By Legal Futures Associate Lawtech Software Group
Technology is becoming much more prominent within the legal sector, helping it evolve and ensuring law firms are up-to-date and modernised effectively. As legal technology continues to innovate, several advanced tools have enabled firms to streamline processes, enhance due diligence protocols, and ensure compliance within the regulatory framework.
One of those innovative tools is electronic signature technology, which enables firms to send vital documents, including Non-Disclosure Agreements (NDAs), to a client to sign and send back digitally.
Verify 365 has incorporated electronic signature technology into our innovative client onboarding platform, which is enabling firms across the UK to send documents digitally, streamline processes, and eliminate manual, paper processes.
The Benefits and Importance of Electronic Signatures
Electronic signature technology is becoming a staple within law firms. It’s proving a vital cog within the onboarding process and improving overall efficiency. Electronic signatures are much quicker than paper processes and are simple to send to clients.
There are significant benefits of incorporating and utilising electronic signatures, including being trusted, efficient, and cost-effective and depending on your provider, they can be legally binding. Verify 365’s eSignature feature holds the same legal standing as pen-and-paper and, therefore, is legally binding. This means you can receive signed documents in a more streamlined way, enabling a faster workflow and increasing efficiency.
In addition, they are cost-effective, reducing the need to spend and enabling you to streamline workflows. They are an effective tool that enhances the overall processes of a law firm, making a significant impact in more ways than one.
Comprehensive audit trails
Electronic signature technology must be secure and have a traceable audit trail to enhance law firm processes. An audit trail provides a comprehensive record of all actions during the process of sending and signing a document. In addition to providing a comprehensive record, the audit trail also ensures information is protected and secure and highlights transparency and accountability.
Verify 365’s electronic signature tool ensures you have a comprehensive audit trail for all documents sent, signed and received electronically. Our audit trails are broken down into crucial components, including events and modifications, client information, time stamps and IP addresses. Verify 365’s audit trails record events related to the documents from beginning to end. Our technology captures a signer’s name and other important information while time-stamping each action that takes place.
Our comprehensive audit trails also include an IP Address for the sender and signer of the document. This vital address provides data insights, including when the document was signed, and also enables you to verify the signatures’ authenticity to detect any suspicious activity.
Safe, secure, compliant electronic signatures
Any technology has a clear obligation to ensure the highest levels of protection and security are met. Legal technology products are no exception, and electronic signatures must also meet strict security standards to ensure all data and information are protected.
Verify 365’s electronic signatures meet the rigorous UK and international standards. Our electronic signature ensures your firm is practising compliantly when obtaining signatures digitally. As well as being an AML solution, Verify 365 is a compliance solution software, ensuring you can practice compliantly within the regulations of the Solicitors Regulation Authority. We are also accredited by the Law Society of Scotland, meaning our technology ensures you can mitigate risk effectively, prevent fraud, and ease compliance completely.
