Benefits of e-signature softwareįor remote workers, the software can make the sending and receiving of contracts and other signature-based documents more efficient. Most of these vendors offer cloud-based, software-as-a-service pricing, but companies can also deploy many of these products via private cloud options. Many vendors also integrate their e-signature software with other business systems, such as Salesforce, Box, Dropbox, Google Drive, and other customer relationship management or document management tools. Mobile application support for iOS and Android devices.Specific document templates (such as invoices, claims, or job applications). Workflow automation processes (such as submission, approval, and confirmation).Authentication and identity proofing methods. When looking at e-signature software vendors, several common features emerge, including: Use cases for digital signatures include high-risk processes, such as loan approvals, HR manager processes, and doctor signatures.Īdditional types of electronic signatures found in Europe include Standard Electronic Signatures (SES), Advanced Electronic Signatures (AES), and Qualified Electronic Signatures (QES), which include varying degrees of authentication requirements. Digital signatures are validated through a trust service provider, usually through certificate authorities. This adds a level of encryption to the identity verification method. E-signature apps can also utilize multifactor authentication methods in order to create an audit trail.Ī digital signature is a specific type of e-signature that complies with legal regulations for authentication - typically enhanced with additional security features such as a certificate-based digital ID. The system needs to verify the signer’s identity, which can range from a corporate ID to a verified email account. What is e-signature software?Īt its basic level, an e-signature is any type of electronic authentication method that accepts an agreement or contract. “Those folks who adopted e-signature quickly during the pandemic now need to start integrating with both upstream and downstream processes to leverage automation, and not just use it to get something signed digitally,” Muscolino said. Companies that purchased e-signature software as a point solution over the past few years should look at integrating or expanding their use of digital signature tools to support a hybrid workforce. And companies that have adopted the software for sales-based document signing can expand the process to other departments, such as human resources teams, procurement and supply chain operations, and financial services groups.Į-signature tools are often seen as a complement to other product categories, including contract lifecycle management, digital transaction management, authentication software, content management, and even content sharing and collaboration from vendors like Box and Dropbox. There is still significant room for adoption.”Į-signature software can help businesses digitize processes that require signatures, such as sales contracts, purchase orders, and legal documents. Although the market has slowed down, Muscolino said, “it’s still showing healthy growth, because there are still companies who have not adopted this technology. With many companies returning to an in-person office environment or adopting a hybrid workforce approach, where employees work some days in the office and some at home, e-signature vendors are working to convince businesses that they are still relevant. Electronic signature (e-signature) software has surged in popularity over the past two years as enterprises looked to modify their signature workflows to support a remote workforce, said Holly Muscolino, group vice president for content strategies and future of work at IDC. The COVID-19 pandemic did not just disrupt physical meetings and physical office spaces workflows that relied on in-person interaction, such as signing documents and contracts, were also highly impacted.
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