Did you know that in 1976, Whitefield and Martin Hellman conceptualised the notion of eSign? Soon after, eSigning shot up in prevalence from that point. Today it is quite possibly the most accepted method of accounts getting signed online.
eSign, also known as an online electronic signature, refers to a digital footprint that can expedite an Aadhaar holder to digitally sign a document. After providing a one-time password authentication/Biometric test, any Aadhaar holder can use Aadhaar eSign to sign any official or legal documents with safety.
Aadhaar eSign initiates the cycle of a digital mark with exceptional ease, and furthermore, ensures a much quicker speed than the customary DSC. With the help of online service providers, this service can be easily availed.
Features of eSign
In this digital era, digital signatures act as a digital identity of an individual. Here is the rundown of some of the prominent features of eSign:
- It offers flexibility and affability, as parties can sign any document anytime and anywhere from the world. eSign is secure and considered legally valid everywhere.
- Privacy of the signer remains confidential, which promotes transparency and safety. Moreover, it makes the process faster by making any urgent documents easily accessible for signature.
Challenges that eSign can Solve
Today, exercising traditional signature methods comes with various drawbacks both for the business and individuals. Some of the most notable ones include-
- The problem of the wet signing- How many times your cheque gets bounced because your signature didn’t match with your registered signature with the bank? In our rule-based society, we still use wet-sign to validate cheques, contracts, and other documents. It comes with many drawbacks like forgery but, with eSign, such malpractices do not exist.
- Time Consuming & Poor Efficiency- Typical wet-signature is characterised by incessant time and red-tapism when more than one party gets involved as signatories. That eventually leads to delay and lack of efficiency. Compared to Aadhaar eSign, in which documents can instantly be sent and signed without any intermission.
In many sectors like banking, eSign can be of great help to pitch sales after working hours. An electronic agreement will consistently be fit to be signed anywhere, which additionally abbreviates the handling season of the records.
- High Cost- As per the study, eSign can reduce the operating costs significantly. In fact, the expenses related to paper management of agreements and archives to be signed is more costly contrasted with eSign. Indeed, eSign is the need of the hour.
- Non- Traceable- Wet Signs cannot get traced, and the cost of tracing is high. Once the document is signed, you cannot track the progress. But with Aadhaar eSign, one can promptly track the progress in real-time. By using a digital certificate, all the actions associated with the original document can be discovered and modified. Moreover, the tracking tool incorporated with most eSign can likewise follow the advancement of marks and send a programmed suggestion to users who have not marked the report. Hence, keeping everyone in the signature loop.
- High Risk- There are umpteen risks associated with handwritten signatures, as mentioned above, so the best way to stay safe and secure is to use digital signatures whenever necessary.
Opportunities with eSign
eSign comes with some amazing opportunities that can make your life easier. These includes
- Easy Automation and Accessibility- There is no more hassle of physically mailing the document to anybody. Electronic documents can be conceived and put away online and get signed quickly. Getting to these records is simple and becomes possible from any place.
- Paperless Work- eSign paves the way for a greener and paperless economy. Excessive usage of paper causes deforestation and is harmful to the economy. Such carbon stamps and carbon credits become the deciding factor of waste generation. By using digital signatures and documents, companies can improve their carbon stamp rating.
- High Security- There are negligible chances of damaging digital documents or forging the signature. Little to no problem arises related to signature mismatch or misuse. eSigns are made safe and secure with the help of cryptographic keys.
- Multiple Parties- When there is more than one party engaged with signing any records, an adequate measure of time gets squandered in actually sending the files and standing by unendingly for the mark and return. In any case, with eSign, different parties can sign the reports simultaneously. It saves time, energy, exertion, and cost.
Documents that can be signed with Aadhaar eSign
Almost every document can be signed digitally, thanks to the widespread adoption of electronic signatures. Check out the list of some most common documents that are qualified for eSign–
· Sales Contract
· Vendor Agreements
· New Customer Forms
· Order Changes / Exchange
· Customer Approval
· Employee Onboarding
· Legal Agreements
· Non Disclosure Agreements
· Insurance Policy
· Lending Agreement
· Demat Securities Agreement
· Bank Account Open Agreement
· Term Sheets
· Time Sheets
· Purchase Orders
· Court Orders
· Expense Reports
· Contract Amendments
ZoopSign: Your Most Trusted Solution Aadhaar eSign Provider
On such premise, ZoopSign acts as an efficient platform that helps to solve the problem of wet signing via aadhaar eSign and serves to bring a revolution in the current KYC process by making it more secure, safe and consent-driven.
It works towards creating a Universal Digital Identity and platform where everyone can share their identity comfortably and securely. Their USP lies in building API that is always available, advanced, and upgraded from time to time. Moreover, the platform gets furnished by multiple data sources that render maximum scalability.
Powered by the Aadhaar initiative, it offers a one-stop solution to Aadhaar eSign. With the help of our Aadhar eSign, users can sign multiple-page contracts of multiple users and digital testimony gets stored to make the transaction legally sound.
In short, this platform is well-engineered to service across borders without any problem in network connectivity.