With increasing professionals using mobile phones for business functions all over the world, a technology like Electronic / Mobile Signatures is completely changing the way business transactions take place.
A Digital Signature or an e-Signature can be defined as "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." Mobile signatures were introduced as mSign in 2000 when 35 companies published an XML interface creating a program which allowed service providers to receive digital signatures through mobile phones. This easy and quick method of signing documents was established as an equivalent to a handwritten signature in 2005 by the United Nations. Ever since then, the technology has been embraced by many businesses and individuals with great success.
Since a signature is a sensitive piece of information, there are obvious security concerns associated with the potential misuse of digital signatures. To overcome this challenge, it is important to find a solution in which transactions are done on HTTPS servers and documents are sealed after use, making the system as safe as possible. The solution should shift from schemes like two factor authentication and one time passwords. More secure schemes like internet authentication coupled with a parallel closed network like GSM and a digital signature enabled SIM card should be deployed.
A number of solution providers exist in the market but it is important to understand which one is the right one for your business. Some important factors to consider are convenience, ease of use, legality, flexibility and security. Silanis is a pioneer in the industry having the longest running implementation of electronic signatures solutions for a wide range of industries and for US government organizations. Other well established providers include Docusign and Echosign. With these solution you can:
- Choose between the two deployment methods SaaS or on-premises.
- Reduce the time and cost of the whole process of signing documents.
- Access information regarding all past processes of capturing people's signatures to provide process level evidence, in turn, reducing the number of legal disputes.
- Operate the software on any computer or mobile device (thus electronic signatures on ipad or iphone are quickly becoming a trend).
- Accommodate multiple signers, multiple signs per signer with sequential and parallel workflow.
- Secure each signature block with a digital signature so that signatures cannot be copy and pasted without being detected, making the signing process highly secure.
There is enough evidence to suggest that mobile usage is at its all time high and is still increasing each day. By harnessing the benefits of mobile signatures with mobile, companies can obtain increased efficiency in their processes.