Best Practices for Implementing E-Signatures

E-signatures have transformed the way a company handles agreements, contracts, and documentation. An agreement or deal cannot be finalized with a physical signature anymore. E-signatures cut documentation, save time, and increase general operational efficiency.

But e-signatures must be used properly if one is to fully benefit from their possibilities. There are strategies to guarantee you are securely and efficiently applying e-signatures. This lowers risk and increases the advantages they offer your company.

Keep reading ahead to learn about the best practices for implementing e-signatures.

Top 6 Ways to Implement E-Signatures Correctly

E-signatures present a contemporary, quick, safe approach to handle commercial agreements. It calls for careful preparation and execution to be successful. Following some efficient techniques will help you to maximize your e-signature system and improve the compliance and efficiency of your company.

Let’s read ahead to learn about the correct ways to implement e-signatures in your company.

1. Choose the Right Tool

Choosing the correct tool or program for your company marks one of the first steps toward using e-signatures. Given the abundance of tools at hand, you should choose one that fits the technical capacity of your business. These elements should help you to weight e-signature tools:

• Ease of Use
• Features
• Pricing
• Customer Support

Popular e-signature tools from renowned brands like Kofax can enhance your operations and cater to your business's unique requirements. Contact Xeratek today to get the best e-signature solution for your organization.

2. Prioritize Security and Compliance

Dealing with sensitive records calls for maximum security. E-signatures have certain criteria. This guarantees legal validity of the signatures. It protects the data against illegal access. This will help you to guarantee the security of your e-signature system:

• Strong encryption techniques can enable you to protect the data in transit and at rest.
• Law Compliance: The platform should apply relevant rules and guidelines to produce legally binding and safe documentation.
• Two-factor authentication (2FA) offers extra security.
• Track every stage of the signing process. This includes access to the document, viewing of it, and signature in audit trails. This openness gives a clear transaction record. It helps you prevent fraud.

Stressing compliance and security can enable you to protect private data. This guarantees that your process of e-signature follows legal guidelines.

3. Integrate E-Signatures with Your Operations

E-signatures are most successful when they fit your current company operations exactly. An isolated e-signature solution can cause conflict and impede effective workflow. Including e-signatures into your current system lets you automatically sign from right within the platform.

This guarantees that, like the approval of a deal, contracts are automatically sent out upon triggered by particular events. It also lessens the risk of lost contracts. This lets you lessen the need of hand file management. By means of such integrations, you expedite the approval process and lower the possibility of human mistake.

4. Create an Audit Trail

An audit trail is a digital record following every action taken during the signing process. E-signatures depend critically on this transparency and responsibility-provoking element. Below are some important reasons for building an audit trail:

• Legal Protection
• Verification
• Compliance

Ensure that the e-signature platform you choose includes a comprehensive record trail feature. It must retain records for a sufficient amount of time in case you need them for future reference.

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5. Ensure Authentication

Among the key components of the e-signature process is authentication. The integrity of the whole process may be undermined without a trustworthy means of confirming a signer's identity. The following guarantees appropriate authentication:

• Send the document to the registered email address of the signer and ask them to verify their identity by clicking a link or entering a code (a basic approach).
• Some e-signature systems ask signers a series of questions based on personal information, such addresses or past transaction details, using knowledge-based authentication (KBA). Before they can sign, this helps confirm their identify.
• Biometric Authentication: This can grant extra security.
• Digital Certificates: For more secure transactions, one can use digital certificates issued by reputable certificate authorities.

Verification gives even more security to guarantee that only the intended signers may access and sign crucial paperwork.

6. Train Your Team

At last, appropriate training is crucial to make sure your staff is ready to manage e-signatures. Although e-signatures are easy to use, they still demand some knowledge to prevent security flaws or errors. Training your team follows this:

• User Tutorials and Guides: Give staff members unambiguous directions on using the e-signature system. For simple access, present step-by--step guides or video tutorials.
• Good Practices: Teach staff members best practices for e-signature use, including how to check audit trails, validate signers' identities, and keep regulatory compliance.
• Security Awareness: As you handle e-signatures, stress the need of security and confidentiality. Staff should be taught to spot phishing attempts and to refrain from distributing private papers
• Role-Based Access: Make sure every team member understands their degree of access to the e-signature system and how best to apply it in their particular workflow should several departments or roles make up your team.

By ensuring everyone on the same page, training your team helps to lower security risks and error likelihood.

Secure Your Business with E-Signatures

With the right approach, e-signatures can help your business save time. They can reduce costs and provide a more secure way of managing legal agreements. They can keep things simple for your customers and team. Get an e-signature solution from a reputable company today to secure your business and clients right away.