, and one can cast fewer doubts on its authenticity. While digital signatures exist in the real world, they have not yet found widespread use in regular business.

One of the most typical issues clients face when using an eSignature application is understanding how to create an electronic signature quickly.

Here are some of the most important ways to create an electronic Signature.

How to create an electronic signature using Paint?

Step 1

To begin, select the Start button, search “Paint,” or press the Windows key, type “mspaint.exe,” and press Enter.

Step 2

Click the ‘resize’ button and modify the Width & Height boxes to fit the electronic signature to your selected size. You have to be careful as there should be enough space to “write” the actual signature. Then click the OK button.

Step 3

Click the “Brushes” tab on the ribbon and select “Caligraphy brush 1” from the drop-down menu.

After that, select the thinnest line option from the drop-down menu at the top.

Step 4

Leave the Paint defaults alone if you want a black colored signature. Otherwise, click any small colored square and see how the “Color 1” box on the ribbon changes color.

Step 5

Place the cursor near the white Paint workspace’s left edge. Keep the left mouse button pressed and held. Draw your initial name exactly as you would with a pen. Allow the pointer to remain within the workspace’s boundaries. After you’ve written your initial name, release the left mouse button.

Step 6

Again, click the File button option and select “Save as.” Select PNG or GIF from the “Save as type” choice to preserve the transparency, enabling you to place your electronic signature on any background. Give the file a name, for example, “LunarPen Signature,” and click the “Save” button.

How to create an electronic signature using Mac?

It is possible to create signatures on your Mac using various apps like Preview app & Apple pages.

Preview App

You can use your trackpad, your Mac’s built-in camera, or your iPhone or iPad to sign PDFs.

Step 1:

Click the Show Markup Toolbar button in the Preview software on your Mac (if the Markup toolbar is not visible), click the Sign button.

Step 2:

Create and save your signature by following the on-screen directions.

Create a signature using your trackpad: Click Trackpad, click the text as asked, use your finger to sign your name on the trackpad, press any key, and click Done. If you’re not satisfied with the signature, click Clear and try again.

Create a signature with the built-in Camera on your Mac: Click Camera. Face the Camera with your signature on white paper to level with the blue line in the window. When the window displays your signature, click Done. If you’re not satisfied, click Clear and try again.

Using your iPhone or iPad to create a signature: To select a device, click Select Device (if more than one is available). Sign your name on your device with your finger or Apple Pencil (on iPad), then click Done. If you’re not satisfied with the results, click Clear and try again.

Step 3:

Click the Sign button to add a signature to your PDF. Choose the signature you wish to use, drag it to the desired location, and then adjust the size using the handles.

Apple Pages

Apple’s Pages does not directly allow any electronic signature technology; however, it is still possible to put your signature as an image into a document using the Pages application.

Step 1:

You would need a white background. Open ‘Preview’ with a document that has white space in the margins and Click OK.

Step 2:

Insert the existing signature into the document by dragging the signature into the margins.

Step 3:

You can capture a screenshot of your signature by hitting (CMD + Shift + 4), which is the keyboard shortcut to take a screenshot of a part of your computer’s display.

Step 4:

Delete the image from your Preview document and exit the app to complete the process.

Step 5:

Open Pages and insert the image of your signature into the document using the drag-and-drop feature. Adjust the size to your liking.

How to electronically sign the document on iPhone or iPad?

You can sign documents on the go using your iPhone or iPad. With Markup, you can edit screenshots and photos and even add a signature to the PDF document.

Follow these precise steps to sign a document on an Apple device:

Step 1: To launch the new email, open Mail and tap the compose button. Or, you can respond to a previously sent email.

Step 2: Once you have the email with you, tap an attachment to open it.

Step 3: Tap ‘Markup’ in the upper right corner.

Step 4: Tap ‘add’ in the lower right corner, and you get options like Text, Signature, and Magnifier.

Step 5: Select the signature option and use your finger to sign in your name, and then tap done.

Step 6: You get the signature in the document which can be moved by tapping and dragging it at the desired position.

Step 7: When your signature is where you wanted, Tap done and send the email with your eSignature.

How to create an electronic signature using LunarPen?

Over 1 lakh professionals trust LunarPen at leading companies. All electronic signatures comply with EU standards and instantly generate a time-stamped proof-file to protect your agreements. You can sign documents from anywhere as the application offers a seamless and straightforward process to create and eSign a document in easy steps:

Step 1: Create or upload a document

You can create or upload documents using ready-made templates or different options like

Upload file button, Google Drive & Dropbox.

Step 2: Use the document sharing feature

LunarPen simplifies your daily activities by allowing you to decide who receives the document with options like first name, last name, and email id.

Step 3: Explain the documents easily

Fill out details like subject & message to explain the plan of signed documents to the recipients.

Step 4: Use the LunarPen interface to eSign your document

LunarPen’s Signature field provides you with customized options for drawing, writing, and uploading your signature. Insert the newly created signature using the signature field and click Send.

Step 5: Receive signed documents by email

The signed document is sent to both the signee and the receivers through email, ensuring that only the added email addresses can view and access the document safely and securely on the LunarPen app.

Conclusion

The use of electronic signature has become widespread these days, as you are sure that the content of the document you are signing is accurate. With so much importance placed on electronic signatures, it is crucial to know how to create one. Whether you want to create an electronic signature to validate a document, use it for online banking, or sign a document, you need to know how to do it.Sign up for a free electronic signature account today to embark on an exciting new journey to the future and send electronically signed documents safely.

Posted by Lunar Pen in eSignaure Law, 0 comments
05
Oct
2021
Benefits of using Electronic Signatures in the Legal Industry

Benefits of using Electronic Signatures in the Legal Industry

The legal industry has grown at a breakneck speed in recent years and would reach $908.26 billion in 2025, up from $713.7 billion in 2020. The sector is heavily dependent on paper, and lawyers must move tons of paper to close daily deals. One of the highest paper users, Law firms spend an average of $1,000 per employee annually or $83 per month. Another research says that a single lawyer generates 20,000 to 1,00,000 printed pages per year. It shows how the growing demand for legal services has a direct effect on physical paperwork.

The legal industry is slowly taking the path of modernization. When it comes to using technology in the legal field, many things still need to be figured out. There have been discussions in the past about how technology is making lawyers obsolete. While that might not happen soon, technology is indeed making the legal industry better. Electronic signatures are just one of many ways technology is transforming the legal industry.

The benefit of deploying electronic signatures in the legal industry is that it can reduce the paperwork & make the tedious legal process more secure, rapid and trustworthy for businesses.

How can lawyers use electronic signatures for remote working & everyday work?

If you are a lawyer who is tired of spending hours signing hundreds of documents. In that case, you can digitally sign every legal document in a minute by using electronic signatures. Lawyers can use this application to create, sign & use legally binding documents online from their office, on the move, at their home, or remote location anytime, anywhere.

Due to the ease with which eSignatures get installed on any portable tablet, laptop/desktop, or smartphone. They are a fantastic tool for legal firms to transfer information, share documents, and connect with customers.

Here is how lawyers can use it by following these easy steps:

  • Open the installed eSignature application on a portable device
  • Upload the legal document using the file button, Google Drive or Dropbox
  • Use the signed document sharing feature to decide who receives the document
  • Fill in the subject & message fields to inform the recipients of the signed documents’ agenda.
  • Use the application interface to draw, write or upload your signature & capture the signer’s intent
  • Send the signed documents to the recipient’s email
  • Receive eSigned documents on email & view the document on the eSignature app

Tips for choosing electronic signatures for your law firms

Adopting an eSignature is as simple as using this technology. You should seek the answer to these questions before finalizing the application for your legal firm.

Is it user-friendly? You have to ensure that the electronic signature is simple to use for lawyers and other legal professionals. Ask the employees to test the technology in day-to-day business and check if they solve the operational problems in a fast, secure & most effortless way.

