Benefits of digital signatures explained.
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Benefits of digital signatures explained.

 

 What are some of the Benefits of Digital Signatures?

In today's technologically enhanced environment, businesses are constantly on the look for innovations that would bring them the edge over their competition.

And yet many businesses don't even think about changing the centuries-old method of signing documents.

There is some inherently classical and solemn in old-fashioned paper documents signed by a pen.

But so is in paper letters and yet they have been out of use for several decades and have beensuccessfully replaced by e-mail.

Many would be surprised that alternatives to hand-written signatures in form of electronic and more specificallydigital signatures exist.

To sign a document digitally doesn't only mean that you are using cutting edge technology. There are namely many benefits of digital signatures in comparison with analogous signatures.

 What are digital signatures?

Electronic signatures are electronically produced names, pictures of hand-written signatures or various combinations of numbers and letters.

As such, electronic signatures often resemble analogous signatures with the difference that they occupy the electronic form and all concerning characteristics.

Most notably, electronic signatures don't require person or the signatory to be physically present at the time of signature.

Digital signatures are electronic signatures that use cryptographic or other methods that can confirm that the person who was supposed to digitally sign a document really is the signatory and that the document has not been altered after the signing.

As a result, digital signatures are completely legally acceptable in all countries around the world.

The latter fact, coupled with otherbenefits of digital signatures presented below, make them the best option to adopt in order to gain comparative advantage over the competition.

Benefits of digital signatures

 1. Security

Although many feel somewhat mistrustful of being able to sign a document from anywhere in the world, digital signatures are actually safer than physical signatures.

After all, what prevents third person from altering your analogous signature and using it to purchase something on your account?

Apart from the ability to duplicate your signature, nothing substantial. The same couldn't be said for digital signatures as they come with unique digital fingerprint that is almost impossible to duplicate.

And even if this happens, time stamp that accompanies digital signature makes sure any alterations of a document can be easily detected.

Encryption verification technology or Public Key Infrastructure (PKI) thus offers the most secure and verifiable standard for identification and authentication of an individual.

As has been discovered by the National Institute of Standards and Technology, a good cryptosystem should be secure even 10 to 20 after the day of its use even considering the technological development.

2. Global acceptance and legal compliance

Digital signatures are legally accepted and fully valid across the world and thus hold the same legal position as hand-written signatures.

The same couldn't be said for all other electronic signatures. Legal treatment of electronic signatures differs from one jurisdiction to the other.

The United States of America, for instance, widely accepts all types of electronic signatures, while European Union, on the other hand,doesn't.

Nevertheless, qualified electronic signatures are globally accepted and cannot be denied solely because they are in electronic form.

Your business partner is thus obligated to accept digital signaturesno matter where in the world he conducts his business.

3. Reduce costs

According to Association for Information and Image Management (AIIM) report, more than 80% of businesses who are using digital signaturesexperienced a payback of the initial investment in less than a year.

A quarter of them have even seen the payback within three month period.

Two of the main reasons for this is that digital signatures significantly speed up the approval process and save a lot of paper-handling costs, especially courier charges.

In addition, if you adopt the digital signing technology, you will no longer have to spend significant resources on paper and ink as all can be done electronically by using computer.

 4. Save time and space

Although this benefit is somewhat connected with previously mentioned reduced costs, it has to be specifically emphasized.

Firstly, with digital signatures you no longer have to print documents just in order to sign them, then scan and send them to whoever is the recipient.

All these steps can be replaced with a simple digital signature software that enables you to sign a document quickly and efficiently.

In addition, with signing document digitally, renting a large storing facility just for your documents is no longer required as all documents can be stored digitally.

Consequently, you are able to save a lot of time and space that can be used more efficiently on other areas.

5. Go green

Not only do digital signatures relieve you of having to store large amounts of paper, they also allow you to do something in favor of nature conservation.

Sustainable development is something businesses and customers are increasingly more aware of and can result in increased attractiveness of your company.

And after all, reducing waste and being environmentally friendly is something everybody should be particularly attentive to no matter the positive business results.

6. Better customer experience

Digital signatures are particularly convenient due to the fact that important documents can be signed from every location customer is currently located.

As a result, businesses don't need to wait for the customer to personally appear at their office and documents can be signed from the comfort of one's home.

Especially if the customer is located in remote and hard to access area, digital signatures enable him to engage with businesses with ease, quickly, and user-friendly.

Websites like FillAnyPDF.com enable you to sign a document digitally in a completely secure and time efficient manner.

In addition, no software is needed as all proceedings can be done online. Such digital signatures are E-SIGN legislation compliant and can be used with everyday business operations.

Last and not least, with FillAnyPDF you are able to collect multiple signatures at the same time and see who signed a document in real time.

There are, therefore, more than enough reasons to ride the wave of technological innovation and start digitally signing documents today.

 

 

Contributor: admin
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