Digital Signatures and Cyber Security
Authenticated digital signatures can be a valuable part of your cyber security approach. They are more efficient than printing, signing and
scanning documents and provide one-off encryption for the highest level of security. In fact, they are more secure than a handwritten
signature.
If you have a lot of documents that require signing within your business, whether internally or externally, using a digital signature app
will streamline your workflow and make managing the signing of documents more accessible. Documents are also secured against manipulation
after they have been signed.
However, not all digital signatures have the same level of verification and cyber safety.
It's important to understand the difference between electronic and secure digital signatures. For example, you can scan your signature, save
it as an image file, and attach it to documents. This is an electronic signature but not an authenticated digital signature and is easily
copied and hacked.
An authenticated signature includes unique digital verification that uses public key cryptography technology within the signature. So, the
signature comes with encrypted authorisation embedded in it, and it’s virtually impossible to hack.
Digital signatures also provide an audit trail of the signature process – from sending the document to when it's read and signed, and sent
back to the document owner. Once you’ve created a document and sent it for signing, you can see outstanding documents at a glance and send
reminders from within the platform.
There are many options available for authenticated digital signatures. Look at DocuSign, Adobe or Secured Signing to start with and ask
others in your industry if they use a solution they would recommend.
Check their level of encrypted security and audit trail functions. Most are very simple to use, requiring nothing more than you opening an
account, uploading documents and sending. The recipient may need to create an account, but some apps use a code sent separately to sign the
document without the recipient needing their own account.
Digital signatures are an easy tool to help your business's cyber safety, and there are many other simple tips you can implement.
Christina Cotter
Associate
WDF Accounting and Advisory | Accountants Wagga | Your partners in business
Providing carefully tailored accounting solutions in business advisory, tax compliance, bookkeeping, Self-Managed Super funds, and more.