Last Updated on May 20, 2021 by MoneyVisual
A Digital Signature is a digital code created via public key encryption. It is attached with an electronic document to verify the sender’s identity.
There are numerous digital certificate services available online. Digital Signatures are of three types. They are simple, essential, and advanced, and qualified. The explanations of these types are as follows:-
A simple digital signature is the simplest and the most direct type. No encryption method is used for protection. A prevalent example of this is a physical signature inserted in any document after being scanned by a device.
It is simple but has numerous disadvantages, as it doesn’t show the signer’s identity or the changes made in the document because of no encryption.
Essential or Basic
Basic or essential digital signatures are almost like simple digital signatures. Although the basic digital signature has the upper hand compared with each other, it shows the updates made in the documents. Documents certified under this type still have no legal power as the process doesn’t even go through 2-factor-authentication.
Advanced and Qualified
Advanced and qualified digital signatures are the safest digital signature. It has identical legal power like a wet signature on paper. It has a proper public key infrastructure. It shows the changes or the updates made in the documents and when, where, and what device was used for the procedure.
The changes which are made after the signature can easily be known. The process goes through 2-factor authentication before the signature is completed.
The digital certificate services use these three types of digital signatures for digital certification. Now, let’s discuss the advantages that businesses receive when they use digital signature services.
The Benefits are As Follows:-
Simple to Use
Digital signatures are simple and easy to use. It becomes straightforward for the signer to apply for any document or send it securely after completing the digital signature. The process is complete after the recipient signs. It can be obtained from the convenience of the office.
The high level of security helps the e-businesses as the digital signature has become the top priority. It provides all the information about the sender. The digital signature contains traceable information. This helps in knowing when, where, and what device was used in the procedure.
Convenient to Use
Digital certificate services, when compared to paper-based contracts, have superior benefits. A digital signature provides digital authentication, making it easier and convenient for every business to deal with suppliers from different locations. The process of the digital signature takes less time when compared to physical paperwork. This gives the business agility and edge.
The entire process is completed online. The cost goes down as the process of printing, scanning, and signing goes out of the way. All these cost-cuts help the business over a more extended period.
Digital signatures are adequately authenticated and verify the signatures. This can stand in any court of law as it has the equivalent legal power as any other signed paper. The audit and compliance are simplified by time stamping and the ability to trace.
All the corporates and businesses are starting to understand the effects of harming the environment. Digital signatures help to do everything online, reducing paper usage as no more paper-based contracts are completed. A digital signature is a forward step in reducing waste.
Better Experience for Customers
The customer enjoys the privilege of signing the documents where ever he/she is located. Customers don’t need to go to the bank or the office instead. They can directly complete the procedure from their location. The salesperson doesn’t have to wait as the documents are signed at the doorstep.
Digital signatures services mainly help businesses to reach customers from remote areas and small towns. This allows the customer to get the benefits at the doorsteps and helps the company reach more people.
The benefits discussed above clearly show that the digital signature service is the future. Not only corporates and businesses are enjoying the benefits, but even the customers are enjoying the advantages. Cost-effective, time-efficient, and easy to use are the three main reasons for the usage of digital signature services.