Over the last decade, the world’s businesses have embraced digital technology, relying less and less on traditional signing methods. Companies worldwide are adopting digital transformations to enhance efficiency, security and compliance.
However, this shift comes with its own set of challenges and considerations, specifically around security, identity verification and the risks associated with electronic document signing.
To explore these critical aspects, we recently sat down with Altron’s Melanie Georgeson, an expert in digital security solutions, as part of our #AscertiaOn series.
This blog and the accompanying #AscertiaOn episode discuss the common challenges businesses face with traditional signing methods and how adopting a secure signing solution, like SigningHub, can transform business operations.
Challenges with traditional signing methods
Traditional signing methods often involve physical documents, which are susceptible to various security risks such as document tampering, forgery and identity theft. These methods pose significant challenges for businesses in ensuring the authenticity of signatures and verifying the identity of signatories.
Additionally, managing paper-based documents can lead to risks of loss, theft or unauthorised access, alongside the costs and time associated with printing, scanning, courier services and physical storage.
“Our solution addresses these challenges by providing a secure platform for digitally or electronically signing documents,” explained Melanie.
“It employs advanced encryption techniques and verification methods, reducing the risk of fraud and ensuring the integrity of documents. Our digital signatures are legally binding and linked to individual identities, automatically validating documents and checking for tampering.”
Digital transformation and security concerns
As businesses embark on digital transformation journeys, new security concerns arise, particularly in the context of signing documents electronically. These concerns can significantly impact the overall digitisation process if not adequately addressed.
“During digital transformation, protecting sensitive data during the electronic signing process is paramount,” said Melanie.
“Understanding the required compliance and legality around your signing use case, as well as the offerings of the available technology, is crucial. This is why having a trusted partner to consult on these security concerns is essential. Failure to address these concerns can lead to breaches of confidentiality, loss of trust, or legal liabilities.”
SigningHub offers robust cryptographic algorithms and secure key management to ensure the integrity and authenticity of electronic signatures throughout the digitisation process. It safeguards businesses against security threats by providing a secure signing platform accessible from any device, anytime, anywhere.
Ensuring secure signing and mitigating risks
Businesses must prioritise secure signing solutions to protect sensitive personal information and mitigate risks.
“Our solution employs advanced cryptographic mechanisms and multi-factor authentication to verify signatories’ identities securely,” explained Melanie.
“By securing, storing, and transmitting data in an encrypted way, our solution mitigates risks of unauthorised access and ensures compliance with data protection regulations.”
SigningHub also enables businesses to track and audit signing activities, providing transparency and accountability in document transactions – enhancing overall security measures.
“We ensure a governed onboarding process in terms of the information captured and stored, with our environment undergoing annual web trust audits to maintain our status as a certification authority,” added Melanie.
Impacts on business efficiency
Beyond security, adopting a secure signing solution can significantly improve business efficiency. It streamlines document workflows and reduces administrative burdens.
Melanie shared an example from the finance sector: “One of our clients experienced a 40% reduction in document processing time after implementing our solution, resulting in cost savings and increased productivity.
“By automating signing processes and eliminating manual tasks, businesses can accelerate decision-making, enhance collaboration, and improve customer experience.”
SigningHub’s integration with existing software systems also maximises operational efficiency across organisations. During the #AscertiaOn session, Melanie shared another success story from the gas and oil industry, where over 10,000 users were onboarded onto the platform - significantly improving document readability and processing times.
Supporting digital transformation
To help customers fully embrace digital transformation, Altron provides comprehensive support in change management and solution adoption.
“We assist customers in enforcing behaviours that help them envision the savings and realise the return on investment (ROI) from the signing solution being implemented,” said Melanie.
This support ensures a smooth transition and maximises the benefits of digital signing solutions.
Discover the benefits of embracing digital signature technology
To delve deeper into the transformative benefits of SigningHub, the secure digital signing solution, and to hear more insights from Altron’s Melanie Georgeson, tune into the full #AscertiaOn episode.
Discover how digital signing can revolutionise your business operations, enhance security and ensure compliance. For personalised advice and solutions tailored to your digital transformation needs, contact Ascertia’s team of experts today.
