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FAQs
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Who will be benefitted in GST era: Chartered Accountants or Cost Accountants?
GST is not a Law, it is a Festival… atleast as of now, it seems like that!Law - Law is a system of rules that are created and enforced through social or governmental institutions to regulate behavior.[1]Festival - A festival is an event ordinarily celebrated by a community and centering on some characteristic aspect of that community and its religion or traditions.[2]Until now, GST has barely exhibited characteristics of a Legal enforcement, but more of a joyful celebration for a day coming soon -Everyone is happy that GST is coming, like we are before Eid or Diwali.Everyone is cleaning their Accounts & Business, like we clean our houses before Diwali or such festivals.Everyone is preparing their business, documents, accounts, employees, etc. for GST, like we prepare special food, buy crackers or items for celebration before a festival.Everyone is contacting suppliers, customers & consultants, planning how routine would be like under GST, just like we plan with our friends & family, where & when, what & how we will celebrate the festival.So it doesn’t seem like a law that is coming, it’s a festival; and we all know, in festivals, all of us prepare, participate and enjoy! Everyone in the house, has some role to play. That’s one more common charteristic.What does the situation look like? A practical insight.Let’s say I am businessperson, running a medium scale manufacturing business. With the advent of GST, I will need the following services.GST migration and registrationProduct Pricing strategy under GST regime (recaculation of MRP & re-negotiation of distributor’s margins)Re-consideration of Suppliers of Raw Materials, their Cost, which state to buy from and whether some better suppliers exist, since now the tax would be almost equivalentGuidance with regards to Transitional provisionsSoftware upgradationFirm wide training for employeesReturn filing under New Law and adjusted returns under the Old Laws.I will have three options to resolve the above issues -Outsource it to my existing Professional (most probably the professional would be a Chartered Accountant, can be tax consultant at times)Hire some new professional providing specialized GST services (if I am not confident about my current professionals capabilities)Hire new employees who are skilled in handling this.Train myself and my employees to handle the new situation.Now consider both the issues and options available -Do I need Chartered Accountant specifically anywhere? Do I need CA approval or signature anywhere? - No.Do I need Cost & Management Accountant specifically anywhere? Do I need CMA approval or signaure anywhere? - No.What kind of help do I need? - Anyone with thorough knowledge of GST law who can help me with implementation.What would be my preference? - My existing professional provides me the services, I won’t prefer somebody new, unless there are added benefits.What would be my cost preference? - I am not going to get any benefit from GST (Credit would be passed on; Future hassles would be reduced, but current implementation also involves hardships). I want the right guidance at least possible cost.So the conclusion is - it is more about learning, rather than degree. Even a Bcom graduate can take the benefit of opportunities created by GST, if he/she takes the efforts of learning.Specific Comparision of Opportunities between CAs and CMAsGST Registrations - For registration or migration, most obviously, businesses might have preferred going to their regular Chartered Accountants. However, if other professionals, whether CA or CMA or even CS, were smart enough, they would have definitely pitched in and tried to grab a new client.Pre-GST, Post-GST Implementation - This is one area which Big firms made a lot of money from - “Dear Client, don’t you worry. We will guide you with things to be done during Pre-GST period and also help you with Post-GST implementation. We will charge you Rs. (a big bill) only.” Fear, once again, being used as a tool to manipulate & earn abnormally. This service can be provided by any one who knows what GST is, whether CA or CMA.GST Training - While ago, there was a dearth of Public Speakers in this profession. All of sudden, every tom, dick & harry is now conducting sessions of GST. More than knowledge or skills, here the contacts