Is it secure? The application should protect confidential client data as well as financial transactions in the contract or agreement. Look for eSignature tools that work on HTTPS connection, have strong electronic identification, multi-factor authentication, Audit Trail, and are backed by eSignature laws like eIDAS, UETA, ESIGN, and the GDPR act.

Is it flexible? How flexible is the application - Would the application support employees working from home? How many portable devices are supported by this application? Can the application adapt as per your organizational changes?

Is it legally compliant? The electronic signature application should comply with international eSignature laws like eIDAS Act, ESIGN Act, UETA Act. These laws can help you reduce the cost of paper-based transactions, time consumption, and assure hassle-free execution.

Case Study

Introduction

Emma Stanley law was founded in 2016 to make legal services easily accessible to her clients. Part of the plan was to set up a virtual law office that would allow her to operate anywhere. As a sole practitioner, Emma knew if she could sign undertakings remotely, her practice didn’t need to come to a halt when she was away.

So, they searched for an intelligent solution like electronic signatures without the risk of delaying settlements.

Challenge

Use a legally authorized digital signing solution that would be acceptable to other law firms to sign undertakings and settlements remotely & securely.

Solution

When Emma Stanley law learned about electronic signatures, they knew it was the right solution for their business needs.

Its security features include Public Key Infrastructure (PKI) technology offering one of the highest levels of security for legal documents. The tamper-resistant seal makes it challenging to manipulate electronically signed copies.

Additionally, they get notification about document changes made by any concerned personnel as they have access to the audit trail feature, which provides timestamps for the signing sequence.

As global eSignature laws back this outstanding technology, Emma Stanley Law began using it comfortably to sign undertakings quickly, which was acceptable to other law firms as well, even while Emma was out of the office.

Benefits of electronic signature solutions for law firms

Increased document visibility with Audit Trail

Law firms using e-signature solutions assure that only authorized persons securely sign their client’s confidential documents. It safeguards the record against illegal access, forgery, or manipulation. The embedded audit trail feature includes additional information about the e-signature transaction, revealing confidential information like who signed, the date and time of signing, and the digital certificate used to sign the document digitally.

Streamline legal processes

Electronic signature systems enable law firms to streamline their legal processes in several ways. Employees working in legal firms can use electronic signatures for quick and effortless signatures on legal documents from any location and device. The eSignature software installed on laptops, mobile devices, or tablet devices enables legal transactions more quickly. Without the need for document signing and maintenance, law firms can focus their legal expertise on other critical operations, such as guaranteeing customer satisfaction, rather than on document signing and maintenance.

Reduce overall costs

Electronic signatures have been adopted as a viable solution by many legal companies due to the significant benefits to their bottom lines. Law firms that use a digital signature save money on ink, paper, printers, paper, and equipment maintenance by eliminating the need for physical signatures. The ability to handle the signing process more predictably is made possible by consolidating the entire cost of document signing into a predictable monthly fee.

Client data protection

Cyberattacks in the legal industry are on the rise because law firms hold a considerable amount of sensitive customer information in their possession. E-signature systems enable legal businesses to retain and protect client information effortlessly, preventing papers and files from being damaged, or even worse, stolen or destroyed using cloud-based technology.

Improve communication with clients & partners

When legal documents use paper for signature, it is impossible to determine their status in the signing process. Following up with customers who have not signed a document is challenging for law firms as they are unsure if they received it or not.

Digital signatures expedite organizing and managing paper documents by reducing the amount of time and resources necessary. By utilizing a well-established e-signature system, law firms may track outstanding signature requests without requiring additional resources.

Conclusion

If you’re in the legal field and are not using electronic signatures yet, you’re missing out on many things. Paperwork can get lost, misplaced, or delayed in the mail, and then you’re stuck waiting. Thankfully, there’s a better way to get paperwork signed—electronic signatures. Using electronic signatures can reduce paperwork, speed up the process, and increase efficiency. You can decrease your overhead, save time and money, and have a higher degree of security as well.

So, what are you waiting for? Start using eSignatures for legal firms.

Posted by Lunar Pen in eSignaure Law, 0 comments
28
Sep
2021
How Can Electronic Signatures Help The Logistics Industry?

How Can Electronic Signatures Help The Logistics Industry?

Documents are at the heart of all logistic processes. Many logistics companies struggle to stay on top of the avalanche of paperwork, toil with obsolete software, and fumble through sophisticated workflows. These problems intensify when the supply chain spans international borders.

Different industrial sectors use logistics to plan & control the movement of goods and services within a supply chain. The only concern is the paperwork to keep records, track stored and shipped goods.

Every industrial sector is witnessing a digital transformation in 2021, and even the logistics industry is waiting for a solution that allows them to do online paperwork without any hassles, complexity, and delays.

An electronic signature is the critical technological solution desired by every player in the logistic industry for a faster documentation process, significantly reducing the risk of legal disputes by providing more substantial tamper-proof digital evidence.

Logistic documents that need electronic signatures

  • Consignment Notes
  • Online contract signing
  • Bill of lading (BOL)
  • Freight bill
  • Delivery order
  • Dock receipt
  • Waybill form
  • Customer Agreement
  • Certificate of Origin
  • Cargo Insurance Certificate
  • Dangerous Good Declaration note
  • Packing List
  • Delivery Note

Are eSignatures safe for signing logistic-related documents?

International laws like ESIGN, UETA and the EIDAS Act support electronic signature technology, which gives logistic businesses the authority to use it for international business opportunities.

Additionally, digital signatures have many security and authentication layers like HTTPS connection, multi-factor authentication, cloud storage & user privacy to protect and store the eSigned documents, along with court-admissible transaction proof (Audit Trail)backed by the law. Such strong measures make eSignatures incredibly safe for signing any logistics-related documents.

Why does the Logistics industry need electronic signatures?

The logistics industry contributes a lot to the economic growth of countries. There is a constant need to keep up with the demand for faster delivery of goods and services related to FMCG, manufacturing & other sectors. That’s not all - logistic companies need to comply with more regulations as they target domestic and international clients. These companies must adopt innovative practices and technology to make the distribution process faster to meet these demands.

It is only possible through quick signing & approval of logistic documents related to the agreement, packaging, and safe receipt of goods at the customer end. eSignatures assure better integrity, visibility, and security in the logistics process enabling businesses to reduce costs, improve customer satisfaction, and comply with emerging regulations.

How electronic signatures benefit the logistics industry?

Improve supply chain visibility: Electronic signatures are the best way to ensure that critical documents are signed before the actual shipment gets completed. It provides the highest level of security and also helps reduce errors in communication between the involved parties.

The technology improves supply chain visibility by providing a validated proof of delivery from the moment goods leave suppliers to the minute they reach their destination. It has been made possible through a digitization process by securing and managing digital data to be shared, tracked, and communicated quickly.

Get rid of paperwork: Paperwork is one of the most time-consuming, tedious, and error-prone aspects of logistics. The number of documents that need signatures for each shipment is staggering, especially when most shipments cross multiple borders. With electronic signatures, all parties can sign and approve documents in real-time electronically.

Reduce Operational costs: In the logistics industry, a shipment can have at least six documents that need to be signed by various stakeholders, including the carrier, warehouse operator, and the buyer - all of which require an in-person visit to sign. It results in a rise in operational costs. Digital signatures help cut these costs by eliminating the need for these visits and enabling everyone to sign documents from their desktops or mobile devices digitally.

Improves Productivity: According to Forrester, there will be an 85% improvement in productivity by adopting e-signatures. Once you have e-signatures integrated into your business, you will be able to create effortlessly, sign, and send documents online, substantially speeding up the entire process. Once less time is spent on document processing and signing, the team may focus on more vital tasks such as closing sales and making logistic deliveries on time.

