Confusion reigns over e-signature requirements ahead of upcoming EU eIDAS regulations with a new survey revealing that 56 per cent of business executives are wedded to signatures on paper for contracts and order forms.
According to the research from information management analysts AIIM, 31 per cent of respondents agree that most of the paper documents they retain are only there for the signatures.
With new EU eIDAS regulations set to come into force from July 1, there remains widespread confusion over the use of electronic signatures from country to country. eIDAS will end over-regulations caused by different interpretation of the directive into national laws and clearly define where and how electronic signatures can be deployed.
“Keeping paper files because of a misguided belief that signatures are required for compliance needs to be addressed, but the different legislation across the EU has been confusing for multinational organisations,” said Bob Larrivee, chief analyst at AIIM.
“eIDAS serves as the functional requirement for businesses seeking to implement e-signature technology, with a comfort level that if the solution they choose complies with eIDAS, it complies with the regulations of any EU member country.”
The AIIM research showed that a perceived need for physical signatures was one of the main reasons given for there being so much paper in business processes, although 79 per cent of respondents also agreed that all businesses should have an e-signature mechanism.
“eIDAS addresses requirements head-on, coming with streamlining of electronic signing terminology and making it easier for businesses to identify those elements of e-signature use relevant to their business goals and practices,” said Larrivee.
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