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E signature technology is a method that offers legal, electronic versions of signatures made with ink and pen. Companies can use it to automatize signatures on documents and increase efficiency.
Authenticated digital signings provide the cryptographic evidence of a document’s authenticity. They show that it was signed by the person stated and that it has not been altered. They can be verified by using the public key of the signer to the document’s digital certificate. Some eSignature solutions use passwords, codes, or PINs to confirm the identity. Others, including DocuSign utilize keys that are both public and private to establish an authentication process.
While e-signature solutions aren’t completely foolproof, they offer significant security benefits that assist businesses in meeting regulatory requirements. Utilizing an e-signature system which provides context-based documents of the document’s history is particularly beneficial in establishing a record that is worth the effort and legally enforceable. This can include an electronic record of who verified the authenticity of a signature as well as the trust paths between signers.
Implementing e-signature technologies can help businesses save money by removing the need for postage and paper. The company should be prepared for the typical reluctance of employees to adopt new technology. Leaders should be prepared to educate and advocate for colleagues about the advantages of eSignature technology to ensure its adoption. Once employees are on board it is simple to switch to a more efficient way of doing business.
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