Case Study

Halvor Lines is a family-owned and operated trucking and logistics firm. With an exceptional staff of drivers, they provide premium transportation and logistical services across the US and Canada. America’s Best Fleets to Drive For (seven years running), several EPA awards, and American Heart Association distinctions for Halvor’s focus on driver and employee health.

Challenge

As Safety Office Administrator, Kendra Payette manages compliance and driver log infractions with a team of five. The safety department’s goal is to meet industry requirements and correct errors.

Those goals were practically hard to achieve before using electronic signatures. Halvor’s drivers are regularly on the road across the US & Canada, so they rarely have time to stop by a terminal and sign a document on-site. In some situations, it used to take up to a year to deliver a wet ink signature, and by then, months had passed since the driver’s violation was logged.

Due to these extensive delays, the safety department could not respond quickly and was vulnerable to regulatory risks.

Halvor Lines went digital to bridge this massive distance between drivers and their documents.

Solution

Halvor Lines finalized an eSignature solution. Here is how it’s workflow has helped solved the challenges:

Complete compliance

Rather than waiting months – or even a year – for their dispersed drivers to sign documents in person, the application enables Halvor to get eSignatures from on-the-go drivers. Regardless of their location, drivers may use their tablets to view and edit logs on the fly. As a result, the organization may comply with all applicable standards and requirements, save significant time, and avoid unwelcome DOT audits.

Signage on the road

Passenger forms authorize drivers to transport a passenger in their truck. Drivers can phone the office and request the document that is transferred to their tablet. The driver can then sign and return the passenger form at their leisure - no physical paperwork is required.

Streamlined human resource management

Due to the geographical dispersion of Halvor Lines’ drivers, the application makes it much easier to collect their signatures if anything changes in their personnel file (insurance, salary, etc.). Previously, HR had to mail documentation to each driver’s physical address, a time-consuming process that caused considerable delays.

Management of mobile devices

Each driver has a tablet that the IT department handles. IT can manage which mobile apps and permissions are available to drivers and pre-install the app on each tablet with the driver’s unique login already configured. It eliminates the need for drivers to waste time performing technical tasks: they merely need to sign a document and click submit to have it forwarded to the office.

Conclusion

Electronic signatures help the logistic industry accelerate its digital transformation and reduce its dependability on paper by running operations more quickly, efficiently, and with higher-quality data. It makes the technology highly critical for businesses with a strong market reputation.

Sign up for a free e-Signature account to put your logistic firm years ahead of the competition and enhance its sales, delivery, and customer understanding.

Posted by Lunar Pen in eSignaure Law, 0 comments
24
Sep
2021
Improving Employee Experience with Electronic Signatures

Improving Employee Experience with Electronic Signatures

Businesses have a mission to provide a great workplace to their employees, a place where people love to come to work, and where they can perform at their best. The key to improving the employee experience is to have a great workplace environment that employees will love to be in. Employers must prioritize employee experience and use technology to automate, simplify and save time for critical tasks and create a fantastic workplace. This way, working professionals feel more valued & appreciated, ultimately boosting employee experience.

What is employee experience, and why is it important?

Employee experience is the way your employees feel about your brand. It’s how they think about you as an employer, colleagues, company benefits, work environment, skills, and growth opportunities.

A Deloitte study found that almost 80% of executives worldwide rated employee experience as necessary or very important. It isn’t surprising that employee experience is directly related to company performance.

When employees have a positive experience, they are satisfied, engaged, and capable of completing their responsibilities efficiently and successfully. It has a favorable positive effect on the bottom-line revenue.

Improving employee experience with technology

Technology investments have to be guided by human needs to create an engaging employee experience. You can reap numerous benefits for business by introducing technology for an excellent employee experience like:

  • Delighted employees
  • Increased productivity
  • Reduced workload
  • Enhanced wellbeing
  • Lower burnout & stress
  • Attract better talent
  • Companies get bigger profits
  • Better customer experience
  • Reduce employee turnover
  • Simplified & Streamlined tasks

 

 

Why replace traditional signatures with electronic signatures?

With the increasing digitization in the workplace, there are many ways to make your workplace efficient, productive, and secure. One of the essential areas to upgrade is the process of signing documents. At present, organizations are using traditional methods to sign documents that consume time and reduce business efficiency.

In the current business scenario, a lot of paperwork needs to be signed, and it can get tedious for employees to sign them all within a limited time. Frequent lockdowns due to the pandemic in the last two years have forced employers to search for an innovative solution that helps their employees speedily sign off documents from the office or any remote location comfortably.

One such innovative technology in the market is electronic signature services. With electronic signature apps gaining a lot of recognition, industries are going gaga over them as they are simple, intuitive, convenient, and offer a high level of security for everyday business.

The winner technology in 2021 to improve the employee experience

If there was ever a time or period when all humans are supposed to go paperless, it is 2021. The current epidemic has not just altered our lifestyle but has forced businesses and organizations to rethink their working methods.

The COVID-19 outbreak accelerated virtual meetings, contactless transactions, online education, online payments, and digitization which is crucial for a smooth running of business. The current situation has also taught us how to work effectively without being physically present everywhere.

Among all this rapid transition, electronic signature technology is gaining a solid foothold in the market.

The digital signature market reached $2.8 Billion in 2020, and e-Signature transactions have jumped from 89 million to 754 million in just five years. It will reach $14.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 31.0%.

How do electronic signatures improve the employee experience?

Employees benefit from electronic signatures as it relieves them of repetitive tasks such as creating a physical copy of every customized contract, converting it to PDF, printing it, getting signatures from the stakeholder, and converting them into legally binding contracts and agreements.

Wait a moment! Employee responsibilities do not end here. Another significant problem is the security of physically signed contracts/agreements, which must be protected against theft, document fraud, and natural disasters. If the contract is misplaced or damaged at the storage facility, the employee may have to start searching for it from scratch, which is a substantial waste of time.

Electronic signatures let employees instantly switch from inefficient mode to efficient mode as critical documents can be uploaded, edited, generated, eSigned & stored using a single eSignature application. The app helps track the document signing progress and send reminders to signees without following up physically, offering a lot of relief to employees.

Benefits offered by electronic signatures to boost employee experience:

Gives employees an excellent onboarding experience: Using e-signatures reflects your company’s forward-thinking and efficiency-oriented culture. Apart from convenience & ease of use, employee onboarding using electronic signatures can help companies manage and track employees’ time on various tasks (such as reviewing documents, signing NDA’s, etc.) during their onboarding phase. It can also help companies measure the efficiency of their HR process and take necessary actions to restructure the onboarding process and improve the employee experience.

Assured integrity of documents: Signing a contract or agreement is a significant part of doing business. It’s a necessary legal process to protect your company, its employees, and its customers. Electronic signatures help you do this by making it easy for your employees to sign agreements with a few clicks of their mouse, saving them time and ensuring the integrity of all signed documents.

Sign documents with convenience: With electronic signatures, you can securely sign documents anywhere with internet access. So, if you are at the home, office, or on the move, you don’t need to rush back to your desk to sign a contract. And because it’s digital, you can even print out an electronic copy for your records or email it straight away to its stakeholders.

Reduce employee churn: 70% of 2,000 employees surveyed said they would quit a job if companies lacked high-performing and fast technology. Electronic signatures allow employees to spend less time doing paperwork and more time growing their business. With electronic signatures, you can automatically capture data from paper contracts and forms into the cloud to speed up everyday tasks like processing expenses, invoicing clients, and approving documents.

Increased efficiency by shifting to digital workflows: Shifting from paper-based processes to digital workflows can reduce expenses and increase efficiency for a business.

Electronic signatures reduce processes that previously required people to travel, use messaging services, schedule appointments, and manually control the tracking of a document to as few as two to three clicks. Now, employees can find eSigned documents easily, send notifications to signees, and track the signing of online documents from any location. It increases their efficiency to handle and prioritize more critical tasks.

