How to Develop E-Signature Software in 2024

E-signatures are rapidly transforming businesses, allowing for electronic document signing across all industries.

Studies show a whopping 82% of e-signature businesses see ROI within a year, with 25% experiencing it within just 3 months. With these compelling numbers, it's no wonder businesses are looking to capitalize by building their own e-signature software.

But where do you begin? This blog cuts through the confusion, providing a step-by-step roadmap to develop secure and effective e-signature software in 2024. We'll cover everything you need to know, from must-have features to development costs.

Let's dive in!

What is an E-signature software?

E-signature software is a type of software that allows users to sign documents electronically. By replacing the traditional method of printing, scanning paper, and physically signing documents, electronic software is increasingly becoming popular.

The solution streamlines workflows and provides secure storage of signed documents. It also ensures a hassle-free way of getting signed documents instantly from anywhere.

So if you are also interested in building an e-sign software to operate your business efficiently, you can get assistance from a software product development company. They will help you turn your vision into reality.

With the right expertise of a software development company, you can build user-friendly and secure e-signature software, that meets your business needs.

Important Market Stats on E-signature Software

Let’s take a look at current market statistics on e-signature software to understand its potential and future better:

• By 2023, the value of the global digital signature market was projected to reach USD 7.5 billion. Now, the sector is expected to be worth USD 10.0 billion by the end of 2024.
  
  
• Throughout the expected period, the e-signature industry is forecasted to grow at a rate of 33.5% CAGR and reach a valuation of USD 134.9 billion by 2033.
  
  
• According to Statista, by 2030, the market for digital signatures is expected to have grown from its 2022 valuation of about 3.9 billion US dollars to 43.14 billion.

Why should you invest in E-signature software development?

No matter what type of business you’re in, one thing is common in all businesses, everyone is looking to increase revenue and save money. Thus, e-signature software offers an easy yet powerful way to make your goals a reality.

According to software or CRM development solution providers, e-signature software brings your business several benefits, including:

1. Cost-effective

As the conventional methods of document signing come with various expenses of ink, paper, storage, and postage, digital signature software has reduced these expenses.

The best software development methodologies to build e-signature solution reduce the requirement of manual processing, which saves labor costs and also increases cost-effectiveness.

2. Increased Productivity

The online signature app allows businesses to automate repetitive tasks related to document signing, such as sending reminders, managing document status, and tracking signatures.

This automation frees up resources and time that allow employers to focus on more important tasks.

3. Enhance Security

With e-sign software, businesses can ensure advanced security features such as authentication, encryption, and audit trails that facilitate the confidentiality and integrity of signed documents. It also ensures compliance with industry regulations.

4. Improved Customer Experience

By spending on e-signature software, businesses can improve user experience by facilitating a user-friendly and convenient signing procedure.

The solution allows users to sign documents digitally from any device, which not only increases customer satisfaction but also builds digital trust and loyalty in your software.

5. Scalability and Flexibility

Custom software development also offers flexibility and scalability by tailoring to specific business needs.

Businesses can leverage the custom e-signature software with their existing workflow and system, customize features based on unique requirements, and scale operations as they grow.

How to Build E signature software?

After knowing the benefits of building custom software for e-signature, now you must be wondering how exactly you can build e-signature software.

Developing electronic sign software is quite a complex process, as it requires careful planning and extensive expertise. However, consulting with a software development solutions provider can make the process easy.

Here are 7 key steps that modern software development companies follow to build E-Signature Software:

1. Conduct Market Research

Before you begin building the software, you must understand the e-signature landscape.

For this, you can conduct market research to identify your target audience, explore top mobile app development trends, and study existing competitors and their insert in your digital software to meet the market gap.

2. Choose the Right Tech Stack

To develop the best e-signature program, choose the best tech stack, offering scalability, security, and ease of integration. Consider programming languages and databases that match your software’s specific needs.

At this point, you can seek assistance from a product development company in selecting popular options, ensuring real-time collaboration and accessibility.

3. UI/UX Design

If you want to stand out from the crowd, your e-signature software must be user-friendly and intuitive. That means you have to invest in a well-designed user interface that users find easy to navigate and visually appealing.

Focus on making a straightforward user experience that can guide users and minimize confusion. An efficient and smooth signing experience can grab user attention immediately and make your software successful.

Also Read: UI Design Principles You Must Follow

4. Software Development

This stage involves the development of core functionality and features of your e-sign software. Ensure that your software includes features like signing capture, document uploading, audit trails, and signer authentication.

Moreover, it’s recommended that you consult with an IT consulting services provider to ensure that your e-signature software adheres to relevant security standards and regulations.

5. Testing and Quality Assurance

This is the most important step in building e-signature software. Here, you’re responsible for using a QA procedure so that bugs and other issues can be identified and addressed quickly.

As this phase requires much effort, it’s best to hire a mobile app development company that can guide you through the testing you need to conduct to obtain a better outcome.

6. Launching and Marketing

Once your software is developed and tested successfully, create a strategic marketing plan so that you can inform your target audience about your software.

To differentiate your e-sign software from other available options in the market, you should highlight the unique selling points of your e-signature software and showcase its unique features.

