Electronic Signature is a simple asset that any business or a person can use to bind a document legal.
Instead of a person being physically present, he/she simply has to eSign it from the convenience of their smartphone or computer.
An Electronic Signature is now enforceable in most countries including India.
Aadhaar-based eSignatures have gained massive viability in the country, thanks to its easy yet secure vibe.
eSign, as it is known, has turned out to be especially important to businesses in India.
Time is money is a popular saying and going by the value a eSignature renders, it has sure been a game-changing force in many a time-sensitive process of small, medium and large enterprises.
1. Eliminates Fraud
Many business outcomes can be manipulated with an unsuspecting pretense. This mostly happens when a document is forged with a duplicate signature on a paper document.
The Electronic Signature has been designed to completely remove any chance of such a discrepancy.
2. Cloud Based Security
Since the documents are all drafted and eSigned over the internet, they can be easily stored in the cloud.
Cloud Security helps secure your documents against all natural disasters or theft as all information is confidentially saved on the internet.
3. Happy Customers
A business that implies care to the customer is always regarded well. A customer is bound to feel good when he finds that a company values his business by saving time and binding all documents in the most secure and convenient manner.
4. Reduces Operation Cost
Imagine your business is in Bangalore and you need to correspond with a customer in Mumbai: Most communication can happen over the phone or an internet medium.
However, signing a deal needed at least 2 representatives to meet personally before the dawn of digital signatures. Costs for such events are now foregone.
How Do I Make An Electronic Signature?
- Click here to login and upload your document.
- Click on ‘Your Sign’ option on the right side of the document
- Enter your Aadhaar number to generate an OTP
- Submit your OTP to eSign your document.
For the other party that needs to sign the document you will have to:
- Click “Other Signers” option on the right side of the document.
- Enter the phone number and Email address of the other party
A link is now sent to the other party which re-directs to the document. He/she will then enter the Aadhaar number followed by the OTP to make their eSignature.
Electronic Signature – The Future
Currently, 1.12 billion people out of our 1.32 population already have an Aadhaar card. More significantly, over 40 million transactions have been made through a digital signature in the 2nd quarter of 2017.
All of us know how quickly the mobile phone made us forget the landline.
Though an electronic signature may not entirely take over the physical signature as quickly, it is certain with all this evidence that the next decade will see a paradigm shift in the way a legal document is made valid.