An electronic signature (e-signature) is a traceable symbol, sound, or process applied by signatory to sign an electronic document or form, as a legal means for providing consent, approval or acknowledgement. It holds the same legal standing as a handwritten signature on a physical document if it meets the legal requirements applicable to both the parties. Hence it can be used to replace handwritten signatures in various business processes, such as application forms, contracts, bills, receipts, non-disclosure agreements (NDA), proposals, and others.
E-signatures is finding significant adoption amongst industries, including banking, financial services, insurance, government, and other industries. E-signature is successfully replacing manual wet-ink signatures in various B2B, B2C, and B2E use cases and enabling organizations to reduce cycle time, errors, costs, and in effectively implementing their digital transformation initiatives. It provides organizations an ability to deliver improved customer experience, customer service, and increased operational efficiency.
In 2000, United States with ESIGN Act made e-signature legal for virtually all use cases. European Union made the similar law with its Electronic Identification and Trust Services (eIDAS) regulation effective from July 2016. E-signatures are gaining significant traction around the world as most of the other countries have either made e-signatures legally valid or in the process of enacting laws for the same. However, legal status (including authenticity, integrity and non-repudiation) of e-signatures varies geographically and hence it should be implemented as per the laws and regulations applicable to the parties involved. While most of the countries have well-defined requirements for legality of e-signature, the technology requirements may vary geographically.
In Quadrant’s evaluation of global e-signature market, we have analysed the offerings of all major vendors, including Adobe, AssureSign, Citrix (RightSignature), DocuSign, eSignLive, HelloSign, iSign, Lexmark (Kofax), Namirial (Xyzmo), SignEasy, SIGNiX, and ServiceNow.
Quadrant Knowledge Solutions E-Signature Market Outlook research provides strategic information to the market participants and users which are responsible for strategic planning, marketing, sales, and purchasing e-signature software and solutions. This research provides strategic information for technology vendors to better understand the market supporting their growth strategies and for users to evaluate different vendor capability, competitive differentiation, and its market position.
Table of Contents
- E-Signature Market Overview
- Key Research Findings
Strategic Technology and Market Trends
Market Forecast Analysis
Competition Landscape & Analysis
- Competition Analysis
- Competition Landscape Quadrant
- Leading Supplier Profiles
Best Practice Research
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