E signature technology can provide electronic signatures that are legal and similar to pen-and-ink signatures. It is used by companies to automate their process of signing documents and improve efficiency.
Digital signatures that are authenticated provide the cryptographic evidence of a document’s authenticity. They verify that the document was signed by the individual who identified and that it’s not been altered. You can verify their authenticity by checking the public key of the signer with the digital certificate of the document. Some eSignature solutions use codes, PINs or passwords to verify the identity. Other solutions, like DocuSign’s, rely on private or public keys to create an authentication process.
While e-signature solutions aren’t completely foolproof however, they provide significant security benefits that could help businesses meet regulatory requirements. Utilizing an e-signature system that offers contextual records of the document’s past can be especially helpful to create a record that is useful and legally enforceable. This can include an account of who verified the authenticity of a signature or the trust path of the signature.
Alongside enhancing efficiency using e-signature technology, it can also help companies reduce costs by removing postage and paper costs. However, companies must be prepared for the typical resistance of team members to embrace new technology. Leaders need to be prepared to inform and advocate for colleagues about the benefits of eSignature technology in order to ensure the adoption. Once employees are convinced, it is easy to switch to a more efficient method of conducting business.