E-Signature Software — 12 Questions You Should Have Asked!

Ask these 12 questions to get the best e-signature software

Decades ago, when the growing pace of computers engulfed commerce, many observers envisioned that the 21st century would experience the dawn of the paperless office. However, here we are, still printing sheet after sheet for contracts and forms, spending millions on printers, scanners, storage, etc. In today’s digital era, information at all levels can be processed, presented, captured, and delivered electronically. Let’s talk about document processing, the backbone of most organizations, for contracts, agreements, and forms. Even with the existence of secure, and remote e-signature and digital processes, many of us still resort to the old pen and paper tradition of signing documents. The use of traditional wet signature methods makes for a slower rate of closing business deals as one is needed to wait for emails, phone calls, and signed documents. With the increased use of electronic signatures, sending documents back and forth for reviewing and signing barely takes minutes. E-signatures enable users to sign off agreements from any device without the need to print, scan, or handle them manually. However, according to your particular business requirements, the need for e-signatures may vary. So if you are making the jump from old to new, don’t just go with the flow; verify if the e-signature platforms on your list meet your business demands. When choosing the electronic-signature software apt for your business, you must consider asking the below questions to your service provider.

1. Does your electronic signature platform comply with security best practices?

The electronic signature platform must follow multi-authentication methods before e-signing to protect users’ confidential data. The service providers must allow tracking of your documents via audit trails as proof of transactions, making it easier to prove the legality of your contracts.

Most e-signature solutions are built like a digital fortress loaded with state-of-the-art security features like 256-bit encryption, multifactor authentication, and password protection for your documents. These features keep cyber eavesdroppers and unauthorized users at bay.

TIP: Always ensure that your solution provider meets global security standards and uses robust data encryption technology.

1. What happens to my documents after I sign them?

Keeping your internal documents confidential is crucial for every business. Digital signatures act as a key element in keeping confidentiality intact. Applications like DrySign offer online document storage, eliminating the fuss of storing and preserving critical business documents and all the costs associated with them. With DrySign, you also get detailed reports giving you information like which documents got rejected, which ones are stored as drafts, and which ones are signed.

TIP: Ensure that your e-signature solution provider has the Audit Trail feature to allow you to track the status of your documents remotely.

1. Are e-signatures legally valid?

Under specific e-signature laws for different countries, electronically using signatures is legal. For the U.S., E-Sign and UETA confirm that signatures used electronically are legal if both parties agree to sign. In India, the IT Act 2000 establishes the legality of signatures drawn digitally. The laws differ from country to country, and so do the security standards. E-signatures hold the same legal status as wet signatures and can be used to sign important business documents or contracts. Moreover, it is easier to prove the legality of agreements in a court of law.

TIP: Most global laws protect e-signatures and give them the same status as hand-written signatures.

1. What industries does your platform usually serve?

When you work in highly regulated industries like healthcare, financial services, real estate, or insurance, asking these questions holds importance when it comes to the digital transformation of your business. It is imperative to select an e-signature solution provider that complies with security standards and laws required for specific industries. As the industries such as financial services and insurance deal with a massive amount of data, user forms, and confidential documents, it is crucial to choose the service provider that suits your unique business requirements.

TIP: Research the client and industry range of your service provider along with the use cases they support, before making your final decision.

1. What types of documents can be signed?

E-signatures can be used to sign contracts, acknowledge memos, indicate acceptance of notification, and application forms. There are documents such as employee hiring and onboarding contracts, sales agreements, job application forms, insurance papers, healthcare forms, school or college applications, and many more that can be signed digitally. DrySign, as a holistic digital signature solution, understands that documents can come in various formats. These file formats include Microsoft Word (.doc and .docx), Microsoft Excel (.xls and .xlsx), Microsoft PowerPoint (.ppt and .pptx), Text (.txt), rich text files(.rtf), images (.tif, .jpg, .jpeg, .gif, .bmp, and .png), and web-based documents (.htm or .html). DrySign makes the uploading process more convenient by offering an option to upload from Dropbox, OneDrive, and Google Drive.

TIP: Confirm if your e-signature provider allows you to sign documents in various formats.

Also Read: The Benefits of Using Electronic Signatures

1. Who should use e-signatures?

Any individual, irrespective of age and profession, or organization, can use e-signature software. Whether you belong to a multi-national company or a small local business, the right digital tools can lift your business to new heights. Even if you are a student or, for that matter, a senior citizen, an e-signature solution can expedite your workflows for banking and insurance documents, scholarship forms, application forms, medical forms, etc., and help you go completely paperless.

TIP: Find an e-signature platform that is flexible with their plans and gives you monthly and annual options.

1. What are the ways digital signature solutions can benefit me?

Besides helping you sign and manage crucial documents, e-signatures can help you save almost 30% of your overhead business costs. Most service providers share testimonials and ways the platform has benefited their customers. It is evident that digitizing your entire document signing workflow can make you expect considerable savings in time, infrastructure, and a barrage of hidden costs that add up to a significant amount over time.

TIP: Do a thorough research of the website of your service provider, and speak to the Sales team before you make a decision.

1. Can I request signatures from recipients who do not have a DrySign account?

Absolutely yes! You can request one or more persons to sign the documents, and they don’t need to have a DrySign account. With DrySign, you can effortlessly get documents signed without any hassle or legal dispute. However, if a signer is receiving multiple signature requests via application, it is advisable to create an account, to efficiently track and manage signed or pending documents. Moreover, signers can always try the free account to get to know the platform better.

TIP: Try the DrySign Free Trial!

1. What is the difference between electronic and digital signatures?

The two do sound similar, which may even lead you to believe that they are the same. Yes, both of these are electronic mediums to sign documents. However, the difference is vast when it comes to legality and enforceability. Electronic signatures are a legal concept that captures the signatory’s intent, whereas digital signatures are the encryption technology used to power the solution.

1. How many documents can I sign using e-signatures?

This is one of the most significant aspects to consider while choosing your e-signing companion. Many industries have to deal with thousands of documents every day, which requires a solution without the constraint of limitations.

TIP: DrySign gives you the flexibility of signing a certain number of documents with their plans.

1. Does it integrate with existing tools?

Most businesses and individuals struggle through a dozen business applications to manage their daily tasks. It would help drive employee productivity if your chosen electronic signature software could integrate with the most frequently used platforms like Microsoft, Google, and Outlook. If combining signing experience with other tools doesn’t suit your business requirements, verify if the solution offers a flexible and powerful API that facilitates an intuitive electronic signature experience within your tools. This will also lead to a superior client experience.

TIP: DrySign easily integrates with DropBox, Google Drive, and others giving you seamless efficiency.

1. What is the cost?

With hundreds of electronic signature providers saturating the market, perform your due diligence and compare pricing. Ensure the service provider isn’t overcharging you for basic features or including any hidden charges. Even if you find an ideal electronic signature service provider that fits your business requirements, you always have to consider your own budget constraints first. If the most well-known e-signature provider is totally out of your budget, look for more affordable options.

TIP: DrySign provides a unique pricing plan tailored to your needs and budget.

Now that you are well-prepared to interview your e-signature solution provider don’t forget to get the most out of it. The bottom line is to find the perfect fit, and good research and communication are key. While shuffling through software providers, it is worth your while to consider DrySign as your business transformation partner. Exela’s DrySign is a cloud-based software as a service (SaaS) platform that lets you remotely e-sign contracts and more, anytime from anywhere. Start DrySigning today!

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.