In the current era of pandemic where the world has turned to digital, business must go on as usual. Companies need to execute documents, agreements, contracts etc., which was hitherto done personally or face-to-face. With social distancing and people restricting their travel and meet-ups, electronic signing is the best and most viable alternative to paper signatures. It not only reduces time but also increases sustainability and provides the best of traceability and identity. eSignatures are here to stay forever and shall replace manual wet ink signatures entirely soon

What is an electronic signature?

An electronic signature is any document that has been signed electronically. An electronic signature is a signature made by a person electronically through any electronic signature application like CryptoESIGN. Several countries have enacted laws that support eSignatures as valid signatures, like paper-based signatures done with wet ink. Besides supporting the fundamental legal requirements, it is now being embraced widely by the corporate world. Many industries such as financial services, real estate, retail, insurance, and many more use eSignatures today. With pandemic, even small and medium enterprises (SME) have started using eSignatures to execute contracts and agreements with business partners

Why does the need to sign electronically exist?

E-signature has existed for a long but has been integrated with electronic document management and control systems. Today it is used for more than half of the paper documents in the USA and Western Europe. In Asia, it is increasingly accepted and is becoming a norm as well. India Inc. is essentially adopting eSignatures to reap the benefits of efficiency and time. eSignatures are mainly used for commercial applications. They are used to approve documents or contracts, authorization and approvals for purchases, sign purchase orders, job applications, training, and other business functions.

Why is it so crucial for business?

The electronic signature is growing tremendously. Due to the benefits associated with e-signatures, there are more and more businesses that are using this effective form of legal document signing. Electronic signature is an internationally accepted legal document. This is because the signing authority can audit the signature and authenticity with a high level of trust. Traditionally, signing a paper contract is an expensive and time-consuming process. However, the easy management of e-signatures makes the process simpler and better for everyone. It is easy to share the signed document with all the authorities and ensure that everything is in place.

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