7. Scale and Maintenance

The process doesn’t end with launching and marketing your software. With an increasing number of users, your e-software needs to scale seamlessly.

To do this, it’s advised to hire dedicated developers who can implement robust infrastructure so that traffic can be managed while maintaining optimal performance.

Must-Have Features of E-signature Software

Because of the flexibility and othe benefits such as improved productivity and improved customer satisfaction, e-signature software has become an essential big game-changer for businesses.

With multiple options and special features, the competition is increasing day by day. Thus, in today's competitive market, make sure you add the following features to your electronic signature software:

1. Mobile-friendly Signing

Develop an e-signature software that allows users to easily access and sign documents from different devices, ensuring accessibility and flexibility.

2. Authentication and Verification

To ensure sign authenticity, your digital signature software should employ different authentication methods, validation checks, and digital certificates.

3. Multi-party Signing

With an effective signing procedure for multiple recipients, specify the signing order and ensure everyone has access.

4. Audit Trail and Document History

Ensure your e-signature app records the signing procedure, including IP addresses, timestamps, and who signed what.

5. Signature Options

Your e-signature platform must offer different signing methods, such as typing, drawing, or uploading a pre-saved signature image.

6. User Management and Roles

Build an electronic signature software program that assigns users roles and permissions to control document access and signing workflows.

7. Security and Compliance

Ensure that your e-signature program guarantees secure document storage with access controls and encryption and adheres to industry standards and regulations.

8. Bulk Sending

Build e-signature software that allows users to share documents efficiently with several people. This will save them time and provide a convenient service.

9. Deadline Setting

Your electronic signature app should be capable of making clear deadlines for signing so that everyone can stay accountable and on track.

10. Customer Support

To make your e-sign software successful, ensure access to reliable customer support if there is any technical issue or query.

Cost of Developing an E-signature software

Building an electronic signature software like Adobe Sign can be a very profitable idea for you. However, you’ve to invest some upfront costs. So, how much will it cost to build a custom software development?

According to sources, the average cost of creating e-signature software ranges from $11000 – $28000. But, the exact cost of creating an electronic signature app can be different depending on the software’s size and complexity.

With this table, you can easily estimate the cost of developing e-sign software. It would be more helpful if you consider the app’s features, functionality, chosen platform, and mobile app development company.

However, you might find it challenging to work with so much difficulty, hence, it’s best to hire software developers or a top app development company.

Ensure that the company of the developers you’re hiring are capable of guiding you about different aspects of building e=software software within your budget.

Read More: How Much Does E-commerce App Development Cost?

Maintenance Cost of E-Signature Software

It’s worth noting that the competition in e-sign software solutions is constantly increasing too. To stay ahead of the competition, you must constantly monitor your software to meet the user’s changing needs.

Usually, the cost of e-signature software maintenance falls somewhere between 15 and 20% of the overall software development cost. However, the mobile app maintenance cost can differ depending on your project’s requirements.

To make the maintenance step easier, it’s ideal to consult with a reliable mobile app development company that maintains your e-signature solution while improving overall productivity.

How Arramton Can Help You Building an E-signature Software

E-signature software is revolutionizing businesses by streamlining workflows. The solution has made it easy to sign contracts instantly and get approval on the fly, as well as paper trails through digitalization.

It boosts business efficiency and effectiveness by saving time and cutting down on physical documents.

If you also want to enjoy such benefits, build your e-sign solution with the help of the best mobile app development company.

If you are looking for the same, Arramton Infotech is a software testing services provider that can help you with custom e-signature software development that meets your business needs.

We at Arramton handle the security, design, and integration with the client’s existing system to give them a powerful tool, transforming how they operate.

So, what are you waiting for? Share your project’s requirements with us today and allow us to bring your idea of e-signature development to the table. Contact us to know how!

Frequently Asked Questions

Q. How do I create digital signature software?

Ans. As e-signature software development requires expertise in the same field. So, you can create digital signature software by considering a professional development company or e-signature software developers. The software generally involves features for document handling, signing methods, robust security measures, digital signature integration, and a user-friendly interface.

Q. How much does eSignature software cost?

Ans. The cost of e-signature software development depends on features, complexity, and chosen development approach.  In-house development can be expensive while utilizing development teams or software platforms can offer more cost-effective solutions. However, the average cost of building an e-sign solution ranges from $11000 – $28000.

Q. Can I create my own digital signature for free?

Ans. Yes, there are free options for creating basic digital signatures. Some document editing software allows creating a scanned image of your signature or typing your name for a basic e-signature. However, these methods lack the strong security features and tamper-evident qualities of a true digital signature solution.

Q. Is eSignature legal?

Ans. In most countries, e-signatures are legal and hold the same weight as traditional wet signatures.  However,  e-signature laws can vary by region. It's important to ensure your software complies with relevant regulations.

Q. What is the difference between a digital signature and an electronic signature?

Ans. The terms "digital signature" and "electronic signature" are often used interchangeably. However, there's a subtle difference. An electronic signature can be a broad term encompassing any electronic method of signing, like a typed name or scanned image.  A digital signature, on the other hand, is a more advanced cryptographic technique that ensures the authenticity and integrity of the signed document.