Conclusion

A digital tool like electronic signatures has a lot to offer to improve employee experiences like the ease of use, security, speed, convenience, and productivity. It keeps the employees motivated all the time and contributes to the organization’s success.

So, if you are a company that is not using e-signatures, then it is a golden chance to Integrate electronic signatures into your company and boost employee experience to become a market leader.

Posted by Lunar Pen in eSignaure Law, 0 comments
21
May
2021

How to choose the best eSignature Service

eSignatures are the gold standard for efficiency and simplicity in eCommerce, Banking, Insurance, Real estate, Finance, and other emerging sectors.

As per the latest market research, the valuation of the Digital Signature market was USD 2.03 Billion in 2019 and would reach USD 17.72 Billion by 2027, growing at a CAGR of 31.1% from 2020 to 2027.

E-signature software makes document processes speedier, efficient, and consistent for every task, right from closing sales contracts, team member onboarding, online banking, filing tax returns, esigning legal documents, and many more things.

The global adoption of e-signatures is accelerating at a rapid pace. The key factors driving the growth of the electronic signature market include a growing government emphasis on paperless bottlenecks, rising consumer demands for digital communication, and increased awareness of the legal acceptance of e signatures.

It is not easy to compare and choose an eSignature solution as many companies in the international market are claiming to be the top eSignature service provider.

In that case, you must follow this checklist to decide the best eSignature service for your organization.

1. Precise feedback from eSignature users

Ask for detailed feedback from eSignature users during the trial period- who may be employees from your company or the clients accessing the application to eSign the contract and agreements.

Different users may have different perspectives and views about the eSignature application.

An office team member will judge the application based on smooth user experience, time savings to focus on essential tasks, and convenience to use it on any device, any time.

The company must seek an answer to these questions from its employees before deciding about an esignature software:

  • Is it easy to use the application?
  • Do I need the training to use the application?
  • Does it help free employee’s time to do meaningful work?
  • Does it help in reducing the use of paper documents?
  • Does it accelerate reviews and approval processes?
  • Does it help track document signing progress?
  • Does it help eSign the documents from anywhere?

A client may have different views and questions about the e signature application:

  • Is it easy to use the eSignature application?
  • Can I trust the esignature application?
  • Is my eSigned document safe?
  • Would it save time in esigning the documents?
  • Are my eSignatures legally binding?

2. Is the eSignature application compliant with laws around the world?

The eSignature service must be compliant with major electronic laws like GDPR, eIDAS, and the ESIGN act.

GDPR

Suppose your business organization transacts with other companies globally and is looking to implement electronic signatures. In that case, you must ensure that the eSignature service provider demonstrates full compliance with the GDPR requirements.

eIDAS

The eIDAS regulation has two focus areas like Electronic identification (eID) and Electronic Trust Services (eTS), and must recognize three distinct signature types like

  • Standard electronic signatures
  • Advanced electronic signatures
  • Qualified electronic signatures

ESIGN & UETA Act

Two bodies of law in the United States govern electronic signatures and their transactions in the Global and National Commerce Act (ESIGN) and the Uniform Electronic Transactions Act (UETA). They are collectively known as the US eCommerce Laws.

3. Does your eSignature vendor understand your business?

Although all e-signature solutions help organizations remove the paper-based method of acquiring wet signatures, some vendors can fall short when it comes to being aware of industries’ specific requirements related to prospective clients.

In highly regulated industries, such as the eCommerce, finance, law, construction, and insurance, it is crucial to work with an e-signature provider:

  • Who understands the day-to-day challenges of your business
  • Understands how e-signatures can fulfill your business needs
  • Who knows how their services would streamline business operations
  • How would it help companies cut costs in their respective sectors?
  • Who complies with the regulations that are relevant to your organization
  • Who complements the way of work in industries of different sectors
  • Who provides cost-effective IT management

4. Security of electronic signatures

Data loss, breaches, malware, and viruses can harm your company’s reputation. You’ll need adequate security assurance when looking for an electronic signature vendor. You must check if they provide these security features:

User verification: User identities can be verified using ID cards, access keys, and digital certificates.

Audit Trail: The Audit Trail feature is a digital record maintained by the e-signature service.

Multi-factor authentication: Protects your document, ensuring that only authorized persons have access to them.

Document Verification: It ensures that a document remains unchanged after being signed. In case of edits to the document, the signatures are rendered invalid.

Secure storage: Please check if the esignature service providers use highly secure cloud storage solutions like Google cloud.

Security: To ensure that no one is spying on your connection, ensure that the service always utilizes an HTTPS connection.

5. User Privacy

The privacy of the data as a customer should be your top priority before finalizing an eSignature vendor.

You have to ensure that the esignature service provider provides complete privacy of your electronically signed documents.

Only invited employees should get the access and edit request to esign the document. There should be no scope of the document getting leaked outside the company network and accessible to uninvited employees.

It would be of great help if you seek answers to these questions from the service provider:

  • What type of user data is collected by them?
  • Are they collecting any personal user information?
  • What do they do with such sensitive information?
  • What are they doing to protect this information?
  • Is the collected data safe from leakage?

6. Scalability

You want your company to keep growing and moving forward, and hopefully, you want to keep using the same resources you have now in the growth journey.

It is also true for eSignature apps; you have to ensure that the application use evolves with your business.

An excellent way to check this is to:

  • Look at the service packages offered by your eSignature app
  • How many users can be added by the company?
  • Package wise advanced features & functionalities

Additionally, you must seek an answer to these questions:

  • Is the digital signature scalable to meet the needs of the company today and in the future?
  • Would it allow continuous modernization of your business?
  • Is this application usable by other departments of the company?

7. Cost-Effectiveness

Is it justified to spend money on an eSignature application? How would it benefit the company in the long term and help streamline the day-to-day business operations?

To answer these questions, you must compare the features, benefits, annual pricing, user reviews, and ratings of different eSignature services before actually investing in a new one.

The cost-effectiveness of a software application is not only about the cheapest pricing but a combination of

  • Ease of use
  • Convenience in using the application
  • Positive impact on business efficiency
  • Improvement in employee productivity
  • Business hour savings after using the software

8. The flexibility of the application

It is advisable to use an e-signature solution that merges well with its existing processes and workflows.

eSignature buyers must ask themselves:

  • Would the application support employees work from home?
  • How many portable devices are supported by this application?
  • Would it support the business if the number of employees increases?
  • Would there be future updates for the software?
  • Can the software adapt as per your organizational changes?
  • Would the vendor be able to adapt to your ideal process map?
  • Is it possible to make quick & easy changes in your processes in the future?

9. Support

You will always need good, responsive support from the e signature service provider if there is any problem in using the application.

A good practice is to immediately reach out to the customer or technical support representative during the trial period and check out if they provide active support if the problem arises.

Another good way is to read customer reviews and ratings and check out the responses from other customers.

Most of the eSignature companies offer a free trial to use their applications. Use the trial period to thoroughly test the electronic signature application for user experience, task completion speed, and security of the eSigned documents.

Sign Up for a LunarPen FREE account to confirm the checklist items and start using the best e signature service today.

Conclusion

Asking yourself these questions before finalizing an electronic signature software will help you choose a solution suiting your business needs. Follow this checklist to select the best eSignature service for your organization.

Reach out to our experts to get started with electronic signatures today.

Frequently Asked Questions

How do I choose an electronic signature solution?

You can decide the best eSignature software based on the below factors:

  • User experience
  • Ease of use
  • Data privacy
  • Security level
  • Law compliance
  • Compatibility
  • Customer reviews
  • Responsive support
  • Value for money

Is LunarPen legally binding?

Yes, electronic signatures created using the LunarPen application are legally binding. It adheres to eSignature laws like the ESIGN Act, eIDAS Act, and the GDPR law, allowing any company to do business globally.

Can I get a free electronic signature?

