It used to be the only way to demonstrate consent on a contract was via a handwritten ("wet") signature. That meant the closing of multi-party transactions required extensive coordination to bring the right people into the right room, at the same time. Luckily, electronic signatures (e-signatures) have been legally enforceable under the U.S. law since the year 2,000. In the intervening two decades, more than 60 other countries have passed similar laws that give electronic signatures the same status as handwritten. These include Canada, the U.K., and all the countries that are part of the European Union.

Nevertheless, two decades later, e-signing is not yet ubiquitous. Here is why it should be:

E-signatures mean you can sign off anywhere

Transacting business shouldn't require airline travel, hotel accommodations, or day-long in-person meetings. There's already been significant movement in that direction. We already propose and negotiate contracts over email. It stands to reason that when we are ready to finalize an agreement, we should be able to do so electronically as well. Many contracts even go so far as to specify that the geographical location where one signs off will not go into determining which laws govern the transaction. In addition, coupling electronic signatures with digital signature technology (discussed below) may even have the power to eliminate the need for signature notarization in certain transactions.

E-signatures are not just for business

Electronic signing is crucial to take businesses to a seamless, global level. It can also be a game-changer for non-business transactions. For example, when you have forms to sign, an e-signature platform enables you to upload and sign PDF-format forms without ever printing a page or uncapping a pen. With Exela's e-signature platform, DrySign, you can even store those forms for future reference as well as for record-keeping purposes. You can start a free trial of DrySign here.

E-signatures transcend legacy systems

It's well-known that legacy systems present challenges to digital transformation efforts. One of those challenges is the lack of interoperability between/among platforms. Electronic signature platforms that enable you to upload and sign documents from disparate systems and sources (such as DrySign) have the power to transcend legacy systems. If a document can be put into PDF format, it is e-signable with DrySign.

E-signatures have the power to enhance security

When you sign online, it is called an electronic signature (or e-signature). Electronic signatures provide a higher level of security than handwritten signatures simply by virtue of how they are accessed - through closed systems that require credentials.

Some electronic signatures go so far as to encrypt the document on which the signature is affixed with digital codes that are as difficult to duplicate as, say, a fingerprint. Those electronic signatures are known as "digital signatures" and are more secure than other electronic signatures. Some countries have strict laws that require digital signature technology as a prerequisite for e-signing.

Exela's DrySign has this capability powered by digital signature technology, making an end-to-end transaction of business possible, regardless of the countries in which the signatories are located.

In the coming weeks, we will be talking a lot more about e-signatures, including all the reasons you will want to adopt e-signatures in your business and in your life.

Considering Digital Transformation in Pandemic Times? E-Sign with Exela’s DrySign

The Rapid Adoption of Digital Transformation and the Role of Electronic Signatures

Embracing digital infrastructure is the need of the hour for every business. Gone are the days when digital additions to your everyday operations were just to look modern, competitive, and adaptive. In the present COVID-19 driven scenario, digital transformation and ensuring business optimization is a must. However, it is equally important to understand the challenges and leverage opportunities that come with the adoption of digital transformation. Successful implementation of this transformation demands careful planning and effective ways to overcome the probable risks, such as regulatory compliance and data breach, and allow faster yet smooth business integration with better customer experience at a reduced cost. An electronic signature is one of the quickest ways which businesses can adopt in this regard.

How Do You Know when an Electronic Signature is Valid?

The following graphic illustrates the critical requirements for the e-signature to be considered valid.

Benefits of Electronic Signatures

The electronic signature technology supports the digital initiative with the following benefits:

• Provides error-free and systematic workflow option for users
• Better Return On Investment with no requirement of the cost and time to be spent on paper documents
• Improved customer experience with no dependency on scanners or printers
• Availability as a single unifying service across the entire business processes irrespective of workflow and location

Also read: Why it’s time to DrySign 

What Happens After the Document is Electronically Signed?

