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Electronic signature or e-signature software allows a contract to be signed digitally with a formal signature. The goal is to speed up contractual processes that legally require a signature.
The signature can be created using a mouse, a touchpad or tablet. E-signatures do away with paper forms. Paper forms are replaced with easily tracked and audited digital documents.
E-signing is especially important for contracts involving remote parties. In those cases, in-person signatures would be a significant roadblock. Therefore, most vendors offer features related to integration, file sharing, compliance, and approval workflows.
E-signatures may be deployed in many scenarios, including things like:
Sales order processing
New hire paperwork
Invoicing
Inventory sign-off
IT asset change or maintenance
Legal documentation
The benefits of e-signature software include:
Acceleration of transactions and contractual agreements
Increased efficiency through digitization and automation
Ease of demonstrating compliance, compared to a paper trail
Some e-signature tools are lower cost and geared toward contract-heavy industries like real estate or household services. They offer capabilities for generating and signing simple contracts via tablet or mobile device.
More sophisticated platforms offer enhanced integration, security, and oversight capabilities.
Electronic Signature Software may include the following features:
Send & Collaborate: Ability to easily send digital documents, or sync them with a digital repository.
Integration with Systems of Record: Compatibility with project management, ECM, and CRM systems, among others.
Compatibility with Document Types: Support for signatures on almost any kind of document or file. Examples are .txt., .doc, pdf., and .xcl.
Sign on the Go: Documents can be signed on a mobile device, even while offline, to be synced later. Useful for field agents.
Form Conversion: Areas and fields within a form (e.g. a .pdf) can be converted to a spot to sign.
File Sync: Prepare documents offline or on the go, and sync them with the repository later.
Digital Signature: Asymmetric encryption with a certificate-based ID, providing enhanced security with authentication and non-repudiation. Useful for enterprises or in scenarios where compliance is a concern.
Managerial Oversight: See who has and has not signed. Useful for tracking and accelerating sales offers toward closure.
Workflow Design, Creation & Editing: Designing or re-ordering contracts' workflow to a manager's specifications.
White Label & Branding: Ability to present documents in your own branded style.
Compliance: Support for different compliance standards such as HIPAA, SOC 2 type II, and ISO 27001. Concerns vary by industry, so vendors tend to focus on compliance standards for particular verticals.
To compare different Electronic software, consider these aspects of each product offering:
Feature Needs: Unlike many software categories, electronic signature software options don’t have many features provided by all products. If your business needs any features beyond digital signatures, you can narrow down your software selection process a lot by looking for electronic signature options that meet each of your needs.
Form Conversion Options: One of the key features of electronic signature tools is their ability to convert existing forms into forms that can accept a digital signature. Consider how your forms exist now, and whether or not each tool can convert them. A tool that can convert most or all of your forms will save your business a lot of time compared to other options.
Integrations: Many electronic signature options offer integrations with business systems such as CRMs. When comparing electronic signature software, consider which ones offer built in integrations with tools you are already using. If you have any obscure integration needs, consider how difficult it is to build an integration with each electronic signature tool.
E-signature vendors often price on a per user, per month basis. Pricing ranges from $10/month for personal or individual use to $40+ per user per month for businesses. Enterprise platforms may cost upwards of $100 per user, per month for more sophisticated features.
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Adobe Sign (formerly EchoSign) is an electronic signature platform and service, and part of the Adobe Document Cloud suite of document management solutions, the other being Adobe Acrobat.
OneSpan Sign (formerly eSignLive) is an e-signature solution for secure document signing processes that enables organizations to digitize business processes and eliminate costly paper and inconvenient “wet” signatures.
eSign Genie in Cupertino offers their electronic signature application supporting digital document signing with reusable templates, contract drafting with esignature workflow, embedded online forms, and other features.
SignRequest is an e-signature platform. The vendor promises e-signing that is easy, fast and legally binding while maintaining the highest standards of security.
Citrix RightSignature is an electronic signature system competing directly with Adobe Sign and DocuSign. RightSignature was acquired by Citrix in October 2014.
Nitro Productivity Suite combines electronic signature and general PDF editing, from Nitro, Inc. It is built around capabilities such as getting approvals and esignatures in seconds and sharing and reviewing documents from anywhere.
Concord is a way to create, collaborate on, sign, and store agreements; designed to be the only tool needed for contracts, so users can spend less time juggling between applications, editors, and e-signature tools.The vendor states over 500,000+ companies use Concord with their contracts.…
Formstack Sign (formerly InsureSign, acquired by Formstack July, 2019) offers their eSignature application for document signing across all platforms (e.g. mobile, tablet, etc), document backup with audit trail, and support with features built around the needs of insurance agents…
Secured Signing is an electronic signature software offering from SecuredSigning. It includes features such as capturing graphical signatures and individually sign a document.
Legalesign is an electronic signature software offering. It includes features such as no per-user pricing and real-time tracking.
Able2Extract Professional, is a PDF converter, editor and creator, a PDF suite that aims to cut down on time spent dealing with PDFs and increase PDF productivity in the office.Able2Extract lets users convert scanned and native PDFs to more than 10 formats, such as MS Word, Excel,…
KeepSolid Sign is an electronic signature application from KeepSolid in New York, a privacy, security and VPN software company.
