What is an electronic signature?
An electronic signature, also known as an e-signature, refers to the approval or validation of a document that is presented in an electronic form. These signatures exists as an indication that the individual will accept the contents received in the form of electronic message. As such, electronic signatures are electronic symbols used by a person who intends to validate the or approve a contact, a record, or a document.
How are they being used today?
Every day, in different parts of the world, people and businesses are foregoing the clutter of paperwork and are signing important and confidential records online with the help of electronic signature software such as the Signority. Signority’s electronic signature technology, in our opinion, acts as the global standard for electronic signatures. Using this software will create efficiency in transactions for business people which speeds up results and minimizes costs. Useful features such as progress tracking and storing documents in the cloud are also huge benefits to customers and users.
Benefits of using electronic signatures in both private and public platforms far outweigh anything a handwritten signature can offer. A large number of businesses and government institutions that operate on the web have increased their reliance on the electronic signatures for the safety and security of their confidential information. These signatures act as a method for authenticating digital information using passwords and protected keys, or with advanced patent-protected security options such as Cloud PKI from Signority. Authentication ensures that the sender or the owner of the contract or the document is actually himself or herself.
Efficiency and legal issues
The consideration of legal issues is important because there is varying legislation that regulates the usage of electronic signatures. These laws vary from place to place. (Read about e-signature legality in the USA and Canada) As such, prior to purchasing electronic signature software, a person should ensure that the software is recognized in his or her area of jurisdiction. Moreover, one should search for software that is secure from fraud and that can detect fraudulent signatures or persons. Good electronic signature software should create electronic signatures that are legally binding in your country and in the countries you choose to do business in.
With most new software you need to be certain that it will be compatible with all other applications that you regularly use. This is less of an issue with electronic signature software as it operates from the cloud and so is less dependent on your computer and operating system.
Effective electronic signature software should be sophisticated enough to carry out the tasks you need to complete and yet simple enough to operate and manage without hours of training. As such, the selection of software that is simple to use will save both time and money.
Electronic signatures have an added advantage over the handwritten signatures in that they maintain integrity of the signed documents or contract. The signatories cannot revoke, alter, or deny that they did not sign the document. The electronically-signed documents are more secure than handwritten signatures because they cannot be altered during or after the signing event.
The use of electronic signatures has created efficiency for companies in different sectors including the insurance, financial, real estate, and the consumer-service sectors. After gaining legal acceptance, e-signatures have led to the growth of business-to-business operations where many companies conduct their business transactions online. Such companies exchange documents within minutes and meet deadlines easily, which saves money and time.
Many people prefer using HelloSign for their electronic signatures because it is hassle-free and highly secure. HelloSign is easy to use for both the person sending and the person receiving the contact/document because it supports all types of signing scenarios and workflows.