Digital signature has become one of the most widespread and common digital implementations among companies. Its simplicity, security, speed and the advantage of being able to sign anywhere, is facilitating its adoption and acceptance in the business sector.
And this trend continues to grow, according to a study by MarketsandMarkets, where it is estimated that the global market for digital signatures will grow from 4 billion dollars in 2020 to 16.8 billion in 2026, at an annual growth rate of 33%.
However, there is still a great lack of knowledge and trust when it comes to applying this technology. Therefore, we want to give an answer to the big question about the validity and security of digital signatures.
The big question: digital signature’s validity
Since 2014, there is a regulation called eIDAS Regulation, which is applicable in all the European Union countries, and it regulates the types of digital signature and their legal validity, among other things. This regulation establishes a series of requirements for digital signatures to be legally equivalent to handwritten ones. That is to say, if the digital signature tool we use complies with this regulation, we will be legally ensuring the identification of the signer and the integrity of the signed document.
But what are the actual benefits?
Once clarified the validity of the digital signature, you may be wondering what are the actual benefits it brings to businesses.
- Integrity: it guarantees that the signer will receive the same document as the original, without modifications.
- Authenticity: it avoids fraud by guaranteeing that the signer is really that person or entity.
- Non-repudiation: the signer cannot deny having signed the document, since the signature data is unique and exclusive.
- Agility: minimizes the time invested in managing the process, allowing the signature from anywhere, without delays or limitations.
- Savings: eliminates the costs of printing, travel, management, storage, etc.
- Sustainability: eliminates all the paper involved in the process, promoting a sustainable business.
The transition to the digital, paperless signing process has improved operational efficiency, reduced costs, streamlined decision-making processes and had a positive impact on the environment.
If you have not started the digital transformation process of your company yet, digital signature can be a good first step.
Now that you also know the main advantages of the digital signature, we can help you implement it.
How we can help you
Our tool Docuten will allow you to digitally sign your documents anywhere, anytime through a very intuitive and easy to use platform. Docuten offers all the signature types outlined in the eIDAS Regulation, so that you can choose the one that works best for your company safely. Want to see it for yourself?