eSign

21
Jul
2021

Benefits of using Electronic Signatures in the Healthcare Industry

Do you know that physicians waste two-third of their time doing paperwork? In the last two years, it has become overwhelming for them with a swelling number of patients, understaffed medical facilities, and challenges in recording and storing their data.

A study has confirmed that the amount of paperwork that doctors have to do is out of control. Physicians spent 27% of their time seeing patients in their offices and 49.2% of their time on paperwork. Even when doctors were in the examination room with patients, they spent only 52.9% of their time conversing with or examining them and 37% on paperwork.

The data is only the tip of the iceberg. We also have to consider medical insurance forms, claims, and the time spent filling these forms.

This study shows that the amount of paperwork is getting insane and worse over time.

The healthcare industry faces many changes like government regulations, technological innovations, and patient expectations that pose new challenges to healthcare organizations in 2021. Some of which are cybersecurity, patient experience, invoicing & payment processing.

The industry deals with sensitive client data exchanges every day. It is imperative to ensure that all client data is collected accurately, and precautions are needed to eliminate tampering of the medical document by assuring its safe storage and security.

What if there is a technologically proven solution to eliminate paperwork and enable a paperless document workflow with uncrackable security & safety?

Welcome to electronic signature technology! Using an eSignature solution, healthcare providers can speed up the collection of the consent of the doctor and patient while maintaining a level of compliance that meets traditional signatures or exceeds them.

Here are the core benefits of using electronic signatures in the healthcare industry:

1) Focus on the patients rather than the paperwork

For a long time, doctors, nurses, and other healthcare workers have complained about the time-consuming paperwork, which they say is a massive waste of time. They cannot see as many patients in a day and can’t spend much time focusing on improving their medical condition.

These are the top 4 specialties in the medical industry spending most of the time on paperwork:

  • Psychiatrists (20.3%)
  • General practitioners (17.3%)
  • Internists (17.3%)
  • Paediatricians (14.1%)

LunarPen application helps reduce paperwork for your health staff to increase the quality of care received by the patient and focus more on saving their lives.

Electronic signatures help capture and securely store all the end-to-end details of patients in a single application, starting from paperless:

  • Admission of patients
  • Doctor’s prescription
  • Progress report
  • Discharge of patient
  • Medical insurance claims
  • Hospital bills

2) Fast track crucial processes in healthcare

Most healthcare processes were a bit different decades ago. In 2021, most hospitals practice the same age-old methods that waste both the patients and healthcare time. The hospital administrator would hand out registration forms for filling and signing patient information. It is still happening to plan & confirm doctors’ appointments, which would eventually get processed manually by the staff.

When it comes to medical records, we use hand-written signatures on every medical document.

After some time, the older document gets destroyed because it is no longer needed.

Below is the existing lifecycle of documents without electronic signatures:

Print – Sign – Scan – Store – Destroy

Digital transformation empowers the industry to sign documents on any digital device anytime, from anywhere. Secure cloud storage is responsible for the storage, retrieval, and disposal of records.

New lifecycle of documents with electronic signatures:

Sign – Store

You can see the complete reduction in process steps with eSignatures that helps fast-track crucial processes in the healthcare industry.

That means the moment you sign the documents with digital signatures, they are stored securely in the cloud without the need of printing-signing-scanning-storing. It brings several benefits to the ailing patient and the overloaded healthcare personnel, which are:

  • Patients don’t have to carry their medical documents every time
  • Doctors can make important decisions about patients quickly
  • Save expenses related to printing, copying, scanning & document storage
  • Verify the authenticity of medical bills with ease
  • Tampering is impossible with online medical documents

3) Keep confidential patient data secure

Manual signatures have physical limitations, like they can be misplaced, copied, or damaged easily. They take longer to create, collect and store, making them easily prone to destruction, theft, and forgery.

Also, they fail to capture relevant information like the party’s intent to sign or the verifiable date and time of signing of agreements.

Electronic signatures successfully fill all the gaps left opened by manual signatures.

All critical documents are present on the eSignature application in digital format, assuring complete confidentiality of patient’s data against any attempts to steal it.

The eSignature application is accessible only by trusted healthcare professionals approved by the admin that keeps the data safe from unwanted sources. Additionally, the electronic signature technology uses multi-factor authentication to enhance security by requiring signers to express the intent to sign by utilizing the E-signature application.

There are several available options like secret Q&A, user id & password, uploading identification images, and many others for e-sign transactions.

Such security measures assure that only the permitted person can edit, access, and view the data.

4) Improve patient experience

Patients usually waiting in long lines, having little or no time to read forms carefully, and experiencing delays in getting access to doctor’s care are not the ingredients for a positive patient experience.

Digitizing documentation is the most effective method of eliminating the need for patients to be held up by paperwork. Every documentation is covered in electronic signature application, whether onboarding, discharge forms, or improving the efficiency of insurance claims processing.

Healthcare professionals and patients can read, accept and sign the forms from the comfort of their own homes, thanks to the remote capabilities of the application.

Furthermore, as the physicians are no longer required to do the tedious task of covering documentation, they can give much-needed time to the patients, which is a win-win situation for everyone.

5) Legal compliance

There are numerous laws to safeguard businesses using electronic signature applications and provide the required legal compliance to paperless signatures for a smooth user experience in every industry. Check out the details of these laws that assure legal cover to eSignatures:

eIDAS: eIDAS facilitates electronic transactions between citizens, enterprises, and the governments of any state of the Union. It ensures a market for trust services and legally protects the electronic signature based processes. The tremendous benefit of eIDAS is that it is permissible across all EU countries and can be used to open up additional EU markets for businesses.

HIPAA: Compliance with HIPAA can be helpful to your business. They are trusted more in the market since patients and clients believe you keep their data secure. Its primary benefit is profitability. Loyalty to customers results in greater profitability for your company. A majority of insurance companies and employers in the US sponsor or co-sponsor their employees’ health insurance.

ESIGN: The ESIGN Act helps expedite the use of electronic signatures in all places where federal laws apply. It ensures that eSignatures are permitted in the courts as credible evidence. Additionally, it makes sure that electronic documents have indisputable proof of validity, effect, and enforceability.

UETA: UETA provides a legal framework for electronic signature use per state. It is used to deal with everything from transferable records to automated transactions and record retention. 48 US states have adopted it.

Digital signature complies with the requirements of all the laws and assists organizations in meeting compliance requirements across the health industry. It covers health plans, medical equipment manufacturers, pharmaceutical companies, and providers by managing the signing process and ensuring that all information is authenticated and kept secure.

Case Study

Chupik Counseling has provided mental health services to central Texas patients for nearly three decades. Bread and butter for the therapists and counselors are therapy and counseling, offering evaluations, medication management, and additional services. In the year 2020, they opened five brick-and-mortar locations. During the severe global health crisis, their telehealth initiatives expanded rapidly.

Challenge

The CEO of the company, Jeffery Chupik, was a big believer in face-to-face therapy. Then in the year 2020, as the global pandemic struck, the entire world changed, shunning physical interactions and relying more on digital mediums for meetings.

It didn’t take long for staff to realize that they had no proper system to get patient consent for their telehealth services. They needed a solution to rapidly onboard new patients that didn’t rely on face-to-face meetings.

The Pain Point

Chupik required a rapid transition to telehealth to bring their onboarding and consent process online.

The Solution

Electronic signature made customer onboarding easier by including links to readymade onboarding document templates instead of PDF files. As the patient signs forms, their therapists automatically receive a digital copy of the patient with all the details.

Here are the features that clicked electronic signatures with Chupik:

Lightning-fast adoption

In a matter of a few hours, Chupik was able to get started with eSignatures. No complicated setup backed by quick and convenient signing.

Time-saving templates

It is easier to create templates easily for commonly used documents.

Conclusion

More efficient patient service is possible while maintaining compliance and standards by utilizing a digital eSignature solution. If you are a healthcare service provider and interested in using digital signatures to boost the efficiency of existing healthcare processes, please get in touch with us now.

Frequently Asked Questions

What documents could healthcare companies be signing?

Every document can be quickly converted into an online format using the readymade templates of electronic signatures. Healthcare companies can sign multiple documents like:

  • Patient intake form
  • Patient consent form
  • Care documents
  • Billing documents
  • Provider agreements
  • Claims processing forms
  • Drug prescriptions
  • Lab reports
  • Staffing forms
  • HIPAA forms

Are e signatures on medical forms and records legally enforceable?

Medical forms and records are among the documents that can be signed electronically, including prescriptions and medical records.

The Uniform Electronic Transactions Act (UETA) and the Global and National Commerce Act (GNCA) must be taken into consideration when determining the conditions necessary for electronic signatures under HIPAA law (ESIGN Act).

Both the UETA and ESIGN establish that electronic signatures and forms have the same weight and legal effect as hand-written signatures and traditional paper documents, just as they do with hand-written signatures and conventional paper documents. A specific provision of the ESIGN Act specifies that the signed document’s legal enforceability cannot be denied in electronic format.

What are the requirements of e signatures under HIPAA?

Electronic signatures are not under HIPAA rule. They are acceptable if they are compliant with the ESIGN Act and the UETA Act.

The conditions of the UETA and ESIGN Act are:

Legal compliance: The contract, document, agreement, or authorization should comply with federal rules for e-signatures, must display the terms, and should offer the signatory the option to receive a printed or emailed copy of the contract.

User Authentication: For preventing disputes, the covered entities must implement a system to validate the identity of all parties in the contract. Two-step verification can solve this problem.

Message Integrity: It is necessary to implement a system to ensure the integrity of the agreement. This condition is similar to the HIPAA security requirements for electronic communications and therefore deserves the same level of importance.

