The World Wide Web has had a profound impact on numerous industries around the world and the Philippines is not immune to this shift. One of the key components that are associated with this change is the use of Electronic Signatures. E-signatures in the Philippines have played an essential role in creating easy and effective means of conducting business transactions, legal procedures, and governmental activities. Thus, while the country moves gradually to a more digital economy, e-signatures in the Philippines occupy a central place in digital activities.
E-signature is one of the branches of electronic commerce that enables the signatory to sign the document without necessarily affixing his physical signature or using physical documents. As for the Philippines, the use of e-signatures is legal, it is regulated by the Electronic Commerce Act of 2000 (Republic Act No. 8792). Due to this legislation, there has been more acceptance and practice of e-signatures across industries and sectors.
UNAWA, the Philippines’s leading legal technology service provider, is among the major players in the country’s e-signature segment. UNAWA has become a leading e-signature service provider for businesses, legal practitioners, and the government in the country by providing a secure solution that is well-equipped to meet their needs. UNAWA’s solutions are to operate by the legislation and best practices, establishing legal action and the safety of digital transactions.
The use of E-signatures in the Philippines has been influenced by the following reasons. In the first instance, digital signature impacts the business processes by eliminating the time and money required for dealing with papers. For example, contracts, agreements, and many other legal formalities can be signed across differing time zones in a matter of minutes. This is especially helpful for companies with their employees spread across the company or working with representatives from different countries.
Therefore, electronic signatures improve the security and credibility of documents. While regular signatures may be faked in several ways, digital signature uses encryption and other methods to make them more secure. This is to protect the authenticity of the signed documents and to confirm the identity of the signatories. For the above reasons, e-signatures are increasingly being adopted in the Philippines in industries that require secure management of data and documents including, finance, healthcare, and law.
One of the most notable benefits of e-signatures in the Philippines is their impact on the environment, especially on conservation. Since fewer papers are used in an e-signature process, they assist in cutting down on the effects that paper-based documentation has on the environment. This is in line with the global trend that calls for more sustainability and environmentally friendly practices in business activities and runs well with the shift of Filipino businesses and consumers to embrace sustainable business practices.
The application of e-signatures in the Philippines in various digitalization measures across the Philippines also encompasses the governmental segment. More and more e-governance projects undertaken to enhance public service delivery and to increase transparency in the government sectors started adopting e-signatures for secure interaction between the citizens and government sectors. For example, when it comes to taxes, permits, or governmental services, e-signatures can be used to process such tasks effectively.
Therefore, e-signatures in the Philippines are imperative in the country’s transition to the digital era. Thanks to the e-signature’s safety, speed, and ecological non-invasiveness, the traditional business and management model of companies, legal entities, and governmental structures are being changed. Having such providers as UNAWA, the Philippines has started actively using e-signatures and is ready to unleash the unlimited potential of digitalization. Speaking of the impact that e-signatures will have on the future of the country as it opens itself to the idea of digitalization, it is without a doubt that e-signatures will be key to it.
