E signature technology is a method that offers legal, electronic equivalents of pen and ink signatures. It is used by companies to automatize their signature processes for documents and improve efficiency.
Digital signatures that are authenticated provide cryptographic proof that a document was signed by the stated entity and hasn’t changed. They can be verified by verifying the signature’s public keys to the digital certificate of the document. Some e-signature software solutions utilize PINs, passwords or codes to verify the identity of the signer. Other solutions, like DocuSign’s use private and/or public keys to create an authentication method.
Although eSignature technology isn’t completely foolproof, it has significant security advantages that help businesses to comply with the requirements of regulatory agencies. It is especially useful to use an eSignature system that can provide contextual records of the history of a document to create a record that has value and that can be legally enforced. This information can include an electronic record of who verified the authenticity of a signature as well as the trust path between the signers.
Alongside enhancing efficiency using e-signature technology, it can also help companies reduce costs by eliminating postage and paper expenses. However, a company must be prepared for the usual reluctance of team members to embrace the latest technology. Leaders need to be prepared to educate and advocate for colleagues about the benefits of eSignature technology to ensure that the technology is adopted. Once employees are on board it’s simple to change to a more efficient method to conduct business.