Electronic signatures are used to add a layer of legally binding and trustworthy authentication to important documents like contracts and agreements. Through automation of business processes, electronic signatures speed up the turnaround time, while making money and increasing efficiency. They also assist companies in meeting requirements of federal, state and industry compliance requirements.
There are many different kinds of e-signature technologies, but the most secure choices are certificate-based digital signatures that meet the strict standards of many heavily regulated industries and countries. These e-signature solutions use public key Infrastructure (PKI) in order to create a signature certificate that is linked to the signer’s electronic ID. This link authenticates the signature, ensuring that only the signatory has access to the private key which validates the signature.
Aside from the added security, these types of electronic signatures also offer several other advantages that help them stand apart from other alternatives that are more basic. They include audit trails, encryption and other security features in the backend that help to ensure authenticity. They can also include pen and ink strokes to give a more familiar appearance.
Apart from speeding workflows and eliminating the requirement for paper, e signatures can also be used to improve the efficiency of teams and delight customers, employees and other stakeholders by providing seamless and paper-free experiences that are easy to use on any device. Some e signature solutions include, for instance, bulk signing, which allows senior employees to sign conventional contracts in only a couple of seconds using a few clicks.