What is an electronic signature?
Let’s not overcomplicate matters. The definition of an electronic signature is in the phrase itself. It is a way for a person to sign a document that is electronic. In practice, that means a person can sign a contract through a computer on a document as opposed to printing out that document and sending a copy to the relevant parties.
How does an electronic signature work?
While the premise behind electronic signatures is the same, in practice different electronic signature software packages work in different ways. For example, the electronic signature in Word or the electronic signature in a PDF, is a very simple means of signing a document. It is often just a picture of a person’s name in a handwriting font. That document is then sent via email around to the other relevant parties for signature.
In comparison, some software packages will allow for a document to be signed by several parties at the same time, with a time and date stamp included. That is definitely the case with our software, which we think helps make the most of the technology available. It means that no versions of a contract have to be signed then sent, or no snail mail needs to be used. Instead, with the use of electronic signatures within a data driven software package using cloud technology, documents can be collaborated on and signed simultaneously.
Advantages of an electronic signature
There are many advantages to an electronic signature - particularly when using powerful technology like ours. Firstly, the most obvious benefit to electronic signatures is the big time saving that can be made. Even if documents are only being signed in PDF or Word format, if you can then send it over email, that is far quicker than printing and sending in the traditional mail. It’s even quicker using our software solution.
Secondly, electronic signatures, when using our software, can be far more secure than a pen and ink signature. We use time and date stamps so that it is clear when a contract has been completed. And, of course, collaboration can be a hugely beneficial tool that electronic signatures can be part of. By being able to make signatures several at a time, the whole process becomes quicker again. When it comes to doing business across borders, being able to collaborate on a document and sign it whatever time zone you are in is hugely advantageous to an international company.
Contractbook and electronic signature
At Contractbook, we have been championing the use of electronic and digital signatures for a long time now. Their power really cannot be underestimated which is why we have an electronic signature generator within our software. If you are wondering how to create an electronic signature, you need not look any further than our technology. You will find it not only a big time saver, but also a tool that can make your contracts more reliable.