E signature technology provides electronic signatures that are legal and similar to pen-and-ink signatures. It can be used by companies to automate their signature processes for documents and improve efficiency.
The authenticated digital signatures are the cryptographic evidence of a document’s authenticity. They prove that it was signed by the entity mentioned and that it has not been altered. You can verify them by comparing the public key of the signer to the digital certificate of the document. Certain eSignature software solutions utilize passwords, codes, or PINs to verify the identity of the signer. Others, like DocuSign, use keys that are public and private in order to create an authentication process.
While e-signature technologies aren’t foolproof however, they provide significant security benefits that could assist businesses in meeting regulatory requirements. It is especially useful to utilize an eSignature solution that records the context of the history of a document in order to create a document with value and that can be legally enforced. This information can include an electronic record of the person who verified the authenticity of the signature or trust pathways between the signers.
Implementing e-signature technology can help companies save money by removing the requirement for postage and paper. However, companies must be prepared for the common resistance of team members who are reluctant to adopt new technology. Leaders need to be prepared to advocate for and educate colleagues on the benefits of electronic signature technology to ensure its adoption. Once employees are convinced it is simple to switch to a more efficient way of conducting business.