Electronic Signature Software. As advanced technologies continue to transform the way businesses perform, most organizations are trying to become truly paperless.
E-signatures help keep a document’s workflow completely digital and can enhance efficiency and security, giving you peace of mind that your enterprise’s and customer’s data is safe. But, not all e-signature platforms are equal, so it’s crucial to look into particulars so you can select a solution that best suits your requirements.
Electronic Signature Software
Electronic Signature Software – 5 Things Need to Consider when Purchasing
Here, we present a few things you need to consider when purchasing Electronic Signature Software software:
Ensure that a document can’t be tamper after each signature
Some Electronic Signature Software solutions provide a feature known as tamper evidence, which allows you to see if an e-signed document has tampered, different solutions handle this in different ways. When looking for an e-signature platform with the best security, check whether its tamper-evident feature tracks everything from the moment the transaction begins.
For legal assurance, it makes sense to make the document tamper-proof after each initial and signature versus waiting until all signatures are complete. The application should find any unauthorized attempted changes. The document’s reliability can be easily protected when you can prove that the first singer didn’t modify the document before it was sent to the second signer.
Some solutions provide the additional option of making the document tamper-proof, preventing any changes to the document once it has been completed.
The legality of the signature
Look for an application that allows you to verify signatures independently. That means you want the proof of an e-signature to be permanently embedded into the signed document. An advanced e-signature platform offers technology that uses published standards and Public Key Infrastructure (PKI) to prove that documents are valid and unchanged. It means you own the evidence so that you can access it anytime – even years after the transaction took place.
That is not the case with most e-signature solutions, which are tied to proprietary standards and need relying parties to go back to the software provider’s website to retrieve information about the signature.
Check whether the solution meets industry compliance or not
You need to investigate that your software complies with all regulatory standards relevant to your industry. It is important to look into compliance needs and potential issues before selecting an e-signature platform.
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Only authorized persons should sign the documents
To guarantee that your documents don’t get in the wrong hands, make sure that the application you select uses at least two factors of authentication. A basic version of multi-factor authentication unites something, like a password, with something that you have set, like an SMS notification to your mobile phone.
A few documents and forms contain more sensitive data than others, so you may need higher levels of authentication, depending on the level of risk involved.
Also, there are a few other ways to prove your signers’ identities, including:
The signers click on a link in an email that is received, which takes them to the transaction.
Knowledge-Based Authentication (KBA):
The signers are prompted to provide the date of birth and the last four digits of their social security number. When answered correctly, they are given a set of multiple-choice questions, which they have to answer correctly to enter the transaction.
Generally, the more rigid the authentication requirements are, the more secure the e-signature is.
The level of integration the software offers
Today, almost all solutions offer integration capability, but it is essential to look into the level of integration they offer. Most solutions link users from one system to an e-signature solution. But, only a few go beyond and allow you to customize the e-signing process to match your branding, which helps you bind the look of the two platforms together.
It is always better to choose a solution that offers true integration. It means the e-signature platform is fully customized to match the style of your existing solution, creating a seamless and easy experience for your clients.
It’s crucial to understand what you are precisely looking for when searching for an e-signature solution. With the right e-signature software, your clients will benefit from improved efficiency, security, and overall user experience.
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