E signature technology is a method that offers legal, electronic equivalents to signatures made with ink and pen. Businesses can use it to automatize document signing processes and improve efficiency.
Authenticated digital signatures offer proof in cryptographic form that a document is signed by the stated entity and hasn’t changed. They can be verified by checking the signature’s public key to the digital certificate of the document. Some eSignature solutions use passwords, codes, or PINs to confirm the identity. Others, like DocuSign utilize keys that are both public and private to create an authentication process.
Although e-signature technology isn’t foolproof it can provide significant security benefits which help businesses comply with the requirements of regulatory agencies. It is particularly beneficial to use an eSignature system that can provide contextual records of the history of a document to create a document with worth and that can be legally enforced. This can include a record of who has verified the authenticity or trust route of a signature.
In addition to improving efficiency, implementing e-signature technology can also help companies cut costs by removing postage and paper costs. However, companies must be prepared for the normal reluctance of team members who are reluctant to adopt the latest technology. Leaders should be prepared to promote and educate colleagues on the benefits of electronic signature technology to make sure that the technology is adopted. Once employees are on board it’s simple to make the shift to a more efficient method to run your business.