A signature is one’s identity and is used in day to day transactions, for many.
The concept of eSign was introduced through the Information Technology Act, 2000, in India, but has evolved in recent years and is likely to change the face of online transactions.
Every online transaction requires unique and strong protection which is served by electronic signature.
eSigning is very well explained in this article.
The electronic signature is making life easier for record management. Now, let’s have a look at the many benefits of eSign.
Benefits of eSign
1. Saves Time
It has never been easy to get a signature, especially when the party whose signature is required is in a different place.
In case of a wet signature, you will have to wait for the person to come all the way long to sign your document, without which your work would be kept on hold for days together.
With the use of eSign, there is a low consumption of time as the document is signed online instantly. The task which seemed to be tedious is now made easier by electronic signature.
It is highly useful for individuals as well as businesses, companies, banks, etc.
An individual can avail eSign service by having an Aadhaar ID and registered mobile number, he can sign documents using eSign services from any place and at any time.
2. Saves Cost
Besides being time-saving, eSign also saves cost. Since there is no paperwork involved, you don’t have to spend money on paper and ink.
Though this may seem negligible at an individual level, it definitely counts for large enterprises especially for the businesses/ transactions which involve enormous paperwork.
eSign also saves travel expenses since it does not demand the physical presence of the signers, unlike wet signature.
Banks are now getting cost-conscious by reducing the use of papers and have started using electronic signatures.
It also eliminates the cost of printing, scanning and overnight delivery.
3. Remote Access And Improved User Convenience
The use of eSign makes it convenient to make the signatory sign over the document no matter in which country(s)he resides.
eSign users can get involved in an agreement remotely, thus skipping the wastage of time and resource.
It provides convenience as an ideal gateway for small towns and rural population to personalized services that will help make India a digital nation.
4. Verifiable Signature And Signatory
Authenticating customer identity is a top priority. Every signature by the signatory has to be verified so that there is no chance of fraud and the verification helps in validating the signatories signature by the documents provided by him.
5. Legally Recognised
The electronic signature is legally recognised by the Government of India in the official gazette and has announced a method that facilitates certifying authority to offer eSign service to citizens who have an Aadhaar ID.
Provisions related to electronic signature are given in Information Technology Act, 2000.
6. Managed By Licensed CAs
The IT Act provides for the Controller of Certifying Authorities (CCA) to license and regulate the working of Certifying Authorities and also to ensure that none of the provisions of the Act is disregarded.
The Certifying Authorities (CAs) issue Digital Signature Certificates (DSC) for electronic authentication of users.
7. Privacy Concerns Addressed
In the cyber world, eSign ensures that the electronic records are authentic and legitimated. The right of privacy is a Fundamental Right which is enshrined in the Constitution of India.
Every individual is entitled to privacy, SECTION 66C of Information Technology Act, 2000, punishes an individual if there is any identity theft.
8. Simple Signature Verification
Signature verification is the process used to recognize an individual’s handwritten signature. Signature verification is natural and intuitive. The technology is easy to explain and trust.
The primary advantage of the signature verification systems over other types of biometric technologies is that the signatures are already accepted as the common method of identity verification.
Go green and save money with an electronic signature. Going completely paperless would take a lot of effort.
eSign is one of the best ways to go eco-friendly. eSign is used by various firms.
Whether you want to help sustain the environment or sustain your business, going paperless will help you face both the challenges.
10. Aadhaar-Based Authentication
With the Aadhaar-based authentication, the users are benefitted with privacy and ease. Every Aadhaar-holder has a unique ID through which an individual can use the services of eSign.
Therefore, it is mandatory to have an Aadhaar ID and a registered mobile number to be benefited with the eSign services.
Get Ready To eSign
Well, that’s pretty much all there is to get you start using eSign service more productively.
There has been a significant improvement towards using technology in making our lives easier and eSign is yet another significant step in this direction.
eSign is made more available with the assistance provided to you by us through this portal, SignDesk.com. With SignDesk.com, besides eSigning your documents, you can also exchange documents with other parties and get them eSign your documents.