Electronic signature software has been around for a while, but only recently has it started to really take off. Thanks to the fast-growing popularity of email and online correspondence, you can now easily send a signed contract with your mouse click instead of waiting on the post office to deliver it or hand-delivering it yourself.
This is certainly convenient, but do you know how this signing process works? Do you know what must be in place before sending an electronic signature? If not, then read on to learn about the benefits of electronic signatures and how they can help keep your business secure.
What is an electronic signature?
An electronic signature is a process in which an individual digitally signs or authorizes the signing of a document using a computer. It’s a secure and reliable way to sign a document. In fact, electronic signatures are a very important tool to help protect your business. They can help prevent fraud and ensure that all of the proper agreements are in place before you make a deal.
Why use an electronic signature?
Electronic signatures are convenient because they allow you to sign documents from the comfort of your own home or office. With electronic signature software, you can easily share with others what you’ve signed and have them sign off on it as well. Your signature might need to be notarized for legal reasons, but with an electronic signature, it’s easy to share digitally and still maintain your privacy.
How does an electronic signature work?
Electronic signatures work by using an algorithm to convert a traditional signature into a digital one. In order to send a digitally signed email, you must have access to your own private key. This key is kept secret and only used by the business that owns it. Then you’ll use this private key to sign the document and the recipient will receive the signature with their own private key. You’ll then use their public key to compare against your own public key on the document and make sure they’re authentic.
This makes it easy for recipients of your emails to know who sent them, as well as knowing that you are who you say you are. It also makes it difficult for others to forge your signature or impersonate your company in any way, which can be very damaging in terms of reputation management.
The importance of privacy and security with your business
An electronic signature makes business processes more efficient, but because it offers increased convenience, it also exposes your business to greater risks. While using an electronic signature is easy and convenient, you need to make sure that your privacy and security are not only addressed but also taken into consideration.
The recent data breach at Equifax is a prime example of how one company’s failure to implement proper security measures can have major consequences for other companies. One of the most important aspects of the Equifax breach is the fact that it was possible due to their lack of updated digital security.
So what does this mean for your business? It means you should always be on top of protecting your company and its customers with updates in technology, including updating or adopting an electronic signature software solution.
When it comes to protecting your business from a data breach or identity theft, a digital signature must be considered part of the process. More specifically, if you’re going to use an electronic signature software solution, make sure to do so in collaboration with other necessary technologies like encryption and password protection programs as well as multi-factor authentication options.
Conclusion
Electronic signature software can help you keep your business secure and private. In order to protect your business, it is important that you know how to use an electronic signature in conjunction with your company’s existing software.