Yes! LunarPen lets you use electronic signatures for free. You need to SIGN UP for a free account.

How can I send my signature for free?

Follow these simple steps to send your signature for free:

  • SIGN UP for a free eSignature account
  • Create or upload your document that needs your eSignature
  • Choose the email IDs of the persons necessary to sign the document
  • Use the LunarPen interface to eSign your document
  • Receive esigned documents by email
Posted by Lunar Pen in eSignaure Law, 0 comments
10
Apr
2021

Top Business Challenges Solved by E Signature

Creating, signing and organizing physical documents are a never-ending task. All of us have been through the time-consuming process of mailing and retrieving hard copies of vital documents such as applications and contracts that include your actual handwriting signature. If copying, mailing, and using multiple paper sheets with separate copies weren’t bad enough for the world and the environment, imagine what would be. In that case, the business is also extremely risky and vulnerable in terms of the authenticity of those signatures.

Since the conventional contract signing process is both time-consuming and expensive for the firms and the customers, Electronic signatures, which substitute traditional signatures on paper, are being proposed or adopted by a growing number of businesses.

An electronic signature solution has the power to change the way you conduct business and pave the way for improved profit and creativity.

Discover these top business challenges that you can solve with esignatures.

These days’ people are unwilling to wait even for a minute to get things done. They instantly want results in their hands after making payment for the business solution. Modern business practices help deliver quality products on time securely without compromising on the customer experience.

Here are the expectations from modern business practices:

- Speed

- Security

- Authenticity

- Easy usage

- Reduces the process steps

- Provides a competitive advantage

- Eliminates physical presence of a person

eSignatures complement modern business practices in a big way as they are easy to integrate seamlessly into organizations’ existing business processes. You don’t need to dust off your printer cum fax machine to copy and scan the documents or send someone around the town to sign a stack of papers.

Say goodbye to all the manual delays and errors in creating, editing, authenticating, and signing the documents. By using eSignature apps, businesses can complete their contract deals quickly and safely by going online.

  • Document Traceability:

You get a call from the top company management to find out the details of a particular document. Finding that one document in a pile of thousands of documents is an arduous task and a sheer wastage of employee productivity, potential, and business hours.

What if you could find the required documents in a matter of a few seconds without involving your employee?

eSignature helps you trace and ensures transparency, reliability, and evidential validity of your paperless records deposited in secure cloud repositories without having to sweat or divert your attention away from your primary task.

Choosing the correct electronic or digital signature solution means that you and your clients can email, accept, and monitor documents by notifying them when the recipient opens and signs the documents. As a result, both parties will go ahead with the business deal’s execution in no time.

  • Enhance Security:

Using electronic signatures removes the need to chase piles of paper and ensures enhanced security for the signed documents as one of the critical elements of using esignature is the ability to prove the signing party’s identity. You cannot use an electronic signature app without verifying your identity. In the case of a contract or agreement, it also shows that both parties agree by the esigned contract.

The eSignature app lets you keep track of the identity of the person accessing & reading the document and instantly notifying whenever the verified receiver signs it. This additional oversight is essential for the protection of personal information.

Electronic signatures use a digital storage solution backed by data encryption mechanisms, user authentication, and secure repositories to hold contracts which are a better option than storing them in a filing cabinet. It prevents the stored document from getting stolen, copied, getting tampered or damaged due to mishandling.

How can businesses use electronic signature apps more securely?

Businesses can use the e-signature network to deliver documents to various clients for signing. One must assign the document a name on an electronic signature app, upload it, and add signer information. However, before sending the contract to the recipient, you must use text boxes to indicate places on the document that the client must sign with either initials or signatures.

To sign online documents, the customer can use a smartphone or other signature recording devices or apps. When your client has finished signing and clicks the Finish button, the sender gets a message stating that their client has completed the paper signing process.

  • Status of the documents

Now you don’t have to waste time in follow-ups with the customer for knowing the document clearance status. The dilemma stage to speak, call, remind, communicate, schedule or reschedule a meeting with the customer for signing the document is over.

Using an electronic signature or a digital signature, you quickly track if the client or the customer has signed the document or is still pending.

The document status monitoring feature is helpful for business users who have hectic schedules. Furthermore, you can check where each document is in the signature process at any moment.

  • Improving speed:

The manual process of gathering signatures is a daunting task. You must run from door to door to meet the clients and seek their appointment for signing the documents. Sometimes you may even have to waste an entire day waiting for the client. It affects employee productivity in a big way as other prioritized tasks take a backseat.

On the other hand, an electronic signature solution helps you to circumvent the inefficient download-print-sign-scan-email loop. Without ever leaving the submission, you can receive the signature in seconds and the paperwork returned to the requester. Consequently, the turnaround period shortens.

  • Customer Experience

96% of customers say customer service is vital in their choice of loyalty to a brand.

Companies that excel at customer service have 1.5 times more committed staff than less customer-focused companies. Employee participation improves by 20% on average in businesses that enhance their consumer service.

90% of CEOs agree the customer has the most significant effect on their company.

How electronic signatures improve customer experience?

eSignature allows you to:

Simplify the purchasing process:

The consumer signs the contract using electronic signatures as soon as they agree on your product or service, without any delays or waiting.

Customer loyalty skyrockets when they save hefty travel costs and do not have to fly to sign a contract, mail signed documents back, or print and scan a signed document to deliver by email.

They can log in to the esignature app in seconds from any computer or portable device online and complete the contract without being physically present.

Modernize the purchasing process:

You meet customers’ digital needs by using electronic signature solutions. Customers have become accustomed to the speed, convenience & safety of digital transactions.

You won’t have to go through any more time-consuming paper procedures for electronic signatures as all formalities are completed electronically in just a few minutes. It projects a new and forward-thinking vision of a business that values its customers’ time.

Conclusion

Electronic signatures are gradually bringing much-needed changes in business processes around the world. They have made daily interactions between businesses, individuals, and public organizations much easier.

It’s no wonder that esignatures are becoming an important part of the digital transformation strategy valuing business collaboration. To achieve a competitive advantage, it is necessary to implement an effective digital transition strategy. However, without an eSignature platform, no digital transformation strategy is complete. The advantages of esignatures include increased productivity and lower costs along with enhanced user experience.

Begin your digital transformation journey by implementing eSignatures today.

Frequently Asked Questions

What are the benefits of electronic signature?

You would be glad to know about these astounding benefits of electronic signatures:

  • Enhanced security for day to day business operations
  • Very easy to use and takes less time to implement
  • Paperless workflow means no need to print-sign-scan
  • Get access to centralized document storage
  • Better workflow tracking with esignature apps
  • Increase collaboration and get projects moving
  • Lower transaction costs due to fewer chances of human errors

Is electronic signature acceptable in businesses?

Electronic signatures, like handwritten paper and pen signatures, are legally recognized, registered, and accepted by companies all over the world. The audit trail, which is linked to the electronic signature, makes it more appropriate in the event of a legal dispute and provide a detailed record of the usage of electronic signature in the documents.

Can a company sign electronically?

Yes, a company can sign a document electronically through an appointed and approved representative.

What documents cannot be signed electronically?

You cannot sign these documents electronically:

  • Wills, Deeds, and Leases
  • Papers for adoption
  • Divorce documents
  • Orders of the Court
  • Notices of termination of work (leases, utility, etc.)
  • Repossession notifications
  • Foreclosure notice
  • An eviction notice
  • Notices of product recalls

How do I verify an electronic signature?

When you get a signed document, you may want to verify the signer and the signed material by validating the signatures.

Authenticity checking confirms that the signer’s certificate and its parent certificates are available in the valuator’s trusted identities list.

Document integrity verification confirms that the signed material has not changed since it was signed. If the content of the document changes, document integrity review confirms if the content changed in a way permitted by the signer.

