Since the invention of language, humans have been using some type of handwritten signature to prove identity and authorize agreements. From contracts to licenses to personal letters, signatures are powerful, authoritative, and—in most cases—legally binding.
Now, with the advance of technology, we have developed new tools for verifying and authorizing documents. Electronic signatures are a popular alternative to traditional wet ink signatures. E-signatures have surged in popularity over recent years, with the global e-signature market expected to grow by 27% from 2021 to 2030.
While e-signatures are beneficial for businesses from a wide range of industries, they have particular advantages for the entertainment industry.
What are e-signatures?
The term “e-signature” can refer to a number of electronically-provided signatures, such as a signature created on a table, a typed name, or even a scanned image of an ink signature. However, the most secure type of e-signature is the digital signature, which encrypts a document using a mathematical algorithm which is very difficult to falsify or duplicate.
How can e-signatures benefit entertainment companies?
Media companies, publications, and other entertainment entities generate a lot of contracts and other paperwork, often with very fast turn-around times. Awaiting approvals for this sort of paperwork can be a serious drag on productivity, with crews sitting around waiting to start production or publication time tables slipping.
Virtual document signing allows for more transparency, and also allows documents to be sent to stakeholders—such as agents, vendors, funders, and talent—anywhere, at any time. The use of digital signatures also cuts down on repetitive administration, allowing smaller media companies to focus more on creating content—and getting rid of the need to physically store a large number of files.
In addition, entertainment companies tend to work more with contracted workers, who appreciate the faster payouts provided by allowing financial documents to be signed anytime, and anywhere.
Are e-signatures secure?
Electronic signatures are actually harder to alter or replicate than wet ink signatures. For one thing, e-signatures are automatically accompanied by verified data identifying the signer: public IP address, operating system, geolocation, and method of identity verification. This metadata is stored in a document’s audit trail, which can be used to prove the validity of any electronic signature.
Electronic signature providers are also able to keep track of alterations, creating a digital paper trail on who opened the document, who signed it, when they did so, and on what device. That makes it easier to see at a glance whether signatures have been changed without permission, altering the contract.
Digital signatures provide a powerful, secure, and efficient way for entertainment companies to digitally authenticate content. They’re safe, secure, and legal, and increase contract speeds for lower costs. All it takes is a few clicks of a mouse, and you’ll never have to wrestle with document mailers again.
PRUVID is a leading provider of e-signature and identity verification software. Our cutting-edge program allows businesses in the real estate industry, entertainment industry, legal industry, and other industries to self-authenticate, secure, and export information with a 98% accuracy rate. To learn more about our software, contact one of our representatives today.