Digital Signatures — Myths and Facts!

Digital signatures have been widely accepted globally for over two decades now. An unprecedented pandemic followed by crippling lockdowns further accelerated the adaptation of electronically signed documents for business, government, and individual usage worldwide. The global market for digital signatures is projected to reach a size of US$13.9 Billion by 2027.

Although, evidently, there is an upward trend in the use of digital signatures for everyday operations, there are still several myths that circle this technology. A large portion of global business sections is apprehensive about the security and legal validation of digital signatures. According to a Research Survey conducted by airSlate, a little over one-third of their survey group had concerns regarding privacy and legality.

Digital Signatures — 4 Myth Busting Facts

Myth: Digital signatures are not legally binding.

Fact: Digital signatures enjoy the same legal status as traditional wet-ink signatures. If consent and intent can be proven with solid evidence, just as one would need to with a physical on-paper signature, then your e-signature is legally binding. In the Philippines, a viable and trustworthy e-signature solution would have to comply with the Electronic Commerce Act 2000 and the Republic Act №8792.

Myth: E-signatures are not secure enough for highly sensitive documentation.

Fact: Most reputed digital signature platforms use encrypted technology to protect and secure the documents that are uploaded on their cloud-based storage. The use of complex algorithms, audit trails, timestamps, and for the best platforms, Public Key Infrastructure or PKI Technology make digital signatures remarkably secure and safe.

Myth: Digital signature workflows are complicated.

Fact: Technology has progressed so fast making all our lives easier, simpler and faster. That is exactly what a good digital signature solution must do for its users. Easier than online shopping, you can now sign documents with a few clicks, securely and faster than ever before.

Myth: Digital signature solutions are expensive.

Fact: Digital signatures are a highly cost-effective solution. A small investment in an e-signature platform would mean savings on paper, ink, printers, administration, shipping, and subscription costs other logistics. Businesses can bring between 55% to 78.62% increment in total savings by making the switch to e-signature solutions.

Where do you find a digital signature that can solve all your above concerns and give you more? Look no further as DrySign provides you with exemplary features, a smooth user experience, and the highest flexibility. Here is a quick look at some of the best features of DrySign.

Legally Compliant

Smart Dashboard

Powerful Audit Trail

Custom Notifications and Reminders

Group Sign

Still not convinced? Click here and read our full guide to using electronic signatures legally in the Philippines and make the switch to a smart, cost-effective, and sustainable solution, TODAY! 

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