Posted by Lunar Pen in eSignaure Law, 0 comments
25
Mar
2021

Best Practices of Electronic Signature Security

Electronic signature security is one of the top concerns of digital transactions as more and more businesses empower customers to make secure and faster transactions on the web. When you collaborate with an eSignature vendor, don’t look for an eSignature service that is ESIGN compliant or has a particular security specification. We recommend you to take a broader view of the e-signature security that also addresses:

  • Selecting appropriate authentication levels
  • Making esigned documents tamper-proof
  • Easier verification of esigned documents
  • Reliability of records independent of the vendor
  • Verifying vendor’s track record of protecting customer’s data
  • Creating trusted experience through white labeling

Such a focused multi-directional strategy protects the organization’s reputation, reinstates customer confidence, and reduces the risk of non-compliance fines in electronic signature security.

To identify the esignature security requirements against which you should evaluate solutions, you should proactively check these security best practices before finalizing and working with an esignature vendor.

Best practices for implementing Electronic Signature Security

Identification, Authentication, and Attribution

Identification: The identification process identifies first-time applicants using two types of information:

  • Personally Identifiable Information(PII) like Driving license, Aadhaar Card, Passport number
  • Nonpublic Personal Information(NPI) like credit score, income, social security number

You get Verified PII or NPI information through third-party identification services. In this case, look for an e-signature solution provider that smoothly integrates with third-party identity verification services to establish genuine esignature users’ identities.

Authentication: Once a signer’s identity is verified, organizations issue electronic credentials to the users to facilitate secure digital transactions. The organization dealing with high-value, high-risk business transactions use robust multi-factor authentication services to ensure a safe environment and protect identities, data, and digital lives.

In this case, look for an e-signature solution that easily integrates with authentication services and offers a wide range of authentication options for a smoother user experience like:

  • User authentication through user id and password
  • User authentication using secret Questions & Answer (Q&A)
  • Using e-Sign sessions for verification of email address
  • Uploading identification images for e-sign transaction

Attribution: Use the attribution process to prove the identity of the person who clicked to apply an esignature.

One of the quickest and cost-effective ways to establish attribution is to use affidavits.

Take a case where the signer has to click a button to e-sign a document on the agent’s device. Just before handing over the device’s control to the signer, the device handling agent or representative gets an affidavit text confirming that the signer has received the esignature device. The affidavit text successfully captures the transfer of control as a part of the audit trail.

Another easier way is to send a one-time passcode (OTP) via SMS text to the signer’s Smartphone for gaining access to the e-sign session.

Document and electronic signature security

The security of electronic signature and the esigned documents are equally crucial for a signed contract.

There are several points for consideration:

  • Electronic signature and the esigned documents must be secured using the digital signature security technology that creates a digital fingerprint of the signed document ( called a hash) used for verifying the integrity of the signed records. If there is an attempt to tamper with the documents, the electronic signature is visibly invalidated.
  • If signers esign a document on different days, then a comprehensive audit trail should include each signature’s date and time.
  • All electronic signatures, timestamps, and audit trails should be embedded directly within the document rather than stored separately in the cloud.
  • It must be easy to verify that there are no changes in the signed record, independent of the vendor.
  • One should avoid e signature solutions that require you to access servers to verify the signature or documents. It can pose significant problems for you if the subscription services stop or the e signature vendor goes out of business.

LunarPen uses audit trails to store and track every change in the document starting from tracking the date of signing a document to change signs in the document and retrieve data anytime for legal purposes.

Cloud Security

eSignature solutions are available both on-premises and in the cloud.

The on-premises esignature solution runs entirely within the company’s network without the need for any external connection to keep the data on-site. On the other hand, a growing number of companies are adopting cloud storage to access documents for esignature transactions as it is speedy and cost-effective. However, it comes with several security risks like data privacy, shared servers, data leakage, and lack of data backups.

It would be best to look after esignature vendors that provide tailor-made secure storage solutions as per the organization’s need.

LunarPen understands these security risks very well and has partnered with leading cloud infrastructure service providers like Onedrive, Google Drive, and Dropbox to access documents securely and send them for e signature to respective signers and signees in a few seconds.

These cloud solutions follow world-class SSL and Perfect Forward Secrecy (PFS) encryption systems. With PFS, a user can’t reuse a private SSL key for sessions that have occurred in the past. Even if an unauthorized person gets access to the SSL key, it isn’t easy to decrypt older traffic, making cloud solutions highly safe for day-to-day business transactions.

Use white labeling to safeguard signing service & customers against phishing attacks

Enhancing customer experience is the prime focus area of digital transformation. Organizations often depend on third-party solutions to support their day-to-day business process. A slight mistake ruins customer experience, leaks confidential information, and endangers the company’s finances that can tarnish its image.

So, a company must safeguard itself, its clients, and the brand name by ensuring a safe and transparent online transaction process.

The best practice is to white label the entire e-signing experience so that only your brand is visible across the transaction and not the vendor’s brand. White labeling prevents fraudsters from attacking your valuable customers through phishing emails.

Organizations should look for esignature service providers that enable the use of white labeling in esign process.

As a responsible esignature company, LunarPen recommends white labeling in every aspect of the esign process.

The best esignature solution service provider should allow you to

  • Use the company’s email servers to send direct emails and not through third-party service providers.
  • Customize the brand’s logo, theme color & visibility of header, footer, navigation bar,
  • Personalize the content, look & sound of email notifications
  • Customize dialog boxes and error messages

Case Study: How Hackers used fake DocuSign email for phishing

Hackers used DocuSign documents to steal user credentials from all the major email providers.

The attack began when a user received an unknown email that appeared to be from DocuSign as it included its original company logo and the email content seemed like real emails sent from the company.

The email’s first line didn’t have any recipient’s name and only mentioned “Good day.”

Cofence, phishing detection, and response platform analyzed the email header. They realized that the threat source originated from an unknown domain narndeo-tech.com owned by Hetzner, a well-known web hosting service provider and data center operator in Germany.

Its researchers found an embedded hyperlink pointing towards six different options for users to enter their credentials and access DocuSign documents. Fake login pages were recreated for Ms. Outlook, Office 365, Gmail, and Apple iCloud so that users enter and reveal their original login credentials.

It is the best example of a phishing case where cybercriminals used a well-known company’s brand name to steal customer information using emails.

LunarPen strongly advises its users to be extremely cautious when using an external link on an email that asks them to share their user credentials.

If you are keen on learning more about the electronic signature security checklist, click here.

Conclusion

When businesses implement an e-signature solution, It is always advisable to take a broad view of the electronic signature security, starting from identification, authentication and ending with the solution provider’s ability to build trust and a smooth user experience.

Trusted service means stringent security measures. But at the same time, the security level of an esignature solution should not conflict with the customer experience. It is important to balance security concerns with the solution usability as over-engineering can negatively affect solution adoption and usability.

Frequently Asked Questions

What is an eSign document?

eSign document means an electronically signed document in PDF, Doc, Xls formats. Such documents are signed using an ePen, mouse, or finger movement on any smartphone, laptop & Tablet securely using an e signature app protected by 256-bit HTTPS advanced encryption.

What is the purpose of esigning a document?

Its purpose is to authenticate and quickly identify the person who has initiated the written communication and ensure a secure exchange of information between different parties. The esignature made by an individual on the document signifies knowledge, approval, acceptance, or obligation.

What are the benefits of an electronic signature?

These are the significant benefits of using electronic signature:

1) Save Costs: Save time in doing paperwork, printing, scanning, mailing, delivering, and storing the document
2) Save Time: Saves you from age-old rituals of paperwork. Going digital saves a lot of time, allowing you to focus on other essential tasks.
3) Legal Compliance: Electronic signatures are legally binded and acceptable all over the world.
4) Mobility: A significant advantage of eSignatures is helping businesses function irrespective of location & time.

How can I eSign documents for free?

