In today’s digital-first economy, efficiency and security are paramount for businesses striving to stay competitive. One significant innovation leading this transformation is the electronic signature (e signature). Research by MarketsandMarkets predicts the global e-signature market will reach $14.1 billion by 2026, growing at a compound annual rate of 31.0%. This exponential growth underscores the increasing demand for streamlined and secure document workflows across industries.
For U.S. businesses, the adoption of electronic signatures isn’t just a modern convenience; it’s a strategic necessity. Below, we explore what an electronic signature is, how it works, and the key reasons it’s essential for U.S. enterprises in 2024 and beyond.
What is an Electronic Signature?
An electronic signature, or e signature, is a digital equivalent of a handwritten signature. It signifies a person’s intent to agree to or approve a document electronically. Governed by the U.S. Electronic Signatures in Global and National Commerce Act (ESIGN) and the Uniform Electronic Transactions Act (UETA), electronic signatures are legally binding in the United States and carry the same weight as traditional handwritten signatures.
An e-signature can take various forms, including:
- Typed names at the end of an email or document.
- Clicking a checkbox during a digital transaction.
- A stylus or finger-signed name on a touchscreen device.
- Advanced cryptographic signatures created through specialized software.
Electronic signatures are widely accepted across industries for their simplicity, security, and ability to accelerate workflows.
How Do Electronic Signatures Work?
Behind their simplicity lies a sophisticated framework. Here’s a breakdown of the typical process:
1. Document Creation: A digital document is prepared and uploaded to an e-signature platform.
2. Recipient Invitation: The signer receives an email or link to access the document.
3. Verification: The recipient’s identity is authenticated using measures like passwords, PINs, or biometric checks.
4. Signing: The recipient electronically signs the document. This action is time-stamped and recorded.
5. Completion and Storage: The signed document is finalized, encrypted, and stored securely, often with a detailed audit trail.
Platforms like eMudhra ensure that these steps are seamless while maintaining robust compliance with international security standards.
Author: Emsigner .com
emSigner is a secure cloud (SaaS) based automated workflow-cum-signing solution which can be accessed from anywhere and anytime and it allows you to define your own workflow and as part of that workflow sign legally binding documents online, without pen, paper or fax. In a way that is faster and more secure than executing paper documents. It’s an electronic signature solution for online document signing, document management and workflow based online portal. Solution is devised to suit the needs of Individual’s, SME’s and Large enterprises for their day to day various kinds of document signing and workflow needs. This a paperless office solution which aims at replacing the herculean manual efforts, time and cost involved in paper based signing and workflow approval process to an automated, efficient, time and cost saving workflow based online document signing solution. Address: No 12-P1-A & 12-P1-B, Hi Tech Defence and Aerospace Park (IT sector), Jala Hobli, B.K. Palya, Bengaluru – 562149 Phone No: +91 8068973216 Email: sales@emsigner.com Website: https://www.emsigner.com/
