Incorporating Digital Signatures into your business

 With the rapid adoption of digitalization, more and more businesses and organizations are fully embracing digital transformation and technologies as the world continues to plow through the COVID-19 pandemic. Everyone is trying to stay ahead of the game by opting for digital solutions that are simple yet effective.

In recent years, the Philippines’ economy has made stride in delivering inclusive growth. As a result, poverty fell from 23.3% in 2015 to 16.6% in 2016. However, the impact of COVID-19 has stalled this upward trend with negative assumptions for poverty mitigation in the Philippines. Nevertheless, resuming growth and evolving digitization may reverse this negative trend once more.

Digital transformation plays a key role for most companies, and digital signatures are one area that presents an opportunity to push this strategy. Even today, unfortunately, countless man hours are wasted in chasing signatures and approvals and printing, scanning, and e-mailing documents. This article will give you a brief about how implementing digital signatures in your business can help you strengthen your business presence after the COVID-19 pandemic.

Electronic documents and signatures are legally recognized in the Philippines, but the law that authorizes it needs to be updated. The Electronic Commerce Act was signed 20 years ago and states that documents with signatures in electronic form are treated as the legal and functional equivalent of paperbased documents. However, when a notarized document is required by law, for example, tax returns, corporate documents submitted to the Securities and Exchange Commission, etc., many application processes have practices that still require the submission of paper-based documents.

The bright side of electronic signatures is that they are far more credible, convincing, strong, and safe and can easily be implemented for any signature-related daily tasks. Digital signatures offer security that guarantees that the documents have not been tampered with. It can be applied to:

Legal contracts: Board resolutions, Confidentiality agreements, etc.

Human Resource Documents: Offer letters, Performance evaluations, NDAs

Academic Documentation: Student application processes, School leaving certificates, Progress reports, etc.

Marketing and Sales Documents: Product Design Sign-offs, Purchase Agreements, Invoices, etc.

Before opting for a digital signature solution, you must look into the following aspects:

● What is a Digital Signature?

● Are Digital signatures legally binding in the Philippines?

● How to smoothen the process of digital signature implementation?

● Benefits of Digital Signatures

Designed for the modern, distributed workforce, Exela’s DrySign is the simplest way to sign your documents. It is time to add DrySign to your existing workflows and extend a simple, easy-to-use, fast and cost-effective digital signature experience to your customers.

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If you want to learn more about DrySign, Click Here.

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