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Digital Signatures and E-signatures: Enabling Digital Processes
Malcolm McLeod, handwriting expert, said that “signatures are like your mark, your authority in the world, they represent you. They’re your corporate logo, they’re your branding.”
But the increasing volume of electronic documents makes standard handwritten signatures time consuming and difficult to manage. Increasingly e-signatures and digital signatures are being used to mark an individual’s approval of documents.
An e-signature is any graphic that replaces the normal handwritten signature that indicates approval. Digital signatures take e-signatures one step further to include encrypting the data being approved. Today’s digital signatures are based on Public Key Infrastructure (PKI) and require the use of certificates that enable unique identification of the person creating the signature. Digital signatures guarantee the signer’s identity and ensure the integrity of the data being signed.
The benefits of e-signatures and digital signatures are convenience, speed and reduced costs. Electronic signatures are easily emailed and stored and reduce the need to convert electronically created documents into paper.
Tim Sheedy, Forrester consultant, said that “over 90% of the companies believe that an eSignatures solution can save up to 15% of operating cost. Most companies are looking to invest in eSignatures solution in 1 to 2 years time.”
