DIGITAL SIGNATURES MIGHT PLAY BIGGER ROLE IN THE PANDEMIC THAN WE THOUGHT IT WOULD
Along with how the pandemic transformed a lot of the established work system, the digital signatures industry continues to grow.
The popularity of digital signatures has significantly improved worldwide, as well as in Indonesia. This trend has seen to be majorly affected by demands of the digital company and working environment development during this pandemic that constantly need to adapt.
One of the digital signature providers, DocuSign Inc, recorded a 42% increase in year-on-year revenue and gained a total of $54.5 million in the third quarter of 2021.
DocuSign predicted that the total addressable market for digital signatures is still wide open, reaching the amount of $25 million. In Indonesia, this could also be seen in how digital signature providers grow bigger in the industry through work from home and remote working needs.
Indonesia's digital signature company
As one of the existing digital signature companies in Indonesia, PT Indonesia Digital Identity (VIDA) supports this optimism. Gajendran Kandasamy, the Co-Founder and Chief Operating Officer of Vida also expressed his experience on how identity authentication, verification, access management, and certified digital signatures have helped a lot of his associates to secure their digital identity and develop their business further.
Electronic credentials will secure the digital system provider, notably in the aspects of secrecy, integrity, authentication, and non-repudiation.
"Internally, we have different divisions, namely the Governance, Risk, and Compliance (GRC) division, the Regulatory Compliance division, and the Security Operation Center (SOC) division which ensure the technical components and legal requirements, as well as their implementation, have been met,” adds Gajendran.
VIDA's future projection
VIDA stands firm in the confidence of growth this company will obtain throughout their popularity and the government’s regulation on validating the law certainty of this matter. In Indonesia, digital signatures have been validated in the Law of Information and Electronic Transaction (UU ITE), followed by the Government Regulation (PP) No 71. 2019.
“Earlier on 2022, VIDA has strengthened its position as a recognized Indonesian PSrE by the global competitors. This signifies the industry leader's confidence in VIDA's compliance with legal and cybersecurity standards globally. In line with the government's mission to promote a secure digital ecosystem in Indonesia, we hope this can encourage the growth of Indonesia’s digital industry inclusively," Gajendran explained
Currently, VIDA has been recorded in the regulatory sandbox of the Financial Services Authority (OJK). Besides being recognized and registered as an electronic certificate organizer (PSrE) under the ministry of communication and information, VIDA also holds a global certification of WebTrust, making them the first PSrE in Indonesia to own the credential.#THE S MEDIA #Media Milenial #Digital Signature