Security concerns when transmitting sensitive data have been an ongoing concern. Businesses had to protect their networks from gaining customer trust with e-commerce and online banking.
Electronic signatures have become more accepted and quicker. They serve as the individual sign of validity for any electronic document.
The way we deal with documents has changed along with technology. The growing demand for efficient, modern documentation has led to electronic contracts and digital signatures gaining traction.
The e-signature market has seen a rise in younger customers. Research has shown that:
- Millennials account for 61% of all users and are most likely to use electronic signatures.
- APAC's most frequently e-signed papers were insurance plans (33%%) and healthcare registrations (38%).
- Indian corporate contracts were the most frequently e-signed forms of paperwork (77%)
- The highest rate of eSigning in Australia was for legal contracts (76%)
- The most commonly signed documents electronically in Singapore were insurance plans and renewals (81%)
In addition, the DMV and Customs have increased their e-signature support. The rapid growth of remote working is driving the electronic signature market.
Remote work has changed the emphasis away from relying on handwritten documentation to more digitalized transactions. Organizations seek out workflows that are easy to use, efficient, and easily accessible. Businesses are looking for ways to improve their efficiency.
It can be hard to choose the right e-signature solution. There are many options. We'll be looking at two popular e-signature options in this article.
We hope you can make an informed decision by the end.
DocuSign, which has millions of users worldwide, is the most widely used e-signature app. eSignly, and SignNow is DocuSign alternative that consumers who prefer simple signing solutions.
Today we will examine three of the most prominent competitors in electronic signature and look at what they have to say.
What is an Electronic Signature?
An eSignature, an electronic signature that businesses can use to sign contracts electronically, is described in detail in an earlier post about electronic signatures.
Electronic signatures allow legal and business teams to sign contracts online rather than physically adding an impression, mark, or name to a paper contract with a pen.
Electronic signatures are legally binding because they signify that a party is willing to accept certain terms.
There are many ways to create electronic signatures. The most common method to add an electronic signature to a contract is manually adding them to PDFs, Word documents, and spreadsheets.
You can also use eSignly, a contract platform.
Types of Electronic Signatures
There are three major types of electronic signatures. These differences are explained in the 2016 electronic Identification, Authentication, and Trust Services regulation (eIDAS) passed by the European Union.
These regulations are also applicable to the United States.
This regulation establishes the legal framework for electronic identification, signature process, seals, documents, and other matters throughout the EU.
These signatures are commonly integrated into business processes and workflows. They have become a standard part of the internet user experience.
Simple Electronic Signs (SES)
These are the simplest and broadest types of electronic signatures. eIDAS describes them as "data in an electronic format that is attached to or logically linked with other data in an electronic form and which the signatory uses to sign." They don't require identity verification, and the person signing the document is responsible for trusting them.
Sometimes, electronic signatures are legally binding in certain cases. For many documents, however, you will need to have higher qualifications.
Advanced Electronic Signatures
These signatures are not like simple electronic signatures. They require identity verification. These signatures are based on certificates that uniquely identify the signer.
They are usually transmitted using a specific delivery service, which can provide audit trails and other evidence about the transmitted data. These signatures are usually certified by a Certificate Authority (CA).
Qualified electronic Signatures (QES)
These electronic signatures are similar to advanced ones but meet additional requirements outlined by the eIDAS regulations.
Qualified electronic Signatures (QESs) must be based on valid technological means issued public keys. An audited entity, such as a certificate authority, must also have the ability to identify the signatory before signing.
Face-to-face identification is possible via video chat or in person.
What is a Digital Signature?
A digital signature (also known as "sealing" a document) is a method of proving the authenticity and integrity of a document.
This is not a legal signature but a way to protect against forgery and tampering when handling different documents.
Digital signatures differ from electronic signatures, which use less advanced authentication methods to verify signer identities like email addresses and phone numbers.
Still, digital signatures rely more on advanced authentication processes like certificate-based IDs.
Digital signatures can be used to identify the document. Each digital signature is unique and cannot be duplicated or altered.
This allows you to verify that the person signing the contract is the one they claim to be. This helps protect documents from being altered by creating an audit trail that allows for the traceability of all interactions with legal documents or contracts.
eSignly's native eSignature functionality provides the same level of security. It uses strict identity verification processes like creating timestamps, collecting IP addresses, and creating audit trails.