Interestingly, the capturing of a signature electronically is just one aspect of an eSignature solution. It is quintessential to consider the downstream scenario or rather the treatment of the electronic document once signed. This is what Exela’s smart eSignature platform, DrySign, offers, and keeps us at par with our competitors. Exela’s DrySign provides the blend of the above-mentioned benefits, along with the effective treatment and secure storage of documents post electronic signatures as explained below.

DrySign is Fast, Simple and Secure

DrySign lets you create your custom signatures and allows you to sign documents with a single click or trace while ensuring the highest security using industry-standard encryption. You can also set a priority order for signatories; the document is sent for signature to each person as per the required level of hierarchy, using the “Group Sign” feature. The availability of template features allows the department-specific creation of documents to be electronically signed. The easy-to-use UI makes it effortless to prepare large documents such as service agreements or procurement forms for signatures, using a drag-and-drop feature, which lets you place signature fields in the correct place. 

Choose Exela’s DrySign for E-Signing
 

• If you are looking to experience the power of paperless document processes with enhanced workflow efficiency
• If you want to transform your business digitally without having to make drastic changes to systems or software with options to sign from anywhere, any device, at any time
• If you want to empower your business to go truly paperless taking your document management processes online
• If you are willing to modernize your work culture in the work-from-home scenario
• If you want to get rid of unorganized documents and want systematic storage of your documents in a central online repository for easy and increased accessibility
• If you are looking for effortless document tracking and retrieval
• If you want to strengthen your document security

DrySign does all of the above for your document processes and much more.

Give it a try for free!

Exela constantly aims to change for the better in the field of technology and is breaking the anomaly of using paper while opting for paperless transactions.

E-signature platforms are taking the business and consumer world by storm, with the current market size of $3.4 billion and growth expected to reach $5.5 billion by 2023*. Electronic signatures have been recognized by law in the US since 2000. One of the ways that Exela is going paperless is by globally using our proprietary eSignature platform ‘DrySign’.

• Reduced Turnaround Time
• Location Agnostic
• User Friendly
• Augmented Security
• Easy Third Party Amalgamation
• Environmental Sustainability

Exela’s Five W(s) that makes us stand different

What:

DrySign is a cloud-based electronic signature platform that helps businesses make document execution a paperless process. Signed documents are digitally archived and are easy to search and retrieve.

Who:

Signing documents is a dime a dozen in all the businesses. DrySign can be used by individuals, large scale and small scale organizations from different verticals such as Banking and Finance, Healthcare and Insurance, Public Sector, Legal, Manufacturing, and Retail.

When:

With the ongoing COVID-19 pandemic, now is the time for a change, and with contactless document processes businesses can stay safer during this crisis. DrySign is one of the mediums which help organizations reduce their business dependency on paper-based practices.

Also read: Seamless Remote Work with Electronic Signatures

Where:

Drysign can be used to remotely sign, access, manage, and send documents from any device, anytime and anywhere.

Why

• Reduced Turnaround Time: Request to sign and signed documents shared faster than ever
• Location Agnostic: Sign documents anytime, anywhere in real-time
• User Friendly: Easy-to-use and adaptable
• Smooth Amalgamation: Integrates with a wide range of third-party systems/software
• Environmental Sustainability: DrySign takes paper and ink out of the closing equation. Not to mention the indulgence of postage, printers, toners, and printer maintenance reducing the waste.
• Augmented Security: Digital-signature-enabled electronic signatures reduces the possibility of forgery and other forms of fraud.

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DrySign- Where businesses feel secure

In the digital age, impersonation and cyber-crime are a hidden menace to the growth of businesses across the globe. Trust, once broken, often results in organizations resorting to the old school of thought of physical signatures that are reliable and can be mapped to a trusted source. With electronic signatures, cyber-crimes involving identity theft and personal data breach are generally performed by attackers to sabotage operations. 

So, how do we establish a cyber-proof electronic signature platform, which is not vulnerable to our ever-increasing population of attackers equipped with tools like malware, to name a few?

Our software architects have thought this through while designing DrySign, our secure signing, and document archiving platform. Documents on DrySign are encrypted using 256-bit encryption, which validates signer authentication, non-repudiation, document integrity, and time-stamping. A complete audit trail of all stored documents ensures compliance with legal and regulatory requirements. 

