Digital Signature Application – a solution to optimize business costs

Digital signatures are known as a tool to support declaring, submitting declarations, and paying taxes electronically… However, today, digital signatures play a role in transforming almost all of a business’s or organization’s data into electronic data. Therefore, the application of digital signatures is one of the top priorities for businesses. Let’s explore with 1Office how digital signatures are applied in businesses!

1. What is a digital signature application?

Clause 6, Article 3 of Decree 130/2018/ND-CP detailing the Law on Electronic Transactions regarding digital signatures and digital signature certification services clearly states:

“A digital signature is a form of electronic signature created by transforming a data message using an asymmetric cryptography system, whereby a person who has the original data message and the signer’s public key can accurately determine:

• The aforementioned transformation was created using the correct private key corresponding to the public key in the same key pair;
• The content integrity of the data message since the aforementioned transformation was performed.”

See more: 4 common types of digital signatures today and how to distinguish them in detail

2. What are the applications of digital signatures in businesses?

2.1 Electronic transactions with state agencies that require the use of digital signatures

In some special cases, businesses are required to use digital signatures to conduct transactions as prescribed by law:

• According to the provisions of Clause 4, Article 1 of Law No. 21/2012/QH13 issued on November 20, 2012, amending and supplementing Clause 10 to Article 7 of the Law on Tax Administration No. 78/2006/QH11, from July 1, 2013, businesses located in provinces/cities with information technology infrastructure are required to declare taxes online.
• According to the provisions of Decree 119/2018/ND-CP, Circular 68/2019/TT-BTC, and Resolution 01/NQ-CP, businesses are required to use electronic invoices.
• According to the provisions of Decision 838/QD-BHXH, businesses/individuals are required to register, declare, and submit electronic insurance reports.

2.2 Digital signatures can be widely applied in business operations

Digital signatures can be used to replace handwritten signatures in all cases of e-commerce transactions in the digital environment, including:

• Using digital signatures in email transactions, signing emails so your partners and customers know you are the sender.
• Using digital signatures for online payments and money transfers without the risk of money being stolen as with VISA or Mastercard accounts.
• Partners can sign economic contracts completely online without meeting in person, just by signing the contract file and sending it via email.
• Used for online tax declaration and payment, customs declaration, and online customs clearance without spending time printing declarations, getting them signed and stamped by the company, then queuing at the tax office and waiting to submit them.

Businesses using digital signatures allow document signing to take place anywhere, not limited by geographical distance.

3. Benefits of applying digital signatures in businesses

3.1 Optimizing costs and time

In the process of business operations, the use of digital signatures becomes an essential need. This is because digital signatures help businesses optimize their work processes. Documents, contracts, and materials are digitized. Businesses will no longer have to spend money on printing, storage, and retrieval activities. In addition, when applying digital signatures, businesses find it easier to conduct e-commerce transactions, ensuring information security while saving effort and travel time for paperwork procedures.

3.2 Absolute security

The technology behind digital signatures is based on Public Key Infrastructure (PKI), where the most important part is the RSA public-key encryption algorithm. With this technology, it is ensured that a digital signature created by a user is unique, cannot be forged, and only the owner of the private key can create that digital signature.

3.3 Easy traceability

Digital signatures help businesses prevent fraud in administrative or financial transactions. With the public key encryption system, the document is encrypted with a private key that only the owner of the digital signature knows. When verification is needed, the recipient of the document will decrypt the received document. If the two values match, the document originates from the key owner.

4.1Office’s 1CA digital signature application

Unlike standalone digital signature software, the digital signature feature is integrated directly into the 1Office ecosystem. This enhances benefits and the customer experience. So, what can businesses optimize by using 1Office’s digital signature?

4.1 Digital signatures help connect business operations

The 1Office software provides businesses with a closed ecosystem that includes HRM, CRM, and Work Place features. Now, the connection between these operations is even tighter with the application of the corporate digital signature feature. Forms and documents can be signed and approved easily, almost completely eliminating the need to print, stamp, and store physical documents.

Additionally, the system supports automatic notifications from approval to signing for all relevant parties in the workflow. It allows for the customization of forms, vouchers, and documents on the system to facilitate signing.

4.2 Use digital signatures on all types of documents 

Businesses can use it for a variety of documents, such as internal memos, labor contracts, and commercial contracts. Signing and approving documents within the operational workflow can be done quickly and conveniently while ensuring legal validity and security; making them easy to track, manage, and store without direct physical contact.

4.3 Sign multiple documents simultaneously to save time

How to use a digital signature is extremely simple, allowing you to sign up to hundreds of documents at once. This is an incredibly practical feature that helps leaders handle internal tasks quickly, in just 1/10th of the time it would take manually. As a result, leaders can focus on more important business strategies.

4.4 Centralized storage

The 1Office software allows for the storage of all documents and records by relevant groups on a cloud platform. From here, departments can easily manage and search for documents. The software can easily extract one or more documents. 1Office’s 1CA helps minimize the risk of scattered documents and ensures absolute information security.

To get the superior 1CA digital signature application that helps your business optimize management costs and achieve breakthroughs in business, please leave your information, and 1Office experts will contact you for a consultation: