When most businesses consider using electronic document signing, legality and security are typically their two key concerns. In fact, a signature added electronically is just as legal as a traditional wet ink signature and can actually be even more secure – thanks to an e-signature audit trail.
Importantly, to access these powerful benefits, companies must keep an audit log of all document activity. This includes who has accessed, viewed and read a document, any amendments made, when it was signed, and who by.
What is the electronic document signing audit log?
Sometimes referred to as an audit trail, an electronic document signing audit log is a digital record that archives where and when a document was signed, along with who signed it. It can also be referred to as a certificate of completion and enables a business to verify each individual signature and trace it back to the signatory.
What data should be included in an electronic document signing audit log?
To verify an electronic signature, the audit log must include specific information that allows any interested entities to verify e-signature validity. As a result, certain data is always required.
- The date and the time the signature was added
- Confirmation that the individual signing was verified (typically using an authenticated form of identity).
- A record of all changes that were made to the document both during and after signing
- The registered IP address of every signer.
Employing this data contributes to ensuring that the signatures added are authentic and valid. The authentication process involved is the reason why e-signatures can be utilised with formal and legal documents.
Why keeping an electronic document signing log is vital
Every time a document is electronically signed, it is essential that an audit log is always retained and accessible.
Audit logs ensure that a document is legal and admissible in a court of law. Without being able to prove the validity of a document and the signatures added, a contract may be considered null and void resulting in signatories no longer being bound by it. Additionally, if there is an issue with an agreement, without the log, there will be no evidence to support a case.
As the log proves the identity of signatories through validation and authentication, without it, there is no legal proof that those who signed it were the person they pertain to be.
Without a comprehensive log, there can also be no proof that a company has kept a document private or secure. Logs show every interaction and amendment, so without them, there is no evidence that a document has not been compromised.
Audit logs are part of the electronic document signing process and should be considered an integral part of each completed contract.
Electronic document signing solutions for your needs
At Galaxkey, we offer a state-of-the-art document-signing tool designed for businesses, governments, and educational institutions. It creates a complete log of all document interactions and allows you to authenticate and validate signers.
Our powerful three-layer encryption keeps content safe, allowing you to issue public decryption keys to specific individuals who must view, read, or sign important documents. Signing documents electronically is not only more secure but far faster than using traditional techniques.
Our solution is extremely user-friendly, making it simple for your staff to manage signings. Signatures can be added in minutes from any device, and any location and automatic alerts make it easy for admins to track the signing process.
To try out our electronic document signing solution, contact us today.