In an increasingly digital world, the electronic signature has become an essential tool for managing documents and online transactions. These offer a legal and secure alternative to paper signatures, and have become a common practice in companies and organizations around the world.
With electronic signatures, the signer accepts and validates the content of the digital document, which will be legitimate, permitted and secure, thus helping companies to facilitate work between the parties involved, save resources, reduce risks and increase productivity.
Brait Signer, is developed for OpenText Extended ECM Platform and it offers with little effort, in an agile and fast way and in compliance with current regulations, to prepare and send documents stored in its own document manager, with an easy-to-use interface.
Brait Signer Firm Types
Brait Signer has four types of signature. Next, we go on to analyze the pros and cons of each of these firms:
Remote Signature
Pros:
- Remote signing is convenient for businesses and organizations that operate in different geographical locations.
- It allows for a greater Speed in the signature of documents, since there is no need to wait for the parties to be in the same place.
- Save time and associated costs with the transport and storage of printed documents.
Cons:
- The remote signature may be more vulnerable to fraud and counterfeiting, since there is no in-person validation.
- There may be problems with the authenticity of the signatures, since it is more difficult to verify identity of the parties involved.
- The laws in some countries don't accept these types of signatures, which may limit their use.
Biometric Signature
Pros:
- This type of signature is Very safe, since it is based on the signer's unique physical characteristics, which are difficult to replicate or falsify.
- It is ideal for high security transactions, such as signing contracts, financial agreements or identity authentication.
- It is fast and efficient, which can reduce waiting times.
Cons:
- The biometric signature It can be costly to implement, since it requires specialized technology.
- There may be privacy issues, since people's biometric information is stored in a database.
Centralized Signature:
Pros:
- By using centralized signing, the central entity is responsible for verifying the identity of the parties signing the document and issuing a digital signature certificate. This helps guaranteeing That the signatures are authentic and have not been falsified.
- It is widely legally recognized and accepted. Many countries have laws that establish the validity of the centralized signature and its use is considered as evidence in the courts of law.
- It can be more economical in the long term, since it eliminates the need to purchase and maintain specialized hardware and software for managing digital signatures.
- It is easy to use and can be integrated with other business systems and applications.
Cons:
- Centralized signing requires that the parties involved trust the central entity to authenticate your identity. If the central entity fails or is attacked, there may be an interruption in the signing process.
- The central entity that authenticates the identity of the parties signing the document has access to personal and confidential information. There is a risk that this information will be misused or compromised by malicious third parties.
- May be limited to a specific geographic area due to local regulations and laws. This can make it difficult to carry out international business transactions and increase costs.
- Digital signature certificates issued by a central entity have an expiration date and must be renewed periodically. This can be an additional burden for companies that use centralized signing.
Stamp signature (Stamper):
Pros:
- It's very safe and difficult to counterfeit, since it uses advanced encryption technology.
- It allows a greater efficiency and reduced costs, since it avoids the need to print and send physical documents.
- It is fast and efficient, which can reduce waiting times.
Cons:
- Requires specialized technology, which can be costly for some companies.
- The laws in some countries do not accept this type of signature.
Electronic signatures are useful in a variety of use cases where a high degree of authentication and security are required when signing digital documents. Some of the most common use cases include:
- Contracts and legal agreements: Electronic signatures can be used to sign contracts and legal agreements, including employment contracts, non-disclosure agreements, service agreements, rental agreements, purchase and sale agreements, and more.
- Financial documents: Electronic signatures can be used to sign financial documents, such as loan applications, insurance contracts, tax forms, requests to open bank accounts, and others.
- Government documents: Electronic signatures can be used to sign government documents, such as permit requests, tax forms, affidavits, and more.
- Identity Verification: Electronic signatures can be used to verify a person's identity online. This is especially useful for user authentication in online banking applications, payment systems, and other services that require accurate user identification.
- Medical Documentation: Electronic signatures can be used in the healthcare field to sign medical documents, such as informed consents, medical records, and treatment records.
In conclusion, the electronic signatures are an essential tool in the document management and digital transactions. The different types of electronic signatures have their own characteristics and are used in different situations depending on the needs of companies and organizations.
The choice of the appropriate type of electronic signature depends on the level of security that is required, the type of documents to be signed and the convenience of the signers, but with Brait Signer you can choose the one that suits you each time by saving, if required, a report of the entire document signing process automatically in your document manager.
If you need more information, do not hesitate to contact us.