Also Read: Ink Sign to DrySign - For the Spirit of Kaizen

DrySign is a standalone product sold as a cloud-based software-as-a-service (SAAS) product. As such, the architecture platform does not require internal deployment, which can prevent malicious attacks at an organization’s network layer or the application layer where the server and database are hosted. A secure, electronically signed document is the final service deliverable. All signing components are hosted and maintained by Exela. There is no hardware investment or maintenance, and no internal cryptographic required.

During the Covid-19 pandemic, where working from home has become the “new normal,” several large, medium and small-sized businesses are willing to explore an innovative and trusted platform to accelerate decision making and execute plans with minimal red-tapism. 

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Given the current pandemic situation, it has become even more important for companies to switch to digital modes for various approvals and office workflows. Out of the endless list of must-have tools in the face of business disruption, an electronic signature solution has quickly started to become one of the top tools for companies to continue their day-to-day operations without roadblocks.
Here are 10 compelling reasons why you need to integrate your document processes with an eSignature solution:

1. Document Security

   The Internet has made working online and e-signing documents really easy, while ensuring that the document doesn’t change multiple hands. The application can be configured to ensure that not everyone can make a copy of the document, and ensure that the document reaches the right person only.

2. Cost-Effective

   Not only the application will have a one-time implementation cost, but you will also save on the cost spent on ink, printers, paper, and the maintenance that goes with it.

3. Convenient

   These days, all the web applications come with responsive designs, making them easily accessible on various devices like tablets and phones. Thus, letting the end-user quickly access and approve/sign any document on-the-go.

4. Faster Turn-around-time

   You no longer have to wait for those postal mails to be delivered to your office/home, or wait for that one person to sign the document and return it. The electronic medium and customized workflows will automatically send the documents to the right person.

5. Signature Verification

   eSignature applications come with a unique functionality where you can get your signature verified. This becomes a one-time activity, making the process simple and intuitive.

6. Digital Signatures are Legally Binding

   In the United States, the UETA (Uniform Electronic Transactions Act) of 1999 and the ESIGN (Electronic Signatures in Global and National Commerce) Act of 2000 have made electronic signatures valid and legally binding (with a few exceptions). Most e-signed documents are valid, enforceable, and can be submitted as evidence in court.

7. Environment Friendly

   By reducing the utilization of paper, ink, and other raw material, you are supporting the environment in making it plastic-free and help reduce the cutting of trees.

8. Detailed Legal Record

   Since all the documents are available in electronic form, it gets easier to search related documents and helps save time and effort. This is, versus a situation where one has to go through several hard copies of the documents to find any related information.

9. Delivering Better Customer Experience

   One of the hallmarks of a good application is making sure your customers get the best user experience. With a simple and easy-to-use interface, you get a holistic package that ticks all the right boxes while providing a pain-free experience and enabling quick response.

10. Contactless experience

    Given the current times, an electronic signature application will help facilitate your efforts towards making your processes more contactless. Thus, safeguarding the health interests of your employees as well as your customers’.

With DrySign's electronic signature platform, you can seamlessly manage your document processes remotely.

Experience smarter signing for free

Upon hearing the term ‘digital signature’ or ‘electronic signature,’ it is easy to assume that it is a recent addition to the list of sudden technological leaps. However, the COVID-19 pandemic has only emphasized the significance of it. The idea of a digital signature has been around for quite a long time. The notion of electronic signatures was first suggested in 1976 by American cryptologists Whitfield Diffie and Martin Hellman. Their research paper 'New Directions in Cryptography' presented concepts like public-key cryptography and digital signatures.
 

RSA Algorithm: The first instance of digital signature to be practically implemented

In 1977, Professor Ronald Rivest, Adi Shamir – an Israeli cryptographer, and Leonard Adleman – an American Computer scientist, came up with a cryptosystem called the RSA algorithm (Rivest - Shamir – Adleman algorithm). This algorithm used prime numbers, modulo operations, digital signatures, and much more to transmit data securely. This was the first rudimentary instance of a real-life digital signature being attached to an electronic message. Although this was relatively slow, Leonard Adleman received the Turing Award in 2002 for this algorithm.