This allows eSignly users to benefit from a digital signature's security and legal validity - all in one tool. Are digital signatures and electronic signings the same thing? What if you don't use eSignly?
Electronic Signature Vs. Digital Signature
A digital signature is different from an electronic signature in that it seals and identifies a document to prevent forgery.
On the other hand, electronic signatures are used to make sure that legal terms are adhered to, provided the document has been signed with an eSignature.
While electronic and digital signatures can often be used to agree on contracts, some differences exist. These are the differences:
Their Purpose
The biggest difference between electronic and digital signatures is their ability to be used for different purposes.
A digital signature, for example, is used to protect the document and ensure that it has not been altered, altered, or forged.
On the other hand, an electronic signature is used to signify that a signer is actively entering into a binding agreement.
Digital signatures can be used to verify the authenticity of documents. Still, an electronic signature can show that you have agreed to certain terms.
Most contracts and agreements can be signed simultaneously to guarantee they are legal and binding.
Common Use Cases
Digital and electronic signatures serve different purposes, so they are used in different contexts.
Signing electronically on business contracts is a common way to indicate that one party agrees to the terms of the other.
Signing an electronic signature will show that a signatory intends to establish a legally binding relationship with the other party and comply with all obligations.
However, trust service providers and certification authorities often use digital signatures to verify documents.
This is in contrast to commercial teams trying close deals. These bodies will verify and validate digital signatures.
How They Are Created
While electronic signatures can easily be created by contract parties using Word, PDF, or eSignlys native feature, eSignature, humans cannot create them.
Individuals and teams can sign or mark electronic signatures to add electronic signatures to contracts.
Software and algorithms create digital signatures. This is possible thanks to a sophisticated method called Public Key Infrastructure (PKI).
It is a combination of software, hardware, and software that enables data transfers to be secured by generating two private and public keys.
Ease of Creation
Digital signatures are more difficult to deliver than electronic one, as they rely on strict security processes and procedures.
This is because standalone electronic signatures are often not validated. However, digital signatures can be added to documents, and the user's identity can be verified.
Then, cryptography is used for binding the digital certificate.
Legal and business teams can easily benefit from digital signature security and legal validity through eSignly.
eSignly's native eSignature function allows users to sign contracts quickly. The platform creates an immutable record of all actions and an audit trail.
This allows for seamless contract signing without worrying about security.
Security Level
Digital signatures are more secure because they aren't susceptible to being tampered with or altered. Digital signatures, like eSignly, provide a detailed audit trail that allows parties to see if and when changes were made to a document and when and by whom.
Electronic signatures are not required to adhere to the same strict requirements as digital signatures. They can use cryptographic encryption methods instead of digital signatures.
As a result, electronic signatures can be less secure.
SignNow Vs. DocuSign Vs. eSignly
Let's take a look at DocuSign, signNow, and eSignly.
DocuSign
DocuSign was the first company to create e-signature technology. It has grown to be one of the largest eSignature services in the world.
It is part of the larger, cloud-based Framework of Agreement Platform. This platform allows enterprises and sectors to modernize and revamp their paperwork workflow quickly. They can create contracts, sign them, deliver them, and keep them safe - from anywhere on the planet and almost any device.
It has many positive reviews and a large customer base. DocuSign's geolocation capture, real-time activity reports, and templates allow us to create workflows and templates, access rich statistics, gather trustworthy online signatures, and even collect them safely.
DocuSign can also be accessed in more than 43 languages around the globe.
SignNow
SignNow is a part of the airSlate Cloud Business Cloud. It aims to make electronic signatures easier and more accessible from any device.
SignNow's emphasis on cross-device useability, automation, and a simple user interface has allowed it to grow quickly. SignNow has been a driving force in the development of electronic signatures since its inception in 2011.
SignNow now offers a broad range of capabilities, including a HIPAA-compliant electronic signing solution, complex conditional fields, and the ability to create document templates.
SignNow has been praised for its easy-to-use interface. It has thousands of 5-star customer reviews and is considered one of the most popular signature platforms in the world.
eSignly
eSignly provides electronic signatures free of charge. It can satisfy all industries' digital signature needs, including Financial, Insurance, Health Care, and Real Estate Legal.
eSignly is available to all industries to reduce the paperwork and mess they must deal with. Our electronic signature services are now available to all industries.
eSignly offers digital signature solutions to all industries, including Financial, Insurance, and Health Care. All industries can use eSignly.
