Different Types of eSignature Technologies Available
eSignature capabilities allow organizations to request, sign/remind, and send documents for signature faster than ever. This helps eliminate the delays associated with pen-and-ink signatures.
However, not all eSignature technologies are created equal. Institutions must determine the right balance between cost and risk in their document signing workflows. Depending on your decision framework, you might choose to use different types of digital signatures: a) Basic eSignatures, b) Advanced eSignatures and c) Qualified eSignatures.
Simple e-signatures (SESs)
With eSignature technology, signing documents has never been easier. Gone are the days of shipping stacks of paper back and forth through snail mail or juggling scheduling conflicts to get an impossibly busy executive to sign your procurement contract. E-signatures make it possible to sign contracts, agreements and other documents from any device with an internet connection. This convenience saves time, money and resources and can reduce a company’s vulnerability to fraud.
But not all eSignatures are created equal. There are different types of eSignature formats, each designed for specific scenarios and security requirements. The most basic – and least secure – is the simple electronic signature (SES), which simply applies a typed name or other digital reproduction of a signature to a document. SESs are easy to forge and not suitable for documents that require a high level of security or compliance standards.
More secure esignature are Advanced e-signatures (AdESs) and Qualified e-signatures (QESs). AdESs require some form of identity verification to be applied to a document, such as photo ID, password or biometric identification. The most secure is the QES, which requires the signer’s identity to be verified by a third-party trust service provider through face-to-face identification or video call. The QES is suited to highly regulated transactions like financial documents or contracts. The three different formats are regulated by the EU’s eIDAS regulations, which defines different levels of assurance for each format.
Advanced e-signatures (AdESs)
In contrast to SESs, which are linked to specific signers but don’t offer legal protection in the event of fraud or tampering, an advanced eSignature is clearly and uniquely tied to the signature creator, enabling identification. This means that if the signer tries to repudiate the document, or if it’s modified in some way, that can be detected.
These types of eSignatures are typically used when companies need some level of visibility and documentation across authenticity, identity, authentication and integrity. Most often, these are used for documents that require a higher level of security such as multimillion dollar contracts or government access to records and services.
To get the most out of your eSignature solution, it’s important to weigh the level of security you need with affordability and ease of implementation. Often, the best option is to use different signature solutions for different processes. For example, many educational institutions choose to use SESs for a variety of low-security signing scenarios such as collecting student signatures on field trip attendance forms while reserving QESs for more sensitive or high-stakes documents. This allows you to optimize your eSignature technology for your unique needs while providing the highest levels of security for high-stakes transactions. This is why it’s a good idea to work with an experienced provider who can help you identify the right solutions for your business needs.
Qualified e-signatures (QESs)
If you need to sign highly sensitive or legally significant documents, your company might require the highest level of security available in the form of a Qualified E-Signature (QES). These signatures are defined by eIDAS regulations as those that are “based on qualified certificates for electronic signature” — meaning that the signature creation data must be stored on a device that’s been verified as secure.
This could include a smart card, USB token, or hardware security module (HSM) that’s been certified to FIPS 140-2 Level 3 at minimum. The device must also have a secure software environment and be accessed only by the person who needs to use it. A solution like GlobalSign’s QSS is an ideal option because it provides a centralized and easy-to-use platform for both signing and verification of qualified signatures.
Regardless of the type of signature you choose, all eSignature technologies provide greater business efficiencies and improved security for the documentation your organization relies on. As a result, you can say goodbye to pen and paper and wave hello to a world of digital efficiency and peace of mind. And the best part? All of these solutions can be incorporated into existing workflows to make the transition seamless. Ready to try it? Sign up for a free trial of the GlobalSign QSS. You’ll be up and running in no time!
DocuSign
DocuSign is one of the leading eSignature solutions on the market, and is used by millions of people worldwide. It’s an easy to use, secure, and legally binding solution that can be accessed from any device. It is a versatile tool that can be used across various industries and processes, and can even replace traditional paper agreements.
DocuSign has the utmost focus on data security and offers multiple layers of protection. These include a reliable audit trail, which ensures that the documents and signatures can be tracked and verified. Additionally, the platform allows for two-step authentication via text messages or smartphones. This makes it far easier for businesses to get time-sensitive documents and contracts signed.
One of the things that sets DocuSign apart from its competition is that it provides a complete agreement cloud service that goes beyond just electronic signatures. It also provides a number of other tools that help manage the entire contract process, from initiation to management to termination or renewal. This saves time and money, while improving efficiency and accuracy.
Another great feature of DocuSign is its ability to automatically send completed documents back to all signers. This removes at least one task from the to-do lists of many users, and is a huge timesaver. It also reduces the amount of documents that are lost in transit or accidentally discarded, while ensuring all parties have access to a final version of the document.