Electronic Signatures In Industry

   Tips for businesses adopting eSignatures in 2023 The global e-signature market is likely to reach a total worth of $3,410.8 million by 2023. Modernization of business operations and workflow processes tops the priority list for business owners, and electronic signature solutions have been one of the key factors driving it. The eSignature market growth primarily relies on the value it renders to enterprises worldwide. Apart from the convenience of digital signing, the solution provides an array of advantages. It not only helps eliminate the costs associated with manual signing but also saves time, streamlines workflows, and enhances productivity. Due to the massive benefits, minimal costs, and increased ROI, businesses are increasingly transitioning to digital signing. The growth of the e-signature market is evident with the rapid growth in  e-signature  transactions. In the last 5 years, almost $754 million transactions have happened in the U.S. around eSignature adoption. It is no

  digital transformation esignatures DrySign blog Industries all around the world have stepped into an era of digitization, where age-old practices have gradually moved aside, and quicker, more intelligent methods of working have surfaced. The face of business is continuously changing, and the last few years have seen a boom in the number of industries embracing the latest technological trends. Digital transformation, especially  esignatures , has never been more significant, and it looks like there is no stopping it. Over the years, there have been many breakthroughs in the field of technology for business. With newer tools introduced for enhanced business processing, every business tool and its functions vary from industry to industry – whether it is CRM, accounting tools, email marketing tools, or even Chatbots. Ultimately, the purpose of these tools is to help your business grow by reducing costs, saving time, and enhancing the customer experience. One such tool that has made its w

  eSignature Laws around the World Digital transformation is an inevitable, unstoppable phenomenon. The path to a smarter, greener, and efficient tomorrow is paved using technology. As a result, the entire world has begun adopting digital transformation solutions. Riding the tides of this transformation are  digital signatures  that have established their roots globally, across virtually every industry vertical. With the growing demand for digital signatures, various laws and regulations emerged across countries, granting legality to e-signature platforms. There are three types of laws: Minimalist E-Signature Laws Minimalist or permissive e-signature laws allow minimal restrictions on the usage of  digital signatures . The idea behind minimalist e-signature laws is that no electronic signatures may be denied legality just because they are in electronic form. Due to this unrestricted nature, some may argue that this might lead to legal uncertainties owing to vagueness. However, this app

Imagine this typical scenario in any office - a particular job request (could be a procurement request or a legal document for Mergers & Acquistions, or a simple dispatch request) has to be sent out urgently within 24 hours for signatures from three people. Now the problem is that out of these three people, only one is readily available. One is traveling for a business meeting locally, and the other is in a different country and time zone altogether. Ideally, it would not be possible to get all three signatures within 24 hours without devoting significant resources. Such as: Sending the physical document to all three locations to obtain their individual signatures; or Getting the first signature and sending scanned copies to the other individuals and scanning their signed versions in turn; or Finding alternate signatories All of the above are time-consuming and difficult to pull off, given the time restraint in the business environment we work today With DryS

  FAQs - eSignatures in India Digital signatures are increasingly being used worldwide, and their market size is only projected to go up. By 2026, the market size of digital signatures is estimated to reach a staggering amount of $14.1 billion! To implement digital signatures and make them legally enforceable, countries all over the world have adopted different rules and regulations. As a result, in many countries, including India,  digital signatures  are recognized as equivalent to traditional, hand-written signatures. Here are some of the frequently asked questions about digital signatures in India. Are digital signatures valid in India? What are the requirements for digital signatures to obtain legal validity? What is a DSC? What are the types of Digital Signature Certificates? What is eMudhra? What kind of electronic records qualify for digital signatures? In which cases are digital signatures not applicable in India? Are digital signatures valid in India? Digital signatures are v

  Secure eSign The COVID-19 pandemic has upended traditional methods of conducting business. Companies were scrambling to digitize systems, and processes required a digital counterpart to approve or provide signatures on contracts and agreements. These documents formed the bedrock of business relationships and predicted the outlook of future revenue sources. As a result, electronic signatures or e-signatures became a viable solution for firms looking to resume business activities during the pandemic. With physical records and wet signatures falling short of expectations, eSignatures were being implemented in internal processes and external dealings. They had layers of authentication and security integrated within solutions to overcome the drawbacks of wet signatures. In addition, they were used during remote work policies implemented during the pandemic and in hybrid workspaces. Despite the benefits of e-Signatures proving their worth in processes, ambivalent attitudes of firms deal

  Transparency and Security with E-Signatures Digital signatures have sparked a revolution since the development of the RSA algorithm (named after its inventors – Ron Rivest, Adi Shamir, and Leonard Adleman) in 1977. RSA went on to become the most common asymmetric algorithm in use, ensuring electronic messages and data storage remain secret, secure, and accurate. This marked the dawn of various  digital signature  schemes that began emerging soon after. Besides saving time, paper, and a lot of effort, did you know that digital signatures could have also averted several crimes and scandals in the past? Let’s look into a couple of interesting cases. Digital signatures in courts Back in 2013, a band of six cybercriminals forged release documents and had them signed by the judge to facilitate a legitimate-looking prison break. Also, in 2012, a man in Pennsylvania forged release papers to escape from his sentence for tax fraud. All these cases could have been easily avoided using the trace

  Going Green with eSignatures  The world produces 300 million tons of paper annually, out of which 45% ultimately ends up in the trash! But the future need not be laden with massive heaps and landfills of paper waste. Instead, may we see one that is greener and smarter with minimal paper usage. If you’re wondering how we’re going to get there, the answer is simple – digitization. Countries world over have started giving up paper-based workflows & processes, while initiating the transition to efficient, digital counterparts. How badly do we need digitization? This might not feel like the eleventh hour, but in reality, we would be rapidly nearing it if we continue resorting to our current paper usage. In the U.S. alone, over 68 million trees are used to produce paper. An average person from the USA, Japan, and Europe uses 250-300 kilograms of paper every year. Speaking of paper wastage in offices, an average office employee uses around 10,000 sheets of paper every year. These are so

  How to Deal with Signature Forgery Picture yourself enjoying your day-off or a vacation, and suddenly you find out that your signature is being used to sign up for a policy, sign off a QA report for the pilot batch of a prototype drug, or even sign a set of forged release papers! The consequences in such cases could be dire beyond imagination. We are looking at the unauthorized release of wrong medication, corporate espionage scenarios, and even potential prison breaks. As bizarre and unlikely as it may sound, signature forgeries are more common than we think. However, there are ways you can reduce the damage to a certain extent and deal with the mess in the best possible manner. Step #1 – Report the incident Step #2 – Sign an affidavit Step #3 – Keep your legal team in the loop Step #1 – Report the incident In most cases, the ripple effect of your forged signatures can be felt within a short period. Either way, your first step should be to inform the signing parties and authorities.

  Role of eSignatures in Real Estate Deals Modern business moves fast, and only the sectors capable of keeping up with the pace while adapting to the change can eventually survive. The same applies to the real estate industry, which, like other sectors, has its share of ups and downs. The real estate industry banks on agents and brokers to sell properties on time. However, these professionals are often slowed down by tedious paperwork and the endless wait for signatures to be procured and processed, leading to delays in signature workflows. As a result, real estate professionals end up losing out on valuable clients and time. However, new-age tech like digital documentation and  electronic signatures  have simplified the process considerably, allowing professionals to circumvent time-consuming functions like scanning, printing, and delivering physical documents. Digital documentation enables real estate agents to send proposals, agreements, and other vital documents to clients, in just