July 28, 2011
All businesses and organisations are processing and managing large amount of content in paper. This content is formulated, received, distributed, and stored in order to comply with different corporate objectives. In recent years, the environmental impact has become a key feature right alongside profitability, productivity, compliance, and efficiency.
A recent (2011) UN report highlights this transition by emphasising that: “Climate change provides a “wake-up call” warning that the prevailing economic model is not sustainable. Climate change solutions require a better balance among growth, resource use, and equity. This more balanced model — which many are referring to as the “green economy” — is quickly gaining traction.” Adapting for a Green Economy: Companies, Communities and Climate Change, A Caring for Climate report by United Nations Global Compact, United Nations Environment Program (UNEP), Oxfam, and World Resources Institute (WRI).
The Digital Signature online service takes an active and proud part in this important shift by replacing the principle of traditional paper-based signing and turning it into an electronic “fingerprint”. This coded identification is exclusive to the document and signer, and as such, protects against signature fabrication and information tampering.
Beside the security, compliance, costs reduction, and efficiency benefits, the service operates in a Cloud model environment that allows the secure signing of documents online. A signed electronic document is delivered to the person’s personal inbox; this replaces a number of hardware components installed in each company and reduces the energy costs for running and cooling the hardware in every single organisation.
- It takes 24 trees to make 1 tonne of paper
- UK uses 12.5 million tonnes of paper and cardboard every year
- U.S. businesses use around 21 million tons of paper every year
While saving paper, trees, and storage space, businesses who are using the Secured Signing online service are also cutting back on power consumption and reducing air pollution and dependence on carbon-producing services that would typically be required to move a document urgently cross-city / state just to have it signed off by an authorised representative.
Latest findings from the 2011 UN report mentioned above revealed that “83 percent of 72 responding companies believe that climate change impacts pose a risk to their products or services. A slightly higher percentage of companies, 86 percent, think that responding to climate change risks or investing in adaptation solutions poses a business opportunity for their company.” Adapting for a Green Economy: Companies, Communities and Climate Change, A Caring for Climate report by United Nations Global Compact, United Nations Environment Program (UNEP), Oxfam, and World Resources Institute (WRI).
Whether you identify climate change as an opportunity or a threat to your business depends on many different factors. We clearly see and continually focus on implementing the opportunity. The important thing is that whatever you choose, you relate to — as will the world we leave for our children, grandchildren, and the generations beyond them.
Till next time,
July 21, 2011
Ever wondered if it’s legally binding to sign your business documents online?
A brief history first. Early Roman law recognised the amalgamation of seals and signatures as a principal for the authentication and legality of documents. Centuries later (mid-nineteenth century), the Morse Code and telegraph were recognised as the first legal ‘electronic’ signatures. The following century (1976) saw Whitfield Diffie and Martin E. Hellman lead the way to implement the legal equivalent to a written signature using cryptographic method; and then in 1996, the United Nations Commission on International Trade Law published the UNCITRAL Model Law on Electronic Commerce with Guide to Enactment that influenced the development of electronic signature laws internationally.
Since that time, around the world, different laws have been passed that guarantee the legal authority and enforcement of electronic signatures: Uniform Electronic Transactions Acts (UETA), Electronic Signatures In Global and National Commerce Act (ESIGN), FDA 21CFR Part 11, EU Directive for Electronic Signatures, Electronic Transactions Acts in different countries, and many others.
The legal specification for a signature is fulfilled by means of an electronic signature if the signature:
- Appropriately identifies the signatory
- Appropriately indicates the signatory’s authorisation of the information to which the signature relates; and (Intent)
- Is as reliable as is appropriate given the occurrence
An electronic signature is adequately reliable if the means of creating the signature is connected to the person who signs the document, is under their control and no one else’s, and if the system can detect any changes made to the document and signature.
It is imperative to highlight that although the term used in all acts is ‘electronic signature’, the ‘digital signature’ is a sub group within electronic signatures that uses Public Key Infrastructure (PKI) — the only technology that ensures non-forgeable signatures. Secured Signing’s user-based PKI digital signature application provides the highest form of digital signature, and content that guarantees signer authenticity, data integrity, and non-repudiation of signed documents and transactions. If the document is altered, signatures immediately become invalid.
“We are confident that the systems used by Secured Signing ensure that the electronic signatures produced meet the legal requirements for a signature. In fact, the security and logging facility, in our view, provides better authenticity than many of the methods by which documents are now commonly signed and exchanged (e.g. e-mail and facsimile). So, unless there are specific laws dictating that a document can only be signed in a particular way (as far as we are aware, the only common law which does this relates to wills), any form of contract can be signed using the Secured Signing System.” Rick Shera / Angela Beros , Partner / Solicitor, LOWNDES JORDAN, Barristers & Solicitors
Till next time,
July 14, 2011
“The most important single ingredient in the formula of success is knowing how to get along with people.” (Theodore Roosevelt)
The above is true and valid whether we explore the formula for successful relationships between couples, or within digital signature service and its users.
‘Get along’ in my view, refers to a partner or service that is able to implement the following:
Build trust — trust is the foundation for any rewarding relationships. It must be earned, guarded carefully, and maintained with constant actions. In today’s versatile technology environment, even the savvy experts in the electronic signature field agree that PKI digital signature technology is the ultimate way to sign documents online. Within this advanced technology, you can find variations that range from the PKI System Signing option, to the highest level of security, and the most trustworthy choice of all — the user-based PKI digital signature solution.
Communicate — explore the relationship from both the partner’s and/or user’s point of view, listen, and respond: you need to ask the basic essential questions, and explore how all parties experience the relationship? What sort of label would they put on it? A successful service provider is able to ‘see the forest as well as the trees’. Senior managers become aware observers who can clearly identify and understand the needs of their customers, consider best options, and offer an instant comprehensive response. The digital signature service communicates continually and proactively with its users. We ask for and get ongoing feedback, respond promptly to issues as they arise, initiate new technological and service upgrades, notify clients with new updates, and offer customised and tailored solutions.
Develop positive relationships that last — this is possible only if the previous two elements are actually demonstrated repeatedly. In the digital signature service realm of Secured Signing — they definitely are!
Till next time,
July 5, 2011
Traditionally, ROI is defined as “The amount expressed as a percentage that is earned on a company’s total capital calculated by dividing the total capital into earnings before interest, taxes, or dividends are paid” (Webster’s Online Dictionary). In recent years, additional areas have been identified, and discussions about Social Return on Investment (SROI), and Return on Environment (ROE) are not a rarity (the latter will be discussed in a separate, future blog).
Return on Investment (ROI) is considered to be a fundamental aspect for business success in every industry, and one of the most important calculations a business should do. The digital signature technology’s economic rate of return is high, achieving an exceptional value for the business, its customers, and its shareholders. The deployment of digital signature solution shows significant rises in profit gains, business productivity, and improved efficiency due to:
- Reduction of variable costs – eliminates the Print – Sign – Scan – Delivery of documents
- Reduction of fixed costs – eliminates the need for storage, maintenance, and security of documents
- Proper use of workforce – staff freed from paper handling to handle core business
- Reduction of Directorial related costs – internal and external managerial monitoring operations take place online
A survey conducted in 2010 compared the gain of benefits to set-up costs for users of digital signatures technology. The feedback revealed that 63% of users achieved ROI in 12 months or less, and 78% in 18 months or less. The results exceeded users’ expectations and represented an incomparable financial outcome for an IT project. (Doug Miles, 2010, AIIM, www.aiim.org/research)
Whether we call it ROI, Rate of Profit, or just Return, — We Show You the Money!
Till next time,