No contact? No Problem: Going Paperless with Electronic Signatures during COVID-19

Posted 11th May 2020

As businesses move more into the online world, why shouldn’t your signatures?

It’s safe to say that COVID-19 has changed the way we live and work. With more people than ever working remotely, traditional signatures and physical sign-off processes are no longer an option for most businesses. Just like its handwritten counterpart, electronic signatures are a digital indication of a person’s intent to agree to the content of a document and have been legally acceptable since 2000 in the UK.  As an advanced electronic signature provider, E-Sign can supply the ideal solution to digitalise your document signatures, helping your business to remain operational during the COVID-19 pandemic.

 

How Do Electronic Signatures Work?

Electronic signatures use mathematical algorithms to generate a ‘hash’, which is then encrypted as the document is signed. When an e-signature is sent via E-Sign, we use a second algorithm to create a second hash, whilst also decrypting the original hash from the signed document. If the two hashes match, the signature is valid. This process helps to verify a signature, ensuring the signed document is valid and legal.

 

The Benefits of Going Paperless During COVID-19

 

Work remotely

With Electronic Signatures by E-Sign, you can continue to make those important business agreements even if you and your clients are working from home. With social distancing measures firmly in place across the UK, traditional signatures can no longer be carried out in-person. With lengthy postal times and the possibility of contamination, it’s much quicker and safer to send and sign documents electronically, eliminating the need for handling physical copies. Moving forward, electronic signatures will no doubt play an integral part in remote working, a flexible mode of working that is likely to stick around long after the coronavirus has passed. Investing in an Electronic Signature by E-Sign builds flexibility into the very heart of your business, helping you to future-proof your organisation and stay ahead of the curve.

 

Save Money

Electronic signatures are a cost-effective alternative to handwritten signatures. The ability to sign a document online eliminates the need for printing and postage, helping your company to save money on printing costs such as paper, ink and toner, whilst also reducing expenditure on envelopes and stamps. These may seem like small costs to your business, but they all add up. It is estimated that going paperless could save a business up to £284,840 a year. Given the financial pressures that many businesses now face due to COVID-19, cutting operational costs has never been more important. By making a simple switch to electronic signatures, you could save a substantial amount that could otherwise be reinvested into your business.

 

Save Time

As the old saying goes time is money, so you want to ensure your business is operating at maximum efficiency. Traditional sign-off processes can slow things down, whether they are internal or external. E-Sign’s Electronic Signatures allow for a more productive business environment by utilising streamlined secure document processes. Waiting 2-3 days for postage is simply not an option for time sensitive contracts or business deals. With instantaneous delivery and rapid, secure authentication there’s no need to wait days for document turn around. With the ability to create unlimited and reusable templates you can reduce time spent on preparing documents, helping to automate your business processes.

 

Save Space  

Physical documents can pose both storage and security issues. When you switch to electronic signatures, documents can be sent and stored electronically, eliminating the need for physical storage spaces. A secure digital identification is embedded into an electronic signature that is unique to both the signatory and the document, which is then securely stored within an encrypted document storage facility. With instant access to files for authorised personnel, finding the relevant document is more secure and efficient than with traditional storage solutions, with electronic storage creating clear audit trails of document and transaction history. Having your signed documents storage electronically also means that you can access your archive remotely, perfect for home working when access to your office is restricted.

 

Safe Storage  

Using state of the art servers within the UK and Isle of Man, we can provide enhanced physical and digital security to protect your data. We operate with server-side encryption (SSE) to encrypt your data and use twin firewalls to protect our database 24 hours of the day. With end-to-end encryption and integrated identity and Access Management policies, you can be sure that only authorised personnel can access signed documents after they enter the encrypted client library. Every signed document is supported with a digital certificate documenting the author, signers, devices used, IP addresses, time and date stamps, which can be stored alongside the originals for additional verification.

 

Secure Transactions

To ensure document transactions remain secure, E-Sign utilises Secure/Multipurpose Internet Mail Extensions (S/MIME) to send digitally encrypted emails, which are accessible via Public key infrastructure. E-Sign also uses SMS Two-Factor Authentication for added security. The documents signers will be sent a onetime passcode via text message, which must be entered before they are allowed access to the documents.

 

Why E-Sign?

E-Sign’s advanced electronic signature technology allows your business to digitally send and sign documents efficiently and securely by recording transaction details and linking the signer to the documents. Our process ensures the highest possible level of security for these digital transactions, with E-Sign’s software creating a unique digital fingerprint, so you can be sure your documents are safe and that your signatures are verifiable.

Our electronic signatures are quick and easy to use, allowing you to harness the latest technology for optimal efficiency, especially when working remotely. With an Electronic Signature by E-Sign, you can ensure your business remains operating efficiently, whether you are at the office or at home.

 

Still not sure how your business will benefit from electronic signatures? Why not try our 14-day free trial to find out! To register for your free trial, simple click here

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