E-Sign’s August Round Up 2020

Posted 25th August 2020

With another eventful month coming to a close, we’re taking a well-deserved break and looking back at this month’s blogs. The month of August saw us tackling some of your biggest questions about E-Signatures, whether that’s security concerns, how they compare to wet signatures or how your business could benefit from digitalisation. We’ve even busted some popular myths about e-signatures to separate the facts from the fiction. So, in case you’ve missed any of our blogs, we’ve compiled the best bits for you below.

 

Digitalisation for the Modern World

In an increasingly digitalised landscape, things that once involved paper and pen are quickly becoming obsolete. Remember when you had to swipe your credit card with carbon paper and sign for every transaction? Or when transferring money meant writing out and signing a cheque? These days, you can pretty much do anything with the touch of a button.

When everything else is moving online, why shouldn’t your signature?

With the electronic signature market expected to grow around 26% in the next 5 years, your business may now be one of the many considering moving to an electronic signature solution. As with many business changes, some of the biggest questions are often “how will this impact my business?” and “is it secure?”.

How Does the Digital Signature Process Help you?

E-Sign’s e-signatures are essential to an ergonomic and efficient workflow and a cornerstone of digitalised document processes. Our platform allows you to take paper-based admin tasks, transactions and legal agreements and streamline signature collection and processing.

Imagine a world where you no longer need to print, post, scan, or file- our e-signature platform eliminates all of this, allowing you to send and sign documents online.

Am I More Exposed to Fraud online?

At E-Sign, we understand that the safety of sensitive data is a top priority to our customers. In a world where information is king, your data is a valuable commodity- and cybercriminals will stop at nothing to get their hands on it. That’s why we ensure our platform and website are 100% secure so you have peace of mind that your data and document details are fully protected.

Our electronic signature platform ensures the identity of the signer is 100% verifiable. With our embedded iD-Checker, we screen the personal details of your signer against a host of positive and negative datasets from a global ID database, verifying client identity and eliminating the risk of fraud.

Stay One Step Ahead With E-Sign

With the modern business landscape moving towards increased digitalisation, make sure your business stays ahead of the game with E-Sign. If you’re looking to develop your business strategy to a more productive, secure process, then electronic signatures are a good place to start.

As remote working becomes a staple of modern working life, businesses need to stay flexible and agile. Digitalising your processes helps you to increase efficiency and productivity, especially when working from home. Make digitalisation part of your business continuity and ensure your business is ready for anything with E-Sign’s electronic signatures.

Read the full article here

 

How Secure Is an Electronic Signature?

When businesses consider switching to e-signatures, the issue of security is often cited as an area of reservation.  Yet, it’s important to recognise that even if it feels less valid, electronic signatures are just as legal and valid as their handwritten counterparts, and arguably even more secure.

E-signatures are a lot more than just a digitalised version of your handwritten signature. When you go through an e-signature platform, like E-Sign, every electronically signed document is backed up by enhanced security and ID verification.

Are Electronic Signatures Valid?

When it comes to the legality and validity of electronically signed documents, there’s no need to worry. Electronic signatures have been legally acceptable since 2000 under the Electronic Communication Act and eIDAS compliant since 2016.

To ensure full compliance with both these regulations, our electronic signatures:

    • ✔uniquely link the signer to the document
      ✔are capable of identifying the signer
      ✔allow the signatory to retain control of the document
      ✔capable of detecting any subsequent change to the document data

Every document signed with E-Sign is supported by a digital certificate documenting the author, signer, device, IP address and time and date stamp, providing additional information linking the signer to the document.

Secure E-Signature Platform

At E-Sign, we understand that the safety of sensitive data is a top priority to our customers. In a world where information is king, your data is a valuable commodity- and cybercriminals will stop at nothing to get their hands on it. That’s why we ensure our platform and website are 100% secure via 256bit SSL encryption, so you can have peace of mind that your data and document details are fully protected.

For additional protection, E-Sign’s electronic signature platform is also equipped with:

    • ✔Secure by Default Infrastructure
      ✔Secure Platform and Website
      ✔Secure Document Transactions
      ✔Secure Storage
      ✔Secure Document Uploads
      ✔SMS Authentication

ID verification

While the internet can help us get the most out of our business, it can also pose a threat to our information. With fraudsters, scammers and hackers become increasingly sophisticated and worryingly common, you can never be quite sure who you’re communicating with via email. At E-Sign, we recognise this risk and have implemented a water-tight solution to combat fraud and deception.

