Electronic signatures are defined as an electronic sound (e.g., audio files of a person's voice), symbol (e.g., a graphic representation of a person in JPEG file), or process (e.g., a procedure that conveys assent), attached to or logically associated with a record, and executed or adopted by a person with the intent to sign the record.
An electronic signature is easy to implement, since something as simple as a typed name can serve as one. Consequently, electronic signatures are very problematic with regards to maintaining integrity and security, as there is nothing to prevent one individual from typing another individual's name. Due to this reality, electronic signatures that do not incorporate additional measures of security (the way digital signatures do) are considered an insecure way of signing documentation.
By replacing hand-written signatures with electronic signatures, an organization can replace slow, paper-based approval processes with speedier, more efficient and fully-electronic ones. This also enables an organization to save the costs associated with paper-based processes (i.e. paper, ink, routing, etc.) and reduce process times, as documents can be signed electronically by any employee in any geographic location in a matter of minutes, rather than days. Further, by reducing the amount of paper being used, electronic signatures also improve an organization’s environmental friendliness.
Electronic signatures can be used within an organization’s workflows to sign contracts, reports, and any other document type that requires a signature approval. Still, since electronic signatures lack the security measures found in digital signature solutions, controlled processes that must abide by industry regulations should use a secure, standards-based digital signature solution, such CoSign® Central for large organizations, or CoSign Desktop for smaller organizations of 1-10 signers, which always ensures signer identity and intent, and content integrity.
