The pandemic has rendered many companies to opt for a work-from-home setup, which means paperless documents are more relevant than ever. And since many office workers prefer this setup, it seems it’s here to stay. But how do you take care of official documents in a paperless arrangement? Here are the most frequently asked questions about the electronic signature.
1. How does an electronic signature work?
When you create an electronic signature, the public key algorithm generates two linked keys. One of these keys is private, owned by the creator of the signature to encrypt its data. The other is public, given to any document recipients to decrypt the data. Since the public key algorithm randomly generates these keys, unauthorised people cannot access your documents. Because of this, both parties must trust each other and not share the keys around. If not, a third party could do unauthorised digital signings with the private key.
2. How do you get an electronic signature?
The best and safest way to get an electronic signature is to go to a digital signing solution provider. They can generate public and private keys for you with legally-approved technology. They also provide an interface for you to sign and send documents to other parties. Take note that you or your company must have a digital certificate to create an electronic signature.
3. What’s a digital certificate?
It is similar to a person’s official ID in that it helps identify the holder. A digital certificate has a public key and identifies who owns it, whether a person or an organisation. Any electronic signatures created will be associated with this digital certificate so that authorities know who owns the signature.
4. What are the benefits of an electronic signature?
There are many benefits of switching to electronic signatures for your documents, including the following:
Digital signing creates a timestamp, which is helpful information, especially for legal proceedings, stock trades, and other events.
It is cost-efficient, as you no longer have to rely on paper that costs money and time to produce, store, and transport.
It is legally acknowledged and accepted, so all documents with a virtual sign can be legally binding.
A paperless setup makes it easier to keep track of changes to the document because of the audit trail. It’s also much harder to lose the file since you can store it online.
Does your company need a digital certificate for digital signing? Contact Dedoco, one of the most secure digital signing solutions guaranteed to comply with the latest protocols and data privacy laws.
