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3 Reasons Digital Signatures Are a Perfect Fit for the AEC Industry
While many in the Architecture, Engineering, and Construction (AEC) industry have adopted electronic workflows, there is still one component that is often stuck in the paper world -signatures. Many still rely on printing and physically signing.
Fortunately, there’s a better way! Digital signatures are a tried-and-true alternative to wet ink signatures.
Let’s take a closer look at some of the reasons you should consider using them in place of wet ink signatures.
– Reduce paper waste
“A typical $100m building project generates 150,000 separate documents: technical drawings, legal contracts, purchase orders, requests for information, and schedules.” (source)
If the “go green” mentality isn’t compelling enough, think about the costs associated – the paper itself, printers (and the inevitable printer maintenance), ink, toner, storage, etc. Which brings us to our next point…
– Decrease overhead costs
“It can cost up to 31 times the original cost to send information on paper (printing, copying, postage, storage, filing, recycling, etc.).” (Source)
No matter how you go about it, you’re looking at some significant additional costs to get those signatures where they need to go.
– Shorten project timelines
We’ve discussed the costs of the extra steps involved with paper signatures, but equally important is their effect on project timelines. Reducing document delivery time was one of the main reasons our customer Clough Harbor Associates (CHA) implemented digital signatures.
“Just the other day a partner signed a 150-page document that was immediately delivered to a client in minutes instead of days.” Reducing paper usage, cutting costs, and speeding up document delivery are just a few of the reasons the AEC industry should make the move from paper-based, wet ink signatures to digital signatures.
Parchment Uses GlobalSign Digital Signing Service to Secure Electronic Credentials for Academic Institutions
CHALLENGE
For years, Parchment has used digital signatures to secure and certify their customers’ electronic academic credentials, prove they are legitimate and not forgeries, and protect the document contents from tampering. However, their original hardware-based deployment was cost- and resource-intensive, particularly when it came to hardware and cryptographic updates.
SOLUTION
GlobalSign’s cloud-based Digital Signing Service provides the same digital signature benefits without Parchment having to manage hardware and PKI in-house. Using a hosted service means Parchment is free to focus on their core competencies, while GlobalSign maintains the cryptographic components needed for signing and updates according to the latest industry best practices.
In the spotlight
1) All electronic academic credentials – transcripts, diplomas, certificates, verifications, and other student records – are delivered securely and display the “Certified Blue Ribbon”, an expected security indicator in the academic industry
2) Parchment customers get the benefits of digital signatures, including tamper-evidence, timestamping, and proof of who created the document, without having to administer or manage certificates themselves
3) Parchment customers can choose to brand their signatures and certify academic credentials in their institution’s name
Results
1) Switching to cloud-based Digital Signing Services means Parchment can outsource PKI services to GlobalSign, so they no longer need to invest in and maintain on-premises HSMs or keep up with the latest PKI technology and best practices
2) Digital signatures are still built into the Parchment experience – all records, transcripts, diplomas, certificates, and verifications managed within the Parchment platform are digitally signed to protect their contents verify their authenticity
3) By eliminating hardware and management costs, the Digital Signing Service is more cost-effective than the original HSM-based deployment
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