If your enterprise is still using the postal system and couriers to complete documents with signatures, you might consider a simpler option that offers improved security. Gaining ground amidst the recent pandemic, digital document signing is becoming an ever more popular option for firms looking to save time and money. Ideal for completing contracts remotely, or for signing off invoices, purchase orders and compliance forms from anywhere in the world when work or holidays take executives out of the office, digital signing can streamline your workflow and is easy to set up.
Read on for an in-depth look at why many businesses are taking a digital approach to document signing.
What is a digital signature?
A digital signature is effectively a kind of electronic signature. It is actually a mathematical algorithm typically used to validate the integrity and authenticity of a digital document, email message or payment card transaction. Digital signatures provide a virtual fingerprint unique to a person and can be employed to identify specific individuals and protect any information contained in digital documents or messages.
How does digital document signing improve workflow?
Unlike more traditional methods of signing documents, digital signatures can be completed on desktop computers using a browser, or on personal devices, such as mobile phones and tablets. This means that they can be added at any time of day and from any location around the world, making it a far more convenient option that facilitates faster processes.
Document management is also far easier for staff members, who can track document changes and receive alerts when signatures have been added.
How can digital signing save companies time and money?
Sending documents by post or even express courier can take days, but adding a digital signature to a contract or sales order will take seconds. As mentioned, it’s also far easier for employees to manage documents, meaning they can put their time to better use.
In terms of expense, those adopting this modern method can enjoy avoiding the cost of expensive printer cartridges, reams of paper and renting printers for their premises. They can also sidestep the expense of a franking machine, postal rates for recorded and special delivery or costly next-day secure couriers.
Perhaps the greatest cost saving for companies using digital document signing is its ability to protect firms from data breaches. As digital documents can be encrypted and only accessed by their intended recipients, companies can ensure that their confidential communications and contracts are never compromised.
Data breaches and leaks can be exceptionally expensive incidents for companies. If a firm is found to have taken inadequate measures to safeguard the personal information of data subjects, it can face heavy financial penalties. Additionally, individuals whose data has been disclosed may also seek financial compensation. Companies will also need to conduct costly forensic investigations to determine the cause of a breach, and they face disruption and system downtime before they can return to normal operations. Often, firms will need to purchase a solution to ensure the event does not occur again.
Finally, the most expensive part of a data leak can be the long-lasting damage to a firm’s reputation, resulting in loss of business and a drop in value on the stock market.
Using digital signing that is approved by data regulators means that you will always be able to prove you took the maximum amount of security precautions to safeguard any content exchanged.
Why is digital document signing so secure?
Electronic document signing allows you to use and retain an end-to-end audit trail, making the journey of your documents fully traceable and entirely transparent to you. Unlike documents sent by regular post, those requiring a digital signature are completely tamper-proof. If the contents of a document have been altered, all parties involved will be alerted to any changes made. Documents signed digitally can also be encrypted, making them decipherable only to their senders and intended recipients, ensuring complete confidentiality is guaranteed.
If a document is sent to an incorrect email address in error, intercepted by a malicious operator or stolen from an inbox by a hacker, its contents will be protected by the encryption. Digital signatures can be quickly and easily verified, ensuring only those with the appropriate access rights can view or interact with sensitive documents.
How can digital document signing improve a firm’s reputation?
Faster and more efficient, using digital signing will allow you to process requests, sales and interactions with your client base smoothly, improving your relations and earning you a professional image. The enhanced security offered by digital document signing can also offer those you deal with peace of mind, safe in the knowledge that you put their privacy and personal data first.
From world governments to members of the public, there is an increasing concern with taking an ethical approach to business, and this extends to the way it impacts the environment. Signing electronically avoids the need for conventional printing materials like paper and toner, as well as transport emissions from couriers, making it a far greener option. This can earn your firm a reputation for taking its environmental responsibilities seriously and being a forward-thinking company.
How can you start using digital document signing today?
If you’re looking for a simple but secure way to start signing your documents digitally, at Galaxkey, we can help. Our secure system offers companies a user-friendly electronic sign feature that isn’t hard for staff to master. With no size limits, you can send large documents and be sure that only their intended recipient can view them. All documents can be completely encrypted to ensure that only unauthorised individuals will be able to decipher their contents. Our innovative tool can be used on a wide range of devices and operating systems, offering maximum flexibility for your firm.
Whether you run an international operation, have teams working remotely or are just looking to keep compliant with data regulators, test drive our electronic document signing with a free two-week trial by contacting our expert team today.