How to Secure Your Business with E-Signature Software
In the professional landscape, deals can happen anywhere, and at any time. Hands are shaken, contracts are drawn up, and signatures can be requested at every turn.
To increase productivity and contract completion speed, many companies have adopted the use of digital records and connected devices. Physical signatures continue to be phased out, and the “new normal” of “digital, digital, digital” has become all-but mandatory for companies to compete with one another.
But how secure are these digital signatures? Are they prone to the same misuse, forgery, or mishandling of traditional ink? In this article, we’ll explain all the security benefits that electronic signatures bring to the table, along with our recommendation on how to secure your business with e-signature software.
Anyone who’s ever written their parent’s name on a bad report card knows just how easy it is to forge a traditional ink signature. While some forgeries are no doubt worse than others, the fact remains that traditional signatures are far more prone to attacks from technological advancements in criminal activity or software.
Likewise, the current social distancing climate of the pandemic has become a breeding ground for fraudsters looking to capitalize on the public’s embrace of contact-less services. Businesses worldwide have transitioned to remote customer service departments, making it far easier for criminals to use, upload, or edit fake documents, scans, and photos of real documents through the use of graphic editors, document images from mobile and desktop screens, or even the use spoofing and deepfake technology to fool remote document verification systems.
Thanks to the tamper-free encryption built into most e-signature software, your business will never have to worry about such occurrences. Unauthorized users are prevented from accessing your most important information from the get-go, granting an extra layer of protection and authenticity to all transactions. If tampering or unauthorized use is detected, the software’s notification system pings all authorized parties instantly, often rendering the tampered document null and void in the process. Thieves get locked out, the good guys get a call, and your information remains safe, secure, and right where it should be.
Speaking of authorized users, e-signature software is designed from the ground up to provide your business with state-of-the-art identity verification for all authorized users. Similar to how payroll software might incorporate special access verifications, your e-signature software includes a number of standard methods to ensure all users are who they say they are. Signers must enter their email addresses, which are then compared against the email address used for the document invitation.
Likewise, businesses/senders of the document can send one-time passcodes that signers must enter for access. Taking things further, other methods, such as phone calls, SMS verifications, knowledge-based questionnaires, and ID verification typically come standard, and each can be used in conjunction with one another to validate user authenticity.
Accurate Audit Records
Another way that e-signature software works to secure your business is through the electronic records that becomes imprinted on your documents each time those documents are used in conjunction with the software. Any and all changes or actions are tracked, including details of when your documents are opened, when they are viewed, and most importantly, when they are signed.
As a special bonus, some e-signature software comes pre-equipped with geolocation settings, meaning that signers can authorize the use of their worldwide location upon signing as an extra measure of authenticity. Should any questions, concerns, or disputes about the transaction occur, this audit trail remains 100% available, and 100% transparent to all users. Disputes are handled much more quickly, and concerns can be addressed on the fly, with all necessary information on standby.
Compliance and Certifications
Last but not least, e-signature software naturally grants your business full compliance with applicable laws, regulations, and industry standards regarding digital transactions and electronic signatures including HIPAA and 21 CFR Part 11, along with compliance for rules from the IRS, FTC, FINRA, and the FHA. Your business stays up to date, legally squared away, and your security management processes gain a much-needed boost.
Wrapping It Up
So, there you have it – our surefire method on how to secure your business with e-signature software. As for our pick on where to start looking, we recommend ArcSign by Archarina! Save time and money through an easy-to-use interface that makes collecting client signatures fast and easy.
Gone are the days of having to negotiate an inconvenient time and place to meet with your clients. ArcSign helps you efficiently manage and track all your documents, ensuring you never miss an important piece of information. Likewise, because e-signed documents are time-stamped, with the date and the signer’s IP address on file, your documents become digitally fingerprinted, with legal security that automatically holds up better in court. Enjoy better security for your key information, and learn more about how ArcSign can help with your free demo!