Are You Able to Prove Compliance to External Auditors?

Mary Ellen Power, June 19, 2015

When regulated companies undergo a compliance audit, they are often asked to prove the exact business process they followed. This applies to both customer-facing transactions and internal controls. As part of this, auditors also look for a record of every time key documents were touched, when and by whom.

Whether you are a pharmaceutical company tracking controlled substances, a government agency undergoing a financial audit or a mortgage lender preparing for the new TRID regulations, there is increasing pressure to fully document your processes and decisions. If your company has not systematically tracked and recorded all actions and maintained reliable records, you risk not being able to demonstrate compliance.

Electronic Signature

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e-SignLive provides an extra layer of built-in audit trail protection precisely for this purpose. We call it e-Witness. It gives you an audit trail of the exact process used to capture signatures.

In fact, e-SignLive captures all the "digital fingerprints" customers and employees leave as they go through a signing process, and offers two types of audit trails that help strengthen your legal and compliance position:

  • Document audit trail (what the signer signed): The document’s audit trail contains the digital certificate used to sign, as well as the signature block image, time stamp and unique signer identification information. The document and the e-signatures it contains are tamper-sealed with a digital signature to guarantee the integrity and authenticity of the e-signed record. Especially relevant in a multi-signer process, e-SignLive independently time stamps and locks down each signature and any data entered by each signer independently of the others. So when you review the audit trail even years later, it is clear who signed what, in what order, at what time, etc.
  • Process audit trail (how the signer signed): The e-Witness feature provides context for how an electronic record was presented, reviewed and signed – and makes it possible to replay transactions screen-by-screen, even years later. In fact, American Banker reported that, "banks must be able to demonstrate that customer documents are protected, and that they can't be changed after they're signed. They also need to be able to demonstrate the process, down to the specific screenshots the customer sees, for putting an electronic signature on a document."

Our e-signature solution resonates well with the legal and compliance people we speak to because it provides them direct visibility into when and how the transaction took place – something that simply isn’t possible in the paper world.

e-SignLive’s patented ability to capture a full record of the signing process is unique in the marketplace. E-Signature vendors like DocuSign don’t even come close to offering a process audit trail and their solutions fall short when proving compliance. With e-SignLive, all actions taken by each signer are recorded, including moving to the next document or web page; clicking on a button; applying a signature; and downloading completed copies of documents after the fact. The date and time is recorded for each action and e-SignLive also captures IP addresses. Both the document and process audit trails that we offer are included with our service at no additional charge – think of it as a free insurance policy for your audit and compliance needs.


What your peers are saying

One way business process managers are evaluating the strength of a solution’s audit and evidence capabilities is through users’ posts on business software review sites like G2 Crowd.  Here is a sample of what users, business process managers and executives say about e-SignLive:

  • "We like the complete forensic data capture of signing event. […] We looked at both DocuSign and e-SignLive by Silanis. We chose Silanis based upon the reasons above." (Executive sponsor in fiserv)
  • "Legal, privacy and security concerns are non-issues with the e-SignLive technology. Separate reviews by these teams in our organization concluded the integrity of e-SignLive’s systems were unmatched." (Executive sponsor in insurance)
  • "e-SignLive’s compliance and regulatory support is top-notch." (Martha S., Spokane Teachers Credit Union)
  • To hear the U.S. Joint Chiefs of Staff’s CFO, Mr. Dennis Savage, speak about the impact of e-signatures on auditability, watch this webcast.

e-SignLive has proven to mitigate risk of non-compliance by enforcing business and workflow rules, and capturing the strongest and most comprehensive audit trails in the market. To see how your compliance officers can re-create the signing process during audits, book a personal demo by contacting us at 1-888- 745-2647. Or learn more by downloading this white paper: Why ESIGN Is Not Enough: How to Reduce Legal and Compliance Risk with E-Signatures.