have worked for them. So people who had networked before, have grabbed the opportunities. These opportunities are again, available to both, CAs and CMAs.Pricing Revisions & Strategy - This is one area where usually CMAs would be working in Corporates and therefore, an opportunity for them to pitch in, however, definitely many Chartered Accountants would have tried to grab these opportunities.GST Returns & Compliance - This is more of a maintenance service. Now whoever has supplied the asset, the maintenance contract would also go the same vendor. Similarly, whoever has helped the company with GST implementation, certainly they have a much higher chance of being appointed to file GST returns and take care of compliances.Jobs in Indirect Taxation - Jobs in Indirect Taxation are available to both Chartered Accountants and Cost & Management Accountants currently. With GST, I think the slight preference that Chartered Accountants get, may get reduced marginally and in future, we might see a tough competition between Chartered Accountants, Cost & Management Accountants, Tax Consultants and Accountants in company, to gain the regular services. Whoever, outsmarts the others, wins the opportunity.GST era brings new opportunities for all, not just Chartered Accountants or Cost & Management Accountants.Politicians, especially the ruling party in the centre is the one most benefitted from GST. It will obviously bring them more votes. Non-ruling parties are happy that they have a new topic to tease Government on and for.State Governments are happy because under the hood of GST, they have collected higher taxes from the Businesses. VAT rates were increased under the name of bringing equity with GST rates.Information Technology Enabled Software (ITES) companies are happy that now they can serve some new softwares & ERPs for GST. Customers will have to buy these new softwares or atleast purchase an upgrade to the existing ones.Corporates are happy because now they will get credit of Service Tax against VAT and vice versa.Businesses are happy that ‘maybe’ the tax compliances would be easier.E-tailers are happy because now they have a new reason to give Discounts ‘Pre-GST Sale’ and clear their stocks.Freshers are happy because they have more opportunities to look forward to or the companies have increased their hiring capacity.Salaried People are happy because they have got nothing to do with this. It’s just everyone is celebrating, so why we should be behind.Remember, opportunity for someone, means threat for others.If someone is getting opportunity, certainly it is threat for somebody else, since the balance of environment is maintained automatically. While Government, Consultants & everyone have highlighted the benefits of GST, one important short term hassle that everyone has to face would be ‘inflated prices’. Yes, that’s exactly opposite of what GST is brought for, but it’s true.The prices under GST would fall (‘by 5%’ everyone mentions prices would fall, but nobody mentions this would be just a marginal change). These prices would fall when the manufacturers and the entire chain of suppliers pass on that credit. Do you really think everyone would just reduce their prices immediately?The opposition party had also requested for including a ‘Price Monitoring Cell’ under GST as an ‘Anti-Profiteering Measure’, to ensure that the companies are passing on the credit to the ultimate consumer and reduce the prices of products. Hoever, neither the corporates supported, nor the Government considered it a matter as signNow as it should have been considered.[3]Conclusion: GST is going to be effective very soon. All those who were going to be benefitted from GST have already taken the benefits. It was an opportunity for all professionals to reshape their clientele. Primarily, the existing Professional Service Providers, whether CA or CMA would have been benefitted, since they are the go-to-contact, unless somebody else pitched in, with a better offer & services. However, who and how many such professionals outsmarted the others, who really took the benefit of this open market situation, cannot be quantified. Anyways, now it’s your turn, the aam aadmi, to firstly take the wrath of GST, & then wait to reap its benefit, someday! GST is good, I expected better.Footnotes[1] Law - Wikipedia[2] Festival - Wikipedia[3] GST: anti-profiteering measures necessary?
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What is a GST ready ERP software?