Lotus Notes 1.0 – A groundbreaking product

Right after RSA, many companies started building solutions based on the algorithm to make digital signatures easily available. The first widely marketed software package which included a digital signature was the Lotus Notes 1.0. Back in 1987, Lotus bought the rights to notes, and the first release was shipped. Sheldon Laube, the CIO of Price Waterhouse, was instantly sold at the notion of such a radical solution. So much so that he bought 10,000 copies. This was considered as the biggest sale of a single software product. In 1995, IBM purchased Lotus to acquire the Notes technology.

The ESIGN Act and ISO 32000

By 1999, digital signatures were floating around and were embedded in PDF documents. In 2000, President Bill Clinton passed the Electronic Signature in Global and National Commerce Act (ESIGN). With this act, the government established that digital signatures would carry the same legal value as a traditional signature. Thanks to this legislation, products like DrySign stand as a secure and legitimate channel for digitally signing documents.

In 2008, ISO 32000 makes PDF a standard format and includes digital signatures as an integral part of the format. Ever since it has been the primary tool to get documents signed over the internet.

Also read:

1. Signing on the Dotted Line? Go for E-Signatures!
2. DrySign Freemium has Arrived – Here’s Everything You Need to Know

Conclusion:

Today, digital signatures have established firm roots in almost every sector. Hiring in this lockdown has been more comfortable and convenient, thanks to digital signatures. Many people working from home have been using a digital signature to simplify the process of exchanging signed documents. Considering the tight security measures provided by digital signature solutions like DrySign, this major paradigm shift has become permanent. Litigation and finance firms processing countless signed documents have experienced an exponential rise in productivity with such radical solutions. Looking back at the booming era when such a digital solution was created and what it has evolved into, the future of document signing and processing appears to be promising.

References:

History of digital signatures: https://www.signix.com/blog/bid/108804/infographic-the-history-of-digital-signature-technology#:~:text=1977%3A%20Ronald%20Rivest%2C%20Adi%20Shamir,kind%20of%20primitive%20digital%20signature&text=1999%3A%20The%20ability%20to%20embed,makes%20digital%20signatures%20legally%20binding 

RSA Algorithm: https://www.sccs.swarthmore.edu/users/10/mkelly1/rsa.pdf

History of Lotus Notes 1.0: https://www.ibm.com/developerworks/lotus/library/ls-NDHistory/ls-NDHistory-pdf.pdf 
 

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A wide array of features and functionalities for no charge makes DrySign a hard-to-refuse package

The recent pandemic has not been kind to the world, but there is a silver lining here. We have been pushed to come up with smart solutions and forcefully digitize manual tasks. It was the nudge that has resulted in many paradigm shifts recently. One might think the idea of a digital signature is one of them, but the truth of the matter is that the concept of electronic signatures has been around for a while. What has been missing is a comprehensive package that ticks all the right boxes and goes beyond a conventional digital signature solution.

That’s where DrySign comes into the picture. It is a holistic approach towards procuring signed documents over the internet. And now it is available in a freemium1 version!
Be it supply chain management, banking, education, hiring, manufacturing, or any other domain, the need for signing documents never goes down. What might go down is the cost, effort, and time required to manage the cumbersome process. With DrySign, dispose of the tedious manual cycle of obtaining signed documents and with the freemium version, you can choose to get started for free. Unshackle your business from all the bottlenecks and obstacles which take a toll on operational efficiency.

Enjoy a long list of freemium features and witness the difference.

