Electronic signatures or eSign, are a new, modern way of digitally signing and approving documents that are legally valid. This virtual method of signing has begun to replace the paper-based manual process of handwritten signatures and speed up the process of executing documents, agreements, and legal contracts.
What’s eSign and How Does it Work?
An eSign or electronic signature is an electronic equivalent of handwritten signatures that are legally binding and by which you can obtain or provide consent to a digital document. It is usually generated by a proficient and authorized eSigning tool offered by an authorized service provider such as SignDesk.
Typically, an eSign is generated in a digital format that may or may not resemble a handwritten signature or in the form of a symbol. A request will be initiated by the document owner to all the signing parties via email; once the recipient of the signature request agrees to virtually sign the document, the eSign gets attached to all the pages.
Types of eSigns You Can Execute Using SignDesk
- OTP-Based eSign
These are eSignatures that can be executed by entering the OTP received either on your email or your phone. If the initiator chooses the OTP-Based eSign when inviting you to sign the document, you will be asked to enter either your email address or mobile number to receive the OTP. Once you enter OTP and it is successfully verified, you will have executed your eSign.
- DSC Signatures
Digital Signature Certificates (DSCs) are a more secure way of adding your eSign online to a document. In this method, the entire document is encrypted using secure and verifiable private keys that are unique to each signing party. Moreover, SignDesk is a certified authority for providing DSC, thus providing you with added security and peace of mind.
- Aadhar-Based eSign
In the case of Aadhar-based eSignatures, the signing parties can execute their eSignatures by entering the OTP received on their Aadhar-linked mobile number. For this, the signing parties are required to enter their Aadhar number and key in the OTP received after that.
Why Should You Choose eSignature Over Traditional Signatures?
As a result of digital transformation, most industries with manual workflow have already transitioned to digital workflow. Therefore, it is only prudent for businesses to catch up with the trend for documentation before it is too late, and eSign is allegedly the first step toward digitizing the documentation process. Here are a few reasons why you should make the shift from traditional signature to eSign.
- Cuts Down Stationery Costs
The traditional workflow of signing contracts and documents requires vast amounts of varied types of stationery. You will have to set aside a sizeable budget just for stationery. However, eSign cuts down this cost by a huge margin. Over several years of business operations, the money you saved on stationery will make a huge difference.
- Less Time-Consuming
Manual signatures are extremely time-consuming, especially when signing large volumes of documents. By integrating eSign, you can sign any number of documents and pages in the shortest amount of time. eSigning will expedite the documentation workflow right from the get-go.
- Eliminates Signature Mismatch
This is one of the most common problems of handwritten signatures and is all the more prominent in financial transactions. With an eSign document, the problem of signature mismatch is completely eliminated.
- Ensures Signature on All Required Pages and Places
Fatigue is a common factor that must be considered when executing handwritten signatures. As a result, it is highly likely to miss out on signing on some of the places or even pages. By implementing eSign online, you can rest assured that your signature is placed on all the pages and places.
- Cost-Efficient process
Handwritten signatures require hard copies, and if there are multiple stakeholders involved, then numerous copies have to be made, which will eventually become a costly affair in the long run. Such kind of additional costs can be easily eliminated with eSign.
- OTP-Based Authentication
Forging is a common act of fraud associated with hand-written signatures, making manual documentation extremely prone to unwarranted duplication and other security risks. The process of adding eSign to a document is reinforced with OTP-based authentication, reducing such security risks.
- Real-Time Notifications
In the case of an eSign document, real-time notifications are received by all the stakeholders involved when one of the parties executes their eSignature. This ensures transparency, enhances trackability, and improves visibility and accountability throughout the documentation process.
- Robust Audit Trail
In line with transparency and effortless record keeping, you can track the audit trail of the eSigning process. These include capturing document ID, document Title, signature method and algorithm, assigning signer names, IP address, timestamp, adding email and mobile numbers, geolocation, signer Image, consent details, and activity history.
How to eSign a Document – A Step-by-Step Process
- Step 1: Login to SignDesk
First, register or sign into SignDesk to access the dashboard. If you are a new user, register by filling in the details, and if you are an existing user, log in with your credentials.
- Step 2: Upload Document
Next, upload the document you want to sign. On the dashboard, click the “Upload Document” button, browse through your files, and upload the document you want to e sign.
- Step 3: Invite Signatories & Enter OTP
Once the document is uploaded, you will be redirected to the “Signature Panel” window. Here, you can see the preview of the document you have uploaded.
First, affix your signature by entering your Aadhar number in the field provided and click “Get OTP” (you will receive the OTP on your registered mobile number, so make sure you have your mobile phone with you).
Enter the OTP and click “Submit OTP”. Upon successful verification, your eSign will be affixed.
