A digital signature is a mathematical technique used to validate the authenticity and integrity of a message, software or digital document.
The digital signature can be considered as a numerical value that is represented as a sequence of characters. The creation of a digital signature is a complex mathematical process that can only be created by a computer.
Advantages(benefits ) of digital signatures.
You no longer have to wait for your manager to return from a holiday or conference for that signature. Digital signatures ensure that businesses save on cost and time with documents and contracts signed off with a click of a button. There are huge savings in cost and time especially when the person required to sign is in a geographically different area.
Many companies also see significant cost savings, with little or no expense in ink, paper, printing, scanning , shipping/delivery or travel expenses. There are also savings in other indirect costs such as filing, rekeying data, archiving, or tracking.
With lesser delays, digital signatures ensure better efficiency in workflow. Managing and tracking documents are made easier, with lesser effort and time involved. Many features of the digital signatures help speed up the work process.
4.Better Customer Experience
Digital signatures provide the convenience of signing important documents where ever a customer or the person to sign is located. Sales persons do not have to wait for the customer to come to the bank or office. Documents can be signed off at the door step.
When it comes to signatures, authenticity and security is a priority. Digital signatures reduce the risk of duplication or alteration of the document itself. Digital signatures ensure that signatures are verified, authentic and legitimate. Signers are provided with PINs, password and codes that can authenticate and verify their identity and approve their signatures.
Digital signatures provides authenticity and ensures that the signature is verified. This can stand in any court of law like any other signed paper document. Time stamping and ability to track and easily archive documents improve and simplify audit and compliance.
Digital signatures also hold validity into the future. ETSI PDF Advanced Signatures (PAdES) with its eIDAS requirements have validity well into the future with its long term signature formats. Should there be far reaching technological changes, digital signatures would still be valid for the foreseeable future.
As corporates and business become more conscious of their role in sustainability, digital signatures is a step ahead in their efforts in reducing waste and being environmental friendly.
The costs involved in integrating digital signatures into the work processes is relatively small, compared to its benefits. With quicker contract turnaround time, and reduced the work flow time, digital signatures are ideal for both small and large organizations.
Why & where we use digital signatures
Ø Income Tax e-filling
Ø MCA21 e-filling
Ø SSL Certificate
Ø EPFO On-line Transfers
Ø ROC e-filling
Ø Form 16/Form 16A Signing
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