Our electronic signature platform ensures the identity of the signer is 100% verifiable. With our embedded iD-Checker, we screen the personal details of your signer against a host of positive and negative datasets from a global ID database, verifying client identity and eliminating the risk of fraud.

This is achieved by checking:

– UK and International passports
– GB Driving Licenses
– Mortality register
– UK credit header
– Age
– Address checks

Secure Payments With E-Sign

Integrating payment gateways into our platform combines what was once two separate transactions into one simple process. When you gather a signature and collect a payment from a signer, E-Sign will submit the transaction via your payment gateway for routing to the payment networks. You will then receive the payment straight into your account.

At E-Sign, we understand that people can feel uncomfortable with processing payments online due to the risk of fraud or hackers. But rest assured, no payment data is held within E-Sign, all information is encrypted and securely handled by Stripe, so hackers and cybercriminals cannot access and exploit your valuable payment data.

Read the full article here

 

Top 10 Myths about Electronic Signatures Debunked

Despite their growing popularity across a variety of sectors, myths about electronic signatures are still prevalent in the business world. Like with most new technology, these myths stem from misconceptions and false assumptions. From internal processes to external transactions, businesses across the UK stand to benefit from reduced office expenditure, streamlined processes and improved efficiency.

Don’t let false information about e-signatures cloud your judgement. To help you recognise the facts from the fiction, we decided to debunk the top 10 myths surrounding e-signatures.

  1. E-Signatures are not legally acceptable-E-signatures have been 100% legally binding and court admissible since 2000 with the introduction of the Electronic Communication Act.
  2. E-Signatures are too expensive- With the money you save using e-signatures, you can digitalise your processes with no extra cost to your business and can even save money by using e-signatures.
  3. E-Signatures are just a fad– With the market share of e-signatures expected to grow by 26% by 2030, businesses across the world are set to digitalise their document processes and start benefiting.
  4. E-Signatures are just digitalised handwritten signatures- In order to qualify as an advanced electronic signature, our e-signatures uniquely link the signer to the document, are capable of identifying the signer and are capable of detecting any subsequent change to the document, making them so much more than a digitalised version of a handwritten signature. 
  5. E-Signatures are not secure-With advance security and ID verification embedded in electronic signatures; e-signatures are even more secure than their handwritten counterparts.
  6. E-Signatures are hard to set up-With E-Sign’s platform, setting up an e-signature and digitalising documents is easy. 
  7. E-Signatures aren’t user-friendly– E-Signatures are just as convenient and efficient for signers as they are for you and your business. Your e-signers do not need an account to access or sign documents, so there’s no extra hassle or cost to your clients.
  8. You can’t have more than one e-signee per document- E-signatures actually make managing multi-party documents easier, with the ability to co-sign and send documents to multiple signers at once.
  9. Digitalised documents are hard to manage-With our user-friendly dashboard, you can centralise document management and easily keep track of your signed, pending, uploaded and template business documents.
  10. All E-Signature providers are the same-In reality, every e-signature provider is different, offering unique functions and services for a variety of price points. Our cost competitive analysis shows that E-Sign’s electronic signatures provide better value for money and greater flexibility than our competitors.

Read the full article here

 

E-Signatures Versus Wet Signatures

Although electronic signatures have been on the scene for over 20 years, they are once again experiencing a surge in popularity in the wake of COVID-19 and remote working. Two of the biggest questions businesses often have about e-signatures are ‘what are electronic signatures?’ and ‘how are they different from normal signatures?’

Wet Signatures

A ‘wet’ signature is the traditional way of signing a document by putting pen to paper. They indicate the signer’s intent to agree to the contents of a document. Handwritten signatures have been around since as early as 3000 BC and have remained unchallenged in their dominance…until now.

 Electronic Signature

An ‘electronic signature’ is a digitalised version of the traditional handwritten signature, which can be used to sign online or digital documents, so there’s no need for printing or scanning. Electronic signatures have been legally acceptable in the UK since 2000 under the Electronic Communication Act.

