E-signature and Its Uses

Different Ways to Create E-signature and Its Uses

Online Legal India LogoBy Online Legal India Published On 21 Oct 2022 Category Digital Signature Certificate

With electronic signatures, organisations and people can quickly sign papers from a computer or mobile device, which the court recognises. E-signatures, also known as electronic signatures, enable organisations to reduce risks, save resources, and improve customer experiences. In this blog, you will learn the different ways of creating electronic signatures and where you can apply the signature. 

What Is an E-signature?

Documents that are submitted online are signed with an electronic signature, eliminating the need to sign paper documents with a pen. You can sign all the legal documents, contracts, invoices, finance paperwork, and more electronically. It is somewhat similar to the digital form of a person’s signature. An electronic signature serves as proof that the signer approves or agrees with whatever is provided in the documents. Hence, an electronic signature is legal and secure. You can sign numerous legal documents electronically.

Different Steps to Create E-signature  
 

  • Create your initials using a stylus or with your finger.
  • If your device has a touch screen, your fingertip can instantly create an electronic signature on the page. When logging in on a smartphone or iPad, this is really helpful. 
  • You need to give your signature photo.
  • Take a picture of your paper signature from your mobile camera.
  • It will be converted into a file that will elegantly cover your signature line on your paper.
  • Create your signature with the pointer. Drag your mouse or touchpad along the signature line to create a unique e-signature.
  • Type your signature using your keyboard. Once your name has been entered, you can select a typeface that most closely resembles your paper signature.  

What Are Electronic Signatures Applied?
 

Electronic signatures offer a safer and more efficient way to gather signatures for anything from promptly processing student applications to performing employee onboarding. Some businesses are reluctant to integrate electronic signatures into their operational procedures. But some organisations are still ignorant of the fact that practically, any situation may now be executed with an electronic signature.  Let’s discuss some of the typical situations where e-signatures can be used, particularly in the business sphere.

1. Vendors/ supplier agreements
 

Businesses, especially SMEs, are sometimes at a disadvantage when haggling with vendors, so managers must be able to lock in the terms and prices as soon as an agreement is completed. Managers and business owners can take advantage of the aforementioned benefit by concluding any contract they have with their suppliers in a matter of minutes by signing documents online. 

2. Sales contract
 

Managers who sign documents are certain to close more agreements more quickly. Sales contracts are frequently and crucially signed papers for many firms. E-signatures can be useful for both business-to-business (B2B) and business-to-consumer (B2C) sales agreements.  

3. Customer approvals 
 

The final approval before manufacturing is very important for businesses that deal with consumer goods. E-sign helps you receive and save approvals safely and easily so that you can quickly complete the order. 

4. Employee onboarding
 

The procedures for hiring a new employee include a variety of paperwork. Letters confirming background checks, performance evaluation letters, contact forms, employee handbooks—the list goes on and on. Electronic signatures enable speedy and secure completion of all those forms.     

5. Secure online banking 
 

E-signatures ensure a reasonable level of security, which is crucial when it comes to your money. Financial organisations want to adopt e-sign technology because it significantly reduces the potential of manipulating transaction records. 

6. Filing tax returns 
 

You can make the process of filing tax returns easy with the use of electronic signatures. The Internal Revenue Service (IRS) highly suggests individuals and businesses file their forms electronically to receive a faster refund. Because the possess is so simple and easy with electronic signatures, the number of returns submitted electronically in 2014 increased from  25,000 to nearly 100 million in 2017.

7. E-signing legal paperwork
 

Every day, lawyers, investigators, attorneys, and other legal business participants deal with paperwork that requires signatures. You can save much time as a lawyer using an electronic signature to sign the documents instead of signing them physically.  You can serve your clients and perform other tasks with the time you save.  

Differences Between E-signature and Digital Signature
 

A Digital signature is different from an e-signature and is widely used to implement electronic information. While a digital signature can be as simple as a name in a file, it is widely utilised in e-commerce and legal documents to incorporate electronic information securely using cryptographic techniques. Additionally, there are many benefits and differences between DSC and  E-signature.   

SL No.

Digital Signature

Electronic Signature

1.

A digital signature is a secured signature that functions with an electronic signature and depends on public key infrastructure.

An electronic signature is a legitimately valid and safe digital version of a wet link signature.

2.

It can be conceived of as an electronic fingerprint that both identifies and encrypts a person.

To identify the recipient and grant consent, it may be a symbol, image, or other mechanism attached to the message or document.

3.

You can use it to secure any important documents.

You can use it for authenticating documents.

4. 

The validation of the digital signature is carried out by the trusted certificate authority or trust service providers. 

No reliable certificate authority or trust service providers provide the electronic signature validation.

5. 

It is highly secured.


 

It is susceptible to manipulation.

6.

A Digital signature is usually certified.

E-signature is not usually certified.

7. 

A Digital signature can be cross-checked. 

While Electronic signatures cannot be cross-checked.

8.

A Digital signature contains more security features.

While Electronic signature has lesser security features.

9. 

Adobe and Microsoft are two types of digital signatures.

The three most prevalent types of electronic signatures are verbal, electronic ticks, and scanned signatures.

10.

While encryption standards are included with digital signatures.

It doesn't use any standards or coding.

11.

A digital signature validates the signer's identity by using a digital certificate as an excellent, secure tool for sensitive data like financial records, HIPAA-compliant paperwork, and other private papers or contracts.

Many businesses use electronic signatures frequently in agreements and contracts.

Conclusion 

From this blog, you now know that you can benefit from e-signature in nearly every aspect of your life. There are no restrictions on using this type of signature. But you can also choose a digital signature online as it is more authenticated and high-secure. Contact our experts at Online Legal India to get a digital signature certificate.        


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