Why Digital Signatures Are The New Normal
In recent years, there has been a transformation in the way businesses operate. With technological developments and advancements in business solutions, we can achieve more with less time and effort. This allows us to focus on what matters most and make the best of our limited time and resources.With the way technology is constantly evolving and improving, businesses are always finding new ways to be more efficient and productive. Whether this may come from workflow optimisation through solutions such as Robotic Process Automation or simply switching to more intuitive office facilities, savvy business owners stay focused on advancements. Only by staying up to date with the latest innovations can one remain competitive in this age of digital disruptions. An example of how digitalisation is becoming normalised is through the increasingly common use of e-signatures.
What is an E-Signature?
An e-signature or digital signature is an electronic form of a signature that businesses can use to authenticate the identity of the message's sender or the signer of a document. They are often used to secure email communications, contracts, and transactions.
History of E-Signatures
The history of e-signatures dates back to the early days of public key cryptography in the 1970s.The first real-world application was in 1992 when RSA Data Security used them to secure email messages. Since then, these digital signatures have been widely adopted to ensure the authenticity of electronic documents and statements.
How Do E-Signatures Work?
E-signatures use technology that identifies the signer and verifies that the document has not been altered. An e-signature acts like a traditional handwritten signature, but it is unique to each signer and can be verified electronically. When signing a digital document, your computer creates a unique code linked to your identity. This code is then encrypted and added to the record. The recipient can then use your public key to decrypt the code and verify that it matches your e-signature. This process helps ensure that the document has not been tampered with and that it came from you.
According to recent reports, the global digital signature market is slated to expand and reach US$7.99 billion within the next five years. This forecast shows how e-signatures are quickly becoming the new normal at work, with countless global public and private organisations integrating them into daily business processes. Beyond ensuring that your business in New Zealand does not fall behind, here are three other reasons to consider incorporating digital signatures into your operations for better business performance.
3 Ways E-Signatures Can Increase Work Efficiency
In a fast-paced business environment, a variety of factors can affect work efficiency in the office but here are some significant ways that e-signatures can serve as a valuable tool.
1. Wider Reach
An e-signature is a digital, encrypted, timestamped version of a physical signature that proves the authenticity of a document and its contents. It allows you to sign documents electronically, which means you can send and receive them from anywhere in the world.
This widened reach is increasingly important as New Zealand businesses embrace solutions that encourage more flexible working arrangements and business stakeholders can also expect ease of contact through various channels. With the immediacy and convenience of such digital signatures, all parties involved can conveniently sign documents from anywhere, at any time, using almost any device.
2. Minimise Errors
Another benefit of using e-signatures is the ability to automate processes and reduce errors. As digital systems allow for step-by-step guidance and indicate specific areas on documents for designated parties to sign, this limits the probabilities of human errors and mix-ups that can be time-consuming to resolve during audits. An automated workflow with inbuilt functions such as notification and reminders allow employees to keep track of multiple documents and files in a more efficient manner.
3. Time-efficient Performance Upgrade
E-signatures speed up document turnaround and approval time, reducing extensive waiting periods between company departments or third parties. Whether they are invoices, contracts, proposal approvals, agreements or deals, the whole process is completed faster as time is not wasted in tracking down signatures or completing other repetitive administrative tasks. This frees up the employees’ time to work on other valuable projects that can bring in more revenue for the business.
The overall upgrade in performance via the integration of digital signatures also enhances customer satisfaction as they can enjoy smoother and faster business transactions. With the business delivering goods and services faster, more time and resources can be spent on acquiring new clients and building a stronger network.
FUJIFILM Business Innovation’s Digital Signature Solution
With these advantages, digital signatures are becoming the new normal at work globally. If you're looking for ways to optimise resources and increase efficiency in your business, then the DocuSign Digital Signature solution by FUJIFILM Business Innovation will be ideal. This business solution can help with your digital transformation journey here in New Zealand. With this e-signature solution, you will be able to enhance data security, save time and money, as well as streamline your business processes.
At FUJIFILM Business Innovation New Zealand, we are committed to enabling the smooth integration of digital signature solutions into your existing business operations. With online support services, you can look forward to receiving comprehensive support that helps you to maximise productivity and minimise downtime. Reach out to our experienced representatives and confidently take a step towards digital transformation of your organisation here in New Zealand today.
References:
https://books.google.com.sg/books?id=-V4ot1Rbt9gC&dq=1970s+digital+signature&source=gbs_navlinks_s
