Significance of electronic signature and must have Top 10 Features of electronic signature

Across globe organizations (be it a start-up, small and medium organization or a large enterprise) are working remote. Despite many challenges, considering the “New Normal” the entire value chain (employees, owners, stake holders, suppliers, vendors, customers, etc) is collaborating online to accomplish tasks to meet business priorities & demand. Signing of business document is one of the critical tasks across all sorts of organizations.

Electronic signature is the most preferred way to sign all business documents in the current context and situation. It is also termed as esignature, e-signature, electronic signature, esignature software, esign tool, cloud esignature, cloud electronic signature software, SaaS esignature software, etc. Documents such as Mutual NDA, Agreements, Partner Agreements, Software License Agreement, Commercial Proposal, Vendor Onboarding docs, Employee Offer Letter, Employment Agreement, Freelance Agreement, etc shall be executed through electronic signature software. There are many electronic signature software available , however lets look at the Top 10 must have features of electronic signature software.

Must have Top 10 Features of electronic signature Software:

1. Sign with Ease: The electronic signature shall be as simple as the user sign on a paper. It shall self instruct the user to sign with ease.
2. Multiple Signature types: The electronic signature software shall have options to sign the way user is interested. User shall be able to upload soft signature or sign with stylus or insert font driven signature.
3. Multi-party signature: Business document signing usually happens with multiple party involvement such as internal stake holders or external signing authorities. The electronic signature software shall provision esigning of multiple signing authority, with out much challenge.
4. Workflow: While adopting electronic signature, its equally important that the document shall flow in sequential way to get esign as required by business. Paperless Workflow is all that is expected from the electronic signature software to make it more convenient and independent of administrative task such us inperson follow-up.
5. Widely used soft copy format: Accommodating of basic soft copy formats such as Microsoft Document and PDFs are critical for the usage of electronic signature software. These are two widely used soft copy format files to sign, scan, share & storesigned docs.
6. Comply to Security Standards: Business documents are confidential in nature, while these docs travel electronically to have esignature, the electronic signature software shall have either 256 Bit Encryption or used Secure Hash Algorithm or AES encryption methodology to avoid any sort of misuse or unauthorised access.
7. Two Factor Authentication: Signing parties shall get authorised access, that means, the software shall stop unauthorized access. While accessing confidential docs through electronic signature, the initiator and authorized signatories shall get second level authentication code to access such docs.
8. Better User Experience: One shouldn’t ignore the importance of the “User Experience”. Past 4-5 years, all the apps and applications have focused more on enticing users with user experience. Although electronic signature is not a business critical application however user’s time is always precious to complete the signing process without loosing much time or toggling between pages / screens. Now-a-days users are looking forward for more simplified applications that accomplishes activities without much technical team’s intervention.
9. Dashboard: Its always important to have a birds view on the status quo through dashboard. How many docs executed, under process, completed, etc are important to understand for the organization.
10. Mobile App: Users are preferring to access enterprise applications via their smart phones. Majority of the users are either Android or iOS mobile operating users. Hence mobile app of electronic signature application is expected by default.

While the electronic signature is expected to be on cloud ( SaaS model), other important features such as Digital Form (fill & esign), APIs for Enterprises or organizations having stringent security policies, eSign bulk docs in one click, user management for Enterprise version, Role based access control, Detailed Audit, Validating authenticity of the esigned doc, etc are required for organizations. Based on your organization need, compliance you can look for such features and subscribe to electronic signature software.

Watch out the space, will share more insights on how electronic signature is yielding benefits to organization from automation and digital transformation stand point.

Written by

Kiran Kumar

Visit website - https://app.cryptoesign.com/signup