E signature technology allows electronic signatures that are legal and similar to pen-and-ink signatures. Companies can make use of it to automatize document signing processes and improve efficiency.
Digital signatures that authenticate digitally offer proof in cryptographic form that a document has been signed by the entity that it was issued by and hasn’t changed. You can verify their authenticity by looking up the public key used by the signer to the digital certificate of the document. Some eSignature applications use codes, PINs or passwords to verify the identity. Others, like DocuSign use keys that are public and private to create an authentication process.
While e-signature technology can’t be guaranteed, it has significant security advantages that help businesses to comply with regulatory requirements. Using an esignature solution that offers contextual records of the document’s past can be particularly helpful in creating a record that is useful and legally binding. This can include the details of who has verified the authenticity or trust route of a signature.
In addition to improving efficiency E-signature technology can also help companies cut costs by removing postage and paper expenses. A company must prepare for the typical reluctance of team members to embrace new technology. Leaders should be prepared to educate and convince colleagues of the benefits of eSignature technology in order to ensure that the technology is adopted. Once employees are on board it’s easy to make the shift to a more efficient method of conducting business.