What to Look for When Choosing an Electronic Signature Provider
The pandemic has hastened the shift to remote labor and digital client engagement. Organizations across a wide range of industries are adapting important workflows and evaluating new technologies to support their digital transformations as a result of the demand for mobile and touchless workflows. Web conferencing and collaboration tools, as well as electronic signatures, were among the most popular new technology investments during the pandemic.
What are the documents, agreements, and forms that you want to manage online but are now routed manually or on paper? Non-disclosure agreements, sales contracts, new hire documentation, invoice processing, purchase orders, expense reporting, vendor agreements, internal compliance, and letters of intent are all examples of legal documents.
Do you require your recipients to be able to sign papers on their mobile or tablet devices?
Do you want to be able to make a payment request at the time of signing?
How many people in your company send documents to be signed?
Would you be interested in a solution with an application programming interface (API) that enables you to create custom electronic signature integrations today or in the future?
Product functionality: If you're looking for a basic e-signature solution, there are a few options available. The options are more limited if you demand advanced capability, greater flexibility, and an end-to-end agreement workflow. Forrester divides the market into solution groups based on solution capabilities, with vendors in the "digital trust services" and "digital transformation" platform segments offering numerous significant benefits over those in the "e-signature specialist" and "PKI specialist" categories. Before choosing an e-signature partner, make sure you understand your present functionality requirements and how they might change in the future.
Forrester also divided the industry by yearly sales, with the largest vendors falling into the $40 million-plus bracket. These companies are well-known, have a global geographic presence, and often provide extensive functionality and experience in a variety of industries.
Geographically, if your company works worldwide or across numerous regional jurisdictions, you'll want to choose a provider with a strong global footprint and in-depth knowledge of local regulatory needs, such as the European Union's eIDAS.
Identity fraud, data breaches, and risks to data integrity have all increased dramatically in recent years. Choose a vendor that offers advanced security features such as audit trail preservation, advanced and qualified e-signature support, and certificate management.
Customer and employee experience: Customers and employees alike desire convenience and ease of use now more than ever. "Forty percent of surveyed global buy influencers think that improving their customers' experience is a high or essential priority over the next year," according to Forrester.
Understand your business needs and assess all possible use cases within your organization. Consider where e-signature can have the most impact on your company and how to use it. Note that the feature and process requirements for business-to-business (B2B), business-to-consumer (B2C), business-to-employee (B2E), and even employee-to-employee use cases might differ significantly (E2E).
The demand for digital transformation has never been higher as customer and employee expectations continue to grow at a rapid pace. E-signature solutions are an important part of the digital ecosystem, and choosing the proper vendor to fulfil your company's specific requirements is critical.
What criteria should you use to assess an e-signature provider?
Before you choose the proper vendor to satisfy your specific e-signature requirements, you should consider many factors. The initial step is to figure out what you require. Begin by asking yourself the following questions:What are the documents, agreements, and forms that you want to manage online but are now routed manually or on paper? Non-disclosure agreements, sales contracts, new hire documentation, invoice processing, purchase orders, expense reporting, vendor agreements, internal compliance, and letters of intent are all examples of legal documents.
How many of these documents do you produce and distribute on a weekly or monthly basis?
Do you want a system that works with your existing software, such as Salesforce, Oracle Netsuite, SAP Ariba, Workday, Google Workspace, Microsoft, Slack, and Quickbooks?Do you require your recipients to be able to sign papers on their mobile or tablet devices?
Do you want to be able to make a payment request at the time of signing?
How many people in your company send documents to be signed?
Would you be interested in a solution with an application programming interface (API) that enables you to create custom electronic signature integrations today or in the future?
When choosing electronic signature software, there are a few things to keep in mind
Product functionality: If you're looking for a basic e-signature solution, there are a few options available. The options are more limited if you demand advanced capability, greater flexibility, and an end-to-end agreement workflow. Forrester divides the market into solution groups based on solution capabilities, with vendors in the "digital trust services" and "digital transformation" platform segments offering numerous significant benefits over those in the "e-signature specialist" and "PKI specialist" categories. Before choosing an e-signature partner, make sure you understand your present functionality requirements and how they might change in the future.
Forrester also divided the industry by yearly sales, with the largest vendors falling into the $40 million-plus bracket. These companies are well-known, have a global geographic presence, and often provide extensive functionality and experience in a variety of industries.
Geographically, if your company works worldwide or across numerous regional jurisdictions, you'll want to choose a provider with a strong global footprint and in-depth knowledge of local regulatory needs, such as the European Union's eIDAS.
Identity fraud, data breaches, and risks to data integrity have all increased dramatically in recent years. Choose a vendor that offers advanced security features such as audit trail preservation, advanced and qualified e-signature support, and certificate management.
Customer and employee experience: Customers and employees alike desire convenience and ease of use now more than ever. "Forty percent of surveyed global buy influencers think that improving their customers' experience is a high or essential priority over the next year," according to Forrester.
Choosing the best electronic signature solution
Gartner advises taking a methodical approach to evaluating and selecting the best e-signature solution provider for your organization's specific requirements. We've already addressed some of these steps, such as:Understand your business needs and assess all possible use cases within your organization. Consider where e-signature can have the most impact on your company and how to use it. Note that the feature and process requirements for business-to-business (B2B), business-to-consumer (B2C), business-to-employee (B2E), and even employee-to-employee use cases might differ significantly (E2E).
The demand for digital transformation has never been higher as customer and employee expectations continue to grow at a rapid pace. E-signature solutions are an important part of the digital ecosystem, and choosing the proper vendor to fulfil your company's specific requirements is critical.
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