There’s no denying it: technology is changing how we do business.
And digital signatures represent one of the fastest growing forms of these advances.
It’s easy to see why.
Paper-based signing processes drain productivity and increase costs.
Signers are forced to print and scan documents, potentially adding days to the workflow.
If multiple parties are required to sign, the process is frequently plagued by the delays that come with missing information and manual follow-ups.
Remote, online signing eliminates this hassle, and it’s paying off:
Sales teams report shorter sales cycles.
Firms record faster placement for new hires.
By 2025, it’s expected the global digital signature market will reach $5.5 billion.
This growth underlines the need for methods to validate and secure signatures; organizations who don’t are vulnerable to digital dangers and contract disputes.
These new threats are growing, as almost anyone can easily access an online PDF editor at no cost.
Savvy organizations know if they want to embrace the future of online signing, they must put security first.
That’s where digital signatures come in.
What are personalized digital signatures?
A digital signature uses mathematical algorithms to encrypt documents.
Public Key Infrastructure (PKI ) is the protocol that creates digital signatures; it provides the highest level of security.
A digital signature provider, like Secured Signing, uses PKI technology to generate two personal signing keys for each user – a private key and a public key. No one user has the same set of keys.
Using these technologies, digital signatures deliver non-repudiation. There’s built-in proof of the signer’s identity, the signature origin and time stamp of the signature.
Document’s Data Integrity
The digital signature is unique to the document’s content and tied to the signer. Therefore, the signature can’t be copied and paste to another document.
Digital signature providers like Secured Signing give you the ability to include a reason for signing within the signature block to capture singer intent – critical for business transactions.
How Are Digital Signatures Verified?
When you sign a document, your identity is embedded into that data, and a unique fingerprint – including a timestamp – is encrypted into the signature.
Here’s a glimpse at what’s happening behind the scenes:
- Dave wants to send Donna a document he has digitally signed. Dave’s signature is created using his private key.
- The private key is encrypted the document’s hash along with a timestamp. Dave’s public key travels with the document.
- Donna uses Dave’s public key to decrypt and verify his signature.
If the document is altered, it is no longer valid, and the digital signature is invalid, too.
What is the Difference Between Electronic Signatures and Digital Signatures?
Electronic signatures and digital signatures are often confused.
One type of electronic signature is merely an image of your signature that can be copied and pasted. And anyone could edit a PDF you’d signed – without your consent or knowledge.
Take Your Business Into the Future With Digital Signatures
Mike Eyal, Managing Director of Secured Signing, said building trust was a competitive advantage in the digital economy.
“For a modern business, offering secure and simple ways to sign online is key to succeeding in our new digital world. Digital signatures prevent forgery, prove authenticity, and build trust into the system. With Secured Signing, businesses get access to an all-in-one solution to document security.”
Sign up with Secured Signing today to protect your business and your clients.