The Advantages of Digital Signing: A Breakdown
Digital signing is a game-changer for companies, offering a variety of benefits that can streamline processes and increase efficiency. In this blog post, we will explore the various benefits of digital signing for companies and how it can improve security, offer greater convenience and cost savings.
|Nikoline Astrid Lundberg
Process Improvement Manager
What is a digital signature?
A digital signature is a way to verify that a digital message or document is authentic and has not been tampered with. It uses advanced encryption to ensure the integrity and authenticity of the message or document, and it proves that the sender is who they claim to be. It allows people to send messages and make transactions securely online, like signing a contract or sending an important email.
Email, document signing, and online transactions are just a few of the many uses for digital signatures. They are a crucial part of many security protocols and are frequently employed to thwart replay, forgery, and tampering attacks.
Finally, the security and reliability of the Certification Authority that issued the public key are essential to the functioning of digital signatures.
"Digital signatures is a game-changer, streamlining processes and allowing to conduct business faster and more efficiently"
What are the benefits of digital signatures?
Comparing digital signature to conventional, paper-based signing methods provides a number of benefits. Some of the key benefits are:
Digital signatures employ encryption to make sure that the signature is legitimate and that the document hasn't been tampered with. As a result, there is a high level of security and fraud is reduced. Digital signatures can be more secure than physical signatures, as it can be difficult to forge a digital signature in the same way as a physical signature. Digital signatures are 99.9% effective in preventing fraud and ensuring document authenticity.
Digital signatures make it possible for users to sign papers remotely without being present in person. This speeds up the signing process for critical documents and saves time. Likewise, digital signatures make it possible to sign documents from anywhere, at any time, which can be an advantage if you travel a lot, for example. 79% of consumers prefer to sign and complete paperwork digitally.
A digital signature leaves a traceable auditable trail that shows who and when a document was signed. This can be helpful for tracking a document's progress or looking for any potential problems. A study by IAITAM found that 99,7% of respondents believed digital signatures improve traceability and accountability of electronic documents.
Digital signatures eliminate the need to print, mail, and store physical documents, which can ultimately result in significant financial savings. The use of electronic signatures can result in savings of €34 per signed agreement or document, due to factors such as increased productivity among employees.
Speed of processes
Digital signatures can greatly reduce the time and effort required for document signing compared to traditional physical signatures. This is because it eliminates the need for physical signing, scanning, and returning of documents, especially for time-sensitive documents. Moreover, digital signatures offer greater convenience by enabling remote signing, eliminating the need for the signer to be physically present. Companies often see an 85% increase in efficiency after adopting digital signatures.
Digital signatures also help to reduce the environmental impact of document handling by reducing the usage of paper and mailing. A study by the Carbon Trust found that the use of electronic signatures can reduce a business' carbon footprint by up to 200 kg of CO2 per signature.