While these overarching ideas will undoubtedly pay for themselves many times over the course of your career, there are occasions when you just need to judge a specific piece of e-signature software based on the specifics of the requirements. A list of several document and signature security features is provided below to aid in directing your search for solutions to protect the integrity of your data. Digital Signature is the best way to keep secure, read and find out why this is true.
Digital Signature – Codes, PINs and passwords
Although this initial element is by far the most fundamental and simple, it is also the most effective as a foundational level of protection and appears to be quite complex.
You may ensure that the document being signed is authentic and prevent unintentional document tampering at the same time by using a document that is password-protected and sent out by the document owner.
Cloud safety with Digital Signature
The Software as a Service (SaaS) model is used to offer the majority, if not all, digital signature software, therefore it’s important to know what to look for when it comes to the security procedures that will be remotely implemented by the vendor in order to safeguard your legal and business agreements.
If you want to choose the solution that will work the best for your firm, you must fully understand the risks associated with data loss, security breaches, and other issues. There are various methods for doing this.
First, you need to confirm that the potential vendor is utilizing a reliable cloud infrastructure, which is typically achieved through collaboration with service providers like Microsoft Azure or IBM SoftLayer. This has the advantage of guaranteeing that a vendor’s basic security architecture complies with the numerous regulatory standards for the highest level of digital security.
Understanding how the software provider approaches data encryption is the next necessary element of the puzzle. You must comprehend the following two terms in order to proceed:
Data that is stored on a hard disk or in the cloud but isn’t currently being accessed by a program is known as “resting data.”
Transit Data: The transfer of data between servers and applications is referred to as “data in transit.”
You must confirm that the provider you are evaluating has robust data encryption both throughout the rest and transit phase of the data lifecycle in order to have genuinely comprehensive cloud security. This will ensure the security of documents and records while also assisting in the protection of present contracts and agreements.
Authentication of users
Implementing tools to help confirm the signer’s identity is another easy and efficient option to ensure an extra layer of protection for your documents and agreements.
These elements include instruments for verifying a signer’s identity prior to the execution of their electronic signature and a mechanism for connecting that verification to the whole record of e-signature transactions.
A decent user authentication system should support a variety of authentication methods, including document uploads like a driver’s license or other legitimate government identification, email address confirmation, and remote ID and password authorisation.
Timestamps are typically used in conjunction with certified signatures as a way to show visually how a certain document or agreement has been verified.
A digitally signed timestamp proves that a file’s contents were checked at a specific time by a specific person or organization and haven’t changed since. Through an automated service connected to the certification procedure for digital signature, these stamps are retrieved and applied.
Integrated audit trial
For your company, having the capacity to independently validate and archive an electronic signature can provide a critical degree of protection.
This is done by using e-signature software that incorporates the signature right into the document, producing a portable record that is independent of the original program vendor.
This has the overall effect of guaranteeing total control over your records and documents so that access to records won’t be impacted by changes to your account with the vendor.
Compliance check list for e-sign
The next step is to make sure your electronic signatures remain compatible with the numerous regulatory oversights of your business or industry now that you have a better understanding of the security measures you need to protect your data.
Your electronic signature shall not be deemed to be a valid business process unless it complies with all applicable legal requirements.
These are covered by the E-Sign Act of the United States, which grants electronic signatures legal standing.
The common legal requirement that a signature is only legitimate if all parties intend to sign is referred to as “intent to sign,” much like with a traditional signature.
All parties must agree to conduct business electronically in order for an electronic signature to be regarded as legally binding.
The next step in confirming E-Sign compliance is to confirm that the software solution used for the agreement’s notarization maintains an accompanying record that details the procedure by which the signature was created.
Retention of records: The last step is to ensure that all records are saved completely and can be faithfully duplicated by the software program used to assist the signature.
Process of signing for compliance audits
Compliance audits are one of the most crucial components for lowering risk to your company.
These are audits conducted by both internal and external organizations to assess how well a company complies with legal requirements and specifications specific to its size, location, industry, and other factors.
Companies are typically expected to produce comprehensive accounts for their business operations as part of these audits, including the dates and identities of any changes or accesses to documents.
When employing electronic signatures for business transactions, you must ensure that the signing functionality offered by your selected software solution can enable a thorough audit of the signing process itself. This will demonstrate how a client or business partner concluded a business transaction online and meet the requirements of your company’s audit.
If your business is not governed by regulations, this might not be required. If you do, though, you’ll want to make sure that compliance is completely taken care of.
Digital Signature – Secured and signed
Regardless of the type of business you want to run, you can easily allay the security worries associated with digital signature by making a wise choice of a software solution that satisfies your company’s particular organizational and industry standards.
You will be well on your way to understanding exactly what you need to do to manage any and all risk if you follow the compliance checklist mentioned above and are aware of the many security elements.