Both demand and need for eSignature solutions have increased exponentially, on a global scale, over the last two years. The use of eSignatures was already gaining interest but grew dramatically with the onset of the Covid-19 Pandemic. Due to “new-normal” remote work requirements and the necessity of secure online operations, the popularity of eSignature solutions rose rapidly.
Since 2002, when the Electronic Communications and Transactions Act (ECTA) took effect in South Africa, eSignatures have been recognised as an acceptable means of signing most documents. While some used this new, valid means to obtain legally binding signatures, others were hesitant due to concerns around security and validity. Since the onset of the Covid-19 pandemic, however, many have been left with no other choice but to find reliable eSignature solutions in a transformed world.
According to the Fortune Business Key Market Insights, the digital signature market is expected to be worth more than $7 billion by 2027, which is a drastic increase from its market worth in 2019 which was $1.09 billion. This sharp rise in worth is indicative of the need and growing demand for eSignatures.
Impression Signatures (a leading provider of secure eSignatures in South Africa) and Striata (a prominent provider of digital customer communications solutions) recognised the need for secure, efficient, and easily manageable eSignature solutions. Realising the power of joining forces within the regional market, these organisations have partnered to ensure easy access to safe, efficient eSignature solutions.
“This new partnership is going to strengthen our ability to provide the most secure and effective eSignature solutions to the public,” explains Warren Blackbeard, Sales & Channel Manager at Impression Signatures. Impression Signatures and Striata not only recognise this need, but understand that eSignature offerings need to be convenient and protected; both for those signing documents, and for those requesting that documents be signed.
“Protection against fraud and repudiation goes both ways; customers need the assurance that they are transacting with their service provider, and that any agreement they enter into will be honoured. Just as those service providers need assurance that they are entering into an agreement with their customer, and not someone posing as that customer,” advises Brent Haumann, Managing Director, Africa, Striata. Ensuring that both parties to an agreement are safely identified, and able to consent to a transaction is a critical step in any customer journey.
“Utilising effective eSignature solutions not only provides vital security and ease of use for organisations but can also offer companies reduced costs and time expenditure,” continues Blackbeard. “In a Forrester study on the economic impact of electronic signatures it was estimated that organisations gain an average of 410% return of investment on time and resources. This equates to an average of R100 saved per document.”
Through this new partnership, Impression Signatures and Striata ensure users enjoy increased return of investment and absolute peace of mind, dealing with secure and confidential documents. Now businesses can confidently embrace digital transformation, while ensuring customer and business data protection, confidentiality, and security.
Impression and Striata take document security very seriously. “With this partnership, customers enjoy the utmost protection, offered alongside the convenience of mobility. Our digital document delivery and signature solutions are easily embedded into the business’ existing web and mobile applications,” confirms Blackbeard. This effectively strengthens customer satisfaction, allowing for a convenient and seamless customer experience across various channels.
“Partnering with Impression has added a missing piece of the puzzle to our solution. When two organisations that value security, customer experience, and high-quality technology at their core team up, it creates a formidable offering to the market. With Striata’s expertise in automated customer communication and secure delivery, and Impression’s expertise in non-repudiation and identity assurance, there is an obvious synergy that has resulted in an easy to implement, highly relevant solution for our customers,” concludes Haumann.