Although electronic signatures were once a luxury in business, it’s now a necessity. However, with sensitive documents being uploaded and signed digitally, one must be aware of online security threats, such as ransomware. It’s important to consider top notch security measures when using e-signature, so that you can prevent any hacking, cyber threats, or security hazards from ever infiltrating your business.
Many e-signature providers monitor document activity to help safeguard your sensitive information, including documents, data, personal details, or company reports. E-signatures are highly secure by acting as digital management and transaction platforms. Plus, they’re just as equally legally-binding as physical document signatures.
Below are top ways to make your e-signature secure:
- Use a legitimate service.
When researching e-signature services, make sure you choose a well-established company. Also, review that company’s security measures for signing and sending documents. For example, find out if this company has SSL certificates in place, as well as undergone an audit log, such as SAS 70 Type II audit. An audit log shows that the e-signature service has appropriate controls and high-level security when it collects your data.
- Understand archiving.
Ask your e-signature service how well the document will be preserved, i.e.: what will the access time length be for the document? Can the document expire over time? To protect your information, make sure all of the contracts you e-sign are kept safe. You can always download your documents and keep them on file, or save the document on a hard drive, to prevent any document loss.
Because companies face many production and retention issues due to the escalating number of electronic information, it’s important that your e-signature service implements effective electronic document archiving. Make sure you ask your e-signature service what their archiving process is, and how they overcome challenges to prevent document damage.
- Look for digital encryption.
Think of digital signatures as electronic fingerprints. Digital signatures are formatted as a coded message, and they securely match a signer with a document in a recorded system. Digital signatures follow a certain protocol; when a document is signed by a signer, the signature is made using the signer’s “private key,” which is secured by the signer. This “private key” becomes the encrypted hash.
Digital signatures add extra assurances of evidence to identity and status of an electronic document. When looking for e-signature services, make sure to read their e-signature security and policy pages to ensure you’re comfortable with their procedures.
- Track document activity.
Any modifications to the document should be brought to your attention, i.e.: if the signer of the document modifies anything, you should be aware of the changes, or require their consent. Also, make sure that you’re able to track the document’s status and monitor the signer’s activity at all times. Admins are able to monitor document activity through the audit log, for example.
E-signatures are finding their place in all industries and businesses. From simple contracts to lengthy real estate transactions, e-signature services are becoming the standard in document management. Do some research and find the e-signature service that will help keep your business secure!