• 5 Documents/Month
• 1 Template/Month
• Self-sign
• Group Sign
• Signatures: Type, Draw, or Upload
• Document Tracking: Notify, Remove, Reassign
• MFA & Verified by a Trusted Certification Authority
• Audit Trail with Time stamps
• Upload PDF using Google Drive
• Upload PDF using Dropbox
• Upload PDF using OneDrive
• Google Sign In

1Restrictions apply

Go contactless and paperless while saving real-time money with DrySign freemium. Image a scenario where you must send signed documents to a different part of the world; the shipping charges alone are significant. Be it any sector, getting secure and verified signed documents is tied directly to customer experience quality. In industries like banking, legal, and finance, paperwork is the lifeblood that directly impacts customer satisfaction levels. By cutting down the turnaround time of one of the most tedious processes in the chain, the company focuses on its core functionalities and provides the best customer experience.

Also Read: The Business Benefit with Electronic Signatures: Use Cases for Your Industry

Why should I consider using DrySign freemium

Implementation of DrySign is undoubtedly a big step, but it’s a step in the right direction. And when it’s free it’s even better. Take a look at why you should start signing with DrySign:

1. Digital Signatures are legal

   The Electronic Signatures in Global and National Commerce Act (ESIGN) is a federal law that states that an electronic signature may not be denied legal effect, validity, or enforceability solely because it is in electronic form.

2. Secure like a fortress

   DrySign has state-of-the-art security measures in place to prevent document access by unauthorized users or users, making a copy of sensitive information.

3. Convenience factor

   Being a web-based application, it is accessible from virtually any internet-enabled device.

4. Reduced hardware requirements

   Eliminate the dependency on scanners and printers to get the documents signed. Also, by doing so, go green and stay a sustainable business by saving paper by saving paper.

Transform your company’s administration, get started with DrySign for free today!

1 Restrictions apply.

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Digital transformation is changing the way the world interacts and conducts business. Consistent with this trend, Exela is excited to introduce ‘DrySign,’ our convenient and secure electronic signature platform.

• No paper or printer required: DrySign is an electronic signature solution to draft, execute, and administer contracts – anytime, anywhere, from any device
• Signatures at the speed of light: Enables contract finalization in real-time, eliminates delays from printing, overnight shipping, and interoffice delivery
• Rethink the cost of paper and ink: Eliminates postage, printers, toner, and fleet maintenance costs
• Seamless integration, secure storage: Easily integrates with corporate solutions as well as third-party products supporting electronic signatures. Executed documents and documents in the process are stored in the cloud – securely archived and fully searchable, no physical storage is needed

DrySign – Benefits – General 

DrySign saves time and resources:

• A complete audit trail enables search and download on-demand via continuous e-document cloud storage
• DrySign is a digital transformation tool supporting complete paperless transactions. It is an environmentally friendly option that eliminates costs while being a sustainable solution
• Multiple signatory capability improves the speed of finalizing contractual agreements
• DrySign’s 256-bit encryption ensures user security worldwide
• DrySign easily integrates with other products requiring an electronic signature

DrySign – Benefits – Technical Phrasing

• Reduction in OPEX (operational expenditure)
  • Paperless signatures save logistic, paper, and printing costs
  • No need for file cabinets or additional capacity to store paper
• Reduced Business Risk
  • Secure signing and document archiving
  • Documents are stored electronically with a complete audit trail
  • Search and download executed documents
• Accelerated Processes
  • Fast and effective signature execution
  • Location agnostic, digital experience
• Increased Efficiency and Productivity
  • No need to manually print and sign documents
  • Eliminate time spent manually tracking and following up

Also Read: Where Businesses Feel Secure and Guarded  

DrySign – Compliance
DrySign provides a compliant electronic signature technology that assures signed documents are legally binding.

• DrySign adheres to industry and regulatory standards, such as:
  • US ESIGN
  • UETA (Uniform Electronic Transaction Act)
• Cloud-Based Service: All signing components are hosted and maintained by Exela. There is no hardware investment or maintenance, and no internal cryptographic required.

Try DrySign for free now!

Signatures play a pivotal role in our lives. Signing your name on to a covenant not only binds you to adhere to it but also symbolizes your acknowledgment. Apart from a signature's legal significance, there is a quirky branch of science dedicated to finding out the deeper implications of signatures. Signatures tend to reflect some traits of the person who signs it. Some of the most legendary people in the world have some of the most distinctive signatures.