Ownership and control: The requirement is to make e-signatures HIPAA-compliant to stored signed documents on servers of e-signature service providers.

How can eSignature technology be used in the healthcare industry?

Here are the other important uses of electronic signatures in the healthcare industry:

Customer documentation: Every patient has a file that keeps their documents intact. Often, patients need to sign the papers. Doctors can also eSign the documents during a patient’s checkup.

Approving medical procedures: All hospitals require consent from all patients before engaging in any process. It is necessary to prevent a patient from making a charge in court against the hospital.

The signing of medical certificates: A certificate issued by a medical professional verifies an individual’s ability and approval by the relevant healthcare provider. The medical profession can use eSignature solutions for healthcare signing of documents.

Medical receipts: An electronic signature is used instead of manual stamps to prevent faded or unclear stamps.

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
09
Dec
2019

Benefits of E-Signatures for HR Department

E-signature is already on a roll. Many renowned enterprises have already adopted this. Among all, the benefits of e-signatures for the HR department are indeed most of all. Electronic signature software provides a higher level of convenience in comparison to the old school method of signing the documents. It is more hectic for the HR department to deal with the paper documents as they have to deal with a variety of those.

For example, starting from contracts, bank documents, to various agreements, they have to deal with all. There is no need to handle any such hassles through e-signature. At the same time, making things simpler, it assures them from safety-related concerns as well. E-signature is a much effective mode of operating, which enables HR professionals to handle things in the least possible time. Naturally, the productivity level can be increased.

Use of electronic signatures for contracts has been widely accepted. Here’re the 10 ways electronic signatures are changing how contracts are signed.

Almost every industry is digitized in the modern era. In fact, even the production and manufacturing units are digitally enriched. On such occasions, HR departments are obviously expected to make the most of the e-signature software.

The following abstracts discuss the benefits of the e-signatures for HR department in a broader way

Hastens the process of recruitment and other formalities

The primary work of the HR department is indeed to handle recruitment affairs. And, one of the primary benefits of e-signature for the HR department is that it makes those tasks look easier. Needless is to say that the HR work processes involve various kinds of formalities. Starting from document checking to signing on different documents, it involves various steps. E-signature software can turn these tasks into minuscule affairs. Naturally, much precious time in the department can be saved. Documentation and the formalities often delay the joining process of new talents for the organizations. It also delays the hiring process. Such delays affect productivity greatly. One of the major benefits of e-signatures for the HR department is to end such delays to a great extent.

Reduces extraneous tasks:

HR departments often involve a range of unwanted works like printing, scanning, Xerox, etc. All these things involve various machinery installations. There remain issues of maintenance of these devices, their performance lagging, etc. All these things ultimately delay the process and affect productivity. On the other hand, one of the prominent benefits of e-signature for the HR department is that there are no such hassles here. It’s a smart way that can be addressed in the least possible time. Making things faster, the technology turns it much cost-effective as well.

It encourages automation

E-signature for the HR department enhances the process through incredible automation. Specifically, the hectic administrative tasks can be greatly enhanced through such technicalities. In fact, the entire paperwork needs can be digitized for them. The whole talent acquisition process can be streamlined through such technical mode. Moreover, it is quite simple as a process that can be easily handled by even the older generation people.

Must Read: 10 Reasons Why You Should Adopt Electronic Signature for Your Business

Makes things easy for the younger generation to adapt to

HR departments often pay a lot of emphasis on hiring young manpower. Technologies like e-signature can indeed be impressive for them. Not just the staff from other departments, the budding talents from the HR departments also would prefer having such tools. It provides them the ease of functioning. Considering the fact that most of the modern-day youth is tech-oriented, such technicalities always interest them. They don’t need much special training to learn the working ways of the HR department. This is indeed one of the prominent benefits of e-signature for the HR department. They would love handling problems through such high-end technicalities; rather than the old-schooled paper works.

Reporting turns easier like never before

One of the major challenges that the HR departments face is regarding reporting. They have to submit reports of different kinds to the managers or other department heads. Specifically, the reporting of documentation status is one of the most challenging affairs for them. It is understandably tough for them to produce such documents in real-time. However, the benefit of e-signature for the HR department is that it makes such a report generation process look simpler. Through regular ways, various kinds of confusions are obvious to appear. For example, the HR professionals remain in dilemma whether the candidate received the file, checked it, etc. In addition, they have to check whether the candidate has signed at each of the points. In case some mistake occurs, the process turns even longer. However, through the benefits of e-signature for the HR department, such issues can be totally reduced.

It’s updated and always available for urgencies:

HR departments often have to deal with the urgencies. They are asked to submit a report in a hurry and also fulfill certain formalities. All these are indeed time-consuming processes in traditional ways. However, through technical options like e-signature software, things have gone much simpler. The prime benefit of e-signature for the HR department is that it enables the department to stay updated about the entire affair. No more probable answers by the HR professionals as these tools deliver an exact answer.

There are a number of myths about the e-signature. Here’re top 10 electronic signature myths and facts behind them.

Provides flexibility of working; no place constraint

One of the top benefits of e-signatures for the HR Department is in terms of the flexibility it provides. Specifically, it is much more helpful for HR managers than others. It enables them to work from home, or anywhere else in the world they would wish to. Officials who often have to travel a lot and still have to report can find these technicalities absolutely useful. It also provides them the leeway of working as per their comfort zone. This means they can maintain the workflow despite relaxing somewhere. Naturally, this boosts the overall productivity of the organization. In fact, they can communicate with the employees of the organization from any point.

Cost-effective in many ways

Being cost-effective is of the top benefits of e-signatures for the HR department. Though it appears like an expensive aspect, it saves the budget for the department in reality. First of all, the expenses associated with affairs like printing, scanning, Xerox, etc. get reduced. In addition, the expenses involving stamping, inks, paper, etc. get reduced significantly. Digital documentation needs no special management, as well. There is also no need to spend money on courier related affairs. As there is no requirement for Xerox, printer, etc. devices, the space required can be greatly reduced. Overall, the expenses related to administration tasks get nominal as possible. One doesn’t even need to worry about maintaining the documents. Through e-signature software, any document can be generated from any point anywhere. All these aspects save money for the organization.

Maintains utmost transparency

Through the benefits of e-signature adoption in the company, the recruitment process can be greatly hastened. Moreover, it maintains incredible clarity overall. It allows the concerned employee to go through the documents thoroughly. The points of confusion can be thus cleared instantly. Moreover, they can sign those digitally immediately. Earlier through traditional ways, it was quite tough for an employee to go through a range of documents, agreements, etc. E-signature software enables them to enjoy this facility from any point. It thus assures the concerned company from legal perspectives as well. The candidate also feels confident regarding transparency. All in all, a better deal is settled between both the parties.

Use of electronic signature can bring several benefits to you. If you have any doubt regarding the use of electronic signature, read out these 10 reasons to adopt e-signature for your business.

Maintains simplicity

One of the major benefits of e-signature adoption in the company is the simplicity it provides for the concerned company. Needless is to say that there remains a great range of documents that the employees have to go through. It’s the duty of the HR department to prepare these documents and maintain them as well. Handling things manually is always challenging for any HR professionals. However, high-end e-signature tools have made things look absolutely simpler. These benefits of e-signature adoption in the company maintain a good relationship between the employees and the department. Most importantly, it doesn’t disturb any of the parties. No workflow is disturbed as well through the course. Obviously, this is something that every company would wish for.

Smarter safety awareness:

Keeping employees aware of the security norms of an organization is the duty of the HR department. In general, these safety guidelines involve a huge number of documents. The concerned employees have to go through various complicated terms and conditions. However, through the uses of e-signature for the HR department, these issues look much simpler than ever. The best part about these tools is that it maintains things in an updated fashion. In fact, the staffs get the details regarding the security norms in a spontaneous way. This reduces pressure from the HR department.

Smarter environmental awareness

Not just the safety-related norms, the HR depart has to guide employees regarding environmental policies as well. Now through the uses of e-signature for the HR department, these works look much more strategic and simpler. At the same time, lesser paper consumption also is a great step towards environmental benefits. It saves time for the HR department that would have wasted in educating. This enables them to focus on other works, which ultimately improves functionality and productivity.

So, using electronic signature for HR department is a great idea. Don’t think much and take the right decision and incorporate electronic signature to experience the great benefits of electronic signature. for HR department.

If you still have any questions, put your doubts in the comment section below and I’ll be happy to answer.

Posted by Brian Felix, 0 comments
10
Oct
2019

10 Ways Electronic Signatures are Changing How Contracts are Signed

With greater availability of the internet, it has been possible to access data quickly. It makes communication happen in an unbelievably fast way. Similar is the case of business as well. Buying or selling things is a matter of a few clicks over the web now. Taking things to the next level, the concept of electronic signatures for contracts has surfaced.

There are a number of questions regarding electronic contracts such as - What is the working model of electronic contracts? When are these used? One can clear all the critical doubts on these aspects upon going through the Uniform Computer Information Act. Anyway, the following abstracts provide a detailed study of electronic contracts, electronic signatures for contracts, etc.

The use of electronic signature brings so many benefits to your business. Here are the top reasons to adopt an electronic signature for your business.

What are Electronic Contracts?

At the very fundamental level, electronic contract signing is an electronic form of legal documents. These legal documents, however, are developed and signed over the web or online. Many companies operate entirely digitally or online. These companies often have to depend upon electronic contracts to make agreements with users or others.

The advantage is that it saves money for both. Just as of the mainstream contracts, electronic contracts are legally authentic. These are entirely enforceable as well. However, in contrast to the usual contracts, electronic contracts are completely web-based. One can use it in various cases, starting from using email programs, authorization for software, etc.

