E signature technology offers electronic signatures that are legal and comparable to pen-and-ink signatures. It is used by companies to automatize their signature processes for documents and improve efficiency.
Digital signatures that authenticate digitally are cryptographic proof that a document is 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 and the digital certificate of the document. Some e-signature solutions use PINs, passwords or codes to confirm the identity of a signer. Other solutions, like DocuSign’s, utilize private and/or public keys to create an authentication process.
Although e-signature technology isn’t foolproof it has significant security advantages which can help businesses comply with the requirements of regulatory agencies. It is especially useful to use an eSignature service that provides contextual records of the history of a document in order to create a document with value and which can be legally enforced. This can include the details of who has verified the authenticity or trust path of the signature.
In addition to improving efficiency Implementing e-signature technology can also help companies cut costs by removing paper and postage expenses. However, a company must be prepared for the normal reluctance of team members to adopt the latest technology. Leaders must be ready to advocate for and train colleagues on the benefits of electronic signature technology to ensure adoption. Once employees are on board it’s simple to switch to a more efficient way to conduct business.