Digital signature is the need of current era of digitization, if your business manually signing documents, the time for
bulk signing, risk of documents being tampered is some of the common problems organizations faces. This is the time when your organization should be trying to find digital signing software solution as a business practice.
The particular fact says that the employees are wasting about 20-30% of their time weekly in managing the
document and signing it. It also highlights the cost incurred in papers.
In today’s fast-paced world, going paperless with digital signatures is the way forward. Government legislation
has ensured that digital signatures have identical legal validity as a handwritten signature. Digital signatures employ various encryption technique to do their job. Encryption is to ‘encode’ a group of knowledge from a computer before it leaves then decode’ it at another computer with an identical key
while maintaining its ‘authenticity’.
Password-checksum, cyclic redundancy check, private
key – public key encryption, etc. are samples of techniques employed by digital signatures, depending upon the degree of encryption required. Practically, all of
those cover these 3 steps –
- Key ‘generation’ algorithm – This algorithm generates a random pair of keys for the document signer. The algorithm ensures the individuality of this ‘key pair’ to make sure the safety of the document where they’re
going to be deployed.2. Document ‘signing’ algorithm with the Key – using an appropriate algorithm, the user signs the document
and sends it across to the recipient.
3. Key ‘verification’ algorithm – this is deployed at the receiving end, to verify the sender’s key.
For this complete mechanism to be effective, it’s imperative that the info signed with the ‘private key’ of the individual, is verified by the ‘matching public key’ of an equivalent individual. Adequate confidentiality has to
be ensured, so as not to forge the private key of the sender.
Business Benefits of going paperless with Digital Signature:
2. Legally Defensible
3. Time saving
4. More control on your documents
5. Improve Efficiency
6. Advanced Security
7. Time-stamp & easy Auditing
8. Better customer Experience