Electronic contracts have also used these days for social media signing-up and facilitating streaming services. Irrespective of the associated permissions, e-signatures for contracts operate very much under the regulations of regular laws for contracts. It also provides equivalent agreements to both business groups and consumers.

How are the Contracts Signed Electronically?

In contrast to the usual paper-based contracts, one needs to sign electronic contracts over the web. Instead of a paper-pen signature, these contracts use electronic forms of signatures. There is no use of ink or any paper, and so these are the electronic signature or simply e-signature. The process of creating and signing electronic contracts is extremely simple. It is a matter of simply putting a click on a button as well.

On some occasions, one has to simply ‘agree’ regarding the authorization of a product or application. It is just about clicking the ‘agree’ button to pay the bill as well. The contract prepares immediately as the concerned user clicks the desired button. There are also the e-sign contracts models available where the user’s name has to be typed on the electronic contract.

One can also complete the tasks by making use of the cryptographic signatures. One may take ‘Public key infrastructure’ as a nice example of a cryptographic signature. It is here to note that Public Key Infrastructure works the same way as of PINs used for ATMs.

Among others, XML based signature is also very much used these days. The best part about the XML based signature is the greater safety it assures. It makes use of digital thumbprints to ensure the safety of a greater level.

There are a number of benefits of replacing a paper-ink signature with an electronic signature. Check out the top 10 uses of electronic signatures!

Legal Concerns of Electronic Signatures for Contracts

Electronic signatures for contracts are legal in most cases. If it falls under the UETA and ESIGN Act, then there is no problem in its acceptance. These laws pay equal worth to the electronic signature to those of the paper-based traditional methods.

When a person goes for electronic signatures for contracts, it holds equivalent worth as of the paper-based methods. However, it is also true that UETA can’t be applied on all occasions. The traditional laws and acts are very much essential in such cases. Specifically, in cases where a copy of the contract may put a harmful effect on the consumer, people prefer traditional methods.

There are various nations and states where UETA is very much applicable. It is thus important to make sure that the rule is applicable in the concerned state you belong to. Additionally, to execute electronic signatures for contracts, both parties should agree upon. Be it about Business-customer, or business-business contracts, acceptance of both the parties is quite essential for a final agreement.

Also Check: An Overview of eIDAS Regulation

When are Electronic Contracts Not Permitted?

There are various occasions when electronic signatures for contracts are not acceptable. It is important to know about such instances. There are instances where an online contract is unacceptable or inapplicable. In all those occasions which hold threats towards the user, such contracts can’t be accepted. For example, the cases of divorce, child adoption, and other sensitive affairs can’t be kept under electronic contracts.

Similarly, the documents of courts are not acceptable in electronic form. Also, the notices served regarding the end of crucial services can’t be done through electronic contracts. Notices served to defaulters are not acceptable in electronic form. Notices meant for evicting a specific property are also impossible through electronic modes.

Apart from these, the notices served regarding the termination of utility services also demand proper paper-based notices. Ultimately, anything in the form of a notice that could affect the safety of people or may bring health concerns should be done traditionally. In most cases, the documents required by legal procedures are also desired to be paper-based.

There is no other way than paper contracts at present when it comes to family laws. A whole range of wills made is essential to be made through papers in modern times. When it comes to sending notices for termination of any utility, there is no other way than paper contracts.

Notices delivered regarding eviction or possessions are also essential to be handled through paper-based ways. Terminating the health or life insurance is also preferable through paper-based methods.

As explained above, it is better to ensure whether the UETA and ESIGN Act comes under your state. In accordance, one can take the decisions on electronic signatures in contracts.

Information Technology Act, 2000 is the law that makes e-signatures valid in India. Let’s get a detailed overview of this Indian e-signature law.

How are Electronic Signatures Changing How Contracts are Signed?

It’s the simplicity that makes electronic signatures for contracts so much useful. The overall swiftness to the procedure is quite impressive for all. Many people are showing their interest in it in modern times. However, it is true at the same time that the law of electronic contract gives scope to use paper documents on certain occasions. Prior to a consumer goes for signing an electronic contract; businesses should serve notice about the availability of paper contracts.

They should also make it clear regarding the penalties applied in case any mistake occurs. They should recommend a date in this regard. It is certainly not legal to force any company for paper-based contracts. In fact, in the digital era, the electronic signatures for contracts seem useful. On such occasions, having people prefer the paper-based option only for security purposes.

Undoubtedly, e-signatures for signing contracts are user-friendly. However, it is also true that it needs trustworthy internet connectivity. It means people who can’t have regular internet connectivity may not find it as an appropriate option. Apart from this, there remains some extent of security issues as well. Though, from a price point of view, the electronic format can be a much suitable option.

Let’s find out how the electronic signatures are changing the ways how contracts are signed.

  • Making things quick

One should not doubt the ability of technology in any way. Just like any other business functionality, it holds the ability to hastening these contract making processes as well. Electronic signatures for contracts facilitate immediate communication and data share. Moreover, it does all these in real-time. This makes it possible for them to connect with partners all around the globe. When the efficiency of finishing formalities grows, naturally, the overall productivity grows. Pending collaborations for such implications are addressed quite smoothly.

All in all, the entire set of works is accomplished in much lesser time than expected. There was a time when the process of contract making used to continue for weeks and even months-long period. It looks quite obvious as the process of distributing documents through different stages would consume a lot of time. Through electronic signatures for contracts, things can be done in a much quicker time. It means less is the obligation associated; quicker can be the process.

  • Convenience

Electronic signatures for a contract are indeed the most convenient option available. Being convenient is the reason behind the growing productivity level of the companies adopting the same. Through cloud computing, it is becoming possible for people to have access to works from anywhere, at any point.

When it comes to making contracts, you can edit and review data at any time. The best part is, you can do all this through your smartphone itself. This means one can complete the formalities until the concerned authority finally acknowledges things. Ultimately, there remains no chance for any kind of delays in it.

  • Safety

One of the primary concerns of using electronic signatures for contracts is it is safe. It’s the safety aspect that makes people get worried while using electronic signatures. People worry speculating whether the documents will be in safe hands within the virtual space. With growing reports of cyber attacks, several people are enquiring about these aspects. In an era of technology, driven by data, safety can be a game-changing factor. Little alternation or modification of the document can change the entire scenario.

Moreover, not a single person is responsible for such unfavorable occasions. In the digital era, there is nothing called inaccessible. Hence, it is important to follow electronic procedures thoroughly to keep track of everything.

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

  • Future

It’s not just a trend these days to handle everything electronically. The day is imminent; there will be no other option, but to deliver most of the affairs electronically. Modern-day people are easily adopting technological means. Rather, they find the other means of paperwork more complex.

It’s common that a much lesser number of people have time to move from one office to the other for the sake of formalities. On the other hand, electronic means or smartphones can be smoothly handled by the users. The generation that prefers paper-based modes will also start using electronic signatures in a very shorter period.

  • Reliable

Cryptography comes with a safer way of collecting data from one end. Among various others, Public Key Infrastructure can be fantastic standards in this regard. Talking about PKI, it encrypts the electronic contracts and other documents to ensure that these can only be viewed. Things can also be encrypted in a way to ensure that it remains available to the concerned authorized users.

  • For Small Businesses

Technology is constantly varying and the regulations are getting attuned as per it. Sometimes it may complicate, but not on most of the occasions. Most importantly, small businesses are also adopting it. They should contact local attorneys.

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.

Conclusion

The number of companies opting to handle their affairs through virtual modes is growing day by day. It helps them in handling bulk works with less manpower involvement. The cost factor also makes things suitable for them. The best recommendation would be to only keep the last stage of the work in paper form.

Electronic contracts help to shorten the lengthy processes that consume too many papers. With the advent of cloud-based contract management solution, the future is looking quite bright for electronic signatures. Not to mention, it is a simpler, secure, and much cost-effective option.

Making the task simpler, it can be divided into a couple of stages. The first segment would be to save the contracts, and the next stage is the signature phase. These two phases constitute the overall lifecycle of electronic signature. Both these phases will get simpler in the upcoming days. Ultimately, it would be a better idea for the older generation business groups to accustom to the modes of electronic signature for contracts.

Posted by Brian Felix, 0 comments
16
Sep
2019

The Ultimate Guide to E-Signature Security Checklist and Rules

Every modern business associates with one or the other form of electronic signature in its operations. The basic example of an electronic signature is an application asking for a PIN number or OTP for accessing specific services. With the increasing adoption of electronic signatures, e-signature security has become a highly important concern for every business in the present times.

The transaction of sensitive information using e-signatures can pose substantial threats. A number of experts have said that strengthening your security helps in avoiding unwanted expenses related to security issues. Therefore, every organization should follow the best practices to ensure a secure electronic signature.

Also Read: Common Threats to the E-Signed Documents

List of E-signature Security Rules

In order to avoid the e-signature security issues, it is important to understand the e-signature security checklists and rules properly. So, the following discussion would take a look at some of the important e-signature security rules. In addition, the discussion would also focus on a security checklist for electronic signatures. So, without any further delay, let’s get ahead.

Rule #1

The first rule for secure electronic signature is to comply with eIDAS, UETA and ESIGN definitions of electronic signature. If these precedents are not applicable, then the e-signature should comply with other national/local regulations. For example, you have the Information Technology Act in India. When you select an e-signature solution in the US, make sure that it complies with the requirements of UETA, ESIGN, and GPEA.

