Going Digital: Digitally Signing Purchase Orders with Activity Factory
Digital Signatures with Activity Factory
Digital Signatures are basically an electronic equivalent of handwritten paper-based signatures, but it is much more powerful and secure than its traditional counterpart. It allows secure electronic approvals, replacing tedious paper-based processes. It also provides three core benefits: Non-repudiation, signer authentication, and data integrity.
Activity Factory has been proven to be DPA compliant and has reduced approval time significantly. It supports two types of digital signing:
Document Cryptographic Hash
Digital Signatures from a 3rd Party Provider
Activity Factory adds a signature page and calculates the Cryptographic HASH of the file.
A HASH is a mathematical algorithm that calculates the file bits into a fixed string value (HASH). It is a one-way calculation and cannot be inverted.
When someone tampers with a document, it will result in a different HASH value.
3rd Party Digital Signatures
3rd Party Digital Signatures are recommended as they are validated by a 3rd Party Provider and is globally accepted.
Activity Factory Digital Signatures are provided by our partner Global Sign.
Purchase Order Paperwork and Efficiency
Physically signing paper is inefficient, mainly because a document needs to be brought to the person authorizing the transaction.
Electronic signing removes that barrier, allowing transactions to be done from the phone or a computer, anywhere in the world any time of the day. Apart from that, paper copies and filing costs are removed, opens up more space and is great for the environment.
The purpose of signatures is to validate and authorize a transaction, and is done by physically signing the document.
Electronically Signing documents, done by a click of the mouse or by merely tracing the signature using a finger or a stylus pen, follow the same principle and are exposed to tampering; hence the need for Cryptographic approaches to digital signing.
Usernames and passwords are not enough
We strongly recommend the use of One Time Passwords (OTP) when moving into digitally signing documents.
OTP provides an added layer of security by using a user's mobile phone to ensure the identity of the user.
DIGITAL TRANSFORMATION & COMPLIANCE WITH DIGITAL SIGNATURES
For most companies, digital transformation has been a key part of their corporate strategy, and digital signature is one of the areas that present a great opportunity in propelling this shift. Employees spend countless hours chasing ink signatures and approvals, and having to print, scan, fax, or e-mail documents afterwards which can be lengthy and prone to process delays. The concern that arises is adopting digital signatures while ensuring compliance with the ever-changing business regulations.
DIGITAL SIGNATURES WITH ACTIVITY FACTORY
Activity Factory offers security features designed to protect business documents. However, the documents do not receive the same protection once it leaves the system. With the level of technology that we currently have, it also has become easy to forge and make unauthorized copies of documents. Activity Factory has partnered with GMO GlobalSign to ensure the integrity and security of the business documents. It can help support compliance by validating and auditing digital signature history, providing non-repudiation, signer authentication, and data integrity as its core benefits.