3 Ways Digital Signatures Can Improve Work Efficiency
Along with the advancement of technology and more flexible work arrangements, companies are fuelled by competition and changing market demands to evolve digitally. Tedious everyday tasks like paperwork are similarly transformed through technological inventions like digital signatures. As the way we work continues to change rapidly, organisations should take heed of these trends to stay ahead. Read on to find out more about digital signatures.
What are Digital Signatures and How Do They Work?
At its core, a digital signature is simply an electronic version of a regular handwritten signature, and the technology has been around for over a few decades. While Whitefiled Diffie and Martin Hellman may have initiated the conception of digital signatures in the 1970s, it only began receiving more widespread attention and legitimation after the 1980s. Created through cryptographic methods, e-signatures are unique to each user. It uses encryption to make sure that the document it's attached to has not been tampered with and that the person who signed it is who they say they are.
When you sign a document electronically, your digital ID number is used to generate a unique digital signature for that document. This signature is then added to the document, along with your name and contact details. The digital signature is then used to verify your authorship or approval of the document and its content. Subsequently, when someone else receives the digitally signed document, they can use the digital certificate to check that the signature is valid and that it has not been tampered with. These processes makes them perfect for use in legal contracts and other important documents where authenticity and security are paramount. Additionally, digital signatures are also commonly used for email messages, PDF documents, and software downloads.
With expert forecasts stating that the global digital signature market size will reach USD 16.8 billion by 2026, e-signatures will only become more commonplace. Moving forward, as the technology grows in popularity, it is critical for any organisation to view the implementation of e-signature as an inevitable and necessary advancement. Here are three reasons why switching to digital signatures can help you unlock the next level of efficiency for your business to stay ahead of the competition.
1. Increased Convenience
With digital signatures, you can quickly send out any document as information is immediately relayed to stakeholders online with digital timestamps in place. Additionally, you can skip the time-consuming process of arranging and sieving through paper documents and files for that single contract through a simple computer search. This convenience is also translated to your customers and clients, who will be able to sign and approve any necessary documents for you, improving the ease of satisfying customers and thus bettering your company.
2. Superior Security
Unlike wet signatures on paper documents, an e-signature is much more complex and secure, with robust authentication features built in to protect users. While the former may be forged or tampered with in the process of document transit and exchanges, there are intricately connected layers of security within digital signatures. This not only enables digital signatures to be more difficult to interfere with, but also allows digital tracks to be recorded, thereby assuring a higher level of security and prevention against alteration by external parties.
3. Productivity and Streamlined Workflow
E-signature solutions automate workflows for a more intuitive experience by sending out alerts when documents have been signed. They also provide automated reminders for unsigned documents, so you don’t have to worry about setting up manual email reminders with your individual clients. Furthermore, this digital signature solution gives you a birds-eye view of the entire approval process so it is easy to identify bottlenecks and address them promptly.
Digitally Transform Your Business with FUJIFILM Business Innovation’s Digital Signature Solution.
With the scalable technology of e-signature solutions, you can streamline business processes, increase workflow security, and save on unnecessary costs. At FUJIFILM Business Innovation, we are dedicated in creating tailored solutions that meet your business's unique circumstances. With our digital signature solution and many other resources, like business process automation or AI-powered content management, you can easily optimise your resources and enhance business potential. Contact our experienced representatives today to find out how we can help make your business work smarter, faster and more effectively.