Why should startups Invest In Digital Signature Solutions?

Digital Signature Solutions prove to be one of the best practices of cost reduction. Rather than merely being a cost-effective solution, digital signatures as a paperless offering holds a higher potential to attract business prospects.

What are Digital Signatures? How does it work?

Digital Signatures are a specific type of electronic signature that uses a form of a coded message to securely associate a signer with a document. The security is kept intact with the help of a standard format called the Public Key Infrastructure (PKI), which includes a digital certificate for identity verification.

As per the Government of India’s initiative to increase transparency between common man and government operations, Digital Signatures are deemed to be as legal as handwritten signatures under the IT Act, 2000. You can create digital signatures online by registering for a DSC by directly applying in the online portal of a Certifying Authority.

Refer to  “What is a Digital Signature and How it works?” to read at length.

Startups need to focus more on their growth and dealing with the tedious and lengthy process of documenting, it can snap away a lot of their precious time. Simple, secure, and efficient - digital signatures help in easing the process of documentation. Here are 9 advantages of investing in digital signature solutions:

1. Time Saving

Physically signing, printing, transferring documents and even storing them can be tedious. With digital signatures, you can sign a document in one click, send it securely through an online medium, usually email, in a matter of seconds. Storing digital documents comes with the benefit of security, ease of retrieval and no fear of any kind of

Damage.

2. Cost Effective

Signing and digitally sending a document hardly costs a penny. It helps cut the cost of paper, ink, printing and shipping. The initial cost of a signing software and DSC might appear costly, but it is very cost effective in the long run.

3. Better Customer Experience

Providing convenience and faster interaction to customers is a priority for Startups. Businesses now have increasingly shifted online because of this convenience. The expectation of every customer now is a company which responds in speed and is reliable.

4. Environment Friendly

Going digital means you’re going paperless. Isn’t this your “go green” initiative to show some love towards your environment?

5. Legal Compliance

Digital signatures come with an electronic code, a standard format called the Public Key Infrastructure (PKI), which is legally accepted and universally endorsed by many governments. The use of the PKI mechanism has elevated the use of digital signatures and it has been given the same stature as physical signatures under the IT Act, 2000.

6. Security

Forgery of physical documents is very easy and is a common crime. The PKI mechanism in a digital signature not only prevents any such event, but also provides you information about the origin, what time it was signed and the location of the signer.

7. Speedy ROI

Startups might at some point feel the initial process of setting up and implementing a digital signature to be tiresome, the cost might also look pricey but you’ll understand the benefits once you get good return on your investments. With the ease of use in multiple features like bulk signing, signing and mailing, password protection, etc, Startups can save a lot of time, money and manpower, and divert their energy in looking after other important sectors in their business.

8. Optimized Workflows

The signing, transferring, and processing of digitally signed documents happens within an integrated workflow. The PKI mechanism helps embed digital signatures in a highly customizable workflow.

9. API Integration

Digital signatures come with the seamless integration of the PKI mechanism which ensures that the components of a digital document are secure, authenticated and its confidentiality is maintained throughout the process of transaction.

Organizations around the world have adopted the online way of smoothly running businesses, and in a fast paced world, it is very important to adapt with these constantly changing business dynamics. Digital signatures help Startups in many ways than just one, to boost their growth journey and help them deliver the best in their new venture.