Everything you need to know about e-signatures! – DrySign by Exela

Yes, we know. E-signatures are everywhere, and everyone is talking about them. Those of you who are still wandering the unknown streets of all things e-signatures, let us help!

Living in a digitally connected world entitles us to certain benefits. Today, we can get things done swiftly – businesses move at a breakneck pace, deals are made in seconds, bank transfers occur in the blink of an eye, etc. So, when it comes to signing documents, how can we afford to lag behind?

From deals, partnerships, and collaborations between businesses to employee signatures on various documents, the one thing common is the need for a signature. However, in this day and age, we can hardly afford to wait for a person to be physically present everywhere just to sign on a document or even scan, print, email, or courier it. Let’s not forget the COVID-19 pandemic that ensured that physically signing a document was next to impossible for the past 2 to 3 years. Neither is the process efficient nor is it effective. It also leads to innumerable delays resulting in increased costs and sometimes can even lead to the cancellation of a deal.

This is where electronic signatures step in. Electronic Signatures solutions enable organizations and individuals to sign documents remotely from a mobile device or computer, creating an authentic signature in seconds.

Gone are the days when it took more than a few days to sign and send ink-to-paper signatures. Today, procuring a legally binding signature takes a few seconds and can be done remotely from a computer or mobile device. From understanding how e-signatures work and their legal standing in the Philippines, here is everything you need to know.

What is an electronic signature?

The exact definition of electronic signatures may differ from country to country. In the Philippines, “Electronic Signature” refers to any distinctive mark, characteristic and/or sound in electronic form, representing the identity of a person and attached to or logically associated with the electronic data message or electronic document or any methodology or procedures employed or adopted by a person and executed or adopted by such person with the intention of authenticating or approving an electronic data message or electronic document.

Although the term electronic signatures are often used interchangeably with digital signatures, the two are very different. In short, electronic signatures are a legal concept that needs to prove who signed, what was signed, and the intent and consent of the signatory. On the other hand, a digital signature is the encryption technology that works WITH an electronic signature and not as an electronic signature in itself. Digital signatures play the role of securing sensitive data, detecting tampering efforts, and strengthening the signatories’ trust.

Read on to learn everything you need to know about e-signature what to include, where to use them, and how to eSign them.

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