Board work: Questions and answers about electronic signing

Posted by:
Monica Eriksen
on
May 10, 2022

Board work requires a lot of collecting signatures for board protocols and other things that require signatures from the board members. This can be both cumbersome and time consuming if done manually. With electronic signing, on the other hand, you can save both time and resources.

There are many solutions on the market today, but be aware that there can be great variation when it comes to both functionality, quality and security. In this article, we answer everything you're wondering about electronic signing.

  1. What is electronic signing?
    An electronic signature is a confirmation that you are you, without the need for pen and paper. With electronic signing, you confirm your identity via the Internet using BankID, FaceID, fingerprints or possibly a combination.
  2. Why is it important to use electronic signing?
    The society and world we live in is constantly changing. With the digitalisation of working life, especially after the corona pandemic, many people expect or are required to be able to work from anywhere and anytime. Which in turn places high demands on the solutions and tools we use.
  3. What are the benefits of the company's board using electronic signing?
    The whole process becomes paper-free, and those of the board members who are to sign do not have to show up at a specific place or have access to a mailbox, fax or printer. All you need is an internet connection and an identity verification (BankID, fingerprints etc).

    In cases where documents require several of the board members' signatures, electronic signing will be very beneficial. The board members can sign quickly and securely, and the board also avoids sending out separate documents to each of the members.
  4. What should I consider when choosing the right electronic signing solution for my board work?
    The right choice of electronic signing solution will facilitate good corporate governance and efficient board work. Therefore, it is important to make an assessment of whether the solution is adapted for signing for the file types you use, whether there is a good signature flow, whether the solution supports signing of several documents and not least which devices are supported for signing.

    Also check that the solution complies with the legal regulations for the areas you have your business.
  5. Is electronic signing secure?
    The security will depend on the technical design and complexity behind the signing solution. If the solution involves signing PDF documents that are distributed via e-mail, the security will be much lower than for solutions where sending, storage and signing are controlled in the solution itself with Bank ID, fingerprints or a combination.
  6. What rules must be followed?
    With the eIDAS regulation in Europe, we currently have a legal platform that facilitates use and validation across national borders. The regulation ensures that all signature types are treated in the same way.

Electronic signing in Adminflow
In Adminflow, all Company Admins and Board members have access to Bank ID signing, specially developed for our boardroom.

In addition, all investors have the opportunity to use our own signing solution, where you identify yourself with a username and password.

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