E signature technology is a tool that offers legal, electronic versions of pen and ink signatures. It can be used by companies to automatize their document signing processes and increase efficiency.
Authenticated digital signatures are cryptographic proof that a document is signed by the aforementioned entity and hasn’t changed. You can confirm their authenticity by comparing the public key of the signer to the digital certificate of the document. Certain eSignature services use passwords, codes, or PINs to verify the identity. Others, including DocuSign utilize keys that are public and private to establish an authentication process.
While eSignature technology isn’t perfect, they offer significant security benefits that aid businesses in meeting the requirements of regulatory agencies. Using an esignature solution which provides context-based documents of the document’s history can be particularly helpful to create a record that is useful and legally enforceable. This can include an electronic record of who verified the authenticity of a signature as well as the trust paths between signers.
Implementing e-signature technology can help companies save money by removing the need for postage and paper. A business must be prepared for the normal reluctance from team members to adopt new technology. Leaders must be prepared to educate and advocate for colleagues about the benefits of eSignature technology in order to ensure that the technology is adopted. Once employees are on board, it is easy to switch to a more efficient manner of doing business.
