In this day and age, data is everything. Electronic storage is the new norm, and everything from salaries to staff records to order reports is kept in files. But what happens when something goes wrong? Well, there’s no two ways about it – data loss loses your company time, money, and potentially destroys information you might never recover.

For this reason, it’s very understandable that many people are hesitant to employ e-signature software to deal with contracts and report work. After all, legal documentation is the last thing you want to lose! However, the good news is that, realistically, these worries don’t need to exist at all.

When it comes to data loss, 70% of leaks and failures are because of action within the company, whether a manager or a low-level staff member, deliberately or accidentally deletes that data. Viruses, hacking, and other cybercriminal acts account for a meager percentage of business data loss.

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E-signature software frequently gets updated to match the challenges the electronic workplace faces every day. Nowadays, platforms come with built-in features to prevent human error, corrupted files, and data loss.

Here are the top five most frequent causes of business data loss.

Human error

This cause is as common as it is unavoidable. Nobody is perfect, from the CEO to the person cleaning the toilets. Unfortunately, in business, the cost of a mistake can vary wildly from barely anything to extremely high. Cloud storage platforms and regularly backing up your systems and files helps prevent and reduce human error.

By using electronic Signatures such as eSign Genie, you can restrict or allow which signers can view each part of the document. This gives you complete control over the entire esigning process.

Malware and viruses

Corrupted links, bad e-mails, hacks, and insecure external devices are all ways in which viruses can enter your computer system. Unsecured or poorly secured business networks are susceptible to data theft and the deletion of vast amounts of costly information. Anti-virus software helps as a shield to protect from viruses and other malware, but it’s imperative to make sure this gets kept up to date. You should also perform regular scans.

eSign Genie enables new ways in which organizations manage, transmit, and archive information. It uses 256-bit encryption that ensures all documents in the system are secure. Through esign you can also electronic  signature in word. This type of encryption will keep your documents entirely secure when they are saved to the eSign Genie portal.

Hard drive damage

Your hard drive is your computer’s information-storing brain, and, like the human brain, it is as necessary as it is fragile. Hard drives do go down eventually, which leads to the majority of business data loss. Minimizing this risk involves taking advantage of cloud storage programs and using backups to keep data safe.

Loss of power

Power cuts are a nuisance, but they happen, and there’s no stopping it! They shut down your computers and the programs you’re using without any warning, which can lead to corrupted files and massive loss of data. Protecting against these requires lots of backups, preferably automatic full system backups.

 

Software insecurities

You need to make sure that the programs you use are from a verified developer. Another way, you may face malicious code built right into the program. Hidden code is another form of hacking, and can lead to loss or theft of valuable information. Only use trusted software for your business, and keep up to date with their security, encryption, and other safety certificates before you use them for your business documentation.

How e-signature software helps

Electronic signatures help to create trust and confidence in a paperless environment. Electronic signature software such as eSign Genie comes equipped with protection from hacking, ID theft, and malware attacks. They make use of tools like audit trails and two-factor authentication to keep your data safe and secure and help you sign contracts with ease.

Two-factor means that even if someone gets your password, they still can’t get into your account. To log in, you’ll need to click a confirmation link in your e-mail or type in an SMS code to confirm your identity.

Audit trails keep track of who, when, where, and why people have been accessing the documents. It also tracks any changes or tamper attempts in each file. This trail is safer even than traditional paperwork!

Advanced Threat Protection (ATP) makes links safe and protect them against viruses, hacking, and phishing attacks. It makes sure every step in the process is secure. As well, Lightweight Directory Access Protocol (LDAP) is an extra layer of protection.

ESIGN, UETA, and HIPAA compliance means your online documents and contracts will be safely and securely stored away from prying eyes!