Security is a priority for private companies and government agencies, which make considerable investments to secure electronic documentation.
However, electronic documentation can be considered parallel to legal paperwork on the affixation of Digital Signature Benefits.
A digital signature can be defined as an electronic signature unique to each person, requiring prior authorization, validation and application.
It enables the reader to validate the sender’s identity, prevent non-repudiation and prevent modification of a signed document.
Among other developers, Java J2ee Development is a trustworthy option to ensure complete security and performance for your digital signature.
What is a digital signature?
Keeping in with the earlier definition, a digital signature uses the standard Public Key Infrastructure (PKI) format to associate a signer with a document in a recorded contract.
A reader provides the PKI with a mathematical algorithm which generates keys, one public and one private. The signer creates an electronic signature using their private key, which is always kept secure.
The mathematical algorithm then creates new data matching the electronic signature and encrypting the data. The digital signature is marked with the time of its creation and is considered invalid if the document changes after signing.
Top 8 Digital Signature Benefits
Like other forms of technology, a digital signature comes with several advantages. Thus, it also gives you an edge over lengthy paperwork and loss of time and money.
#1. High security
Security is of paramount importance, which is why developers use unique signing keys for every procedure. Your identity would be verified by a third party, which only allows you to use your private key.
Similarly, the receiver would be assured of the authenticity of your signature on a document signed by you. A digitally signed document identifies you as the signatory, which is considered non-repudiation.
Changes made to the digital certificate are quickly detected, which dissolves the digital signature’s importance. Moreover, all the parties related would be notified of the change.
#2. Hash check
As mentioned above, parties would be informed if the digitally signed document is tampered with. Documents sent by couriers run the risk of loss or being tampered with unnoticed.
If you open such a document, a hash check compares the content made when the document was signed to the present document. Any slight unauthorized change made to the document would show an error message.
Though the hash check does allow authorized changes, it does inform the future reader if unauthorized changes have been made to the document.
#3. Reliable audit trail
Once the digital signature process is completed, an audit trail will be sent to all the involved parties. Thus, the digitally signed document can be tracked and located for security purposes.
The registered information thus becomes a reference to check the following information concerning the signing of documents and other confidential information.
The audit trail report can also be produced later for audit purposes, like in case of a dispute.
#4. Time- and cost-effective
Companies require Digital signatures to allow a faster approval process with digital efficiency. You are spared the costs and time required for printing, scanning, binding and document storage.
Therefore, the overall signing contract process can be hugely sped up, which would lessen staff workload and budget. As a result, one can improve operational efficiency and increase competitiveness and service levels.
#5. Environmentally friendly
Due to digital efficiency, one can be assured of compliance assurance, reduced mitigation risk, data quality and proper long-term storage of files.
Contrary to conventional storage methods, the digital signature is an environmentally friendly option as they save paper, reduces power consumption and less dependence on carbon-producing services required otherwise.
#6. Hassle-free procedure
The digital signature process doesn’t require downloading or installing any hardware and software. One can easily create a digital signature on a personal computer, cell phone or Mac to sign their documents at their convenience.
#7. Universal legal compliance
Digital signatures comply with universal e-signature laws, which make them legally valid and binding as legal documents on paper.
Most digital signature developers conform to ESIGN and UETA (USA), Electronic Transactions Acts and Europe’s EU VAT Directive, among others.
#8. Third-party time-stamp
Date and time regarding digital signatures could be easily manipulated over the local system clock. Therefore, a third-party time stamp for digital signatures from a trusted standardized service can be used.
A timestamp also supports time-sensitive transactions and audits, with the same conditions of non-repudiation.
Therefore, one can quickly check the date and time of a digitally signed document using a third-party time-stamp that shows when the document was signed.
Thus, a digital signature is far more convenient than the conventional method.
However, look for a trustworthy service such as the Java J2ee Development that ensures a safe, reliable and efficient authorization, validation and application performance.