Corporate Digital Signatures and the Leading Benefits Not Everyone Knows About

The emergence of digital signatures for businesses has created significant transformations in the paperwork procedures of every company. Many business owners still believe that digital signatures are only applicable to taxes, electronic invoices, social insurance, and commercial contracts. However, the benefits and functions of digital signatures extend far beyond that. In the article below, 1Office will share the top benefits of digital signatures that not everyone is aware of.

What is a corporate digital signature?

A corporate digital signature is a form of electronic signature. It is created to encrypt data with a message using asymmetric cryptography, where the recipient of the data message can use the signer’s public key to accurately identify the signer. Digital signatures comply with the strictest legal regulations and provide the highest level of assurance regarding the signer’s identity.

Pursuant to Clause 6, Article 3 of Decree 130/2018/ND-CP guiding the Law on Electronic Transactions regarding digital signatures, electronic signatures, and tokens, there are currently 2 types of digital signatures being used in Vietnam:

• Digital signature using a USB token. Each signature is encrypted in a USB device. This is a hardware device used to generate the public and private key pair and store the business’s information.
• Tokenless digital signature. Also known as a remote signature or mobile signature. This type of signature allows users to sign directly on mobile phones or tablets, and can even authorize multiple people to sign at the same time, offering high and fast processing speeds. It does not encounter hardware device errors like USB token signatures.

Top benefits of corporate digital signatures that not everyone knows

Ensures absolute information security for corporate digital signatures

Many people believe that digital signatures cannot be as secure as physical seals and handwritten signatures. This is due to concerns about security in transactions. However, digital signatures are based on Public Key Infrastructure (PKI) technology using the RSA public-key encryption algorithm. This technology helps to verify the identity of the signer.

Saves costs for the business

Using digital signatures means that costs for printing documents, materials, and storing records are significantly reduced. Businesses can use these savings for other, more meaningful purposes.

Saves storage space

When issuing paper records and documents, any organization must invest in storage facilities, equipment, and personnel for preservation, retrieval, and lookup. With electronic documents, storage is much simpler and more cost-effective, as all data is stored on electronic devices or through cloud storage services. Preservation, lookup, and retrieval are also carried out very simply and efficiently.

Easy comparison and retrieval

Digital signatures help businesses easily trace the origin of important documents, not only for internal records but also for signed contracts, vouchers, etc. Each corporate signature has a unique code and is stored on the company’s main server as well as government servers. Therefore, searching to compare and trace the origin of a signature is extremely fast and easy.

Saves time on administrative document processing

Using digital signatures on electronic documents helps reduce the time and effort spent on paperwork for the business and related departments. Instead of having to print, store, and manually sign each document. Users can sign multiple electronic documents at once right on their computer and send them directly to leaders, partners, customers, etc., via the internet.

Ensures legal validity in electronic transactions

Since each digital signature is encrypted and the author’s identity can be easily verified, digital signatures play a crucial role in establishing the legal validity of electronic documents. The use of digital signatures in electronic transactions is considered the basis for affirming the legal value of electronic documents, making them equivalent to paper documents. Therefore, the digital signature is currently considered the only method to determine the legal validity of an electronic document.

Prevents the possibility of signature forgery

According to expert research, the probability of forging a handwritten signature can be as high as 55-70%. As for digital signatures, which can be verified with public-key encryption, forgery is nearly impossible.

See more: 1OFFICE LAUNCHES 1CA DIGITAL SIGNATURE FEATURE

1Office – A superior digital signature solution integrated into your workflow

1Office has launched a Digital Signature feature that is integrated directly into the workflow to help businesses achieve comprehensive digitalization. This new feature helps businesses:

• Digitize business operating procedures: The system will automate the signing and submission workflow. From there, businesses can perform simple and easy operations on the centralized management software. In addition, 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 for convenient signing.
• Centralized storage: The 1Office software allows for the storage of all documents and records by relevant groups on a cloud platform. This makes it easy for departments to manage and search for documents. The software can easily extract one or more vouchers. 1Office’s 1CA helps minimize the risk of scattered documents and ensures absolute information security.
• Optimize operations – accelerate digital transformation: Businesses can apply digital signatures to a variety of different documents: internal documents, labor contracts, etc. The system ensures speed, flexibility, and continuity in all aspects, from administration, finance, and sales to human resources. Businesses can build a closed ecosystem that helps them operate steadily, regardless of the working model.

Digital signing – sign anytime, anywhere from the 1Office software

The 1Office platform with 3 modules, HRM, CRM, WorkPlace, and integrated with a digital signature feature, will help businesses accelerate their digital transformation journey. For your business to own the #1 comprehensive business management platform in Vietnam, register for a consultation from 1Office now: