How to Choose an E-Signature Solution
An electronic signature is a digital version of the handwritten signature and helps to accelerate the transition to the paperless office and also to accelerate business transactions. This article gives an overview of existing solutions and how to choose the right software for your business needs.
The idea of the paperless office is to eliminate or reduce paper in business processes. This doesn't only help the environment, but mainly increase productivity and helps to streamline processes. Converting documents and paper to digital processes is known as digitization.
The term The Paperless Office was first used in commerce by Micronet, Inc., an automated office equipment company, in 1978
But a clear trend can be seen in business processes: Electronic signatures are getting more popular in many transactions which is a broad move towards the paperless office.
An electronic signature is a legally-binding, digital way of signing documents online. Using an electronic signature is a competitive advantage for all businesses that requires signatures: agreements, sales contracts, purchase orders, non-disclosure agreements (NDA) and many others.
A signer or multiple signers use software to sign a document in a browser or on mobile devices.
There are several types of signatures including scanned images, handwritten signatures, fingerprints or retina scans or cryptographic signatures. But apart from electronis signatures, there are two more variations:
But are these advanced types of electronic signatures required to have a legally binding contract?
The short answer to the question, if electronic signatures are legally binding is 'Yes'. It always depends on the situation and certainly there are business procedures where 'wet ink' is still required. But most transactions can be already solved with an electronic signature.
Electronic sound, symbol, or process, attached to or logically associated with a contract or other record and executed or adopted by a person with the intent to sign the record.
The United States Electronic Signatures in Global and National Commerce (ESIGN) Act
Apart from pricing and scalability, there are several important aspects to look for when choosing an electronic signature solution.
The following lists some of the available, market leading solutions to integrate document signing into business processes.
TX Text Control is a developer library that provides legally binding electronic signatures to be integrated into business software. The advantage is that the developer that integrates TX Text Control can customize and control the whole process. It can be completely adapted to legal requirements and documents never needs to be send or stored on third-party servers.
A document signing solution should provide a fully programmable API to be embedded in business solutions. In order to be flexible regarding legal requirements, documents should be in the control of the using entity.
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