On the contrary, these precedents do not clearly demarcate legally defensible from legally admissible. Various e-signature solutions are admissible in court albeit failing to withstand comprehensive legal scrutiny. The promises of E-signature security tend to fade away in this aspect. An interesting fact, in this case, would be the fact that ESIGN and UETA came into existence in 2000 and 1999, respectively. Therefore, the laws made for electronic signature security primarily defined that electronic signatures cannot be denied legal admissibility.

However, in the present times, every organization uses ESIGN as a starting point for different e-signature requirements. Therefore, it is very important to measure the eligibility of e-signatures for additional requirements that make it legally defensible. Most important of all, you should ensure that high-risk transactions do not use e-signature technologies for low-risk transactions.

Rule #2

The second e-signature security rule refers to the use of the same e-signature technology for all signatures on a document. If this condition is not fulfilled, then successive signatures should not destroy the evidence about previous signatures. On the other hand, if a document needs signatures from multiple signatories, then the same signature technology should be used. As a result, the intent, information, and integrity of the signature tend to remain unharmed. This is one of the most important precedents for e-signature security.

Various e-signature technologies have unique processes for document preparation. The processes prepare the document for signing and also lock them in integrity. Passing a document through different e-signature technologies can result in loss of supporting legal evidence. The legal evidence is an embedded component in the document when the system prepares the document for the second signature. The best recommendation for secure e-signature is to adopt single e-signature technology for documents requiring multiple signatures. If that is not possible, then you should develop policies that prevent e-signature technologies from overwriting signatures.

The use of electronic signature brings so many benefits to your business. Here are the top reasons to adopt an electronic signature for your business.

Rule #3

The third rule in e-signature security implies capturing the intent to sign at each instance of the signature. A person having the intent to sign an electronic record should adopt an electronic form of signature. The intent specifies the approval for information in a document by the concerned individual. The intent capture should be done for each signature as well as at the time of each signature. The intent should form a part of granular evidence within the audit trail of the e-signature.

The intent to sign is a formidable legal element and evidence for electronic signature security. Therefore, the intent to sign should be captured and recorded with attention to two distinct aspects. The first aspect implies the features in the e-signature solution for capturing signatory’s intent at document review and signature. Another important factor is the storage of intent as granular evidence in the audit trail. The best practice implies a representation of intent in clear language and actions explaining the process of signing to the signatory.

In addition, the intent should also represent the desire to sign for the signing process. Representation of the intent to sign should also be included as granular evidence in the audit trail of the e-signature. Failing to produce the evidence can render the e-signature invalid.

Rule #4

Now, we move towards our next rule for e-signature security by taking a hint from the previous rule discussed above. Every signed document should have an audit trail that includes the intent to sign for each signature. In addition, the audit trail should include consistent, timestamped, and granular evidence as we might have learned till now. Every e-signature should track and record all the steps in the signature process so that users could track a document. Users could observe different states of a document in a particular transaction through the audit trail.

Furthermore, the audit trail also helps in presenting a strong claim in court. Therefore, it is essential to have a highly granular audit trail with information on each step regardless of its importance. The details can help you make sure that your document holds up in the court. An audit trail is essentially important for reducing the risk for highly regulated organizations where documents are maintained for long.

Rule #5

The fifth rule of e-signature security refers to attaching an electronic signature to the electronic record being signed. Also, every signature should follow the established standards. The independent verification of the signature should not depend on the electronic signature service or website for validation. Another important concern related to e-signature is that association and integrity are not related together. Therefore, secure e-signature solutions should always ensure integrity as well as association. A reliable e-signature solution should prove the integrity of an e-signature alongside proving the association of the signature with a document. Proprietary means are ideal for achieving association that follows international standards for electronic signatures.

Therefore, the best practice for e-signature security concerning this rule refers to legal consultation on certain aspects. The aspects include the format of the documents, proprietary nature of documents, human-readability of signatures, accessibility using free viewing software, etc. Also, it is important to verify that e-signature is an integral part of a document. The signature should also link with the document actively. Furthermore, you should also verify the association of each signature with international cryptographic and document standards.

Also Read: Top 10 Uses of Electronic Signatures

Rule #6

The sixth rule for security in electronic signature refers to multi-factor authentication. However, you can limit to two-factor authentications in this case. The two-factor authentication would involve an email password or an OTP and a mobile device for accessing the password. According to the level of risk, some forms and documents may need higher levels of authentication.

The risk determines the type of authentication required for verifying the signer’s identity. Therefore, the best practice implies to set up a strong precedent for authentication. As a result, any fluctuations are avoided easily. Two-factor authentication is the most recommended form of verifying signatory’s identity. Without a basic level of authentication, an organization faces the chances of improving risks and issues with evidence.

Rule #7

The final rule for e-signature security refers to an instrument for preserving the integrity of a signed record. The signed record should be portable, tamper-evident, granular and independently verifiable. In addition, the record should also qualify for verification in the long-term. Therefore, integrity is highly crucial in order to prevent any tampering with electronic documents. Organizations should define the application of integrity to an electronic document. A standards-based e-signature is ideal in such cases. The governance of e-signatures depends on international standards.

In addition, they also form the basis for secure web transactions (SSL). One of the important factors to keep in mind is to avoid vendor lock-in. Vendor lock-in involves the vendor possessing evidence about your document. The implications of lock-in are numerous and can include possible costs, risks of the vendor going out of business. In addition, you also have the risk of the vendor changing their methods after a few years. You should not compromise with these factors when it comes to high-risk transactions.

Furthermore, you could be at risk if the vendor does not have specific standards or they just provide password protection. Therefore, you have to focus on four core issues for ensuring the verification and integrity of signatures. The first aspect refers to portability or independent verification. The other aspects include tamper-evidence, long-term verification, and granularity.

People have a number of doubts about e-signatures that are spreading as myths. Let’s know these e-signature myths and facts behind them.

Checklist for Security in E-signature Solutions

Now, the most important concern in this discussion refers to the e-signature security checklist. The security checklist can act as a tool for verifying all the precedents of security for e-signature. You should always have the security checklist handy for determining the reliability of an e-signature solution. It also ensures that the integrity of the e-signature is always intact. So, let’s have a look at the e-signature security checklist.

  • User Authentication

The first aspect that is included in the checklist for e-signature security refers to user authentication. In this aspect, you should ensure the authentication of users before e-signing and integrate the authentication with the e-signature and record. The different factors that you should focus in this aspect refer to a solution for supporting multiple authentication methods.

In addition, the solution should have capabilities for configuring different authentication methods in the same transaction. The solution shall provide flexibility for adapting authentication methods to the risk profile of an organization alongside automation of each process. The solution should also give flexible alternatives for attributing in-person signatures such as SMS password and affidavits.

  • Audit Trail of the Signature

The next important factor in the e-signature security checklist is the audit trail. The audit trail provides additional security for an e-signature. E-signed documents that can have independent verification and archive have an additional layer of security. Vendor independence is possible only if the solutions can embed e-signatures, audit trail, and timestamp directly in the e-signed document.

Therefore, you need to have a self-contained, portable record that can act as evidence. In this case, you need to look out specifically for two factors. The first factor implies the abilities for independent verification of document authenticity. The second factor refers to the capability for indexing, storing and retrieving the e-signed document in the preferred system of record.

  • Securing the Document as well as a Signature

The aspect of document and signature security should also be one of the important agendas for e-signature security. The e-signature solution should ensure security at the signature level as well as the document level. The important aspects that you should look out for are highly important for safeguarding sensitive information. You should verify that each document and signature have security for e-signature.

Furthermore, you should have a comprehensive audit trail showing the date and time of each signature. The audit trail should also provide secure embedding in the document and proper link with each signature. You should also check for the facility of one-click signature and document verification. The ability for verification of signed record validity offline is also crucial in this aspect. Another important factor is that the document should remain accessible to all parties in the transaction. Most important of all, the solution should have the feature to download a verifiable copy of the signed record and audit trail.

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.

  • Audit Trail of the Signing Process and Compliance Programs

You should also note the audit trail of the signing process for checking the security of e-signatures. It makes sure that the audit trail contains the IP address, date, and timestamp of all events and others. The other factors include the length of time for reviewing each document and all the web pages, disclosures, and documents presented. In addition, the audit trail should also represent intent and other actions taken during the transaction. Finally, you should ensure that the e-signature vendor has appropriate compliance programs in place to deal with data breaches. The recommended compliance program is SOC2 while the other two are SSAE 16/SOC 1 and ISO 27001.

Bottom Line

In this discussion, we were able to learn the importance of rules for e-signature security. The most important part of the discussion was dealing with the rules only. The most crucial rule for the security of e-signature among all the e-signature rules primarily refers to the integrity and association. You should always ensure the facility of an audit trail to track the e-signing process.

Furthermore, the discussion also showed the importance of focusing on security for the e-signature as well as the document signed. Finally, the discussion moved towards a checklist after explaining the seven rules. The checklist helps in understanding the various factors that you should tick-off to get the best e-signature software.

Always remember that security is always the best policy so understand the e-signature security checklist and rules first before using electronic signatures for your business!

Posted by Brian Felix, 0 comments
07
Sep
2019

Top 10 Uses of Electronic Signatures for Small Business

There is no doubt that the manual and traditional process of signing a document can be a time taking and hassle for businesses. Just imagine, you have to contract which needs to be signed, and you found that the person is not available. Besides, the third party wants to peruse the document at leisure before signing. All these processes take a massive amount of time.

Another option that you can consider is to fax the papers and inform the client about the same. Then you have to wait for the party to sign it and send it back that to you. However, if the party is busy in some works, this can take a few days, even some weeks. It will affect your business. That’s why most of the companies are now using electronic signatures.