Convenience

On the surface, handwritten signatures may appear more convenient. If you have your document to hand, all you need to do is put pen to paper. Yet there are often several other steps involved in the process, which makes hand signing documents a much more inefficient process than it first appears. With electronic signatures, you can eliminate all these steps, making the process a lot more convenient for you and your signers.

Cost

From printing costs such as paper, printing ink and toner to stationary costs and postage fees, traditional signature processes can cost your business thousands of pounds each year; costs that could be all but eliminated with e-signatures and document digitalisation. With e-signatures, you do pay your chosen provider for access to e-signature functionalities, but the cost to your business is likely to be no more than what you already spend on paper-based processes.

Environmental Impact

Paper production contributes to deforestation and groundwater pollution, as well as consuming large amounts of energy both during production and transportation, no doubt contributing to accelerated global warming. Electronic signatures allow you to 100% digitalise your document processes, helping your business to go paper-free.

Security

While most people assume that written signatures are more secure, they can be easily forged, with very little evidence to verify the true identity of the signer. Advance electronic signatures, however, are much more secure and backed by a fully traceable audit trail and embedded ID verification, for peace of mind that your signers are who they say they are and that your transactions are above question.

Efficiency

E-signatures streamline and simplify your administrative tasks and document signing processes, helping your business to improve workflow efficiency, save valuable time and increase productivity. Electronic signatures can also significantly reduce document turnaround times, so you can complete internal processes and external transactions in a matter of days, not weeks.

Read the full article here

 

5 Reasons Why You Should Consider Digital Signatures

In the current economic climate, you may be reviewing your business for weak spots or areas of improvement. The next few months could be sink or swim for your business, with millions of businesses and jobs under threat from the deepest recession the UK has ever experienced. If you are looking to get the most out of your business resources, employees, and finances, digitalising your processes with electronic signatures is the perfect place to start.

  • Stay ahead of the curve

Even before coronavirus hit, paper-based processes were becoming outdated and inefficient in an increasingly digitalised business landscape. In a post-coronavirus economy, no business can afford to be held back by ineffective and sluggish processes. When everything else is moving online, why should your signatures get left behind? With electronic signatures, you can digitalise your internal processes and external transactions, collecting signatures from clients and colleagues quickly and efficiently.

  • Save valuable time and effort

When time is money, every minute you waste on paper-based admin is costing your business. In this economy, no business can afford to waste valuable time, effort, or money on outdated, inefficient processes.  Using an electronic signature to e-sign digital documents can increase your process productivity by anywhere between 30-50%, helping you to potentially half the amount of time you currently spend on document processes and signature collection, freeing up significant time to invest elsewhere in your business.

  • Be better prepared for remote working

With remote working likely to stay a permanent part of modern business life, ensure your business adapts to the ‘new normal’ with effective digitalisation. By switching to digitalised documents and electronic signatures, your employees can smoothly transition between office work and home with little to no disruption to your business for greater efficiency and productivity. By investing in e-signatures as part of your wider digitalisation strategy, you can ensure your business remains operational and productive no matter what is thrown at you.

  • Reduce operating costs

With the UK currently experiencing the deepest recession since records began, your business may now be looking to reduce outgoing expenditure without sacrificing vital elements of your business productivity. If your business is looking for ways to save money, electronic signatures are the perfect place to start.  The smaller costs of paper, envelopes, printing, and postage are often overlooked but all add up to a substantial cost to your business. Using e-signatures and digital documents, you can effectively eliminate these costs and potentially save your company thousands of pounds per year.

  • Improved customer experience

In this economy, retaining old customers and gaining new ones has never been more important. For a smooth customer experience, you need to ensure your processes are as easy and convenient as possible. By utilising e-signatures, your customers can sign documents and complete transactions in just a few clicks, at no inconvenience or cost to them.

So that was August! Watch this space for more informative blogs coming your way in September.

E-Sign is a leading provider of electronic signature solutions supplying professional Electronic Signatures, Form Builder, Web Form, ID Checker and Personalised Email solutions to businesses across the UK.

To find out more about our E-Sign solutions and how they could transform your business, get in touch with us today.

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