Let’s check out few of the most iconic signatures of all times:

1.Pablo Picasso:

This artistic signature reflects the creativity of a man whose first word was 'pencil.' Pablo Picasso was formally schooled in arts since the age of 7 by his father, Ruiz Blasco. By the age of 13, Pablo Picasso had surpassed his father, which made Ruiz give up painting. Despite being a great artist, he was a terrible student. He was frequently thrown into detention because of his royal ignorance towards instructions given by teachers.

2.Walt Disney:

Walt Disney's signature is as quirky and eye-catching as his work. His first iconic cartoon character was Oswald, the lucky rabbit, which he created under contract with Universal Pictures. Since the studio owned Oswald, the lucky rabbit's rights, Walt Disney created the beloved Mickey Mouse after leaving Universal Pictures.

3.Buzz Aldrin:

This beautifully embellished signature of Edwin Eugene Aldrin Jr. reflects his view of outer space. His iconic nickname "Buzz" came from his sister Fay Ann. While growing up, she would often call him "buzzer," which was her way of pronouncing "brother." His relatives shortened it further down to "Buzz," and by the 1980s, Edwin Aldrin had officially become Buzz Aldrin.

4.Bruce Lee:

The strokes in his signature reflect his precision and agility for which he is known for. A fact that might be little known about Bruce Lee is that he was partly German. His grandfather was a purebred German catholic, making it really difficult for him to secure his place in some of the top Kung Fu schools.

Also Read: DrySign Freemium has Arrived – Here’s Everything You Need to Know

5.Albert Einstein:

Albert Einstein’s signature focused more on his last name, which is interesting because he renounced his German citizenship. After the first president of the State of Israel, Chaim Weizmann died in 1952, the Prime Minister asked Einstein to step into the role. He turned it down as he felt he lacked experience to deal with people.

6.Michelangelo:

The artistic signature of Michelangelo looks more like a fine piece of calligraphy. Even when he was 74 years old, the Catholic Church summoned him to assist them in completion of St. Peter’s Basilica. He worked for 14 years, supervising the construction and sending designs to the foreman.

7.William Shakespeare:

This highly articulated signature perfectly encapsulates one of the most influential writers in human history. William Shakespeare is the second most quoted writer having written one tenth of the most quoted lines ever spoken or written in English.

8.Rabindranath Tagore:

This enigmatic signature belongs to an equally enigmatic mind. Rabindranath Tagore was one of the most brilliant minds of India with some of the most prominent achievements. He was knighted by King George V for his work in literature which he renounced after the Jallianwala Bagh massacre in 1919.

9.Elon Musk:

This time-efficient signature belongs a genius, billionaire, and philanthropist. Elon Musk developed a game called “Blastar” at the age of 12 and sold it $500. He even purchased the submarine car which was featured in the James Bond movie “The Spy Who Loved Me”.

10.Kobe Bryant:

This legendary American basketball player grew up in Italy and had fans all over the world. His parents were particularly fond of a Japanese delicacy called “Kobe Beef,” so much so that they named their son after it.

11.Queen Elizabeth II:

This royal signature belongs to the monarch of the United Kingdom and other Commonwealth realms. Queen Elizabeth II was the first female member of the royal family to join the armed forces. She joined the Auxiliary Territorial Service during the Second World War.

12.J.K. Rowling:

This signature belongs to the famous author J.K. Rowling. She was the first person to become a billionaire solely by writing books.

13.Amelia Earhart:

This signature belongs to the first female pilot in the world. Her birthday, 24th July, is celebrated as Amelia Earhart day to commemorate her adventurous and intrepid spirit.

14.Oprah Winfrey:

This articulate signature belongs to one of the most influential women in the world. As a child, Oprah used to recite Bible verses during her visits to the church. As a result, she has been nicknamed ‘the preacher.’

