Digital technologies change the nature of how companies function on the global stage. The Philippines is no exception. More and more online businesses are sprouting around. Most of these require their transactions to be secure, legal, and reliable. Such can be what eSignature solutions will bring. The Electronic Commerce Act of 2000 is said to have uplifted the confidence of businessmen about the legal frameworks adopted to engage in electronic transactions. How? What differences could there be among these solutions in the country?
Let's discuss some of the features that distinguish eSignatures in the country and how businesses operate in a digital landscape.
With increasingly more customers purchasing things online, banking online, or obtaining governmental services, the imperative to do so safely and swiftly increases significantly. And so, eSignatures are entering to ease up life. The days of paper signatures are gone; instead, advanced encryption techniques are used to confirm identity and safeguard the integrity of the signed document. It is a digital handshake assures the transaction is secure, binding, and tamper-proof.
Most importantly, though, it is because of e-commerce that eSignatures have now become a necessity in the Philippines. In fact, under the Electronic Commerce Act, electronic documents and most importantly electronic signatures shall be admissible as evidence as if they were on paper. Businesses can, therefore, easily shift into a digital mode of transaction without the fear of it being unlawful.
Let's briefly peep into what the Electronic Commerce Act, or more commonly, Republic Act No. 8792 is. According to history, it was enacted in 2000 and gave rise to a digitally-driven business landscape in the Philippines. To simplify this, it makes electronically facilitated transactions legally binding by providing the following: eSignatures, documents, and contracts as admissible in court. Or, in short, it makes online business soundly legal.
This act has a few main coverage items relating to Electronic Commerce, some of which include legal recognition for eSignatures. So, once and for all, put an end to the guessing game of how your electronic contract is binding in courts of law, just like a handwritten one on paper. It also ensures cyber security and protection against threats from cybercriminals.
This has made digital transactions much more attractive with the legal and legislative framework for e-commerce operations than ever before for businesses to either start or operate.
Now comes the million-dollar question: What makes eSignatures in the Philippines different from others? Several factors make the Philippines' eSignatures unique, mainly driven by the Electronic Commerce Act and the local needs of the country.
The Electronic Commerce Act is the foundation of eSignatures in the Philippines. The eSignatures that business enterprises embrace are assured to be completely law-compliant. This, therefore, means that the contracts executed through electronic means have equal force and effect as if they had been signed on paper, and these may be subjected to action in court, just like their paper equivalents. This makes it relatively easier for business enterprises to go digital without fear of litigation in courts.
Security is another area where eSignatures outperform others. Philippine-based local eSignature services use complex encryption schemes and advanced PKI to ensure that only the intended party can sign a document. This means, over time, there will be fewer cases of fraud transactions, safe, and tamper-proof.
The Electronic Commerce Act comprises the local laws, and eSignature solutions in the Philippines are designed in compliance with international standards. This gives businesses an edge in doing cross-border e-commerce or managing global clients. The eSignatures by the Philippines comply not only with local regulations but also with the regulations of other advanced countries like GDPR and others.
The beauty of eSignature solutions in the Philippines is that it is very simple and not complicated to use, even at the early stages of a business venturing into digital. It does not even require complicated training for its operation; therefore, it does not need a great learning curve. Small companies as well as big businesses can thus easily start using eSignatures, which may reduce processes and consequently paper wastage.
Going paperless not only supports the environment but also your bottom line. In business, time-saving eSignatures streamline signing procedures while avoiding the cost of printing, scanning, and storing paper, saving money on paper-based processes, such as the cost of printing and mailing documents.
eSignature solutions in the Philippines cater to the needs of local businesses. It can easily integrate with local e-commerce portals, payment systems, and even government portals to ensure that these businesses can conduct transactions with their customers, suppliers, and government agencies. On top of that, it is sensitive to local business culture, so digital transformation runs smoothly and efficiently.
Business organizations are tasked with teaming up together towards compliance and security. That's an entry into the world of digital transformation as undertaken by the Philippines, but then there is a firm called emSigner. Here, regarding this, solutions on the subject of eSignatures are provided. Businesses here shall be assured of complying with the Electronic Commerce Act, among others, and enjoy efficiency in terms of security and cost-saving.
These are the eSignature solutions given by emSigner:
This only creates a much greater need than before to secure and legally legitimize online transactions. Business owners in the Philippines can also enjoy all of the benefits of eSignatures with the passage of the Electronic Commerce Act of 2000, equating them with original and authentic signatures.
With emSigner's eSignatures, businesses can comply with the relevant legislation, increase security, save time and money, and make the process more efficient while complying with the Electronic Commerce Act. In short, with eSignatures, companies can streamline their operations and instil customer trust, which ensures success in digital business. Be part of the future of digital transactions in the Philippines with emSigner for your eSignature solutions.