A powerful tool for the company

Electronic signatures are essential in companies, especially thanks to its simplicity and speed of implementation. But because it guarantees data security.

Arriving from the United States about fifteen years ago, electronic signatures have just begun to find a place in companies. According to Docusain, an American electronic signature player, market penetration is only 5 to 10% of its potential. Yet, if the market is only in its infancy, nothing prevents it from acquiring the letter of the aristocracy already. Especially since the Covid-19 epidemic, a period where handwritten agreements were less easy to sign. “Covid has made digital signature tools essential to a company’s operations,” explained Frederick Bruce, DG Docusaine France.

Extensive reason is that companies that have signed up for this solution have accepted it immediately. One only needs to observe the 2020 Forrester study commissioned by Docusain to ensure that companies lighten (and therefore digitize) their legal and administrative procedures. According to American Firm, 65% of firms experience delays in closing contracts associated with contract management issues; Lack of visibility about location and location before 59% of contract execution, finally, 52% view 3 to 4 contract versions before finalization. So many statistics that indicate the administrative burden imposed by handwritten signatures.

Conversely, according to Docusain, through electronic signatures, up to 80% of contracts end in less than a day and 44% in less than 15 minutes. A speed of performance that appeals to a large number of companies. For example, EssilorLuxottica, a player who makes and distributes eye lenses, frames and sunglasses, signed with Docusign in 2019: Easy and speedy prerequisite. We can sign anytime, anywhere without the need for a printer, courier or postal service. So we know where our documents are because it’s a real advantage in terms of traceability. “I can tell you that we have since increased the number of signed documents around the world.”

Data Security Challenges

For Alexander Lunshoff, while speed is an undeniable asset of electronic signatures, it is more likely to be relayed in the background than with another prerequisite: security. “After all, I need to know if it’s really the right signature,” he summed up. This notion of trust, Docusine makes it almost a private matter, as the issue of privacy is essential for companies. “We have a lot of questions about our security, especially about data management,” explained Frederick Browse. We assure our customers that the documents are encrypted, we never access the contents of the documents. This is not all. In the European Union, electronic signatures are also regulated by regulations on the Electronic Identification and Trust Services (eIDAS) implemented in 2016, to prove that the company is fully committed to the security of its customers’ data. DocuSign is part of the list of Trust Service Providers (PCEs) certified by ANSSI (The National Agency for Information Systems Security).

In addition to the issue of data security, electronic signatures are already pushing the boundaries of digitalisation. “We’re going to see an evolution of eIDAS regulations to use artificial intelligence tools to speed up the qualifying signing process,” assured Frederick Bruce. There is an ambition to do. ” More than ever, electronic signatures are a tool for a brighter future.

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