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References:
Bruce Lee facts: https://www.scoopwhoop.com/inothernews/bruce-lee-facts/
Buzz Aldrin facts: https://www.portablepress.com/blog/2015/07/6-world-facts-buzz-aldrin/
Pablo Picasso facts: https://www.pablopicasso.org/picasso-facts.jsp
Walt Disney facts: https://www.inc.com/larry-kim/31-surprising-facts-about-walt-disney.html
Albert Einstein facts: https://www.nationalgeographic.com/news/2017/04/einstein-facts-science-genius/
https://www.mentalfloss.com/article/573985/albert-einstein-facts
Michelangelo Facts: https://www.walksofitaly.com/blog/art-culture/interesting-facts-about-michelangelo
William Shakespeare facts: https://www.nosweatshakespeare.com/resources/shakespeare-facts/
Rabindranath Tagore facts: https://collegedunia.com/social/160-10-lesser-known-facts-about-rabindranath-tagore-which-show-his-prominence
Elon Musk facts: https://indianexpress.com/article/technology/social/elon-musk-tesla-spacex-things-you-probably-didnt-know-about-5711268/
Oprah fun facts: https://www.inc.com/larry-kim/18-bizarre-facts-about-oprah-winfrey.html
Amelia Earhart facts: https://www.ducksters.com/biography/women_leaders/amelia_earhart.php
Queen Elizabeth II facts: https://www.harpersbazaar.com/celebrity/latest/g22677524/queen-elizabeth-facts/
J.K. Rowling facts: https://www.thefactsite.com/j-k-rowling-facts/

Unlike other industry verticals, most of the operations of the legal sector are neck-deep in paperwork. Preparing, printing, scanning, emailing and following up on agreements & notices shackle and severely limit the operational capacity of legal firms. Relying on manual methods in the digital era means risking your customer base because of slow turn-around times and complex processes. Looking at the saving potential and the dire need for digitization, digital signature solutions like DrySign enable law firms by accelerating the processes, reducing costs, and providing better security measures.

Combating the inefficiencies caused due to traditional methods with digital countermeasures should be one of the top priorities. Given the competitive landscape of the market, where the spotlight is on providing value and quality service to the customer, digital signatures eliminate the need for the customer to come to office premises and physically sign the documents. This puts the company ahead of the curve and ensures the client's fidelity towards the firm.

Digital signatures make operations faster, more efficient, and secure for delivery of legal services like:

1. Insertion Order
2. Copyright Notice
3. Patent Application
4. NDA
5. Cease and Desist Letter
6. Litigation Notice
7. Corporate Mergers & Acquisitions

Also read:

1. DrySign Freemium has Arrived – Here’s Everything You Need to Know
2. The Business Benefit with Electronic Signatures: Use Cases for Your Industry

Digital Signatures as a part of System of Agreement:

The term System of Agreement or SofA refers to a collection of software or a software suite that helps a company manage agreements. In law firms where the system exists in various manual fragments, there lies a high probability of inconsistencies that might result in redundancies, errors, or other operational costs. To avoid such hurdles, a modern System of Agreement connects the entire spectrum of the agreement management process end-to-end. The four fundamental pillars that constitute the system are:

1. Prepare
This stage involves the drafting of the agreement and seeking the necessary approvals through a specific workflow.

2. Sign
Once the agreement is drafted and approved, it must be signed via legit, secure, and robust digital signature solutions like DrySign that provide tracking, storage, and concrete audit trails.

3. Act
This phase involves updating the system with the agreement status, collecting the payment, and initiating internal company procedures as specified in the agreement.

4. Manage
In this step, the document is stored online in a digital repository for easy retrieval.

When we look at the process carefully, it is apparent that implementing a digital signature solution like DrySign not only takes care of the signing and managing stages but also facilitates the acting stage as it can be easily integrated with other central ERP systems. This system proves to be ideal for the B2B sector because of the highly fertile ground for corporate alliances and mergers where multiple organizations, including law firms that come together to work in tandem.

Conclusion:

Looking at the volume of signed documents that flow through the legal sector, it needs a smart alternative more than other verticals. It can be said with absolute certainty that the tide of digital transformation is going to keep on rising, and the legal sector can make the most out of it, starting from digital signatures.

Source: https://www.revv.so/blog/sales/know-about-system-of-agreements/

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