Follow these simple steps to eSign a document for free:

Step 1: Click LunarPen to open a free account
Step 2: Create or upload a document using templates, Google Drive & Dropbox
Step 3: Use the signed document sharing feature
Step 5: Send the document for signature
Step 6: Use the LunarPen interface to esign your documents for free
Step 7: Receive signed documents by email

Posted by Lunar Pen in eSignaure Law, 0 comments
02
Jan
2020

Questions Every Buyer Should Ask Their E-Signature Vendors

It is required to clear all your doubts before you choose an e-signature vendor for your business. Check out these common questions that you should ask e-signature vendor before choosing that!

With technology keeping up the transformation process, the effort is towards making tings entirely digital. E-signature is one of the prominent steps towards the same. This is helpful in terms of maintaining the workflow over the digital platform. Naturally, it can be helpful in terms of improving the efficacy of the process, as well as safety. Most importantly, it maintains the details of the clients and their privacy level. It is true, though, that not every e-signature platform is equally efficient.

The effectiveness of an e-signature is actually dependent upon the needs. Hence, it is highly important to thoroughly ask e-signature vendor the questions that you feel essential prior to hiring. However, most people don’t even have an idea of what to ask. This is quite obvious as not everyone belongs to a technology background or having knowledge of the platform. To help on this matter, provided below is a guide about the things to ask e-signature vendors prior to hiring.

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

Top Questions to Ask Prior to Hiring E-signature Vendors

Hiring an e-signature vendor can be taken like hiring any other vendor. Hence, one can ask the e-signature vendor pretty much the same way as they would do for others. It’s all about being focused around the needs. However, there are some fundamental details that everyone is essential to know. Discussed below are a few of the very fundamental questions that one definitely needs to ask e-signature vendors.

1. Can it be ensured that documents are not modified post every signature?

There are certain e-signature solutions that come up with a spec known as the tamper evidence. This enables the user to know whether an e-signed document has been modified. However, different technologies deal with this aspect in different methods. In this context, the first thing that needs to be checked is the security level of the concerned service provider is optimal or not. Don’t forget to ask e-signature vendor whether the technology makes use of tracks everything from the initiation phase of the transaction. Those do this only at the end of the signing process should not be taken in to account.

2. Does it highlight illegal modifications attempted?

It is important to ask e-signature vendor whether it has highlighted the illicit alterations attempted. Crucial here is to understand that the authenticity of the document can be saved, proving the first signer didn’t change. Moreover, it is important to ensure that the first signer didn’t change prior to being sent to the other. Some vendors come up with extra options to keep the documents safe from tampering. This restricts any of the changes once the process is finished.

3. What is the level of audit trail it goes for?

Variations are obvious with the level of details kept by different e-signature platform. One may ask e-signature vendor about the kind of trail it goes for. In this context, the most secured is considered the one is coming with a granular audit trail. It keeps track of each element of the whole method. Here the following aspects are kept track of.

Details on when and which date the document was put for submission.

Regarding the acknowledgment of the signer.

Regarding termination.

Regarding the IP of everyone who signs.

The specific time when every signature was put.

Details of the digital certificate issue.

A complete trail like this makes sure that the documents are backed by the legally acknowledged proof to confront any claim.

Electronic signature laws play an important role in the implementation of e-signatures. Let’s elaborate the role of ESign act in electronic signatures.

4. Can I depend upon you regarding the authentication of the signature?

It is important to ask e-signature vendor regarding the dependency on the provider regarding the authenticity of the signature. Complete details through the trails are useful when it comes to confronting the legal aspects. But, it is more important to ensure that the documents are accessible.

One should ask e-signature vendor whether it lets the user for authenticating signatures distinctively. It, in other words, is about seeking proof of the digital signature to be thoroughly integrated into the documents signed. An explicit e-signature setup comes with technicality making use of the public key infrastructure of PKI, as well as the published norms. This is essential to ensure that the documents are authentic and unaltered. The point is that you hold the right of the proof. This ensures about having access at any time wished. In this way, one can have access to even many years of post-transaction.

5. Can you guarantee about meeting industry-standard?

It’s one of the most fundamental questions to ask e-signature vendor whether the concerned platform meets industry standards. In this context, it is crucial to meet the norms of ESIGN and UETA e-signature. Additionally, it is crucial to ensure that the e-signature platform meets the industry-specific norms.

6. Can I stay assured that only the acknowledge people get, have a view of, and get signed with the documents?

One of the most important questions to ask e-signature vendor is regarding who receives the documents. Basically, it has to be ensured that only the allowed groups of people get, see, and go for signing the documents. To avoid illicit access, it is important to ensure that the concerned vendor makes use of a dual authentication process. There should be one fundamental edition or stage asking the basic details, and the other about the details like password, phone number, etc.

There are certain documents that are more sensitive than others. A here greater level of authentication is quite obvious. Hence, it is crucial to take these aspects in to account when it comes to choosing e-signature vendor. For advanced level assurance, the following aspects should be ensured.

Explicitly email-based authentication

Here a user has to tap on a link within the mailbox to get into the transaction process.

Personal questions

Here the user is asked secret questions, mostly the personal questions.

Authentication based on knowledge

Here the user is asked to provide the birth date and the final four numbers of the SSN. Upon correctly answering, various MCQs are put forward; those have to be answered perfectly to have the transaction.

Also Read: An Overview of UETA and ESIGN Act

7. Is it possible for the e-signature to get integrated with the available document platforms?

It is important to ask before you choose e-signature vendor whether the e-signature can be combined with an available document. There are many e-signature providers that are capable of addressing these issues. However, here the extent of integration has to be checked out. It is advised to connect users through a single application. It would be even better to find a vendor capable of ensuring complete integration. It means that the e-signature solution is thoroughly personalized to meet the outlook and experience of the present technology. This is to ensure that the smooth signing experience is provided for you/the customer.

Apart from the tricky technical questions, there are certain very fundamental questions that have to be asked as well. These questions are very basic but absolutely important at the same time, as discussed below.

Digital Signatures and Electronic Signatures are two similar looking terms but are different from each other. Check out the difference between the two i.e. Digital Signature vs Electronic Signature

8. What is the number of customers that the concerned e-signature vendor is having in the industry?

This is one of the simplest questions every buyer should ask their e-signature vendors. There is nothing complex or technical about asking the question. All that needs to be ensured is whether the service provider is established in this arena. These services are quite technical and knowledge-based.

On the other hand, not too many people remain aware of the affairs dealt with in this segment. It means the most reliable way to enquire is to know about the vendor through the client base it possesses. If possible, one may also connect with concerned clients. This provides the much-needed peace of mind for the user. Obviously, a vendor or service provider with more number of established client bases is more trustworthy.

9. How many clients has it dealt with those having similar requirements as you?

This is another fundamental question every buyer should ask their e-signature vendors. As discussed above, e-signature requirements and the associated constraints often vary from one case to the other. Naturally, the associated vendor is essential to be well versed in the kind of issues you deal with.

It should be experienced enough in dealing with the kind of legal aspects your case is associated with. And, the best recommendation for this would be to enquire about the number of similar cases it has handled before. Moreover, the success rate on similar occasions is one of the important things to look into an e-signature vendor. Only if the vendor is proven enough in dealing with such requirements should it be hired.

Also Read: Top 10 Uses of Electronic Signatures

10. How many projects have they handled those who have gone live and can be referred to?

Be it about e-signature or anything else; success is always measured through the proven statistics. Coming to e-signature being particular, the number of projects it has handled has already gone live is a must to enquire about. It makes things easier for an enquirer or hirer to have the reference of the kind of project that the concerned user has handled. It talks a lot about their efficacy as well.

Final Words

No doubt, e-signature has now become an integral part of every organization. To avail its benefits, most of the businesses whether small or large, are now adopting e-signatures. So, the above-mentioned ones are some of the most important and fundamental things to look at in an e-signature vendor prior to choosing that.

