The process of digital document signing is a digital way of making a signature on the electronic document showing your consent to the document and the content mentioned in it.
Making a digital signature is more like leaving a digital marl or fingerprint on the document that is uniquely attached to the signatory and can be used to identify the person who has signed it. A reliable app for signing documents is always in compliance with legal regulations and hence promises the validity of the electronic document and the signatory's identity. Digital signatures also provide proof of identity and the progress of the document. It also ensures that the data and the document signed by the signatory has not tampered with the total signing process.
What is a digital signature?
It is a type of electronic signature where the concerned software uses a mathematical algorithm to authenticate the integrity of a message. As said above, a paid or free electronic signature app creates a virtual mark on the document which is uniquely connected to the signatory and also protects the digital message to ensure that no disturbance or fraudulent activities occur when the thein the process and even after that. Electronic signatures are relatively more secure and reliable.
What makes digital signatures secure?
Digital signature solutions use public-key cryptography technology. This technology uses two keys, one private and another public. This is also called a key pair system. The private key is available only to the person who has signed the document, and it encrypts the document and the content in it. On the other hand, the public key is used to decrypt the document, and it stays with the receiver of the document. However, in order to have the respective keys, both the parties have to register for a digital certificate, which allows them to connect with the signature.
Public key cryptography assures the parties of the security, accuracy, and validity of the document. Encryption is the way of encoding data and sending it to the receiver. The data is sent to the receiver in a form that only the receiver can decode. Authentication is the process of ensuring that the data sent is genuine and does not tamper with the journey.
In traditional handwriting, every signature is unique. In the same way, every esignature maker is allowed a unique identity by a service provider. When this signatory makes a signature, his/her identity is authentic and encrypted with cryptography technology.
How to create a digital signature?
Digital document signing makes sure that the process of electronically signing the documents is easy and safe. This software offers a secure platform for sharing and signing digital documents and is in association with appropriate certification authorities to add an element of trust in the process.
The Certificate Authority decides the type of data the user might have to provide. The certificate authority also provides some rules which are applicable to the parties to whom you are sending the document for signatures. These rules also depend on the platform you will be using to share the document.
For example, if you are receiving a document via Email, then you will have to follow the rules and regulations given by the certificate authority and authenticate your identity. Only you can make the signature and proceed further.
How digital signatures work?
By now, you must have got an idea of how digital signature solutions work. However, let us understand the process in detail here. When you use an e-signature solution, a mathematical algorithm is Run to create a public key and private key. These keys are connected to each other. When a signatory makes a signature on a document, the algorithm encrypts the document. Data available and related to the signed document is called a cryptographic hash. This hash is nothing but a fixed-length string generator from the mathematical algorithm. A cryptographic hash is unique to the document. It is a one-way function that cannot be reversed. Only the person who has signed the document has access to the private key, and this private key is used to encrypt the document data.
This encrypted data is then transferred to the receiver, and it can be decrypted only through the public key of the signatory. When the receiver gets this hash, he also gets a copy of the public key, which he uses to decrypt the signature. Here cryptographic hash is once again created by the receiver. The cryptographic hash from both the sender's and receiver's side are checked to validate the authenticity. If these hash matches, then the document and the process are considered as valid. Certificate authority makes sure that the key generation and the signature take place in a secure environment. Digital certificates hold the public key of the sender and are signed electronically by the certificate authority.
Now that we have understood the digital signature process in detail and have seen how apps for signing documents function, let us know have a look at how Digital signatures solutions make it easy to track the document.
Above, we have discussed in detail how multiple sectors across the globe are getting attracted to e signature solutions and how they function. We have read about digital footprints encryption-decryption mathematical algorithms and the authentication process that is used by the certificate authority to validate The Identity and to ensure that the process is conducted in a secure technological environment.
However, there are many individuals and organizations which are still afraid and unsure about the security of digital signatures. To those who have doubts, here is a fact. App for signing documents use Public Key Infrastructure (PKI) that offer high standard security measures that are hard to break or duplicate.
Electronic signatures bring ease and smoothness to office paperwork and make it efficient. There are different laws, both international and country-specific, that rule this process. Across the world, including the EU, North America, and APAC, electronic signatures are considered legal. These countries have given them the same value and effect as the traditional form of signature.
No matter which sector your organization operates in, what kind of work you perform, be it sales, human resource, accounting, finances, marketing, production, manufacturing, you name it, it is always irritating and tiring when you have delay everything else just because a process of getting a document signed is taking time (sometimes days/months). If you lose or make errors in the internal document, the effect of it might not be lasting. But in case you operate in a sector where high value is always at stakes, such as healthcare, finance, or insurance, then even a small mistake or a short delay can make or break the deal. If any document gets lost in the email thread, it might cost you somebody's life too.
Traditional Signatures are slow.
If you are signing the document in a traditional way, then there are chances that you have no idea about the time the whole process is going to take, whether every concerned party has signed it or not, and where your documents will be stored. Basically, once the document is shared for the signature, it is in limbo.
Suppose you share the document via courier; the maximum degree of security you have is you get a notification from the courier company when it reaches the address. However, many times, couriers do get misplaced and lost.
As per one study, if any document is not signed within 24 hours, 3/4th of the time, the document will not get signed at all. As a solution to this, Digital signature solutions were created. Online signature pricing is also low as compared to the overall traditional dog store process in the long run.
Electronic signatures show us where the document is in real-time. You can know who has signed the document at what time on which date and who is yet to make the signatures.
Here’s are a couple of specifications that make the documentation process easy:
Once you share a document with the concerned parties for the signature, your work is done. You do not have to remind them and keep in touch with them constantly to get the documents signed. Automatic notifications will be shared with the parties to remind them of the signature. As and when any party signs the document or raises the concern, you will be notified in real-time. So the software does the heavy lifting.
Tracking is Made Easy
E-signature solution makes tracking easy, fast, and smooth. The dashboard of the software will give you an exact idea of where the document is. Easy tracking maintains complete transparency about the location of the documents.
Easy tracking of the documentation process and signing process is one feature of the e-signature solution. There are many other features that can be used to lead a hassle-free workflow.