Electronic signatures are used to provide a layer of legal binding and trusted verification to important documents, like contracts and agreements. Through automation of business processes, electronic signatures help reduce turnaround time, while reducing costs and improving efficiency. They also assist organizations in meeting state, federal and industry-specific compliance requirements.
There are many types of e-signature technology. However the most secure are digital signatures based on certificates which meet the high standards set by various industries and countries that are heavily regulated. These e-signature options use public key Infrastructure (PKI) to create a signature certificate that is linked to the signer’s electronic ID. This link authenticates the signature and makes sure that only the signer has access to the private key used to verify the signature.
E-signatures can provide several advantages, not just the security they offer. They are a step above other, less basic options. They include audit trails, encryption, and other security features for backends that ensure authenticity. They may also incorporate pen-like strokes and inks for a more familiar look.
E signatures are not only a great way to speed up workflows, they also eliminate the necessity for paper. They can also be utilized by teams to increase their efficiency and delight staff, customers, and other stakeholders through seamless, paper-free experiences. For instance, some electronic signature solutions have bulk signing capabilities that let senior employees quickly and easily sign standard contracts with just a few clicks instead signing them in a separate manner.