Digital Signature Software

E-Signature Software Overview

Recordkeeping is essential in maintaining permanent access to all important documents within a business, and it's much easier to accomplish this daunting task electronically. The purpose of collecting digital signatures is to share and sign documents without the inconvenience of organizing a meeting or keeping physical paper copies of every transaction. Sensitive documents that require a signature are encrypted so that they can be transmitted securely. This means clients, partners, employees, and organizations are adequately protected when dealing with employment paperwork, sales contracts, and any other agreement between parties.

Digital signature software is often integrated with other business applications, such as HR management tools, enterprise resource planning systems, and customer relationship management software. It's intended to help business owners, managers, and other professionals simplify the daily processes of collecting signatures and keeping important documents. All e-signature software is required to meet legal requirements of document exchange, and the build-in security measures guarantee legal and legitimate processes.

The Basics of Digital Signature Software

Convenience is one of the most basic and attractive benefits of using e-signature software when sending and receiving signatures. Contracts and other important documents are created easily, often using templates that comply with state and local regulations. They are sent, shared, and stored securely once a digital signature is collected, eliminating the waste and hassle of real paper.

A simple contract used to take multiple days to create, approve, and then collect all the necessary signatures in person. There is no downtime waiting to get a signature when the entire process is completed digitally. A timestamp will show the exact time each document has been received, viewed, and signed the moment that it happens. E-signature software is also able to completely verify the signer so that there are no disputes when a signature is captured. Documents can be accessed and modified conveniently from a tablet, smart phone, or computer that has reliable internet access.

There will always be some need for putting pen to paper in a physical sense, but technology is paving the way for the use of such an appealing alternative to the old school method. The exchange of records and signatures should never be done through an unsecure method, such as an email attachment. Sales contracts, new hire paperwork, work orders, proposals, and any other sensitive document can be transferred securely through e-signature software. These programs eliminate risk of hackers, unsecure connections, and forgery by following encryption protocols and the strictest industry standards.

The Benefits of E-Signature Software

Electronic signature collection is intended to simplify the process of signing documents in a way that conserves time and money. The software is suitable for diverse situations where a person or corporation would need to generate quotes, contracts, proposals, and other documentation that needs to be signed. E-signature software is reliable, secure, compliant with regulations, and offers the following benefits:

• Secure document storage - Rather than maintain paper files on every single signature collected, e-signature solutions collect all documents in one place. Not only are the documents exceptionally secure, the digital files can be accessed within seconds of a quick search. It eliminates the need for physical bulk, wasting time trying to locate the right folder, and the risk of losing a signature that cannot be easily replaced. 

• Faster payments - Document creation and collection of signatures slows down the process of getting a proposal, quote, or paycheck generated. When all of this can be done electronically, the process is considerably faster than getting it done the old-fashioned way. 

• Unmatched accuracy - Digital contract generation ensures that mandatory fields are never missed, and there is never an overlooked page. 

• Industry diversity - Electronic signature software is highly customizable so that it can be implemented into any industry. There are customizable templates that are easy to access and manipulate, and cloud access helps to reach out to signers that would be unable to meet at a specific location (such as remote workers).

• Workflow tracking - Every document that is accessed through e-signature software leaves a timestamp of when it was accessed, signed, modified, and approved. With most software, the person is identified through their unique IP address to ensure an extra level of security. 

Key Features of E-Signature 

Every electronic signature situation is unique, so the features of each platform should be considered to choose the best solution. Whether the need is a basic program or one with more advanced capabilities, these are a few key features that can be found in most signatures:

• Digital Signature - The most basic feature of e-signature software is the ability to import, create, send, edit, and sign documents completely electronically.
• Mobile Access - Employees and corporate partners are looking for the efficiency and convenience of mobile apps. Mobile access to documents allows the collection of digital signatures anywhere that the individual has access to an internet connection.
• Recordkeeping - An audit trail generates a report of all important information, such as when each signature is collected. It's beneficial to know who signed a document, when any changes are made, and other comprehensive details.
• Compliance with Industry Regulations - Collecting physical signatures often entails some overlooking of industry regulations. With electronic signatures, it's easy to cross-reference details of industry standards to maintain compliance.
• Workflow management - When dealing with multiple signers, the workflow management feature breaks down the signing into stages.
• Employee Document Integration - Employers and employees can appreciate the integration of all important documents into one place. It's a smoother process when e-signatures are collected in the same place as other applications like HR, billing, and customer relations.

Types of Electronic Signature Software

Digital signatures are collected with absolute compliance with laws and requirements for collection. This software is useful in both personal and professional situations when there is a need for sales contracts, invoices, NDA's, rental agreements, work orders, insurance forms, school forms, and work orders.

The following software outlines help to distinguish the key differences in the most important e-signature terms:

1. Electronic Signatures - An e-signature is basically any method of authenticating an individual electronically. It is a means to verify the identity of the person signing before providing secure services. Electronic signatures are used to access corporate email accounts, sign legally binding documents, or simple verification. There are often additional steps in e-signing, including multi-factor authentication and the creation of an audit trail.
2. Digital Signatures - Although digital signatures and e-signatures are interchangeable terms, a digital signature is actually a little more secure. The main difference is encryption during identity verification that will require a certificate-based digital ID. Each signature goes through a process of validation through either a TPS (Trust Service Provider) or CAs (Certificate Authorities). A digital signature is usually the preferred process for high-priority services like doctor signatures, financial transactions, HR business, and loan applications.
3. On-Premise - Clients that use on-premise digital signature tools must own and maintain the hardware. Basically this requires making an investment in the hardware by paying for a perpetual license and maintenance fee. In some instances, the software would be installed on the PC of each user or accessed through a secure browser.
4. Cloud - Tools that are based on Cloud services are very simple to implement, and they work on the SaaS (software as a service) pricing model. Cloud e-signature services function inside a browser and usually renew on a monthly basis.