18 years ago electronic signatures came into power in America. June 30, 2000, was the day the Electronic Signatures in Global and National Commerce Act (ESIGN) was passed by the US Congress. Even though each state retained the right to develop their own eSignature laws, the ESIGN act has since served as a guideline for them all. It would ensure that no signature be deemed invalid or illegal solely because it exists in electronic form. June 30 is now recognized as National ESIGN Day.
Electronic Signature – facts and numbers
Nowadays, it’s difficult to find a person who has never used a digital signature, or at least never heard about it. This technology is a real lifesaver for anybody dealing with large amounts of paperwork, or signing documents frequently. Every day, individuals and business alike benefit from the convenience, speed, and accuracy that eSignatures offer. According to the Statista, more and more of them do. In the period from 2012 through 2017, the annual number of eSignature transactions has rocketed almost tenfold, from 89 to 754 million!
Instances of successful and lucrative use of electronic signatures are far and wide. One such example is a large Spanish financial institution with more than 15,000 branches and over 18 million users. They have incorporated about 50,000 signature pads, transferring 93% of their paperflow to digital form. This allowed the institution to save approximately 3.4 million Euro annually.
What may come as a surprise though, especially considering all of the above, is how blurred the conventional understanding of the eSignature is. People tend to flounder in this topic, confuse the terms, misunderstand the services’ features, etc. This all is understandable, seeing how the technology is still relatively young and so far has been more popular with larger businesses rather than an average Joe.
Familiarizing yourself with electronic signatures can mean the difference between keeping abreast of best business practices and falling out of the picture. Click To TweetHowever, more and more individual and SME electronic signature solutions appear. Familiarizing yourself with them can mean the difference between keeping abreast of best business practices and falling out of the picture.
Electronic Signature quiz
What better occasion to fill out the eSignature blind spots than the National ESIGN Day? To help you quickly and conveniently catch up with the knowledge that you might have been missing, KeepSolid Sign team offers you to pass a short quiz. It will lead you through the basics of digital paperwork and will form a solid understanding of how to sign documents electronically.
But what good is a quiz without a proper reward, right? We think so too, so we’ve prepared some tasty prizes for those who pass the quiz*. First of all, you will receive a 50% discount code for any annual KeepSolid Sign subscription purchases. Additionally, if you opt in to share your results on your Facebook, LinkedIn, or Twitter page**, we will grant you a month of Personal subscription to our eSignature solution. Pass our quiz and fill your boots! 😉
*Please note that the prize draws are only active from June 29th through July 2nd. The discount code itself will be redeemable for 6 months. After that, you will not be able to win awards – but you can still take the quiz for fun!
**Don’t forget to tag us @keepsolid so we can find you, and make your account’s timeline visible for public.