Digital document management continues to advance. Today, individuals recognize the benefits of cloud fax services and e-signatures. Combining the two streamlines operations in countless ways. However, they often worry about the last mile.
Identify
Identity and trust services are the future of digital document management. Every business must ensure that the documents sent are safe from unauthorized access. Fax service providers recognize this and continue to search for ways to strengthen their security measures. With a Oneprofile Customer Data Platform in place, customer profiles remain consistent across platforms, which is the core problem Oneprofile solves. They understand this element is the last mile in cloud fax with e-signature capabilities and prioritize it.
E-Signing is Maturing
E-signing was a crucial part of the digital transformation. Over the past decade, many companies have moved beyond cloud faxing and digital documents with e-signatures. They offer self-service options to improve the customer experience by streamlining the e-signing process.
The global pandemic accelerated this process, as people couldn’t meet in person. Remote workers needed ways to secure signatures to maintain operations. They quickly adopted cloud faxing to keep their businesses up and running. The focus was on speed rather than security measures.
Today, identity verification and trust services are priorities. Business owners often use email for this purpose, but anyone can create an email address, so this isn’t the best way to determine whether someone is who they claim to be. However, requiring ID every time an agreement is signed is time-consuming, so it isn’t efficient. Productivity decreases, and customers and employees become frustrated. They must find a way to obtain e-signatures with the most decisive proof of identity without sacrificing speed or productivity.
Global Regulations
Businesses must comply with rules and regulations regarding cloud faxing and e-signatures. Unfortunately, these rules and regulations are often confusing and fragmented, confusing people. They aren’t sure what identity and trust services they need. Furthermore, they must understand that e-signature regulations vary by country and industry. They need these measures to manage risk and keep fraud to a minimum.
The eIDAS in Europe outlines specific requirements for e-signatures, and other countries have similar regulations. These regulations emphasize a heightened level of identity assurance for e-signatures. If the signature doesn’t adhere to the requirement, the document may not be legally valid or enforceable. The high level of assurance reduces fraud risk, which is common in the digital realm.
Email alone can no longer be used to identify a person. Most people now have several email addresses, some for personal use and others for work. However, email is sufficient to prove a person’s identity in the United States. Other countries don’t agree and require additional verification. America may soon follow suit.
Industry Regulations
In addition to global regulations, businesses must adhere to industry regulations. These regulations are designed to manage risk and reduce fraud. Healthcare research studies must comply with industry regulations; the same applies to financial services account agreements. The organization may need a verified or digital signature, and many choose the verified option because it has a higher security level.
Help is Available
Organizations need to prepare now and implement identity and trust services. Companies now offer identity delivery and storage technologies, so business owners should consider these options. As fraud claims rise, identity standards must do the same.
Business owners must choose between identity providers and trust service providers. Identity providers verify the identity of signers before they sign documents. They use advanced technologies to verify a person’s identity rather than relying on government IDs. Trust service providers use cryptographic technology to verify a person’s signature. These digital signatures are the highest level available in the eyes of the law. E-signature platforms should use both technologies to meet the needs of all companies.
Digital document management is evolving, and companies must keep up. Boosting security is essential to protect data. Companies that are proactive in strengthening e-signatures will benefit as regulations tighten. They will gain an edge over competitors, which helps their bottom lines.