It also helps reduce time spent sorting through piles and creating chaos. All documents are kept confidential and away from chaos. Our goal is to create an agile system that allows seamless service flow within and between departments within the team.
Amazon Cloud offers secure, reliable, and robust data protection. It includes high-performance computing, firewalls, and data protection rules.
SSDs are used to store data quickly. Promoting paperless activities is an eco-friendly way to go. This will allow users to be more efficient and faster while still fulfilling their social responsibilities.
User Review Comparison Between SignNow and DocuSign Vs. eSignly
Here are the pros and cons to help you decide which one to choose.
SignNow
Pros:
- The most basic package costs $5, which is quite affordable.
- The most basic package includes unlimited templates and unlimited document signatures
- API integration with Salesforce is another advanced feature.
- Includes an Android and iOS App
Cons:
- It doesn't provide any features that cater to a specific audience.
DocuSign
Pros:
- Unlimited document signings and unlimited template options
- Includes an Android and iOS App
- Features specific to the real estate industry
- Reputation for being reliable and efficient
Cons:
- It's a little more expensive than other brands on the market.
eSignly
Pros:
- To protect the integrity of information and to guarantee authenticity to others, self-sign documents.
- In-Person Signing allows you to sign documents in person with anyone available to do so electronically.
- All documents that need to be sent or signed can be prepared and scheduled from your eSignly Account.
- You can speed up your business transactions and reduce the amount of manual effort. NDAs, contracts, invoices, and agreements. Everything that needs a signature
- You can instantly sign your documents from any device, anywhere, anytime. The most powerful solution to streamline your business processes is to go paperless.
- Strong API for eSignatures. You can sign legally binding documents anywhere, anytime, anyplace. You no longer need to sign, print, or scan documents.
eSignly is the industry leader in technology. The product has grown to be an advanced contract management platform suitable for the largest enterprises after a decade of constant development and innovation.
DocuSign and signNow are not far behind.
Multiple review platforms have confirmed that eSignly offers everything you need to sign documents electronically - for a lower price than DocuSign or signNow.
eSignature features
DocuSign, signNow, and eSignly offer all the features that you would expect from an app for eSignature:
- Sign electronic documents
- Send documents to eSignature recipients one or more
- Assigning and configuring signer positions
- Signing order
- Configuring document routing
- Shareable links to Signature Collection
- In-person signature collection via a mobile device
- Signing bulk-sending documents
- Tracking of signatures in real-time
- Notifications and reminders are automatically sent
- Easy-to-use fillable forms
- Fillable fields require data validation
- Basic PDF editing tools
- Attachments
- Collection of payments
- Cloud document management
- Templates that can be reused
- Audit trail and document history
- Mobile-friendly Signing (both iOS and Android Apps Available)
All three products offer a variety of enterprise-grade features, including:
- Administrator dashboard to manage multiple user accounts
- Tools for collaboration and asset sharing
- Branding services
- Rich API allows seamless integration with any stack
eSignly also offers some features that signNow does not currently offer:
- Signing groups
- Business fields
- Document markup and collaboration fields
- Sections smart
- Self-service web forms
- Verification of signer identity
- Cloud signatures
- QES (qualified electronic signatures)
DocuSign's enhanced capabilities for digital signatures make it a better choice for highly regulated countries and industries that require specific identity validation methods.
eSignly has already taken steps to close that gap by introducing PKI-based digital signings (AES). Suppose you're looking for authentic digital signatures verified by unique ID certificates. In that case, eSignly may be an alternative to DocuSign or signNow.
Security and Compliance
DocuSign, signNow, and eSignly legitimate? They are. DocuSign, signNow, and eSign offer legally binding electronic signature that can be used in court in the USA, Europe, and other countries worldwide (where eSignatures have been accepted).
DocuSign and eSignly comply with these standards and regulations
- ESIGN (Electronic Signatures in Global and National Commerce Act).
- UETA (Uniform Electronic Transactions Act).
- eIDAS (electronic Identification, Authentication, and Trust Services)
- GDPR (General Data Protection Regulation).
- CCPA (California Consumers Protect Act of 2018).