Here we have covered the ten most common questions that an organization should ask their electronic signature solution provider. One may enquire and list out some other questions as per his/her needs. So, ask how many questions you want to your vendor, clear your doubts, and get ready to implement e-signature to your business!

Posted by Brian Felix, 0 comments
28
Dec
2019

Electronic Signature is the Future of Business Contract Signing

An electronic signature needs no introduction. In fact, it is already quite acknowledged. It has appeared as the aptest successor of the traditional methods. Esignature and business contract signing are trending and considered to be the future at all levels. The biggest assurance is achieved through the E-sign act. In a technology-dominated era, this is indeed a great concept. One may not hesitate to accept it in the future.

However, there are various dimensions that are essential to be analyzed. The transition phase is obvious to be challenging for any aspect. The same has to be the case about esignature and business contract signing as well. There remain various factors, starting from the budget to feasibility that has to be analyzed. The following aspects throw more light on this aspect.

Also Read: Top 10 Uses of Electronic Signatures

Here’s Why Electronic Signature is the Future of Business Contract Signing

1. Perfect for contemporary business Practices

Digitization has grasped the entire business segment so effectively that no functionality is looking feasible without it. It’s just quite impossible to think about a business operation without web connectivity. Usage of communication modes like email has become conventional these days, at even the rural level. Needless is to talk about the impact of smartphones in modern times. On such occasions, esignature and business contract signing being the future is very much acceptable.

2. Incredibly accessible

Modern-day business groups emphasize about the portability of the business service segments. Flexibility is something that every organization and even the employees seek. Both users and service providers want to have access to business platforms powered by technology from anywhere. Esignature and business contract signing meet this requirement quite well.

Specifically, it assists the HR departments hugely. It is reliable enough during the urgencies. Things have gone much encouraging for such concepts powered by high-end technicalities ensuring speed. Modern-day data-oriented technology makes it a flawless concept to be adapted. In short, there is a perfect platform set for this technology to be adapted. From these perspectives, the future is obviously assured.

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

3. Studies suggest about its bright future

There is no scarcity of studies and speculations regarding esignature and business contract signing. It is quite a feasible option for large scale organizations. The interesting part, as per the studies, is that the technology is speculated to associate with ecommerce sectors as well. In fact, studies claim that its adaptation in the retail sector is going to increase by two times in upcoming years.

These studies are based on the investments being made by the leading technology companies on esignature and business contract signing. Focus is being given more towards the retail sectors by these tech houses. In this context, the emphasis is being given towards making things as cost-effective as possible.

4. Encouraged by digitization

Digitization or online presence of the business groups is highly encouraging for the esignature and business contract signing. It is evident that almost every industry has an online presence these days. Such online modes of transaction and operations always prioritize simpler access and quicker processing.

After all, productivity is something that every organization wishes for. Needless is to say that esignature and business contract signing fits this bill quite well. It is accessible and cuts shorts the number of steps involved. Naturally, the process becomes faster. With faster processing, productivity is obvious to grow. All these aspects assure the future of the industry quite well.

5. Easiest to be implemented

Ease of adaptation is the primary reason behind esignature and business contract signing getting such popular. The way it seamlessly gets adapted to the needs of the businesses is quite well. This is because these technologies address the core aspects of business administration.

The entire aspects, starting from preparing the draft to sending the same, everything becomes a matter of a few clicks. There remains no fear of missing documents, missing signatures, etc. It is quite automatic in its way. From this perspective, the concept is quite bright with its future.

Check Now: Top 10 Ways to Future Proof Your Esignature Investment

6. Assured from legal perspectives

Modern-day businesses involve various complexities related to contract signing. This is done to avoid the legal complexities at all level. Enterprises prepare contract documents articulately, specifying each point thoroughly. These are done to avoid legal issues in the future. At the same time, it is equally important for the concerned employee to have thorough clarity on these aspects. For a new recruit to go through all these details is obvious to be time-consuming.

Things get especially tough with conventional paper-based documents. However, things are much simpler these days powered by esignature technologies. It helps the HR professionals in conveying the terms well. Similarly, going through the terms through such technology modes is way simpler. Taking all these into account, the future of business contract signing can indeed be claimed to be the brightest.

7. No concerns of security

Be it about esignature or any other technology; it needs to be secured enough to be acceptable. From that perspective, e-signature is indeed a reliable concept. The best part is that it is reliable enough for all industries. It is already tested and proven. Moreover, the future of business contract signing is expected to be enriched with much-advanced security features.

First of all, there is no hassle of dealing with a huge bulk of paperwork. It means there is no threat of missing any document. Powered by high-end technicalities, the privacy aspects of data remains very much ensured. Through advanced digital storage, it makes things absolutely easy for HR professionals. In addition, there remains high-end user verification for using electronic signatures for better protection.

Digital Signatures and Electronic Signatures are two similar looking terms but are different from each other. Check out the difference between the two i.e. Digital Signature vs Electronic Signature

8. Associated technologies equally enriched

It’s not just that e-signature technology is a security enriched technology. Rather, the associated technicalities for it are equally fulfilling these days as well. For example, the servers in modern times are much secured, encouraging the technologies of such. This enables the secured storing of contracts using electronic signatures. At least it is far better than the conventional mode of files and paper-based documents.

9. Providing incredible control

The level of control that esignature provides for the users, as well as the organizations, is incredible. Tracking things, like whether the contracts are gone through, is much easier through these technicalities. In fact, it can be tracked when the concerned party or staff signed the documents. In other words, e-signature and business contract signing provide the much-needed transparency.

It was never as assured as it is at present. Specifically, the managers and HR professionals don’t have to feel baffled in any aspect. This is high confidence-boosting and productive for the organizations. With greater control, business forecasts can be made much accurately. Now it is obvious for e-signature and business contract signing technology to be highly acceptable. This ensures its bright future.

10. Acceptable being corruption-free

There is absolutely no chance of anything illegal to occur through this technology. This avoids the corruption occurring at the higher levels of top corporate houses and the government houses. In fact, it is possible to prove the identity of the party signed the contract or the documents as well. Moreover, it assures the organization proving that the party was aware enough prior to sign it.

This is a great accomplishment that any organization would seek. Top corporate houses have already adapted this. Smaller and mid-range companies are also expected to get attuned to it in a very short time. Keeping all these in the eye claims that electronic signature is the future of business contract signing holds the absolute truth.

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

11. Saving numerous costs for documenting

It’s not just that electronic signature is efficient and safe. One of the distinguishing characteristics of the technology is the way it saves the budget for the concerned organization. First of all, it nullifies the paper works associated. The needs of printing, Xerox, scanning, etc. also get zeroed. It means there is no need to have equipment meant for these purposes.

This discovers space or the entire office can remain functional at the lesser premises. Needless is to say about the growing cost of office rents. Similarly, there are no threats of costs associated with color, stamps, pins, files, etc. High-end papers used for making bonds and contracts are pretty expensive. However, through e-signature, there is no need to worry about such expenses. In short, the technology saves the budget of the organization in a great way.

12. Preferred for reducing manpower and technology costs

Apart from the discussed above points, technology helps in lessening the manpower requirements as well. No need for hiring separate staffs for separate tasks like printing, scanning, etc. A single person can achieve all these at the fingertip using the technology. Moreover, it reduces the level of burden on HR professionals in a great way.

There is no need to employ a person simply to maintain different registers. Through automation of data keeping, report generation also gets swifter. Here one doesn’t need to hire special staff for report generation only. It can be claimed that there is no need to use different tools for different purposes with e-signature tool.

The cumulative cost of different technologies and their operators can be saved by an all-inclusive e-signature tool. In short, the speculations like electronic signature is the future of business contract signing are absolutely true. It is going to revolutionize the entire business segment.

Posted by Brian Felix, 0 comments