In today’s podcast, we are going to cover the benefits of digital signature. Like in every podcast we do, lets address the W’s of the same:
What is a Digital Signature? If you want the textbook/google definition – then it is a mathematical technique used to validate the authenticity and integrity of a message, software or digital document.
In simple words, Nowadays its equal to the handwritten signature with a stamp across the documents.
Is it safe to use digital signatures?
To answer this question, it comes with an inbuilt security to solve the problems of tampering and impersonation in digital communications. In addition, it can give assurances of evidence of origin, identity and status of an electronic document.
Which countries practice Digital Signature?
In many countries, they have declared digital signature are legally acceptable including United States, Brazil, Japan, South Africa etc. & now in India as well it is has been made completely acceptable & legal.
Types of Digital Signature?
There are three types – Class 1,2 & 3.
Class 1 – Cannot be used legally as it is validated based on email id & username. It can be used for low risk areas.
Class 2 – Used for E-filing of taxes, including income tax returns & GST returns. Class 2 digital signatures authenticate a signee’s identity against a pre-verified database.
Class 3 – The highest level of digital signatures. Class 3 signatures require a person or organization to present in front of a certifying authority to prove their identity before signing. Class 3 digital signatures are used for e-auctions, e-tendering, e-ticketing, court filings and in other environments where threats to data or the consequences of a security failure are high.
What are the other benefits?
It saves costs & is also environment friendly
It helps manage time better (instead of taking print outs, signing, then stamping, couriering etc.) – saves environment & time
Globally accepted & legally complaint
It can be retained for long time and accessible wherein papers tend to be lost or damaged
Independent verification regardless of the dependency of other requisites like stamp & seals. Makes life easier & faster.
It also can be accessed from anywhere and at any time
We are going to show you how it is done now in SAP Business One? Like i said in my previous Google Voice Integration Podcast, this is the fun part 🙂
Now that we know, government has legalized the digitally signed documents.
For all the documents that needs a digital signature from the system or if you want to send digitally signed signatures after approval (automatic) – we can do the same in SAP Business One.
To show you here, am approving the same & the document is signed digitally as set in SAP Business One – the document looks like this one here! (Watch the video link)
Now, make use of this digital enhancements provided by our government to your company’s advantage and go paper-less 🙂
Watch out for more innovative podcasts from Avaniko. If you are interested in the pricing of this integration – please do not hesitate to contact us.