In detail, an electronic signature enables one to sign the documents electronically. It saves a lot of time and makes the process faster. Here, in this article, we will discuss the use of electronic signatures. But before that, it will be useful to have detailed knowledge about the electronic signature, their benefits, and electronic signature example. So, let’s get started with it.

What is an electronic signature?

In short, the electronic signatures are the digital form of a traditional or manual signature. It enables users to enjoy a seamless and secure signing transaction. Besides, it offers better user authentication.

The documents which are signed digitally are tamper-proof and more secure. The signatures are recognized under different laws in different countries such as UETA and ESIGN Act in the US, eIDAS regulation in the European Union, and Information Technology Act, 2000 in India. These acts and regulations make the usage of electronic signatures legal.

However, remember that the electronic signatures are different from the digital signatures. A digital signature is a cryptographic mechanism that is generally used to do electronic signatures. For a clear idea, you can check the electronic signature example available online.

By using electronic signatures, you can:

  • Save time: It’s time to stop chasing paper. Go digitally for a faster process. Within just a minute, you can now sign the document.
  • Keep control: You will get to know who signed the documents, and also about the time.
  • Stay mobile: No need to create cabinets in your office to store documents. You can now save your documents in the cloud and enjoy better access.

Talking about the primary objective of such a signature is to faster the process of document authentication with an identifiable mark. Even though they are not 100 percent secure, these signatures are used in different industries. You can use it in legal dealing, private affairs, business transaction and more. Now let’s have a look into some benefits of using electronic signatures.

The Benefits of Electronic Signatures

Before going deep into the use of electronic signatures, you need to understand some of the benefits of it. So, let’s have a look into this. Here are some notable ones:

1. It is intuitive and simple

One of the most significant benefits of using an electronic signature is that it is quite easy to use. You will find a lot of such online solutions. With an electronic signature software, you can easily upload your document, sign it, and send a highly secure link to the recipient. Then the recipient will sign the document, and the process will be over. Isn’t it quite easy! You can use the signatures by opening the link and with a few clicks. So, there is no need to waste your time doing manual signing.

2. Offers a maximum level of security

Some incidents prove that an electronic signature is entirely secure and safer than paper documents. It doesn’t just contain a signature; it also includes other information. For example, who signed the paper, the time and place of signing and more. You can keep track of the process. This is something not possible with traditional paper signatures.

3. Convenient

In this geographically extend the business world, a business deals with a lot of customers, partners, and suppliers. In such a case, if you go for manual signing and documentation, it can take a lot of time. But the electronic signatures facilitate remote authentication. Just a few clicks and you can sign the document. Forget about the printing and scanning of the documents.

4. Quick Turnaround

Another best thing about an electronic signature is that it offers a faster turnaround. Just think about the process of sending a document, print, sign, and scan the document. Then you need to send it to the third party. This process is very lengthy and takes time. But using electronic signatures, one can sign the document in just a few seconds. The use of electronic signatures in this modern business world opens up different opportunities. It works excellent in time-sensitive conditions.

5. Lower Cost

Electronic signatures are quite cost-effective than pen and paper signing method. The reason is that you will save money spent on paper, postage, and printing. All you need the best electronic signature software and working internet connection. Save your time as well as money and concentrate more on your business.

These are some of the significant benefits of electronic signatures as you have got a clear idea about E-signature and its benefits.

Top 10 Uses of Electronic Signatures

Now that you have been familiar with the basics of electronic signature and its benefits, it’s time to move into the critical section of this article. Let’s explore the uses of the electronic signature that has broadened its adoption over the world.

1. Sales Contracts

Almost all businesses are dealing with sales contracts. These are documents that are signed quite frequently. Besides, sales contracts are also crucial to the companies. Delay in signing such agreements can affect your business’s profit. You need to complete the process faster and in a secure way. This is where you can consider the use of electronic signatures. The sales contract can include business to business sales, residential business, real estate transactions, and more.

Business examples that come under this are real estate contracts, B2B sales, and service businesses.

2. Supplier and vendor agreements

A small-scale business often faces issues while negotiating with vendors. So, it is better to lock down the agreement, price, terms, and conditions as soon as possible. If you go for manual signing, you may face a delay in this process. By using electronic signatures, with just one click, you can obtain the sign and finalize the deal. It is quite easy to use and quicker than traditional methods. You don’t need to wait for the moment to sign a document, but you can do it when you want.

Some of the business examples that involve supplier and vendor agreements are consumer/business services and retail services.

Read: Top 10 Factors You Should Consider While Choosing an E-Signature Vendor

3. New customer forms

Do your customers want to fill out some forms or some other documents to carry out business with you? If yes, you can take advantage of the use of electronic signatures. There is no need to go for the lengthy process of printing the documents and get them signed. Besides, by using e-signatures, you can effectively prevent rekeying the data. It also leads to zero virtual errors.

The business examples that involve new customer forms are clinics, salons, spas and more.

4. Change in orders

Those who are running the project-focused business; for them, changes are quite common. However, you can face a surprise in the middle of the project, and your client may change the mind. They can increase or decrease their orders. During such a condition, you can face project holdups. The use of electronic signatures can significantly avoid holdups. You can approve the change in orders with the signatures quickly. Besides, you can easily maintain all your documents in the cloud and review them anytime you want.

Some common business examples which may get benefits of electronic signatures are construction business, architects, and web designers.

5. Customer approvals

Getting final approval before starting the manufacturing or production process is quite essential for the company dealing with custom-made products and services. When it comes to getting approvals, you can use electronic signatures to make it fast. It gives you enough time to focus on the order, instead of spending your time for obtaining the approvals. There is no need to visit the customers and get their signs on the approval documents.

Some common business examples that require customer approvals are custom furniture businesses, custom art businesses and print shops.

6. Employee onboarding

The process of hiring a new employee involves a lot of paperwork. For example, contract forms, enrolment benefits, automatic paycheck deposit, and more. If you sign all those documents manually, it can take a lot of time. However, you can save your time with the use of electronic signatures. Just click on the button, and you are done with the signature work.

Here the business examples that may require employee onboarding are the businesses with more than one employee.

7. Licensing of intellectual property and other legal agreements

As per law, the legal documents should contain valid signatures of the involved parties. Otherwise, the material will not be considered as accurate. So, here, you can consider the use of electronic signatures. The reason is most of the e-signatures are bound with rules and regulations, which are accepted by the court. They are perfect for signing legal documents. All you need is to make sure that the local authority approves the E-signature software.

Business examples in which licensing of intellectual property and other legal agreements is involved are technology companies, real estate companies, franchise businesses, and more.

8. Non-disclosure agreements

In general, the non-disclosure agreements offer you better security. Besides, it lets you conduct your business freely. When it comes to signing such an agreement, manual signing can lead to being inconvenient. Moreover, the manual sign is not safe, and one can use it for the different types of criminal activities. The most secure way to sign the non-disclosure agreement is the use of electronic signatures. With this, you can sign the documents through your mobile, and you can handle all the process with confidence.

Some business examples where the use of non-disclosure agreements is very common are outsourcing companies, investigation companies, and other private companies.

9. Distributor agreements

If you are doing business with distributors, dealers, and other such channels, then you can enjoy a better company with the use of electronic signatures. When there are lots of partners who are involved in getting signatures and managing the agreements, it can create a lot of confusion. But with e-signature, it is now quite easy to handle such a task. You can obtain signatures and manage the documents through the cloud services.

The primary business examples where distributor or dealer agreements are used includes wholesalers, distributors, and technology companies.

10. Parental consent and age verification

No matter what are your requirements, whether you want to verify your employee’s age or work with kids, you can use E-signature. Besides, you can integrate with their ID to simplify the process of verification.

Business examples where parental consent and age verification documents are required include kids’ school, school field trips and more.

Apart from this, we collect some other businesses which may use electronic signatures. These are:

Retail Sales

  • Signing the sales and purchase orders as well as invoices.
  • Licensing agreements signing.
  • Company and end-user agreements.

Human Resources

  • Employees hiring.
  • Acknowledgment statements.
  • The signing of timesheets.
  • Tax forms.

Legal Services

  • Signing the contracts of retention and fee.
  • Acknowledging confidential transactions.
  • Acknowledging documents of power of attorney.

Insurance

  • Verifying policy agreements.
  • Signing the documents related to claim to process.
  • Renewals of policy and service.

Finance

  • Taxation documents.
  • Accepting loan applications.
  • Disclosures.

In detail, the use of electronic signatures can help you in managing your business in a better way. This is quite easy and cost-effective. But always remember to choose the best e-signature software to enjoy maximum benefits and security.

Just imagine, a document’s management process where there is no need to do any print and fax. No need to remember the person who signed the documents. Remember that by understanding the use of electronic signatures, you can enjoy a world of fantastic opportunities.

Conclusion

Whether be a small-scale or large-scale business, to enjoy the maximum profits, you need to utilize every second. If you waste your time in dealing with document signatures and management, it can affect your business. So, to avoid all such conditions, you should always use electronic signatures when it comes to signing various business-related documents.

The above discussion has pointed out the benefits and uses of electronic signatures. Besides, you learned the uses of E-signature for small scale businesses. No matter what types of paperwork you are involved in, you can save your money and time through the use of electronic signatures.

So, adopt electronic signature now and get ready to witness a better business growth. Forget manual signing with electronic signatures!

Posted by Brian Felix, 0 comments
22
Aug
2019

10 Common Threats to Your E-Signed Documents

In this globalized world, almost everything is connected through the Internet. Well, this is a good thing as it creates a lot of opportunities for people. The modern technology has changed the way people used to work. For example, now one can work remotely for his/her clients living in another country. Isn’t it great?

