Digital Signatures: What’s Holding Back?
Digital signature industry will be a $2 million market globally by the end of 2020 according to the IDC. This number is expected to reach even higher levels since some of the obligations of remote work have accelerated the use of this innovation. Signing documents online is now a vital part of business strategy which utilizes emerging tools to become more efficient, cost effective, or in some cases, disrupt the entire market.
However, it’s safe to say that businesses are being bafflingly slow at jumping on the digital signature technology. According to a survey done by Microsoft and Harvard Business Review, found that only less than the 783 subjects are claiming their organization is taking solid investments on paperless processes and digitalization.
Obviously, tech is not new and proven to be really powerful, safe and efficient. So what’s the hold up?
This is a question of not only digital signature but digital transformation.
People
Henning von Kielpinski, business development director at ConSol, “digital transformation is more than technology, it’s 50% technology and 50% people.” The ‘people’ element of digital transformation can cover a variety of issues.
In organizations focused on maintaining their situation, individuals have difficulties in innovating. In order to bring a new culture and understanding, it is necessary to give managers a new understanding, which is not an easy task.
Firstly, implementing a digital transformation strategy has to be signed off by the CIO or CEO. Bruce Rogers, the chief insight officer at Forbes wrote, “Leadership through digital transformation has to come from the very top. Executives can’t just say it. They must live it.” Getting the top people in business to commit to a digital transformation is key to its success.
When people who are pioneers in the transformation create awareness inside the technology they care about, the second important step is to explore the benefits and use cases of this technology. In today’s conditions, if a solution produces benefits for more than one department, this can speed up adaptation.
Skills & Coordination
In today’s conditions, where all business lines strive to be in harmony with technology, harmony and cooperation between IT and business unit is vital. The fact that these two structures dominate their duties and responsibilities also opens the way for innovations to be made within the institution.
This cooperation is very important for institutions that want to implement an inter-departmental solution such as digital signature. Because the needs and architectural analysis can be done properly and the institution can get full efficiency from the solution.
Regulation
Technology develops day by day and makes our life easier with its innovations. Law makers have the opposite approach. With its slow, steady and restrictive culture, it has not yet achieved its correct approach towards technological developments.
The transition of law to a phase that is compatible with the agile nature of innovation and allows experimentation will speed up the implementation of all technologies. As a company that has experienced similar difficulties in biometric signature and digital signature spaces from the first day to this day, we can say that the approach of the institutions and the leaders in the institutions is as effective as regulation. The interpretation and perspective here will help a firm take a step forward and maintain its disruptive and leading position.
If you have noticed the things that hold you back and are ready to step forward, it may be a good start to completely remove the paper from your business processes. Meet one of the leading solutions for paperless, effective, efficient and cost effective businesses here: https://www.techsigndoc.com/
