Electronic signature is becoming increasingly common in the business world. Many industries rely on eSignature along with solutions like document scanning services to digitize and automate their operations. By implementing eSignature, businesses can enjoy several benefits such as increase contract speed, enhance security and lower transaction cost. However, some business entities are hesitant to use this technology while many others are trying to understand how eSignature use can benefit the business, and how it is a feasible and effective solution for the company. Some myths and misconceptions exist regarding the concept of eSignature and these create some amount of confusion for business owners trying to embrace this technology.
The following aims to debunk some of the most common myths associated with eSignature.
Myth 1: eSignatures are not secure
The fact is eSignatures are perfectly safe. All you have to do is to use signing software that has been built to secure the entire process of online document signing. The software has different methods to secure documents. These include SSL encryption, audit trails to safely track every step of a document’s signing journey, 2-factor authentication, passcodes, and password protected accounts.
Myth 2: eSignature is not as legal as a paper signature
The truth is electronic signatures have been legalized in many countries over the world. In 2000, the U.S government passed the ESIGN Act which grants legal recognition to electronic signatures and records. In 1999, the European Union approved the Electronic Signatures Directive to establish a common legal framework for eSignatures, and encouraged the use of eSignature among the then 15 member states.
Myth 3: eSignatures are highly expensive
This is one of the most common myths about e-signatures and this prevents many business owners from adopting them. The fact is that when introduced, e-signatures were not an affordable business proposition. With advancement in technology, e-signatures are now available at affordable prices and they no longer require business owners to invest a large sum towards adopting them.
Myth 4: eSignature usage requires technical expertise
Another popular myth about e-signatures is that their operation requires technical expertise and you need to be a technical genius to use them effectively. This is not true, eSignature applications are very easy to use and anybody who has a basic understanding of e-signatures or anyone with a functional Smartphone can use them in an effortless manner. Companies which have implemented e-signatures have reported that employees found them easy to use and became accustomed to their operations immediately.
Myth 5: eSignatures come with legality issues
The fact is eSignatures adhere to all legal regulations regarding electronic signatures in order to to survive a test in a court of law. A good eSignature software will have a certificate of completion that includes time stamps indicating when the document was signed, date, IP address of the signers, document fingerprints and IP addresses of the signers.
Advanced technologies and solutions will surely benefit any business adopting them. As one of the document scanning companies in the United States serving diverse businesses, we understand how beneficial eSignature is for business transactions when implemented properly.