Talking about one such development, that is online documents. This makes the business processes much easier and faster than before. The modern working practices involve signing such documents online. In general, e-signed documents enable people to create and sign a contract without any issue. It helps people by eliminating the lengthy offline documentation process.

Also Read: Top 10 Electronic Signature Myths and Facts

Top 10 threats to e-signed documents

Most of the businesses are now implementing e-signature following some benefits like cost-effective and better user experience. However, it also gives chances for cybercriminals, and now anyone can defraud you with this. There is no doubt that electronic signatures and e-signed documents are quite effective when it comes to maintaining integrity. But at the same time, there are some threats to e-signed documents.

It’s good to go for electronic signature, but while implementing, you should consider the security concerns for e-signed documents. If you have a better understanding of the threats associated with the e-signed documents, you can easily deal with them. Besides, your digital signature will stand up in different legal matters.

So, let’s get ahead and know about some common threats associated with e-signed documents that you should keep in your mind.

1. You all have signed the contract, but the court rejected it

You create a business contract with different parties, and they sign it digitally. But later you faced some disputes and took the case to court. However, now, the court rejects the contract. Why? Because the software that you have used for signing in is not compliant with rules and regulations of electronic signature laws. Ultimately, you lose the case.

So, if you are using any e-signature software, make sure that it is compliant with the electronic signature laws. For example, in the USA, the software should be compliant with UETA and ESIGN Act. In Europe, it needs to be compliant with the EU Directive 1999/93/EC. And in India, it must be compliant with the Information Technology Act. If you don’t find any supported legislation, then don’t use the software. Or else you may face a lot of security issues for e-signed documents.

There are different laws and acts in every country for the validation of electronic signatures. Also read about the Information Technology Act, 2000 - electronic signature law in India.

2. The contract has changed, and information is missing

Most of the reputed online signing software platforms are running hashing technology. In detail, it makes a hash of the content which builds a fingerprint of the material. It creates its DNA for the file. Generally, they use the hash forms while doing the signing. The reason behind this is if something alters, like changes the number, the hash will alter the number.

Not all the electronic signature software will let you know about the changes. Only professional electronic signature software can notify you about this through regular auditing. Besides, you need to make sure that the electronic signature vendor integrates all the major security precautions.

Check the level of encryption that the vendor offers when your documents are in cloud storage. Besides, use standard algorithms and signing process so that the sign can be verified through the different solution. Don’t use SHA1 or MD5 hashing algorithms as these are outdated. So, be careful about it.

3. The signatory is different

In general, when one signs a document online, then the signature employs the digital certificates. Talking more about a digital certificate, it represents a person or a company digitally. It has two parts, one is the private key, and another one is a public key.

The private key is generally used to encrypt the document’s hash. However, anyone can access the public key. Besides, it can provide all the details of the company or the person related to that particular certificate. But it is illegal to see other’s documents without any consent.

So, to prevent this, make sure your e-signed documents come with tamper-evident technology. Such technology can alert you when someone tries to access and alter your documents. Besides, set a PIN for your certificate. Only you can use the certificate with the PIN.

Don’t get confused between Digital Signatures and Electronic Signatures. Read our previous article on Digital Signature vs Electronic Signature, understand the difference between them.

4. The electronic signature is fake

Sometimes hackers can use the electronic signature for a false signature while signing a contract. You can be a victim of fraud if you are not using software which has features to make the process secure. Make sure that the electronic signature software offers features like security auditing, encryptions, digital certificates, and more. If all such things are missing in your software, then you can put the business at higher risk by signing a fraudulent contract.

5. The e-signed documents have been stolen

There is no doubt that modern technology makes working online a lot easier. With e-signing, you can sign a vital document online with just a few clicks. But this also brings different threats to e-signed documents.

One of such risks is the document stored on a server can be accessed easily. One can simply hack your document and change the entire content. So, always remember to encrypt your document to prevent hackers from accessing the documents.

6. An unknown person accesses the documents

One of the most important factors that you need to consider during the process is to make sure that the process involves the right person. Besides, it ensures that the e-signed documents can only be accessed by that particular person.

For this, you can employ user authentication process. For example, some e-signature vendors require that one should prove his/her identity by entering an SMS PIN or answering a personal question. This way, you can prevent others from accessing your electronically signed documents online.

There is something that you should always keep in your mind while using e-signature software. If the software works on proprietary technology, then you might not understand how the technology works. It may not also offer maximum protection to your e-signature. That’s why always use the software in which technology is governed by international standard. For example, a software certified by ISO- International Organization of Standardization (NIST).

Still thinking about the adoption of an electronic signature? Check out these top reasons to adopt electronic signature for your business.

7. Another person or the middle man stole the contract

One of the significant security issues for e-signed documents is MITM- Man in the Middle. This is a common online threat where a person takes the information which is present on the server. The rate of MITM attacks is now increasing. Moreover, OWASP - Open Web Application Security Project places such attack in the list of top 10 web-based attack threats.

Your online document can carry some of your sensitive or personal information. For example, pricing, identity, property details, and more. All such information can be stolen through a MITM attack. So, how you can prevent such threats?

For this, you need to make sure that the entire process of e-signing is secure. Make sure you are using an HTTPS connection. In detail, HTTPS-Hypertext Transfer Protocol Secure is a secure communication channel.

Besides, to prevent MITM or MITB - Man in the Browser issues, make sure that the service provider signs the digital document in its initial stage. The reason behind this is it will lock the integrity of the documents. Besides, you can make sure that the service providers send the document, and there is no middle person in this process.

This will assure the users that the digital document is genuine and safe to sign. Furthermore, always remember to save a copy of before and after signing a document on your system. So that if something wrong happens, you can use that as proof.

8. The image of e-signature is stolen

Almost all the e-signatures come with an image of the real signature or a mark that one generally uses. This is a major commodity as one can use it on a document, signing as the real owner of the signature. How to prevent such a threat? Don’t store your signature images or marks on a server. Hackers can easily steal your data from a server which is not properly secured.

An e-signature lets the users make a mark on the document to show their consent or approval. Well, in the paper world, it is quite difficult to copy the signature. But in the digital world, one can easily copy the signature or mark and paste it on another document. One can’t even find a single difference in that. In the court, the judge can’t comment just by looking at the image of the signature.

Some software can offer PKI-based e-signature. You will get a unique Digital Identity, known as X.509 Certificate after verification of the real identity. After that, you can use the certificate for e-signed documents. When you sign a document cryptographically, it locks your digital identity, and one can know who has signed the documents. Certificate Authority issues such certificates that is a trusted organization. So, get your unique Digital Identity now and enjoy a safe and secure online document signing process.

While working with electronic signatures, it is commendable to understand how electronic signature works. Here is a quick guide to the electronic signature workflow.

9. The signing software vulnerabilities

Most of the e-signing software can be infected by malware, including yours too. The reason behind this is the software you are using may contain some vulnerabilities. You might be thinking that what are these all about? Well, that means there are some bugs in your software. Then the malware enters into the software through the bugs. You can’t detect them as they will take over the software without any notice.

So, to avoid such a problem in your e-signed documents, choose an electronic signature software which gets updated regularly. Some dedicated and reputed platforms consider potential exploit seriously. Besides, they also release updates and patches every month to keep the software safe. However, don’t forget to keep your OS and browsers up-to-date with latest updates.

10. You don’t know what you are doing

This is one of the significant security concerns for e-signed documents. Some users can deny that they don’t know about anything. For example, users can say they didn’t know about that a button when clicked will sign the documents. Besides, they can say that they didn’t get a chance to go through the document. If you are an electronic signature vendor, to counter such things, you need to prove that the signing process is a willful act and involves the consent of the parties. You can employ the flowing features for the e-signed documents.

  • Give the users a legal notice to let them know about the legal consequences of the signature. The users can’t sign the document until they accept the legal notice.
  • To prevent people from claiming that they miss something important while signing the document, give them an initial for every paragraph.
  • Make sure the GUI indicates the approve option for e-signed documents. Besides, make sure that it is written in the user’s regional language. Furthermore, allow the users to cancel the process in the middle. For example, a Decline option, by clicking on which they can cancel the operation.

It’s not that due to the threats associated with electronic signatures, you shouldn’t use electronic signatures. Instead, you should consider these points while choosing an e-signature vendor.

Take as much as time you need and choose the right one

E-signing software is quite easy to use. Some can be easily integrated with your website. However, it is essential to know everything about the e-signed documents and their threats. As a user, one should audit the vendor’s e-signature technology. Then compare it with the security requirements. Remember that not all the e-signatures of e-signed documents will offer you the same protection features.

The untrusted vendor can offer hackers a lot of chances to attack as they don’t follow security measures carefully. So, always use trusted vendors as their cryptographic evidence is embedded directly into the document. Though there is no requirement for any third-party server as It dramatically reduces the entry points.

Choose wisely and streamline the workflow without worrying about any threats!

Posted by Brian Felix, 0 comments
06
Aug
2019

Points to Consider While Choosing an E-Signature Vendor

Change is the buzzword that is making the rounds in the present business environment. Nowadays, businesses are experiencing a great change with the adoption of electronic signature. Electronic signatures provide an efficient and cost-effective way to manage paperless signatures. The idea of using e-signature for your business requires an e-signature vendor.

With the popularity of e-signatures, a number of vendors are popping up in the market. But all these e-signature vendors are not equal, so it becomes important to evaluate them on some points. So, in this article, we’ll discuss the points that the businesses should consider while choosing an e-signature vendor.

Top 10 Points You Should Consider While Choosing an E-Signature Vendor

In a survey by Canon, almost 28% of small and medium businesses spend excessive time on paperwork for administrative purposes. Another study conducted by YouGov stated that small and medium businesses also lose almost £8.72 billion per year. It is due to spending around four hours and more on an average every week on the administrative paperwork. So, it’s high time that businesses should consider working smarter rather than working hard for hours.

