The concept of eSign was introduced through the Information Technology Act, 2000, in India, but has evolved in recent years and is likely to change the face of online transactions. Conversations around technologies for remote consent and electronic signatures (eSign) started in the late 1970s, subsequently gaining vast momentum in the 90s. With the advent and global acceptance of the PDF format, and the formation of multiple regulatory frameworks in the 2000s, the field has only flourished over the past two decades. In fact, over the past couple of years, eSign has turned into a critical enterprise technology with the pandemic paving way for and accelerating a digital working environment. Interestingly, the past decade witnessed acquisitions in the eSign space to the tune of a total deal value of a staggering $2 Billion.

With advancements in Automation technologies over the years, eSign offerings have gone from being standalone remote consent tools to end-to-end signature workflow automation solutions. A 2021 Zinnov research underscores this trend, indicating that approx. 90% of the major players in the eSign space offer end-to-end workflow automation solutions. Further, of these, approx. 80 percent offer fully customizable workflows. The pandemic-induced remote working construct has set the stage for a major boom in the eSign space, with the vast majority of the working population having signed at least one document digitally. Every online transaction requires unique and strong protection which is served by electronic signature.

Given that the majority of signers might not be direct users of the eSign platform, the holy grail of an effective eSign platform is combining technical prowess, with ease of use, and finally tie it up with a pricing strategy that appeals to the client groups. Ease of use of an eSign platform goes beyond just platform simplicity and seamless navigation.