Once your eSign is affixed, invite other signing parties by entering their email addresses.
NOTE: You can skip this step if you are the sole signatory.
- Step 4: Document is eSigned
Once all signatories receive the document in their email, they will affix their eSign online by entering their Aadhaar number and verifying the OTP.
- Step 5: Finalized Document is Sent to All Parties
Finally, once all parties have eSigned the document, the initiator and all the signing parties can download it from their email.
Which Documents Can Be eSigned?
- Legal Contracts
- Onboarding Documentation
- Invoice and Receipts of Payments
- Purchase Orders
- Contracts of Compliance
- NDAs and Letters of Intent
- Vendor Agreements
- Offer and Employment Letters
- Financial Documents
- Loan Applications and much more
Who Can Leverage SignDesk’s eSign Solution?
- Academia – The need for signatures in the academia sector is prominent. From authorizing syllabuses to providing payment receipts, eSigns are much needed.
- Service Providers
- Policy Makers
- Board of Education
- Accounting – Signatures are a non-negotiable aspect of the accounting sector. Our eSign solution ensures ease of workflow for all stakeholders.
- Revenue Officials
- Tax Department
- Commerce – Ensure smooth workflow from end to end in the commerce sector by integrating eSignatures.
- eCommerce Businesses
- Communications and Media – Time is of the essence in the communications and media sector. Be the first to reach out to the audience with seamless eSign integration.
- Public Relations
- Advertisement Agencies
- Print Media
- BFSI – Secure and streamline your financial transactions with eSignatures and cut down on the additional costs involved in the process.
- Loan and Credit Agencies
- Government – Execute, authorize, and secure local, state, national, and international information with SignDesk’s eSign.
- Pharma – Enhance the customer experience of your healthcare organization by executing paperwork with absolute convenience through eSignatures.
- Insurance Companies
- Care Homes
- Information Technology – Take your tech firm a step further with eSignature by automating and adding efficiency to everything from onboarding to providing customer support.
- Human Resource
- Legal Services – If there is one way to make legal services fast, efficient, and cost-effective, it is through integrated eSignatures.
- Law Firms
- Legal Advisors
- Real Estate
- Manufacturing – Keep up with Industry 4.0 standards and automate your paperwork with eSignatures. Do not let paperwork hold you back.
- Nonprofit – Even acts of service require proper paperwork, and SignDesk’s eSign solution will help you deal with it effortlessly.
Why Should You Choose SignDesk eSign?
- Multiple Signature Options
You can digitally sign documents using your preferred option. SignDesk offers multiple signature options such as Electronic, Autosign, Aadhaar online, Aadhaar XML, PAN-based, Cloud-based, and Video-Based Evidence Creation.
Signers can give trusted initiators permission to automatically sign documents when they initiate it with SignDesk AutoSign. This smooth procedure reduces the number of manual processes involved, as signatures are automatically appended upon request from authorized parties, improving workflow efficiency and convenience for documents.
- Flexible Signing Orders
If the initiator has added multiple signatories, then they choose the order in which each signatory has to sign. There are two options to choose from: parallel and sequential. If the initiator chooses parallel, then all the signatories can sign the document simultaneously, and if it is sequential, then the signatories can sign the document in the order they are assigned.
- Smart Dashboard
The initiator can manage all their documents on a single interface dashboard. They can track the progress of each document, receive notifications, amend changes, etc., all within the dashboard.
- SSO Login
Utilize our hassle-free SSO Login option to streamline your SignDesk eSign experience. You may easily access our services using your Google or Facebook login, doing away with the need for multiple logins and login credentials.
With our Co-Branding Feature, you may use our services to improve the visibility of your brand. You may use Co-Branding to add your company’s colors, logo, and other brand components to our platform to make it uniquely yours.
- Push Notifications
Be informed every step of the way with push notifications. Once you’ve sent documents to the signatories for eSigning, you will receive real-time notifications as and when the signatories execute their signatures. You can choose to receive the notifications on your Whatsapp, email, or both.
- Letter Head
Use the Letterhead Attachment feature to streamline the customizing of documents. You can add signatures, co-edit templates, change margins, etc., of the uploaded letterheads. Next, you can download the completed document, ensuring it has a professional layout and is branded, along with the attached letterhead and signatures.
The impact of digital transformation has been nothing short of spectacular, and almost all industries have embraced it. It would not be an exaggeration to say that eSign has been widely accepted and still growing to be adopted by numerous business organizations.
The scope of eSignatures is broad, and SignDesk is playing a key role in boosting the global adoption of eSign. Ink.it is SignDesk’s customizable eSigning solution that has been widely accepted by some of the top banks and MNCs.
Want to be a part of the eSign revolution?