Digital versus Electronic Signature – Is There a Difference?
If you manage contracts and other documents that need signatures from people who are never in the same place at the same time, you have already been converted to the idea that online electronic signature software is the way to go. The significant benefits of saving time and money, and improving the quality of audit trails are too sizeable to ignore.
However, it is in your interest to understand that what you seek is a digital signature solution, not just an electronic signature solution!
You need signatures that are legally binding, not just more convenient
Electronic signatures are a broad term that applies to any method of signing a document that is done using software. It could be as simple as lifting an image of a pen-and-ink signature and pasting it into another document.?Watch an example here.?You can see that this low-tech solution could not possibly be legally binding!
Digital signatures are a more robust form of electronic signature that use asymmetric cryptography, or even biometric markers like fingerprints or eye scans taken with a computer?s video camera to confirm the signer?s authenticity.*
Because we want a strong audit trail for business agreements, we have build our online e-signature software with strong tracking and security features:
- You know the person is the person intended to sign the document.
- You lock in their electronic signature with unique identifiers and date-stamp the moment of approval. This level of signature is considered legally binding, which is the goal.
E-signature softwares like SutiSign must meet this higher level of security and authenticity to meet the needs of all the businesses that want to convert their paper-based document approval processes to SaaS-based softwares. The cost and time-saving benefits are too great to pass up the opportunity, but only if the sanctity of their contracts is maintained!
Is the need for a software solution that provides strong security clear? What questions remain in your mind about how to choose an e-signature solution?
*For more detail on exactly what the heck “asymmetric cryptography” is, and how it makes digital signatures highly secure and fraud-proof,?click here?for Wikipedia’s explanation.