TI ERP GST IntegratedFinance module is the core module of our ERP software solution. All transactions of the financial module are GST incorporated to ensure the smooth finance operations of the organization. It is interlinked with all modules of TI ERP to gather financial data and generate valuable financial reports for strategic decision making. Below are some signNow features of TI ERP Finance module.GST Integration (Regular updates)A configuration of the chart of accountsUnlimited number of account groupsMultiple voucher types with auto/manual numberingPredefined narration entryDrill down facilityExporting data from external sources like excel sheets etc.Simple and easy to use TDS moduleBank pay In slip generationBill settlement for payment and receipt against bills and their interest calculationBank and ledger reconciliationMultiple vouchers, accounts, and reports printingTransactionsPaymentsDepositsBank Account TransfersJournal EntryBudget EntryReconcile Bank AccountReportsJournal inquiryGL inquiryBank account inquiryTax inquiryTrial BalanceBalance sheet drill-downProfit and loss drill-downBanking reportsGeneral ledger reportsTax reportsChart of accountsList of journal entriesGL account transactionsAnnual expense breakdownBalance sheetProfit and loss statementAudit trailItem wise tax reportItem wise total tax report
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How do I incorporate digital signature on invoices? We are an automobile OEM, & print around 600 invoices per day. We currently
DSC Signer [ https://www.dscsigner.com ] is desktop software in which you can sign multiple PDF files by selecting input and output directory, and it doesn't limit the number of PDF files to be signed. And close important deals easily, quickly and securely! Don’t lose precious time and money on paper, postage, faxing, scanning or using other document signing software that takes you hours to set up. It’s allows you to sign PDF documents without any need to purchase signNow, thus dramatically reducing the TCO (Total Cost of Ownership). The software supports hot folder signing, which means you can install the software on your file server and set up DSC Signer Server to watch over the newly-uploaded PDF files in the specified hot folder and sign them on the fly. "The Easiest, Fastest and most Secure way to get documents signed Anytime." We offer a complete software solution for Digitally Signing Invoices, Consignment Note, Delivery orders, etc. With just few clicks, you can digitally sign your Invoices & other documents, in a very user friendly way. You may prepare your Invoice and related documents such as Delivery PDF Documents, from any software, accounting package, MS Office, or even scan from physical copies, digitally sign them using our Invoice File Signing software and email to the recipients. For more info visit below webstes:- Dsc Signer | PDF Signer | Digital Signature Software [ https://www.dscsigner.com/ ] www.dscsigner.com [ https://www.dscsigner.com/ ]
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How do I start a career in Digital Marketing?
Digital Marketing is one of the most challenging, exciting, fast-paced industry and this is the right time for building a career in Digital Marketing. It has challenges and rewards, including a potentially lucrative income. The demand for skilled expertise is at its peak while there's a great shortage of experienced professionals.Here are the essential things you can do right now to start a digital marketing career:1. Create an Online PresenceNowadays, when it comes to landing a job in any field, you should not exist without an online presence. For obvious reasons: a prospective employer(digital marketing team leader or manager or head) will look online first to learn about applicants, and if they find you, you will lead the shortlist process.Create your own digital marketing blog, social media presence that is linked to your portfolios, and demonstrate them what you are really capable of this field.2. Know the Latest TrendsDigital Marketing is a career that is regularly on the move and continually evolving. Whether you are starting out your career or a seasoned professional, you have to stay updated with the latest trends in Digital Marketing. As the leading players such as Google, Facebook, and Twitter always tweak their algorithms, you are in for a wild ride if you don’t keep on top of the latest changes.Also, websites such as Search Engine Land, Search Engine Journal, Marketing Land, Econsultancy, eMarketer and Social Media Today are great resources to stay updated. You can sign up for a daily/weekly newsletter of any of these websites. Moreover, you may attend virtual seminars, take some online classes, and do your best to stay ahead of the game.3. Use Your CreativityDigital Marketing allows you to utilize creative abilities in a variety ways. Some methods and systems are standardized for specific applications. However, you can always add your personal flair to projects, making them more creative and unique.Digital Marketing is built on creativity. The more creative you are, the more probable it is that you will be regarded and get that dream of your digital marketing job.4. Create a Winning ResumeBefore you start applying for the digital marketing jobs, make sure to create a dynamic resume that shows precisely how valuable your skills are. There are different types of resumes, and you should not limit yourself to just one, particularly when you are working in an innovative industry.5. Start a blogBlogging is a great way to determine your expertise and assist you in learning by doing. Blogging demonstrates your commitment and skills to potential employers as well. I've regularly asked in interviews: What are your skill sets, latest updates, industry news, portfolio, the case study of existing projects, etc. To answer a blog is an excellent way to show your expertise, experience and win the interview.6. Learn about AnalyticsTo know how good your marketing campaigns are, you have to understand analytics. Data determines how well a campaign is performing and helps you to find how to make things better. There are many online classes you may attend that will assist you to know how analytics work, and how to use them.7. Learn the terminologyDigital Marketers should be comfortable with acronyms, for example, SERP, Organic results, etc. They are all very distinctive terms with a misunderstanding of them being a clear sign that you have a beginner's skill set and need additional training. The ability to analyze digital marketing campaigns and know that elements worked or not is reliant on your ability to understand industry jargon.8. Get Out there and NetworkSurround yourself with people more skilled in Digital Marketing. It is important to connect with some real people who are working in the digital marketing industry. The people you meet will be your continuous support network when you run into problems, and additionally, help to open doors to opportunities you might not have otherwise found. You will also have the capacity to learn from their experience and get a list of specialists you can use to put together a great team.Attend industry meetups, webinars and conferences in your area to build relationships with other digital marketers and enhance your skill set by in-depth workshops and presentations.9. Get Trusted CertificationIf you want to stand out from your peers in the industry, completing a certified digital marketing course will help. There are training classes you can take that will assist you to prepare for the certification exams, and if you are decided digital marketing as your career, definitely you should get certified as soon as possible.10. Decide on agency vs. industryThere are two main career paths when it comes to digital marketing. You can be an in-house digital marketer (working in a specific industry), or you can serve for an agency and handle multiple projects. That’s not to say you cannot switch later on but deciding where you would like to focus can provide you a good head start.All the very best!
