E signature technology allows electronic signatures that are legal and comparable to pen-and-ink signatures. Companies can make use of it to automate the process of signing documents and increase efficiency.
Authenticated digital signings provide the cryptographic evidence of a document’s authenticity. They show that it was signed by the entity identified and that it’s not been altered. You can confirm their authenticity by using the public key of the signer and the digital certificate of the document. Certain eSignature services use codes, PINs or passwords to confirm the identity. Other solutions, like DocuSign use keys that are public and private to establish an authentication process.
Although eSignature technology isn’t completely foolproof, it offers significant security benefits which help businesses comply with regulatory requirements. It is particularly beneficial to use an eSignature system which provides context-based records of the history of documents to create a document with value and that can be legally enforced. This can include a record of who has verified the authenticity or trust path of the signature.
Implementing e-signature solutions can help companies save money by removing the requirement for postage and paper. A company must prepare for the typical reluctance of employees to adopt new technology. Leaders must be prepared to educate and convince colleagues of the benefits of eSignature technology to ensure that the technology is adopted. Once employees are onboard it is simple to change to a more efficient method of conducting business.