Defining Digital Signatures
A digital signature is used to verify the authenticity and lack of any tampering with the document by acting as a virtual fingerprint. Because they are challenging to forge and frequently contain a time stamp, digital signatures are regarded as legally enforceable.
Advantages of Digital Signatures
- Instant - No matter where the parties involved are situated, contracts can be readily prepared, finished, and signed by all of them.
- Affordable - There is no need to spend money on resources like supplies, people, transportation, or location because the entire transaction is paperless.
- Binding - Legally binding documents include those that have both a digital signature and a timestamp.
- Secure - Due to the algorithm used to safeguard the document, which ensures that it cannot be altered and that all signatures are genuine, authenticity is guaranteed.
- Traceable - It simplifies internal record-keeping by storing documents digitally.
With recent technological advancements and an increased focus on data privacy and security, there should no longer be any hesitation in using e-signatures to make your operations more efficient. Lexagle offers unlimited use of digital signatures, among many other features to manage your entire contract lifecycle. Book a demo today to learn more.
