After mentioning LuxTrust in “Manage the Critical Risks of Using Electronic Signature” research note in June 2020, Gartner, leading independent research and advisory firm, names LuxTrust a Representative Vendor in the latest “Market Guide for Electronic Signature” published in December 2020.
In this Market Guide, analysts Tricia Phillips and Brian Lowans offer a comprehensive overview of the current electronic signature market. As some of us have already experienced it, remote working and the social distancing measures have accelerated the digital transformation within organisations and increased the adoption of e-signatures.
E-signatures have been enablers in a variety of contexts:
- business-to-business (used to sign NDAs, contracts, agreements etc.);
- business-to-consumer (used to sign loan applications, sales agreements etc.), and
- business-to-employee (used to sign employment contracts, other employee onboarding papers etc.).
They now cover new use cases that that were not necessarily in their scope. As Gartner remarks: “organizations that had not converted paper processes to digital workflow prior to the pandemic are the most likely to turn to workflow-focused electronic signature solutions to fill the gap in their digital business capabilities for policy-driven use cases. Many of these use cases would previously not have been candidates for electronic signatures, but they do require the capture and storage of consent or agreement.”1
According to Gartner’s findings: “There are hundreds of electronic and digital signature providers globally” 2, attention should thus be paid to their capability to truly comply with local/regional regulatory requirements as well as to their flexibility to cover from the simplest use cases to the most complex ones.
In this report, Gartner positions LuxTrust as a “Full-service Enterprise Electronic and Digital signature”3 for its e-signature platform COSI (the highest level in their analysis), having robust capabilities for electronic signature, digital signature, no-code workflow, identity corroboration, connectors to third-party apps and qualified signatures.
In a nutshell, LuxTrust’s e-signature platform, COSI:
- offers all types of e-signatures (from the most simple to most complex ones such as qualified e-signatures).
- acts as a trust services hub, providing e-signatures but also e-seals, timestamping, signature validation services – just to name few, for a greater process digitization capability.
- supports simple and complex digital workflows.
- proposes multiple strong authentication systems.
- has robust APIs, deployable in cloud, on premises or hybrid mode.
- allows various identification proofing tools (face-to-face or remote video identification, ID documents).
- includes rich functionalities (audit trail, connectors to third party platforms etc.).
You can use a Market Guide to understand how the status of an emerging market aligns to your future plans. In the “Market Guide for Electronic Signature” (December 2020), you will also find more information about the e-signature market direction as well as the key business, technology and security requirements (deployment, IAM functionalities, API, workflow, audit trail preservation, certificate management etc.) you need to examine when adopting an e-signature solution. It can accessed here (only accessible for Gartner clients).
To better understand all the above differentiators and how they may impact your business (both from regulation/compliance and risk management perspectives), you can contact Frédéric Tourret at email@example.com.
1 Market Guide for Electronic Signature, Gartner, December 2020
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