By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    predictive analytics in dropshipping
    Predictive Analytics Helps New Dropshipping Businesses Thrive
    12 Min Read
    data-driven approach in healthcare
    The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas
    6 Min Read
    analytics for tax compliance
    Analytics Changes the Calculus of Business Tax Compliance
    8 Min Read
    big data analytics in gaming
    The Role of Big Data Analytics in Gaming
    10 Min Read
    analyst,women,looking,at,kpi,data,on,computer,screen
    Promising Benefits of Predictive Analytics in Asset Management
    11 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Ensuring Data Security With Cloud-Based E-Signature
Share
Notification Show More
Latest News
ai digital marketing tools
Top Five AI-Driven Digital Marketing Tools in 2023
Artificial Intelligence
ai-generated content
Is AI-Generated Content a Net Positive for Businesses?
Artificial Intelligence
predictive analytics in dropshipping
Predictive Analytics Helps New Dropshipping Businesses Thrive
Predictive Analytics
cloud data security in 2023
Top Tools for Your Cloud Data Security Stack in 2023
Cloud Computing
become a data scientist
Boosting Your Chances for Landing a Job as a Data Scientist
Jobs
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Data Management > Ensuring Data Security With Cloud-Based E-Signature
Data Management

Ensuring Data Security With Cloud-Based E-Signature

Anand
Last updated: 2013/11/21 at 7:25 AM
Anand
6 Min Read
Image
SHARE

ImageIn June 2000, the US Congress enacted a law that is seen as a milestone for the digital landscape. Called the ESIGN act, this law made it possible for businesses to enter into legally bound agreements with their partners via electronic signatures.

Contents
Certified Encryption & Key Management:Restricted User Authentication:Ensuring Data Integrity:Data Protection & Recovery:

ImageIn June 2000, the US Congress enacted a law that is seen as a milestone for the digital landscape. Called the ESIGN act, this law made it possible for businesses to enter into legally bound agreements with their partners via electronic signatures. This was a departure from the centuries’ old practice of signing on physical documents to ensure valid contracts. One of the biggest advantages of e-signatures was the time that could be saved. Businesses that sign agreements with vendors and contractors from other parts of the world had to typically wait for days for the agreements to be shipped from one country to the other.

With e-signatures, agreements may be finalized and signed in a matter of hours. No wonder then that e-signatures are extremely popular with banks, insurance providers and government offices that process hundreds of thousands of transactions every month. According to Silanis.com, which is the leading e-signature service provider in North America (source: Gartner), there are over 600 million e-signatures that happen on its platform every year. The overall number in the market is expected to be much higher.

E-Signatures are also extremely popular among businesses that offer cloud hosted solutions. The reason is simple – customers who pick cloud-hosted solutions rarely if ever meet the provider in person. Most of the discussions are online and even the registration, payment and support are done over the phone or the internet. Given that such businesses have customers from across the world, it also does not make logistical sense to meet these customers in person. Consequently, e-signatures are being seen as an extremely simple and efficient medium to sign contracts and get started on the job.

More Read

database compliance guide

Four Strategies For Effective Database Compliance

Use this Strategic Approach to Maximize Your Data’s Value
5 Big Data Storage Solutions
AI Significantly Increases the Dangers of Social Media Hacking
Strategies to Make Better Profits for CPAs During Tax Season

However, as with any cloud based service, e-signatures are prone to abuse if not implemented properly. This is because cloud hosted services often have multiple services that are being served from the same server. This makes it prone to snooping and tampering of data. However, over the years, the security of e-signatures have been strengthened. Here are some of the very important features to look at while signing up an e-signature provider

Certified Encryption & Key Management:

One of the very critical requirements for any e-signature service provider is to ensure that the document is not accessible to anyone except for the people signing it. To ensure this, the data must be secured through certified encryption standards that includes certified methods of key management.

Restricted User Authentication:

The next step in ensuring a secure e-signature process is to make sure that only the authorized person is capable of viewing the document. One way top e-signature companies enable this is to let the sender (banks, insurance companies, etc.) determine the person or persons who are authorized to view and sign the document. This ensures that this data cannot be broken into or tampered with by any other person.

Ensuring Data Integrity:

A major concern among people and businesses signing documents electronically is about the integrity of data. How plausible is it for the business partner to tamper with the content of the agreement that has already been signed by the other party? The major e-signature providers in the world make use of what is known as “dual source validation”. This technique validates the user accessing the data along with the particular set of data they are accessing. This ensures that no part of the agreement is modified without getting a consent from the authorized user.

Data Protection & Recovery:

Unlike on-premise solutions, cloud hosted e-signature service providers have the onus of ensuring that the data remains safe and secure in times of disaster. A common way to do this is by distributing the service across various geographies so that recovery of data may be done easily after disaster has struck. In addition to this, the datacenters holding the confidential documents must have certified access protection so that they may not be tampered with.

E-Signatures are still an emerging medium of business agreements. However, with a 50% annual growth rate, this is expected to proliferate much more in the coming years. Besides the security parameters mentioned above, e-signature vendors must also ensure peak load availability and periodic security audits to ensure that the data they hold is extremely secure and tamper-proof. Most leading vendors in the market today offer this and much more to ensure customer satisfaction and security. However checking for the pointers above should help businesses conduct due diligence of the provider before they migrate to an electronic signature model for their agreements.

Anand November 21, 2013
Share this Article
Facebook Twitter Pinterest LinkedIn
Share
By Anand
Follow:
Anand Srinivasan is the founder of Hubbion, a suite of business apps. The Hubbion Project Management app was ranked among the top 20 in its category for 2017 by Capterra.

Follow us on Facebook

Latest News

ai digital marketing tools
Top Five AI-Driven Digital Marketing Tools in 2023
Artificial Intelligence
ai-generated content
Is AI-Generated Content a Net Positive for Businesses?
Artificial Intelligence
predictive analytics in dropshipping
Predictive Analytics Helps New Dropshipping Businesses Thrive
Predictive Analytics
cloud data security in 2023
Top Tools for Your Cloud Data Security Stack in 2023
Cloud Computing

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form id=”1616″]

You Might also Like

database compliance guide
Data Management

Four Strategies For Effective Database Compliance

8 Min Read
analyzing big data for its quality and value
Big Data

Use this Strategic Approach to Maximize Your Data’s Value

6 Min Read
Data Management

5 Big Data Storage Solutions

6 Min Read
AI leads to a new range of cybersecurity risks for social media users
Artificial Intelligence

AI Significantly Increases the Dangers of Social Media Hacking

11 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence
ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?