Implementing an eSignature strategy is one thing, but taking full advantage of that strategy is another. When using an electronic signature as part of your contract process, you’re already taking a huge step towards a more streamlined, accelerated form of business. But there are a few more things you need to be sure you’re doing to really capitalize off this technology.
1. Signer’s Intent
The efficiency of an eSignature strategy can only go so far for your business if your contract process isn’t legally enforceable. In fact, the root of most potential legal problems when it comes to digital signatures can be traced back to enforceability. Whenever a customer clicks the “I Accept” button in your workflow, they must have the intention to do so. Sometimes intent can be a gray area - PC World outlines some tips to follow to ensure that your digital signature strategy will hold up in a court of law.
2. Identity Authentication
Securing the identity of the signer is absolutely critical when it comes to digital signing. Authentication can come in many forms: secure link via email or SMS, knowledge based questions, or multi-factor authentication. Multiple layers of authentication significantly lower risk of repudiation. A secure e-signature platform, like our Contract Execution Platform, will have airtight measures in place for authentication.
3. Good Recordkeeping
Question: How can you be sure that your contract has been signed, sealed, and delivered?
Answer: Digital recordkeeping
Clickwrap agreements capture customer data with ease, and a digital record follows gaining customer acceptance. This record covers your company’s back if things are ever to get messy. Since clickable agreements for SaaS render digital records as soon as they are signed and are supported by eSignature law and are enforceable in court.
Too often businesses will use eSignature solutions to simply eliminate the need to print and sign a contract, rather than truly streamlining their overall contract processes. Use these tips to leverage your eSignature solution: making fundamental changes to your workflows to get deals signed faster!