The ultimate guide to implementing E-signatures.
What is an E signature?
An Electronic seal or ‘E-signature’ is the digital equivalent of a written signature or ‘wet signature’. E-Signatures are used to authenticate and secure electronic documents or data. E-signatures take out the hassle of printing, signing and scanning documents, then sending them back. Instead you can simply click and authenticate, turning a task that can take 10 minutes, into a few seconds.
How do electronic signatures work?
Electronic signatures apply a digital mark to documents or data to confirm their authenticity. These can be implemented via a password protected stamp, written on a tablet and digitalized, a check box or an application such as DocuWare, DocuSign or Adobe sign. Electronic signatures can use a digital image, symbols, biometrics or a digitalized hand written signature. More secure methods use cryptographic methods with a private key to create a digital seal.
The Benefits of electronic Signatures
- Enhanced security: Electronic seals use cryptographic methods to provide a high level of security, making it difficult for unauthorized parties to tamper with or forge electronically sealed documents.
- Authenticity: They confirm the authenticity of documents, assuring recipients that the document originated from a legitimate source and has not been altered.
- Efficiency: Electronic signatures can streamline documentation handling and authentication processes, reducing the need for physical paperwork and manual verification.
- Cost efficient: Using electronic seals can lead to saving on costs by eliminating the expenses associated with physical stamps, printing, and postage. While also being incredibly secure.
- Remote collaboration on documents: Electronic signatures accommodate remote and digital collaboration, meaning you can sign and seal documents from various locations. Again, this will also reduce your cost of postage.
- The Environmental impact: one of the bigger factors is reducing the environmental impact. By reducing the need for paper-based documentation, electronic signatures are more sustainable due to less paper consumption and waste.
- Faster transactions: Electronic signature expedite transactions and approval processes, reducing turnaround times and enhancing overall business efficiency.
- Digital records management: Electronic signatures are easier to manage with digital record-keeping, making it easier to manage, search, and retrieve documents.
E-Signature regulations
In the UK, Electronic signatures are considered Legal and valid. Electronic signatures can be used to execute documents, including documents that require a signature the same as using a wet signature. In court, an E-signature is considered legal if it follows a specific criteria:
1, A person must have intended to sign the document which will need to be proven through an electronic signature platform.
2, Both parties must agree to do business electronically.
3, The system used to create the signature must keep a record of when the signature was created.
4, The signed document must be secured safely and must be stored so that it can be viewed in future in the exact way it was signed originally.
5, The electronic signature must authenticate the identity of the signer.
The top 5 venders for E-signatures:
Adobe sign | DocuSign | Signnow | Dropbox sign | PandaSign | |
Cost | Has multiple plans from £15.17-22.44 this is for the team plan not individual. They also have options for a quote. | Has multiple plans ranging from £8-33 per month. Also has the option for a quote. | Has multiple plans ranging from £8-50 per month. | Has multiple plans starting from £11.67 with the option to get a quote. | Has multiple price plans starting at £19 with the option to get a quote. |
Billing | Annually | Annually or monthly | Annually or monthly | Annually or monthly | Annually or monthly |
Features From business plans | Shared user admin functionality, PDF productivity tools, E-sign tools and integration. | Signer attachments, Formulas & advanced fields, Power Forms, Bulk send Payments, shared templates and customised branding. | Send documents for signature, Basic fillable fields, Mobile app, Unlimited templates and Cloud storage integration. | Unlimited signing, dropbox forms, Tamper-proof documents, Unlimited signature requests, icon tooltip and Signer fields w/ data validation. | Unlimited document uploads and e-Signatures, CRM and Zapier integrations, Content library, Custom branding, Approval workflows, Forms, Bulk send and Salesforce integration. |
The set up process for each of these applications are very similar and very easy with each set up being as follows:
1,Create an account and choose a pricing plan.
2,Upload a document.
3,Add signers by entering their names and email addresses.
4,Add fields to the document where signers need to fill out or sign.
5,Send the document for signing.
With the exception of a few additional features such as DocuSign which allows you to manage your account to track documents and create new ones from templates and to use Dropbox Sign you will need a Dropbox account which is convenient if you already have one.
To summarise
E-signatures are an essential tool for online communications! They Increase productivity by eliminating the time spent scanning documents and filing paper copies, they are cost efficient, easier to manage and provide increased security with using cryptographic methods and encryption. If you have any questions, please feel free to contact Liberate IT or leave a comment below. We would love to hear from you and help you with your IT needs!