Cloud technology and electronic signing is rapidly gaining ground in paperless B2B processes. The current focus on electronic signing of documents may be due to Covid-19 but could, for many companies, become the new normal. eSigning can be very confusing with businesses continuing to use paper as the “safest bet”. However, cloud-based Qualified Electronic Signatures (the legal equivalent of wet ink handwritten signatures) are easier, legal and safer.
Chris Jones, Icon’s MD, explains: “The current crisis is forcing people to look at different ways of working but any change has to fit the need, today and future, plus deliver a business case. There are many eSigning types and options available which present opportunities but also many pitfalls and legal implications.”
Rather he suggests companies need to check whether:-
• It is legally admissible and what type of document can it be used with?
• How long does it take to start using it?
• What does it cost and where can it save or make me money?
The eIDAS regulations has established three recognised eSigning types:
• Simple or basic
• Advanced electronic or digital
• Qualified (“gold standard”, QES)
Each level increases the certainty around Identity and Authenticity, and Integrity. But selection of the right type may trade-off these certainties against convenience. A basic “click-to-sign” style is usually fine for simple agreements (e.g. software use) whereas a mortgage loan or commercial deed requires stronger provenance as the values and implications are greater. Many solutions deliver only one or few options; the best offer all three eIDAS types from the same platform and include flexible workflow controls to track progress and automate email.
There are now proven and accepted digital solutions for many areas still unwittingly using paper, such as:
• Cross-Border transactions, contracts and logistics
• Notarised (virtually witnessed) documents
For more information or to discuss how we could assist you, please contact Steve Reynolds on 0203 150 1081
Member to Member offer – Is your business held back by the need to get documents signed during the lockdown? Replace paper and postage easily, with online signing and completion of your existing documents, including Cross-Border forms, Deeds and Notarised Documents. Use for FREE for the whole of 2020! Contact Steve today to activate your offer