The recent outbreak of the COVID-19 pandemic has further surged this demand for e-signatures. As most of the organizations across industries resorted to remote work through digital channels during the crisis, the usage of e-signatures for completing necessary tasks and operations has seen a rise
Fremont, CA: In recent years, the ubiquity of technology and the demand for mobility had pushed the adoption of electronic signature (e-signature) across different industries, especially in the end-user segment. The recent outbreak of the COVID-19 pandemic has further surged this demand for e-signatures. As most of the organizations across industries resorted to remote work through digital channels during the crisis, the usage of e-signatures for completing necessary tasks and operations has seen a rise. E-signature provides the users with the convenience of signing a document right from a mobile or tablet.
In addition to the convenience, e-signatures speed up the contract processes while providing a high level of credibility and security to the documents and information. Besides, e-signatures provide a paperless workflow and its tracking. E-signatures can also help in the mitigation of risks by providing alerts about suspicious records or compliance issues involved within a contract. In short, all these benefits of e-signatures could add up to make significant cost savings for businesses and organizations.
While e-signatures provide a potential way to build credibility and secure information from unauthorized personnel, these can be utilized in different ways. For instance, signing electronic invoices has become a hassle-free procedure, thanks to e-signatures. It is indeed a faster, secure, and more convenient way when compared to conventional paper invoices. Similarly, by encrypting data, e-signatures shield against potential cyber threats in today’s dynamic threat landscape. Every time a user applies an e-signature mark, the document is cryptographically bound and protected from subsequent changes. Furthermore, e-signature can also incorporate timestamps.
Another feature that the e-signature possesses is the provision for each member of the organization to validate the e-signature of the previous signatories before appending his own. It can add to the confidentiality of the shared document in a closed circle. While the benefits are many, lack of awareness and the variations in digital signature rules and regulations across regions could hamper its extensive adoption to an extent.