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Published August 12th, 2016 by

Is Your Signature Safe When Using an Electronic Signature Software?

Is Your Signature Safe When Using an Electronic Signature Software?

The modern technology changed the way people deal with their daily transactions. Almost all industries are now using the electronic signature software to streamline their processes in getting the necessary signature to complete a deal. It makes every transaction quicker and easier for both the company and the customer.

But, is your signature safe considering that you are making an agreement online? Will you be prone to identity theft? Is it trustworthy? How can it protect the customer’s information? How can the company verify the signer? These might be some of the questions you have in mind when it comes to using a signature software. It is crucial for an eSignature tool provider to guarantee that the documents are protected from unauthorized access or reproduction.

What Is an eSignature Software?

An eSignature software allows you to electronically sign or mark documents and forms such as the ones used in accounting, construction, financial services, healthcare, legal services and real estate. An eSignature is a way of signing any non-printed document. You may use a mouse, stylus, your finger or you can simply type your name then a software will verify the identity of the signer.

In terms of document integrity, the digital signature software is more reliable and can easily verify the signer. According to tScheme, offers a highly secure transaction which can quickly detect if there are modifications done on the contents of the documents, unlike when using a fax and phone to transact which is unreliable and lacks accuracy. However, if the processes and procedures in using the electronic signature are not properly followed or if it is poorly implemented, its credibility will just be the same with the paper signature.

The software uses the public-key cryptography technology wherein it scrambles the digital messages so the content will be unreadable by anyone except the recipient. It ensures that any alteration made in the document will not go undetected. The cryptographic algorithm is used to encrypt the contents of the documents which is indecipherable by the human eye. The signer will have a digital key which will be used to sign the documents.

How to Determine a Non-compliant eSignature Software

Non-complaint signature software does not observe the laws of an electronic signature, such as the Federal ESIGN Act that was passed in 2000. This type of software is not legally binding and it has no value. It doesn’t have any restriction so anybody can just upload a photo of a signature and use it to create an agreement or a contract. It doesn’t provide any option to verify the signer and determine if it is fraudulent or not.

Most of the non-compliant software just requires you to copy the image of a signature to a PDF to make a transaction. However, it is not connected to any evidence that will make it legally binding. It does not create a file to prove the identity of the signer. It cannot even track if there are modifications made to the contents of the documents after it has been signed. This puts your signature in jeopardy. The signer, as well as the content, is not protected so you cannot even use it in the courts because it is not legally binding. And what’s even worst is that you won’t be able to make any claims, whether the document is reliable or not.

Understanding the Compliant Electronic Signature Software

So, how will you know if a signature software is a complaint? Well, based on DocuSign, the software should follow all the processes both locally and internationally as defined and regulated by the electronic signature law. It should be legally binding and protects all the sensitive data of the signer.

The best eSignature tools can easily validate the signature and can link it to the signer for authentication. It should not allow any parties to make changes in the agreement contents after it is signed. Any alteration of the document should notify all parties, so they will be aware of the changes. It should also generate an audit trail on every document which logs every activity done on the document with the date and time stamps. Take advantage of reviews of eSignature tools to learn more if a particular software is compliant.

How Can I Ensure That My Signature is Safe?

Businesses want to take advantage of the benefits of the electronic signature tool without risking the business, and clients want to have a convenient transaction without compromising their personal information.  This simply shows that everyone wants to have a secure electronic transaction. A secure transaction should have the integrity, authenticity, and confidentiality. The content of the documents should arrive at the recipient exactly as it was sent. There should be no modification or alterations made to the documents. If you notice any changes, then it is a warning that your information is not safe. Both signing parties should be verified for the transaction to be authentic. It is completely unacceptable for an individual to pretend to be someone else and sign the documents. Another factor that needs to be considered is the privacy of the documents. The signing parties should be the only people who can read the contents of the documents. Also, it should include the date and time so you can track when the sender sent the message and when the receiver received it.

Determine the key points of the software provider through a security test. First, verify if the provider is compliant with the eSignature directives of your state or with the international law. Check if it complies with the checkpoints set by European EC/1999/93, ESIGN Act, and UETA. Then, confirm if it can validate the documents in case it will be required to be used in courts as an evidence for legal issues. It should have a way to certify its validity, such as audit trails with time stamps. Lastly, the documents should be encrypted all throughout the transaction and while it is stored. This ensures that the contents of the document are protected from individuals or parties who want to get hold of your sensitive information. Ensure that the company you are working with uses a Secure Sockets Layers (SSL) encryption so you can have the assurance that your documents are secured. This prevents unauthorized people from reading and modifying the documents.

Take extra precautions when dealing with sensitive information. According to Hellosign, using a public Wi-Fi for an online transaction is not a good idea. If possible use a VPN or secure network to ensure that your information is safe. Secure all digital devices that have your personal information such as phones, apps, accounts, and computers. Software and hardware are vulnerable to data breach if left unprotected, so make sure to put a password if you don’t want your information to be at risk. Also, keep your security software up-to-date to have the latest security and virus definitions of the software. Updating your security software will also help fix the bugs and issues of the software.

Benefits in Using the Software

Why do businesses want to use the software? Why do customers prefer the eSignature? Agreements and applications that used to take days to complete can now be done in hours using the software. It provides a secure transaction and at the same time it has the capability of verifying the signer. Some digital signature tool will show a guide on how to fill out the application forms and agreements in order for it to be error-free, making the transaction easy, quick and can be completed in just one attempt. You no longer need to send documents back and forth, which is time-efficient. No need to print, fax, scan and print the documents, making it cost-saving. Businesses today integrate the software into their current workflow in order to increase their competitiveness, productivity, and efficiency. Industries such as education, insurance and mortgage can gain plenty of benefits from using the software, which can definitely help in the business growth.

One of the most useful features of the software is its ability to work on different devices such as computers and mobile phones. It gives the signing parties the convenience of being able to sign the document from any location. No need to meet face-to-face to make an agreement since it can be done online anytime and anywhere. It improves the customer satisfaction as it offers a hassle-free and secure transaction.

With its tracking capability, you will know if the document has been received, viewed and signed. No need to manually monitor the status of the document, unlike the paper transaction wherein you need to track if the receiver already got the documents which can be time-consuming since it will arrive for days. Check out other benefits that you can get through the digital signature software reviews.

To ensure a safe and secure online transaction, you need to verify if the electronic document signature software is compliant and also, as a signer take safety measures in order to protect your sensitive information.

Do you think digital transactions are safe? Learn more about the digital signature software through CrowdReviews.

John Tovar

John specializes in the creation and planning of business-centric mobile applications and mobile website design and development.

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