eSignature Lawfulness for Operational Budget in United States

How to eSign a document: e-signature lawfulness for Operational Budget in United States

good afternoon and thank you for joining us for today's webinar the topic this time is digital signatures 101 improve efficiency and security with paperless signing this webinar is hosted by the ABA legal technology resource center and speaking today will be Patricia H hialgo the legal technology Resource Center is an ABA member benefit provided by the ABA law practice division the ltrc has been providing lawyers with legal technology guidance for more than 25 years you can find a variety of legal technology articles guides videos and other resources on our website at .law technology.org or at our blog .law technology today.org Patricia hialgo is the sales manager for the legal and financial markets at ARX she was previously a strategic account manager at National regulatory Services where she provided Regulatory Compliance Consulting services and Enterprise workflow management Solutions prior to NRS she was an account manager at laser fish document management for the last nine years Patricia has focused on sales of software applications to help organizations with paperless initiatives to improve processes while maintaining the security of their data thank you all for joining us we'll now begin the webinar hello everybody thank you for joining us today my name is Patricia hialgo legal industry manager at ARX today we'll be discussing digital signatures 101 improve efficiency and security with paperless signing to automate your signature dependent processes with the proper standards controls and integrity today I will be discussing electronic and digital signatures business drivers considerations for Signature Automation and digital signatures for the legal industry digital signatures are signatur that are industry standard they're thoroughly peer-reviewed and vetted for security and consistency this is a bit of a mouthful what this means is that they are reviewed for the vulnerability of tampering and forgery they give you the primary elements needed to meet your governance requirements audit requirements and your corporate compliance what are those elements tamper detetion proof of Integrity you see you get a clear indication by that green check mark that Integrity is in check and the Red X if there is tampering so the key of signatures is to ensure that no tampered content is relied on or goes undetected this is a fundamental property that you get with a digital signature so that you and the people in your organization can inspect and rely on that signature document and content the other elements that are mandatory include proof of identity in the evidence proof of intention and proof of date and time and that Integrity check with this type of signature you are compliance ready and you can meet your governance issues and compliance requirements so what is a digital signature digital signatures are not just an electronic replacement for pen and paper the native application can inspect the signature most native applications are digital signat future aware any stakeholder can inspect the evidence and the digitally signed document for proof of signer identity signer intention date and time and document Integrity describing this type of automation bottom line of paper is too expensive I posted several quotes here for you to read you can see that prizer says what signatures cost $30 digital signatures can help you be more efficient and address the cost issue in your Enterprise digital signatures can help you to be more efficient and save that precious time and money and have a better bottom line aim undertook a survey where they interviewed 300 Enterprises they found that 41% need signatures on more than half of their documents 65% add more than one day to their processes just to collect signatures then 48% print more than half of their documents just to add signatures think about that last one if you're printing more than half of your documents today to collect a signature and you and you decide to start automating your signature proces overnight you effectively have a 50% savings and overhead cost time as well as handling bedex envelopes Etc this is a very compelling case for automation many Enterprises don't realize the large amount of documents and processes that are signature dependent it's too easy to hit that print button and introduce that expense and overhead into the business these here are actual use cases of customers who have adopted visual signatures from the survey on the left you can see the transactional category of documents that cross an organizational boundary those documents may be verified and relied upon by people outside the organization that's what a digital signature allows people outside the organization can inspect and verify signatures that rely on it once your signature is reliable your business will continue to move on the right governance talks same thing but only internal people need to rely on the signatures this type of signature allows the documents to have effect because you can inspect the signature for the evidence ing to what your audit or governance requirements requires continuing the aim survey also interviewed organizations that had deployed signature automation technology and found that 68% saved scanning 65% improved process velocity and 53% saved paper handling costs 81% of these reached our I in Under 12 months so you can see from the survey the impact Enterprises are having by implementing signature automation when using a digital signature you should get a visible signature in the native application the evidence is maintained in the document itself and travels with the document wherever it goes for the remainder of its life cycle that can be from organization to organization or can be traveling through time in long-term archives the point here is that enough evidence is carried so that when you digitally sign a document you are actually transforming a document into a legally enforceable record because it contains the evidence that any stakeholder or auditor can inspect and rely on or if it's been tampered with to not rely on what does this mean for your business it means your business can move outside of your organization you can send these documents the partners suppliers Regulators these documents will have effect because the people receiving them will be able to inspect and verify the evidence that you were the person who signed when you signed and why you signed digital signature should be compatible with your content authorizing applications such as PDF editors word excel SharePoint sorry one slide over um it's restating here that these signatures are compliant you can see the new standard it gives you compliance with industry requirements such as FDA Hippa Etc All In All Digital signatures are Engineers need the broadest diversity of Regulation compliance wherever in the world a signature needs to be relied on here you go access from your Enterprise applications so digital signature should be compatible with your content authorizing applications such as PDF editor word excel SharePoint IM manage alesco EO Etc so for example documents could be initiated from the legal department where they are using any one of their DM applications signatures can then be collected and then finally archived in the DM application the benefit here is that digital signatures travel with the document and don't rely on Enterprise just them that verify and rely on the signature this is an example of a digital signature within a Microsoft Word document you can see there's a toolbar plug-in in word so this makes digitally signing easy for signers when working Within A Word document to the lower right corner you see the signature block and integrity check what is digital signatures for the legal industry well by implementing dig digital signatures into your organization you can save on print scan tax cost by digitally signing your documents in seconds and at the end of the day your organization has all the liability for the signatures your employees make it's important and critical that your organization keeps the signature processes within proper controls digital signatures ensure this security digital signatures can also adapt to your existing Enterprise architecture and applications you you should not have to change the way you are doing business and they will improve the efficiency and back of your back and middle office staff can also use your own signature initials Etc that can also include a reason code and time and dates with digital s signatures you can further automate your processes and improve workflows and lastly digital signatures have been thoroughly debted and reviewed by some of the most highly regulated organizations join these organizations to adopt digital signatures and see your Roi Under 12 months