Many business owners and leaders are prioritizing e-signature software and eSignature solution providers as a first step in their digital journey while enterprises and small businesses adjust their business plans to accelerate their digital transformation initiatives. Faced with the pressure to move away from paper-based processes, organizations are turning to e-signature vendors who offer a small, yet critical, component that helps achieve end-to-end digitization, enhance customer experience, and maximize workflow efficiency.
Digital signature, however, is a less intuitive term. It refers to the encryption/decryption technology used by electronic signature software. The digital signature is used to prevent individuals from tampering with a digital document after signatures have been applied. Generally, the leading eSignature providers leverage digital signature solutions and functionality as part of their larger e-signature solutions.
Seven Things to Consider When Selecting the Best eSignature Software:
1. Flexibility
Does the e-signature solution provide enough flexibility to support your organization’s growing needs? Often organizations will deploy an e-signature tool to one department but will eventually expand their use across the organization. Consider the following when evaluating e-signature flexibility:
2. Custom Branding
Does the e-signature solution enable your organization to maintain its brand throughout the e-signature process? Customization is key in reducing abandonment rates, and a fully customized e-signing process helps build customer trust in the digital transaction and leads to achieving high adoption rates.
3. Ease of use
One of the key benefits of e-signatures is signing documents in real-time, but this advantage can be undercut by a software solution with a poor user-interface or user experience. Is the e-signature solution simple to use for all users? Is it accessible and easy to use for everyone that sends signature requests and signs business documents? Is it easy for IT professionals to develop and administer? If a user wants to use an image of their handwritten signature, is uploading a hand drawn signature a challenge? Leading e-signature solutions will also include a drag-and-drop document builder feature that will allow your team to quickly assemble documents for signature.
4. Compliance
OneSpan Sign is designed to align with major regulations and requirements around the world. Does the e-signature solution comply with all signature types outlined in major e-sign legislation, such as eIDAS, the Uniform Electronic Transactions Act (UETA) or the Electronic Signatures in Global and National Commmerce Act (ESIGN Act)? In addition, be sure that your e-signature solution complies with industry-specific standards related to your use case. For example, how will your e-signature solution align with HIPAA requirements in a healthcare context?
5. Integration with Other Software Platforms
Does the e-signature solution offer APIs and fully supported SDKs, enabling the development staff to rapidly deploy integrated solutions? Do they offer pre-built connectors for popular business applications like Salesforce, sample code, and support for the development team? Do they charge additional costs for development environments?
6. Automation and Process Efficiency
Does the e-signature solution integrate with your organization’s upstream and downstream systems to enable straight-through processing? Are you able to enforce business rules throughout the signing workflow? Is the solution robust enough to allow for optional processing steps such as flexible data capture, document insertion, and multiple signature options? Can the solution support complex automated document workflows? Does it have a bulk send feature? Furthermore, the solution should make use of reusable templates that will help your team streamline document creation.
7. Identity Assurance
Does the e-signature solution offer various authentication methods to validate known and unknown customers? Does the solution allow you to leverage a mix of existing and new technologies that mitigate risk of fraud and repudiation?
In addition to the criteria above, it’s also important to select a vendor that has experience in your industry and deep knowledge of your industry’s unique needs. Do your due diligence by researching the vendor’s reputation and success among its existing clients – you want to partner with a vendor who is truly invested in the success of your e-signature project.
In addition to the criteria above, it’s also important to select a vendor that has experience in your industry and deep knowledge of your industry’s unique needs. Do your due diligence by researching the vendor’s reputation and success among its existing clients – you want to partner with a vendor who is truly invested in the success of your e-signature project.