Top 11 of The Best Electronic Signature Software Platforms

Electronic signatures like have been around for much longer than we recognize. In the mid 1800′s people were using the Morse code, and telegraph to transmit acceptance of contracts. While this isn’t exactly the same form of electronic signature we use today, variations of electronic acceptance have been around longer than us.

According to the ESIGN Act definition the term electronic signature means, “an electronic sound, symbol, or process, attached to or logically associated with a contract or other record and executed or adopted by a person with the intent to sign the record”. According to the ESIGN Act laws an electronic signature can mean much more than a document signed in cyber space. In the 1980′s the fax machine was fundamental in delivering high priority documents from business to business. This technology, while dated is still the most used form of transmitting documents and contracts today.

Future of the Electronic Signature

As technology progresses, so does the electronic signature. The most common language used to describe today’s signature technologies are; electronic signatures, ESIGN, e-signature, and digital signing. These terms most often refer to the symbolic graphic or audio representation of human consent or agreement. This consent is usually transmitted over an internet platform or computer software application. The intent of today’s solutions are to cut costs by eliminating paper waste,improving security, and to speed up the transaction of contracts. There are some risks associated with electronic signature solutions due to security measures and the perceived inability to prevent non intended parties from accessing or signing a document.

Understanding rising technologies is fundamental to capitalizing on their success. Additionally by recognizing the challenges that arise with overcoming outdated technology we can move closer to improved ways of developing electronic signature technologies that prevent security concerns.

Security issues

With all the hesitation and perceived security risks around the modern day relay of files over the internet, it’s interesting to recognize the ongoing comfort and continual use of old technologies. Transmitting documents or contracts over the fax machine leaves the door wide open to security risks. The possibility of sending a facsimile to an incorrect fax number or having it intercepted by the wrong recipient is highly probable. Similar risks are tied to e-mail transactions.

Failure to enter the correct address can result in the wrong recipient receiving potentially confidential material. Even if the file is delivered to the correct recipient it still could end up in a junk or spam folder. Statistics show that internet breaches are the main cause of data or private identification loses. In one case over 400,000 email addresses were exposed due to a website hack.

As technology advances and new technologies emerge, some security issues are addressed and mitigated through improved technology development. In utilizing these new tools we are able to protect ourselves and others from potentially harmful risks.

File management

Over the last few years there has risen a number of very exciting technologies. One of these technologies has begun to pop up on every corner as a form of file management called cloud storage.

Cloud storage takes the burden and risk of storage away from the user’s personal hardware and moves it into the hands of database experts who in exchange for a fee store and back up the data on their servers. These providers generally allow access to the data through an online “cloud” based application. What this means for us is we can breathe easy when our computer system crashes, has space limitations, or when we need to access our data from a remote location. There are a number of cloud solutions available today, each with unique ways of managing files.

In some cases electronic signature solutions utilize cloud storage as a part of their solution and offer a cloud based interface that stores documents and contracts as an addition to their ability to have those documents signed. This adds value by creating an online access point to a library of contracts or files that can be used anywhere and at anytime.

Contract negotiation

Understanding the unique differences in electronic signature solutions will aid in the discovery of what solutions match best with specific individual or business needs. Contract negotiation refers to the ability to both sign contracts through a software platform, and negotiating the entire contract process from start to finish. For example, if a contract needs to be looked over by a legal team before signing, it can be shared and collaborated within a secure online portal. Notes and comments can be made from one party to the other and once this process has been completed the document can then be signed within the same space. Some of these added tools can add efficiency and security by combining diverse tasks within the space of one portal.

Pricing

Not all electronic signature platforms and solutions are created equal and many have been built around only one or a few specific needs. That said solutions price widely varies on product features and product popularity. Some of the leaders in this space may charge anywhere from $40.00 to $90.00 a month per user depending on usage or added features. Some smaller organizations charge as little as $8.00 a month and include a variety of additional features.

The price of solutions are not a great barometer to what is offered and with all of today’s rising technologies finding the right product to meet your needs requires some due diligence and research to evaluate the specific needs of your organization.

[block_reclama1]