Online Signatures Emergent as a Requirement in 2022 March 1, 2022 | Blog

Online Signatures

 

In order to cut paper costs and minimize security issues, the world is moving towards online signature. A few years ago, we would never have thought of using online signatures but now a day’s many Government institutions, banks, and even telecoms industries are using online signatures to a large extent. Many businesses are looking for such a solution that can sign documents and files with ease and protection, whilst providing a quick ROI.

 

As online visibility keeps increasing day by day people don’t want their businesses restricted due to geographical hurdles. When we talk about such businesses which are spread worldwide, there is a need for multiple people signing from different locations across the world as part of an approval system. So in these circumstances, there is a need for solutions that allow users to sign different documents easily e.g. via a simple web browser, and no specialist software is needed.

 

Here are some key features of online signatures.

 

Multiple Signature Support from dislocated resources:

 

Online signature does allow you multiple signing i.e. you can sign and verify each document independently. It makes the process speedy by allowing multiple people to sign a particular document from different locations. It’s a normal business practice that documents are signed by multiple signatories in a particular order, usually based on their role. With online signatures you can also implement the same approach using a hierarchical-based approval process. In this way the process remains the same but more fast, reliable and paperless. Online signatures can also implement real-world scenarios such as delegated signing where someone signs on your behalf when you are not around, or group signing where anyone from a particular group (e.g. Senior Management Team) can sign a document.

 

Better Automation Process:

 

Many large organizations i.e. insurance companies, banks, etc have to send hundreds and thousands of statements, policies to be signed and dispatched each month. This process is awkward, very costly, and time-consuming. In order to get rid of this hectic exercise. Such companies need an automated signing solution that can sign thousands of documents without wasting too much time and without unnecessary human involvement. With an online signature, you can do error-free document signing in bulk without wasting of time of your important human resources. It not only save your time and money but also make the process speedy which customers will appreciate.

 

Advanced Security:

 

Ink signatures on paper documents are not secure although we have relied upon them for ages. Ink signatures can be copied, the document text can be changed, and new attachments can be added all without notice to an unsuspecting relying party. With advanced online signatures, you actually get a much more secure solution than paper-based ink signatures. You can in fact prove exactly who e-signed the document, and also the fact that the document has not even been changed by a single character since signing. If implemented correctly online signatures also offer non-repudiation capability where the signer cannot even convincingly deny having signed the document. Furthermore, online signatures based on advanced digital signature technology cannot be copied from one document to another, each time you digitally sign a document a different authentication code is produced based on your private signing key and all of the document’s content.

 

Faster ROI:

 

In current worldwide financial crises, everyone thinks twice before spending money. In any company, the expenditure on technology is all about automated and accurate processes with less turn-around time. The real cost of paper[LK1] is surprising and also increasing on a continuous basis. Online signatures provide a cost-effective solution alternative which a really clear and fast ROI.