The modernization of documentation has allowed organizations to efficiently track document changes and updates, collect signatures, and ultimately streamline the document management process.

If your business is looking to upgrade its documentation practices or if you'd like to take your paper contracts online, electronic signature software—also known as digital signature or e- signature software—provides a great solution. E-signature software is secure, aids document transparency, and can be customized to suit your company’s needs.

This buyers guide will help you make a more informed purchasing decision before you select an electronic signature solution for your organization.

Here's what we'll cover:

What is electronic signature software?
Common features of electronic signature software
Benefits of electronic signature software
Key considerations for purchasing electronic signature software

What is electronic signature software?

Electronic signature software is a tool that is used to ensure secure authentication of digital documentation. The solution verifies the identity of signers through various methods, including PIN or password, SMS, and ID document scans. Electronic signature platforms often feature file sharing, audit trails, document storage, and e-signature capabilities.

Electronic signature software is typically used by lawyers, bank sale agents, human resource specialists and other business professionals seeking to streamline document signing.

Common features of electronic signature software

Authentication	Verify the user’s identity to ensure resources are securely accessed. Utilize two-factor authentication (2FA), SMS authentication, ID verification to ensure only authorized users can access documentation.
Electronic signature	Electronically sign documents using a finger, stylus, mouse, or keyboard. Eliminates the need to sign documents in person, expediting the document signing process.
Access controls and permissions	Regulate who can view and use the system by setting permissions and issuing passwords to authorized users.
Audit trail	Track document changes using timestamps. Ensure document transparency during the creation, updating, and finalization process.
Customizable templates	Reduce document preparation time by using pre-made document templates. Create, save, and re-purpose the formatting of documents.
Data security	Ensure digital privacy and secure data by utilizing security features, including 256-bit AES document encryption, ID verification, and personal identification numbers (PINs).
Document storage	Store documents in a centralized location for easy access. Control the lifecycle of documents and eliminate unnecessary documents.
File sharing	Share various document types through email or text, expediting the document signing process.
Mobile signature capture	Capture digital signatures via mobile device. Sign documents via mobile web browser or application.
Multiple-party signing	Share documents with multiple users and collect signatures in a serial, parallel, or combination order.

Benefits of electronic signature software

Decreases risk of forgery: Most electronic signature solutions feature robust data security mechanisms that help businesses block unauthorized users from accessing electronic documents. This decreases the risk of forgery, ensuring that only authorized persons have access to certain documents.
Improves customer experience: Signing documents can be a hassle, especially for people who are constantly on-the-go. Electronic signature software allows users to conveniently sign documents remotely. This improves customer experience by simplifying the document signing process.
Increases document transparency: Electronic signature software helps organizations ensure transparency in the document creation and updating process. Electronic signature platforms track changes made to a document, who made them, and when. This increases document transparency and maintains the integrity of the documentation process.

Key considerations for purchasing electronic signature software

Signature collection method: When adopting an electronic signature solution for your organization, consider what methods of signature collection your chosen solution offers. Some solutions offer a variety of signature collection methods, such as scanned signatures, e-signatures, and typed signatures. However, some solutions only offer one or two of these signature collection methods. Speak with your vendor to ensure your electronic signature platform offers the signature collection method(s) your organization prefers.
Ease of implementation: Electronic signature software often streamlines contract signing and aids document management directly within a company's existing contract management platform. However, this does not necessarily guarantee that users will automatically know how to use it. Before implementing your electronic signature software, ask your software vendor if they offer solution training. Solution training can speed up the software implementation process, helping users to securely log into the electronic signature platform and use it to streamline document signing and management workflows.
Integration options: Most businesses seeking to purchase an electronic signature solution are already using various software solutions to manage their business documentation, such as a contract management or document creation platform. Integrating electronic signature software with the existing solutions can enhance the contract/document management process and enable users to collect customers’ signatures promptly. Hence, it is important to consider if your chosen electronic signature platform can seamlessly integrate with your existing solutions.

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