This has been the notable reason why businesses are making the big leap towards selecting an appropriate e-signature vendor. However, this is where you shall be careful as you would be taking care of more than just ditching the pen and paper route for signatures. So, let’s get ahead and explore the factors that should be considered before choosing an e-signature solution.

1. Tamper Evidence Feature

The first aspect that you should emphasize while choosing an e-signature vendor is related to concerns of tampering or modifications in the document after a single signature. You can find certain e-signature service providers providing a tamper-evidence feature. This feature can help you to see any alterations that have been made in the document. The different service providers have unique approaches for providing tamper evidence. So, if you are quite specific about the security level with an e-signature vendor, it is appropriate to ask the approach followed by their tamper evidence technology.

You need to make sure that the tamper evidence is recorded right from the moment when a transaction is initiated. It would be recommended not to go for a solution that tracks tampering evidence when the signing process is terminated. To ensure legal certainty, it is essential that the e-signature service provider ensures tamper evidence recording after the initial signature rather than waiting for the completion of all the signatures.

The tamper evidence technology should be capable of showcasing any unwanted changes attempted in the document. Furthermore, you would be able to ensure that the first signatory has not tampered the document before sending the document to the second signatory. You can also find some modern e-signature solutions that have the facility of making a document tamper-proof with its creation. This way, the document cannot tamper once it has been completed.

To use e-signature effectively, it is important to understand electronic signature workflow. Here’s a comprehensive guide to e-signature workflow.

2. The Comprehensiveness of the Audit Trail

Another prominent factor that shall come into focus when choosing an e-signature vendor is the audit trail. The audit trail is a common feature that you would find with the services of an electronic signature vendor. This feature is responsible for tracking the actions of signatories and the documents in every transaction for creating evidence about the conduct of the entire transaction.

However, different e-signature platforms show considerable differences in the amount of detail recorded by them in the audit trail. So, it is recommended that you should look for e-signatures that are available with a detailed and comprehensive granular audit trail. A granular audit trail can help you gain access to evidence of each element involved in the signing process.

Any reliable e-signature vendor would ensure that you can have a detailed audit trail, thereby facilitating legal evidence for the signing process that can be used in court if needed be. The elements that you can find in a comprehensive audit trail include the date and time of document submission, consents of signatories, IP address of signatories, cancellations or opt-outs, issue of digital certificates and the time of signatures and initials.

3. Access to Evidence

The next factor that should be on your priority when selecting an e-signature vendor is whether you have to depend on the service provider to prove the legality of the signature. As we have observed above, tamper evidence technology and audit trails could help in validating a transaction if the need arises. However, you should make sure that you can access the information at any time.

So, you should look for an electronic signature solution that can help you verify signatures independently. This implies that the evidence of the digital signature should be embedded directly and permanently to the signed document. Look for an e-signature platform that utilizes published standards as well as public key infrastructure (PKI) for proving the validity and integrity of documents.

With the evidence, you could be able to access it anytime even after years. You would not find this facility in all electronic signature platforms, especially the ones bound by proprietary standards. This type of vendors requires visiting the solution provider’s website to obtain information about the signature. This can seem plausible for a moment. But you need to think of long term scenarios.

For example, what would happen if the vendor’s server goes down? What if the vendor has changed their technology after ten years and you need to access a signature for proving in court? In these situations, you can land up without access to evidence of the validity of your documents.

4. Compliance with Industry Standards

Talking about security aspects with an electronic signature vendor, it is essential to make sure that the vendor meets industry compliance. The most basic precedents for taking into consideration are ESIGN and UETA guidelines for e-signatures. In addition to these precedents, it is also essential for an e-signature vendor to comply with the regulatory standards followed in different industries.

The financial services industry requires compliance with the Standards and Procedures for Electronic Records and Signatures (SPeRS). The Securities industry requires compliance of an e-signature platform with the Electronic Securities Transaction Act. For the sector of annuities, it is essential to comply with the Insured Retirement Institute’s E-signature Standards for Straight through Processing. HIPAA regulations are found in the healthcare industry, whereas 21 CFR Part 11 is relevant for life sciences.

So, based on your industry type, you need to make sure that the e-signature solution of your choice complies with all the industry regulations.

5. Authentication Measures

Authentication factors should be the next priority when selecting an e-signature vendor. This is essential to make sure that your documents are not in the wrong hands at any point in time. Therefore, the e-signature platform should follow a minimum of two factors of authentication.

The most basic example of two-factor authentication is a combination of a password with an SMS text message on a mobile phone. The importance and sensitivity of the information in different documents and forms would vary considerably. So, you could face the need for higher levels of authentication. You would not want your e-signature vendor to leave your documents open to unauthorized access.

So, based on the level of risk involved with a document, you need to find whether the vendor provides multiple approaches for verification of identities of signatories. One of the methods is email-only authentication. In this, a user clicks on a link received through an email and is redirected to the transaction directly.

Knowledge-based authentication (KBA) is another simple yet proven measure for authenticating the identity of signatories. KBA would require the user to input their date of birth or the last three digits of their social security number followed by answering a set of multiple-choice questions. If the user answers all the questions correctly, then the user could access the transaction.

Certain vendors can implement shared questions for authentication in which a user has to answer certain personal questions that are known to the sender. Upon answering the questions correctly, the user could prove their authentication to access the transaction. Note that better authentication requirements would directly result in better defense of the e-signature.

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

6. Cloud Security

The majority of the concerns related to the selection of the right e-signature vendor are associated with the safety of the e-signed documents. You should know that e-signatures are SaaS solutions, and this implies the relation between e-signatures and the cloud. So, you should choose a vendor that can provide a formidable cloud infrastructure capable of safeguarding the confidentiality, availability, and integrity of your data.

Most important of all, you should try to find if the electronic signature solution provider has accomplished security certifications such as SOC2. In addition to a sturdy cloud infrastructure, security certifications indicate vendor’s highest standards for cloud security and data protection. By confirming this aspect with your vendor, you could stay away from complaints of unauthorized access.

7. Ease of Use of the Solution

The next crucial concern in selecting an e-signature vendor is usability. An easy to use e-signature platform can help drive positive outcomes in the adoption of the technology. You don’t want to deal with issues such as confusion about e-signing the documents or logging in with your credentials every time. Also, you would want to stay away from unnecessary nagging due to prompts for installing plug-ins, software, and apps. These concerns can dissuade the users, and they would most likely leave the e-signature process.

Therefore, it is advisable to go for a solution that can help in simplification of the e-signature process. It should make the e-signature process simple for customers as well as your internal stakeholders. You need to focus on certain questions such as the number of clicks a user has to make for signing a document, the method for sending documents for signature or the clicks or time take for creating an agreement. This would help you improve adoption of the e-signature technology alongside reducing the friction in contract acceptance processes.

8. Facility for Company Branding

As a business, you go before your customers with a unique identity. Your brand speaks of your identity and differentiates you from the competition. Therefore, you need to understand that the e-signature vendor of your choice should provide facilities for company branding. It is mandatory to look for a vendor that can help you customize document workflows with your company logo.

This would maintain your company’s identity among your clients and provide a consistent brand experience. When this experience combines with a hassle-free document viewing and signing experience, your business will mark a formidably positive impression on your clients.

9. Integration with Business Applications and Processes

Your business must be dependent on various business applications for the management of daily tasks. Therefore, you need to check the e-signature platform integration into the internal processes of your business. The e-signature technology should provide users with the flexibility to integrate the e-signature app into the existing business processes. Selecting an electronic signature software that can be integrated effectively with common business applications such as Microsoft Word, Google Drive, and Dropbox would give a promising boost to employee productivity.

Treat your electronic signature platform as an investment. Thus, aim to make the most of it by the facility of using them as per your convenience. You need to evaluate your common document workflows and find out approaches in which e-signature technology can be integrated with them. It is also recommended to evaluate the API of the e-signature solution alongside reviewing its other clients.

10. Try to Find Mobile-friendly Solutions

Being mobile is an inseparable part of the business environment today. Customers and internal stakeholders in every business are constantly dependent on their mobile devices such as smartphones for daily transactions. So, it is important to look for an e-signature vendor that can provide the facility of e-signing documents from a mobile device. The vendor should provide optimization of the signing process for all types of mobile devices and platforms. So, you should make sure that your customers can have a user-friendly experience in e-signing documents.

Also Read: Digital Signature vs Electronic Signature

Conclusion

On a concluding note, it can be stated that the aspects of security, legal validity, and usability should be the major factors to consider in selecting the right e-signature vendor. The discussion presented above has provided clear insights into the different points required to choose an electronic signature vendor. However, it is also important to look for the vendor’s association with your industry as well as their reputation in working with different clients in the past.

So, have a focus on the above factors while choosing an e-signature vendor and find the best one!

Posted by Brian Felix, 0 comments
16
Jul
2019

Top 10 Electronic Signature Myths and Facts

Technological advancements have been the cornerstones of progress for human civilization. Over the years, we have witnessed the transformation of many essential activities and processes to the technological front. Electronic signature is one of such technological innovations. The applications of electronic signatures are widely observed in various fields, and it surely presents a reliable approach to reduce the piles of official documents in paper.

On the other hand, many electronic signature myths are making ground everywhere. These myths are primarily developed as a result of misunderstanding and lack of detailed insights into the definition and working of electronic signatures. It is important to understand the hidden electronic signature facts behind these myths.

So, this article would aim at outlining some of the notable e-signature myths to obtain a clear impression of the wrong and the right with e-signatures. In addition to this, the discussion would also focus on the facts about electronic signatures to understand them better.

