Usages of Class 2 Digital Signature Certificate
Digital Signature Certificates or DSC or simply Digital Signature is the legally accepted method for signing any kind of digital documents. It has been espoused by different government agencies and now it has become the legislative requirement in a variety of applications. There are three different types of DSCs, of which the most commonly used is the Class 2 Digital Signature. It is used for signing bulk digital documents and can also be used for e-tenders, e-fillings, e-procurement websites where digital signatures are required for login. The Digital Signature makes use of the Public Key Infrastructure or PKI so as to create the digital sign using the USB Drivers.
Where is Digital Signature Compulsory to Sign Invoices?
As per the Goods and Services Tax Regulations in India, all the filings of GST which includes the invoices and forms are required to be signed digitally and this is where the Class 2 Digital Signature is compulsory. It is required for signing the e-filling of income tax returns, e-filling for online auctions, Registrar of Companies, consignment notes, challans and delivery orders.
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There are many companies that are now focusing on using the Digital Signature Certificate to sign all their digital documents. It is considered to be the secured digital key which is issued by the Certifying Authorities and authorized DSC Providers in India to verify and validate the identity of the person holding the authority or the DSC certificate. This signature can be produced digitally so as to prove the identity of the person to access confidential services and information over the internet. The digital signature comprises of information about the user’s country, pin code, name, date of issuance of certificate, email address, and the name of the Certifying Authority.
What are the Advantages of Class 2 Digital Signature Certificate?
As mentioned, Digital Signature is the secured digital key and used for signing bulk digital documents. Many organizations are now switching to digital signature as it offers several benefits to the authorized person holding the certificate. Below are some of the benefits of using the Class 2 Digital Signature.
- Allows you to sign bulk documents including challans, form 16, statements, contracts and more
- It saves your lots of time in signing bulk documents as it takes hours to sign individual document manually.
- Simply Download, search, retrieve and archive the documents with ease.
- It is like an integrated workflow which work with transfer, signing, processing of all digital documents which can occur within system
- Ensure to maintain the integrity and authenticity of the data by protecting it with digital signature.
- Cut cost up to 70% of the cost that is involved in the manual process
- Digitally signed documents are validated legally by Indian IT Act, 2000
- It contributes towards the go-green initiative in India as it is the eco friendly and clean alternative to the paper intensive process.
- You need not to be physically present to sign a document. Your DSC token play your role instead of you.
How and Where the Digital Signature Certificate is Used?
As mentioned earlier, the Digital Signature Certificates are mainly used for signing digital documents in bulk and this includes contracts, agreements, forms in the departments like Finance and Accounting, Human Resources, Supply and Logistics, Sales, Marketing, IT and Admin and more. The process is paperless and hence the process of paperwork is eliminated which contributes towards making great impact on total cost. Sectors like education, insurance, banking, legal firms, life sciences, consultancy firms and other industries make use of DSC for invoice signing and also integrate digital signature with the core functions.
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All banks are now using the DSCs for signing the bulk banking documents like account statements, financial instruments, and agreements. This helps in making the loan origination, consolidation, customer account management, loan account management and handling of KYC quite faster and convenient.
Apart from banking institutions, the Insurance Sector is also using the Digital Signatures for different business processes including claims processing, insurance applicants, policy changes, documents endorsement and recipes, invoices and maintenance. All these business processes lead to large number of documents which need to be signed only by the authorized signatory. To minimize the burden and secure the document efficiently digital sign is used for signing the documents in bulk.
Telecom industry is also using the Digital Signature to sign bulk documents involved in business processes like document verification, connection authorization, service approvals, invoices, VAS approval and more. All these businesses services play a crucial role in delivering quality and faster telecom services to customers.
Some of the educational institutions are also using the Digital Signature so as to sign the bulk mark sheets, conduct certificates, transfer certificates, reward, grants, notices, accreditation, and recognition certificates in bulk.
These were some of the usages of Class 2 Digital Signature Certificates. You will also find some government institution using the Digital Signature today.