The use of Digital Signature/E-Signature is increasing day by day. Following are the 7 reasons to adopt digital signature for your business and how it can improve the quality of your business. You can show your standard of the business and win the confidence of the document receiver.
With the ingress of digitalisation in every aspect of life today, there arises a need to authenticate and verify the digital documents through a reliable modality. This is where the role of digital signature comes in. This is an application that ensures electronic identification and authentication of the electronic documents. Paper transactions are slowly becoming obsolete and this raises the need to ensure security and validity of electronic transactions. Digital signatures are an effective and efficient means of ensuring these factors. Electronic and online business ventures are hugely dependent on digital signature standards for validating the identity of a person.
Following are the 7 reasons to adopt digital signature for your small business
1. Origin tracking -Digital signatures are complex applications which can be obtained through standard channels and these are extremely helpful in authenticating and validating identity. Thus the sender cannot repudiate the origin of the documents if the document contains a standard digital signature. This is a highly effective means of substantiating the documents of digital origin.
2. No alteration – The second application of digital signature is based on integrity of the documents. The messages are transmitted in an encrypted state but can be converted into readable form. Digital signature or seal ensures that any attempted alteration in the message invalidates the entire message. Therefore it is impossible to fiddle with documents having a digital seal.
3. Prevents fraud -Third advantage of digital signature is that it permits tracing of the document to the original sender. Thus it prevents superfluous and fraud messaging and documentations. The sender who has signed the document, cannot deny having sent it if it has been traced to his portal.
4. Confidence – Fourth advantage is the confidence that the receiver has in the sender of the message if the document bears a digital signature. The presence of the digital signature gives the receiver more sense of safety and security especially while dealing in matters related to finances and money matters. Thus it promotes the business as the receiver has belief in the sender’s message. This kind of reliability is of immense value in electronic business.
5. Go Green – The fifth and the very obvious advantage of digital signatures is the reduction of paperwork and need for real time signatures. This reduces the effort and time needed for the completion of the work. Thus digitalised signatures not just reduce the manpower required for getting the work done; it also increases the convenience and efficiency with which the work is accomplished.
6. Security -The sixth reason for adopting digital signature standard is self security that these signatures provide. If an electronic business company has its own specific digital seals and digital signatures, it can be sure of legally being able to claim or avert responsibility in cases where some allegations are made by the consumer forum or other competitors. Since the documents are invalidated if any modifications are attempted after it has been signed, digital signature helps in presenting a strong case for the electronic business company.
7. Latest trend -The seventh reason for adopting digital signature standard is the fact that as times are changing and more and more of transactions are happening over the electronic media, it is a good idea to be on par with the latest trends in the market space. Early validation and reliability of the electronic media based business is a good idea before this trend becomes a norm and all companies go for digital signature standards. Getting a foothold over the electronic business space at the earliest possible time is recommended because eventually more and more e-business enterprises will follow the trend and the competition for market space will stiffen.
Digital signature is recommended
There is no doubt in the fact that digital signature and seal are an invaluable mode of not just authenticating and validating the business enterprises, but also give a sense of security to the consumer as well as increases the efficiency of the company by bypassing unnecessary paperwork and hard copy documentation. Thus digital signatures for e-business are highly recommended to ensure better business opportunities and expansion.
Stanislav Krotov is a technical writer with a passion for writing on emerging technologies in the areas of mobile application development and IoT technology. ( Moscow State University of M.V. Lomonosov )