Before we move towards exploring some of the electronic signature myths and facts, it is justified to have a basic idea of what electronic signature is and how it works!

What is E-signature and how does It Work?

The electronic signature can be defined as a digital version of the physical signature of an individual. It can be used for signing digital documents in different ways. Users can capture their signature on a document or use a click of a mouse button to sign digital documents.

Voice-based acceptance could also be considered as one of the ways to sign a digital document. Electronic signatures first came into existence with the passing of the Federal ESIGN Act, in 2000. There are various types of documents which could be signed electronically, such as policy adherence documents, non-disclosure agreements, executive meeting minutes, business contracts, and terms of service contracts.

Must Read: An Overview of UETA and ESIGN Act

Just like any other new technological innovation, electronic signatures also have found wide-ranging acceptance from different business owners. However, many others are still skeptical about the use of electronic signatures. So, it is essential to show a clear difference between the myths and facts associated with electronic signatures.

Let’s Go Through Most Common Electronic Signature Myths and Facts

Myth 1: E-signatures are not acceptable in court

Fact: The first and one of the most commonly noted electronic signature myths is that they are not legally binding. On the contrary, this is not true as electronic signatures have been considered legal, according to rulings, in most of the cases. All you have to do is prove consent and intent, like in the case of paper signatures to make it legally appropriate. Even if electronic signatures have been responsible for putting paper to rest for signing agreements, they have not left out legality.

It is clearly stated in the Electronic Signatures in Global, and National Commerce (ESIGN) Act that a document or a contract cannot be considered null in terms of validity, enforceability or legal effect in its electronic form. One of the notable electronic signature facts clearly shows that a valid electronic signature would be associated with a record of the time, date, and IP address of the signatories. So, the myth that electronic signatures don’t stand up in court can be put to rest now!

Myth 2: E-signatures are not secure.

Fact: Another one of the common electronic signature myths is that they are not secure, which is completely not true. In the case of electronic signatures, all the legal documents are secured with encryption, and all electronically signed documents are immediately covered into PDF files for additional security. All types of legal documents could be stored online for any duration of time that you want.

Most important of all, the audit trail or details of the time of a signature, time of opening a document, and the IP addresses of the signatories provide an excellent tool to verify the security of your electronic signatures. In addition to that, the majority of electronic signature software have firewalls and other advanced settings and protocols for protection against attempted breaches and other online threats.

Myth 3: E-signatures are difficult to adopt.

Fact: You would also find one of the electronic signature myths regarding the difficulty in the adoption of electronic signatures. Yes, users could indeed require some time, and experience many difficulties in adopting new technology. However, it doesn’t happen in the case of electronic signatures. Electronic signatures could be integrated very easily and that too in very little time! With the paper-based route, you would be spending a lot of time in printing, mailing, and signing.

On the other hand, you have to use the existing templates provided by the electronic signature software and change them if you want according to your needs. Then, just point out the areas which have to be signed and share the documents through email. This way, you not only save time but also make signing documents a much simpler task alongside considerable improvement in business productivity. Now the electronic signature technology seems quite easy to adopt, doesn’t it?

If you still think it is difficult to understand how electronic signature works, check out our previous blog on electronic signature workflow and get to know how easy it is!

Myth 4: You have to spend a lot on e-signatures.

Fact: Electronic signatures are expensive! That is also one of the electronic signature myths you need to pay attention to. You can save a considerable amount of money through electronic signatures. Think of loads of labor hours spent in converting contracts to different formats for emailing. You don’t have to deal with that anymore when you have electronic signatures. Most important of all, you would also be reducing costs associated with running a paper-based office.

With the use of electronic signatures, your office would not be dependent on purchasing paper, maintaining scanners, and printers or storage for signed documents. Moreover, you don’t have to pay any more for postage and courier costs. Even though all these factors are realized quickly, the myth surrounding expensiveness of electronic signatures emerges from the initial high costs.

However, there is no reason to worry as electronic signatures can foster process innovation, thereby leading to better returns on investment quickly. In addition to that, evolving technological advancements related to electronic signatures have resulted in their availability at affordable prices.

Furthermore, you don’t have to worry about storage of documents as you have cloud-based storage options with electronic signature software to keep away the massive file cabinets! With these functionalities of e-signatures, it is proven that they are highly favorable and cost-effective solutions as compared to paper.

Myth 5: You need special technical skills for using electronic signatures.

Fact: The requirement of specialized technical expertise is another one of the widely spread electronic signature myths in the present times. On the contrary, one does not have to be a technical genius for using electronic signatures. A basic understanding of electronic signatures can be sufficient to use them effectively.

Also, the e-signature solutions have made it easy to adopt and use an electronic signature. Easy steps, comprehensive guide, and quick support provided by the electronic signature vendors have removed the hassle associated with this new technology. So, even if you are not a technical person, you can easily use an electronic signature without any special technical skills.

Various companies which have adopted e-signatures have stated that employees find e-signatures easy to use and the companies were able to adopt the technology quickly. Therefore, this myth can also be debunked just like the other electronic signature myths which point towards the difficulty in the adoption of e-signatures.

Myth 6: Electronic signatures are just a trend.

Fact: Whenever a new technology comes, it comes with a boom and after some time, the boom is over. The same most of the people think about the electronic signature that it’s just a trend. It is one of the e-signature myths that has made its space in the mind of most of the people. It is important to know the fact behind this myth to know the truth.

The electronic signature is not just a trend, but it is present and future. More than 60 countries have introduced a specific set of laws and standards for validating e-signatures. It’s not because it’s a trend but it’s the innovation in the business world.

More than 60 countries have introduced a specific set of laws and standards for validating e-signatures. A large amount of data is generated every day by businesses, organizations, and individuals. To deal with the challenge of getting a huge number of documents signed everyday, electronic signatures are quick and efficient solutions.

The businesses in different industries have been readily adopting electronic signature which was previously relying on the paperwork. So, the electronic signature fact is that electronic signatures are more than just a trend, they are the future.

Myth 7: All documents can be signed electronically.

Fact: One of the noticeable e-signature myths is that if used, an electronic signature can be used for any kind of documents. But the e-signature fact here refers to the type of documents that are not considered valid with an electronic signature. The documents could be outlined as follows:

  • Product recall notices.
  • Notices for cancellation or termination of utility services.
  • Court orders, notices, and related documents.
  • Codicils, wills, and testamentary trusts.
  • Family law documents such as divorce or adoption papers.
  • Legal documentation for transportation of hazardous materials.
  • Notices for cancellation or termination of life insurance or health insurance benefits.
  • Default notices and notices for eviction, foreclosure, or repossession.

So, it is important to know, though electronic signature can be used for different types of documents, there are many documents for which electronic signature cannot be used.

Myth 8: You need a certificate to use electronic signatures.

Fact: Electronic signatures and Digital signatures are two similar terms but both are different. Sometimes, people may get confused between digital signatures and electronic signatures. So, it becomes important to understand the difference between the two i.e. Digital signature vs Electronic signature.

These are digital signatures which require a digital certificate for authorizing the encryption needed. Certificate Authority (CA) is responsible for issuing digital certificates. Generally, large businesses develop their in-house CA while smaller businesses and individuals tend to turn towards a CA provider to obtain digital certificates. Many digital certificate vendors provide various customized solutions for their electronic signature needs that may be availed either through a transaction-based or subscription-based payment model.

So, in order to get over a few e-signature myths, it is important to understand the difference between digital signature and electronic signature.

Myth 9: The choice of e-signature solution does not matter.

Fact: This is one of the electronic signature myths which is primarily based on the premise that every e-signature solution in the market can be suitable for all organizations. There is no surety that you can choose one e-signature solution for on-premise deployment and another one can be utilized as a SaaS (Software-as-a-Service) scaling according to the needs of your business.

Also, the selected vendor should be capable of using innovative technology in combination with comprehensive industry knowledge for better awareness of your common use cases. This can help ease the adoption process and provide better opportunities for success with e-signatures.

Finally, the ease of use is also dependent considerably on the e-signature solution provider. So, you have to make sure that the electronic signature vendor could be able to provide the flexibility of e-signing irrespective of the place or device. Most important of all, the solution should provide a customizable graphical user interface as well as the flexible workflow that can be tailored to various channels and processes.

Myth 10: Multiple electronic signatures cannot be managed.

Fact: This is one of the common e-signature myths spread among the newbies that it is not possible to manage multiple electronic signatures on a contract. On the contrary, electronic signature provides the facility of signing multiple pages of a contract by different signatories. Contemporary e-signature solution providers offer the facility of sharing one document across multiple signatories along with the account holder for the document.

While some solutions would imply that you can limit the sharing of the document up to a certain number of signatories. However, if you need multiple signatories exceeding the particular number on a concerned legal document, then the document can be re-imported and shared among other signatories.

Use of electronic signature can bring several benefits to you. If you have any doubt regarding the use of electronic signature, read out these 10 reasons to adopt e-signature for your business.

Closing Notes

Now we have obtained clear insights into the different electronic signature myths and facts, it would be reasonable to focus on making the initiative! E-signatures not only help in cost savings but also introduced process innovation for businesses to improve productivity.

Even though many electronic signature facts show the benefits possessed by them, people and businesses continue to doubt their functionality. However, attempts to clarify the misconceptions about e-signatures and large scale adoption could pave the path for a future in which paper is no longer needed for business documentation.

Surely seems like a path towards a greener and better future, doesn’t it? Share your thoughts in the comment section below on it. If you have any doubt in your mind regarding the use of electronic signature, just mention it below and we’ll guide you through all the way.

Posted by Brian Felix, 0 comments