Digital Signature Software - 6 Questions You Didn’t Think to Ask
Digital signatures have been around for a while and continue to evolve. Looking at the growing usage of e-signatures, just in 2020, the global digital signature market size touched $2.8 billion! If you have been considering investing in digital signature software, you may have some questions in mind, and understandably so. Investing in new tech can be a daunting proposition, and that is why it’s always a good idea to test the waters before jumping right in! Besides, some additional research always pays off. So before you start your homework, here are six questions you might miss out on asking.
Are digital signatures and electronic signatures the same?
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. To know more, check out the differences between digital signatures and electronic signatures.
Is it secure?
Digital signature solutions are practically 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.
What happens to my documents after I sign them?
This is the best part of using digital signature solutions. Applications like DrySign offer online document storage, eliminating the fuss of storing and preserving critical signed documents and all the costs associated with it. 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.
Is it legal?
Digital signature solutions like DrySign are compliant with various regulations like the Electronic Signatures in Global and National Commerce Act (ESIGN) and the Uniform Electronic Transactions Act (UETA) that grant digital signatures the legality required to sign documents online. The software’s ability to associate the signing parties to the document and maintain the document’s integrity are some of the factors that grant it legitimacy.
Also read: Guide to Going Paperless with DrySign
What kind of documents can I sign?
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.
What kind of savings can I expect out of digital signature solutions?
In the longer run, you can save up to $20 per document using digital signatures. When you digitize your entire document signing workflow, you can expect huge savings in time, infrastructure, and a barrage of hidden costs that add up to a significant amount over time. Among business users who have been using digital signatures, 81% have experienced ROI in a 12-month budget cycle, while 25% have experienced it within three months.
Now that you have the basics cleared, you can now lay the foundations for a smarter, faster, greener, and efficient tomorrow using digital signatures.