FinTech

How to Evaluate an E-Signature Solution

E-Signature Solution

Due to their convenience, e-signature solutions have slowly become an essential tool for many, be it for personal reasons or to aid in business operations, such as with billing, sales, recruitment, and more.

Not only do they make the job easier, but they also bring other benefits, such as enhanced security, tracking, and paperless solutions for work environments. 

However, some e-signature solutions may be overpriced, while others aren’t much different from signing manually. Before you decide to spend money on an e-signature solution for your business, you may want to evaluate the options available to you. Here are a few tips for selecting the right choice: 

1. Take the Product for a Trial Run

While looking for an e-signature solution, you may encounter some products that you can take for a test run. If so, you should be able to easily identify any flaws within the platform, as well as its strengths.

You should take note of all these features, even if they seem inconsequential at the moment, as you may want to go back to them before you make a final decision.

If you are able to esign a document with no problem and if the solution runs smoothly and without complications, it may be a good option to keep in mind as you look into other solutions.

On the other hand, if issues arise during the trial run, then you should assume that the same thing might happen after you purchase it. If it’s problematic on your first use, it would be best to keep it out of your list of options.

2. Make Sure It Integrates Well With Your Existing Software 

More often than not, individuals or organizations looking for e-signature solutions may already be using other types of software in their transactions, such as payroll software, asset management platforms, billing programs, and accounts software.

When evaluating an e-signature solution — or any type of program, for that matter — you should ensure that the solution is compatible with your existing applications.

If you don’t confirm its compatibility before you purchase it, you may run into problems when you try to use the solution with your software. To avoid this, you could reach out to the provider of the e-signature solution to get more information. 

3. Pay Close Attention to the Pricing Model 

Much like any other software, e-signature solutions may vary in terms of the pricing model. Some only offer monthly or annual subscriptions, while others allow users to purchase the software with a one-time payment.

In rare cases, you may even encounter e-signature platforms that require you to pay a flat fee based on how often you use their application. 

If you’re working within a specific budget, knowing the pricing model of the various solutions will help you narrow down your list of choices and will give you an idea of the best option you can afford.

4. Analyze the Platform’s Security Measures 

To protect your transactions and data, it’s crucial that you check how secure the solution is. Naturally, the more secure, the better, but how do you know if a platform or software is truly secure? 

You may opt to do your own research on their security features, but for more complete and accurate information, you should reach out to the provider of the solution.

Find out whether they are compliant with specific guidelines for cybersecurity, such as ISO 27001, and whether their solution has third-party security certifications.

Ask them to brief you on the backup and disaster recovery procedures they may have in place in the event of a cyberattack. If possible, run the information with an IT specialist, just to ensure you didn’t misunderstand or forget anything.

5. Check the Available Features and Functionalities 

Of course, don’t forget to check the different features and functionalities of the e-signature solutions you look into. More often than not, these are what separate average solutions from great ones. There are many features that can go a long way in improving user experience, including: 

  • Authentication 
  • Tracking 
  • Notification 
  • Document editing 
  • Cloud storage integration 

6. Determine Whether the Solution Is Accessible 

The beauty of e-signature solutions is that they’re typically accessible from anywhere, unlike the traditional method of pen and paper, wherein you need the physical document to sign.

If an e-signature solution is only accessible on specific devices, it may not be worth considering. For instance, if the solution is only available on desktop, you should probably take it off your list of options, as it has limited accessibility.

At the very least, you should choose a solution that’s accessible on desktop and mobile devices. It should also be compatible with most operating systems, such as Apple macOS, Microsoft Windows, Linux, Apple iOS, and Android OS. 

7. Examine the Minimum Requirements 

A common mistake that most users make when installing new software is that they don’t check the minimum requirements. Because they skip this step, they tend to install programs with high CPU usage, which often leads to problems like lagging.

Though you may be able to get a refund in these cases, it’s much easier to avoid this problem by simply checking the minimum requirements before making the purchase.  

Endnote 

If you’re looking to get an e-signature solution, all the options might seem the same at first glance. After all, you just need the software to sign electronic documents.

However, there’s no reason to settle for an average solution when you can get one that best fits your needs. With the tips above, you now have a basic guide for choosing an excellent e-signature solution.

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