As long as they adhere to the following compliances, all three vendors have been certified to offer eSignature solutions in highly regulated industries like healthcare, finance, and food.
- HIPAA
- 21 CFR Part 11
- PCI DSS
- SOC 2 Type II
SignNow currently lacks ISO 27001, 27017, and 27108 certifications. This gives eSignly a competitive advantage in certain use cases.
DocuSign is committed to data security, just like eSignly. eSignly offers strong encryption algorithms, two-factor authentication, detailed Audit Trails, and detailed audit trails.
Pricing Comparison
Below is a breakdown of the prices for each service so that you can see exactly what you will get with each package.
eSignly
#Free
Individual users who wish to save time and money quickly
From $0
- 3 (Sent for Signage)
- Unlimited (Receive and Sign)
- 0 Reusable Template
- Audit Trail in Real-Time
- eSignly Mobile Apps
- Notifications and auto reminders
- Fill out the Signer Form
- Data Validation Logics
- 18+ Languages
- Use Pdf Max 5 MB to Request
#Professional
Small companies and teams that have basic signature requirements
$10 /user/monthUnlimited Signatures
- 1 Reusable Template
- Audit Trail in Real-Time
- eSignly Mobile Apps
- Notifications and auto reminders
- Fill out the Signer Form
- Data Validation Logics
- 18+ Languages
- Send a request using PDF and ALL office documents, max 25 MB
- Box, Dropbox, OneDrive, and Evernote Integrations
#Business
For larger teams or companies who want to personalize their signatures
$20 /user/month
Start as an administrator, and add more to any paid plans.
- Unlimited Signatures
- 5 Reusable Templates
- Audit Trail in Real-Time
- eSignly Mobile Apps
- Notifications and auto reminders
- Fill out the Signer Form
- Data Validation Logics
- 18+ Languages
- Send a request using PDF and ALL office documents, max 25 MB
- Box, Dropbox, OneDrive, and Evernote Integrations
- Shared documents with team members
- On/Off Real-time Audit Trail
- Send private messages with signatures requests
- Signatures in-person
- Allow attachment from signers/receivers (Maximum 10 MB
- Advanced Branding
- Personal Question and OTP via SMS, email, or SMS Additional SMS Credits Required
- Bulk Send (50 at once)
- Team Features and Reports
- HIPAA with BAA (Minimum 100 users)
#Enterprise
Large organizations that have enterprise-level requirements
$30 /user/month
You can start as an administrator and add more to any paid plans.
- Unlimited Signatures
- 15 Reusable Templates
- Real-time Audit Trail
- eSignly Mobile Apps
- Notifications and auto reminders
- Fill out the Signer Form
- Data Validation Logics
- 18+ Languages
- Request PDF and ALL office documents max 50 MB
- Box, Dropbox, OneDrive, and Evernote Integrations
- Shared documents with team members
- Sharing templates with team members
- On/Off Real-time Audit Trail
- Send private messages with signatures requests
- Signatures in-person
- Allow attachment from signers/receivers (Maximum 20 MB
- Advanced Branding
- Personal Question and OTP via SMS, email, or SMS Additional SMS Credits Required
- Bulk Send (100 at once)
- Reports and Team Features
- Longer data retention in cold drives/archive
- Advance Fields include radio buttons, clickable hyperlinks, and many more.
- Masked Fields (similar to Password)
- Performance Dashboards
- HIPAA with BAA (Minimum 100 users)
- Choose Data Center: USA, Europe
SignNow
There are three levels of SignNow pricing. The Business tier is $5 per month and allows unlimited document signing and template creation.
The second tier costs only $10 and includes everything in the Business package, custom branding, conditional fields, and Salesforce integration. Both pricing and feature options can be customized for the final tier.
DocuSign
DocuSign pricing most basic tier is the Personal Tier.
It costs $10 per month. However, it has limited capabilities. You can only send 5 documents per month. Standard, the second tier, costs $25 per month.
Business Pro costs $40 per month.
The Key Takeaway
SignNow is an excellent tool for businesses that don't have the budget to spend too much time getting to know their users and are looking for an easy, cost-effective way to request signatures online.
DocuSign is a better choice for large companies that need to send multiple documents regularly to signers. They will pay more to connect the platform to its tools and solutions and have more signing options.
eSignly is a better tool than SignNow and cheaper than DocuSign. It also offers a lifetime of free use.
