8 Things You Need to Know Before Using Electronic Signature

Are you considering using an electronic signature for your business?

Are you going to use an electronic signature to authenticate documents, or is your client looking for electronic signatures on a contract you're working on together? 

In either case, it's critical to understand a few key points about electronic signatures before incorporating them into your company's operations.

What is an Electronic Signature?

An electronic signature is a type of digital signature that you can use to sign documents electronically. This type of signature is created and stored in a computer, tablet or other device.

Electronic signatures are legally binding in most countries, so it’s important to be aware of the specific rules and regulations for your country before you sign anything with an electronic signature.

How do Electronic Signatures Work?

An electronic signature is a unique digital identifier that's paired with another form of identification. It can be used to authenticate an individual's identity and it can also be used to validate documents.

Electronic signatures are legal in most cases, but they're not the same as a regular signature. You can read more about the legality of using electronic signatures here.

8 Points to Consider Before Using Electronic Signatures - 

1. Learn; How to Create eSign

Now that you know how to create an electronic signature to PDF and Word documents, let's look at how to do it.

PDF - We can open and read PDF files with Adobe Acrobat Reader, but did you know it also comes with a set of tools that allows the user to add an e-signature? Yes! Adobe Acrobat Reader makes signature fields easier to use and gives you three options for e-signing a PDF.

Word - Microsoft Word is the platform of choice for most people when it comes to creating contracts, documents, and sales proposals. Unfortunately, Word isn't the best option for signing documents online.

To sign the word document, scan your handwritten signature and save it in the following formats:.bmp,.gif,.png,.jpg. This scanned handwritten sign file can be inserted and resized to fit wherever you need it.

The PDF & Word method, on the other hand, is only suitable for a novice user. You should use software like WeSignature for business, legal, HR-related, and other confidential documents.

2. Electronic Signatures are able to Speed Up the Document Signing Process

Electronic signatures are much faster than wet signatures when it comes to signing digital documents. Everything must be done manually because wet signatures can only be used on physical documents. You must first print the document before you can sign it.

You must submit the document to the parties involved if it requires multiple signatures. If all parties are employed by the same company, it may not be a problem. 

But what if they're all in different parts of the country or city? 

You'll have to physically expedite the documents sooner or later. This entire procedure takes a significant amount of time, money, and effort.

3. Eliminate Paperwork

Creating an online signatures have a number of advantages, including the elimination of paperwork. 

To track and monitor the process using traditional methods, you must create a paper trail. 

Everything would be available online with electronic signatures. 

This cuts down on the time and effort required to sign or approve a document.

4. Third Party Certification Cost

Readers may be wondering why they should pay for digital certificates if they aren't valid proof of signature. When electronic signatures are active, they actually have legal validity. 

The digital certificates expire after a user stops using the electronic signature service.

Users may be in trouble if they are required to produce a valid digital certificate for a document in such cases. 

The majority of e-signature solutions on the market, on the other hand, charge users for non-renewal or inactivity periods. As a result, you can use the digital certificate to prove that your electronic signature is legitimate.

5. Electronic Signature and Covid-19

COVID19 has become a critical event for multinational corporations. For all businesses, working from home has become the only option. 

Everyone chose digital methods to run their businesses in order to ensure that their processes find a way out of this difficult situation, whether it's doing business online or using electronic or digital signatures to complete paperwork.

If you haven't already done so, you should do so right away if you want to keep your business running smoothly.

Quick Stats:-

• Even after the pandemic, nearly 71 percent of people claimed to prefer working from home, according to data collected by the PEW research center.
• When using e-Signature, there are typically 80 percent reductions in turnaround time.
• According to the Electronic Signature & Records Association, businesses have seen an 83 percent increase in approval rates and an 86 percent reduction in document costs.
• After eliminating manual operations and implementing digital technologies such as WeSignature solutions, businesses can achieve 70 percent to 80 percent efficiency gains.

6. Checking for Tampering

Tampering is a common concern when using electronic signatures that is often overlooked. 

Many customers of e-signature solutions don't inquire about document tampering, such as signature forgery.

As a result, it is critical to request due diligence from the e-signature solution provider. Even if it costs a little more money, it's worth it to protect your sensitive business documents. 

Anticipating challenges is a tried and true method of dealing with them!

7. Verifying the Identity of the Sender

E-signature solutions with additional measures for user verification and validation should be preferred by users. 

Any solution that allows users to sign in without first creating an account should be avoided. 

Before creating an account, trustworthy e-signature platforms verify the identity of users. 

As a result, you should never put your security at risk when using e-signature solutions.

8. Delay in the Verification of E-Signatures

In most cases, legal issues with a transaction arise years later, and you must produce proof of the e-signature. Users, on the other hand, do not need to be concerned about the legal enforce ability of e-signatures as long as they can produce the transaction's digital certificate. 

Access to the free version of e-signature solutions can also help with an explanation of the electronic signature verification and validation process.

Ready to Explore  Electronic Signature?

WeSignature is one of the leading vendors that provide electronic signatures.

You can consider them when looking for reliable and trustworthy electronic signature software.