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How can I start my career in Digital?
Well, I have Answered this question in part on how to be digital marketer in the below Quora thread, please go through it and Upvote the answer if you like it.How do you become a digital marketer?Or read On…Yes, becoming the digital marketer seems to be the in thing nowadays so go for it if you are interested, according to some stats 9 out 10 companies in USA have already gone digital, so more and more companies worlwide will embrace the digital platform.According to Mondo demand for digital marketing professionals will rise by 38% this year. It’s time you take advantage of it.Having been into ERP and CRM implementation for more than 10 years and then being part of startup(www.crossindia.in) for last 3 years forced me to learn inbound and digital marketing, because as Seth Godin said, “Marketing is just too important to be left to the marketing department”.But before you start, ask below questions in the given order:•Why Digital Marketing is required for any organization or individual?•What is digital marketing and how does it helps sales promotion?•How to do digital marketing for any company/product/services/individual.Remember in in todays world everyone is doing digital marketing:A 20-year-old guy posting pictures of his first motorcycle on Facebook is also doing digital marketing.A social activist trying to get signatures on for a petition is doing digital marketing.But doing it professionally is a totally different ball game.Lets start with the questions:Why Digital Marketing is required for any organization or individual?Because the companies today needs it for any inbound strategy, so unless a company can run fully offline or chose to hide under a rock, online strategy is something most modern organization will need.•India will cross 500 M Internet Users Mark by 2017 Online Ad Spend in India to cross Billion Dollars in 2016•Indian E-commerce Industry to cross $38B Mark in 2016•India will cross 500 M Internet Users Mark by 2017and with Companies like JIO providing free INTERNET its only going to get better for digital marketers and Companies with Digital presence.Because Digital Marketing Is More Cost-Effective than Traditional Marketing:That is why according to the Gartner survey, 28% of business owners surveyed will shift marketing budget allocations from traditional media channels and invest them into digital online marketing tools and techniques.Digital marketing strategy is also measurable and can be quantified which helps companies track their budget and spending in a much efficient manner as compared to traditional marketing strategy.There are a million more benefits to it for companies if they can create an effective Online marketing strategy.What is digital marketing and how does it helps in sales promotion?This is very important, you need to know that you are part of a bigger Marketing platform and digital marketing is just a part of it, its important to understand a bigger picture of inbound strategy.so if a company has a revenue of 1 million per year and wants to grow to 1.5 million for next year, and wants to leverage the digital strategy, then you are a part of a bigger goal.so if the the digital strategy is bring in 1000 leads for 1 million USD revenue then you will be a part of say new strategy for bringing in 1500 leads to signNow the target of 1.5 million.P.S. The above statement is just overs simplified version of inbound strategy, for more information on inbound Marketing find out more on web, Hubspot academy provide great free certification on this along with many more.Long story short:•Have a bigger Picture of Marketing as a whole•Anything to increase the sales, revenue, ROI works well to convince the management.•See where you can fit in, find your place in a bigger marketing scenario.How to do digital marketing for any Company/product/services/individual.Digital marketing is more of a skill rather than a academics, so the best way of learning is learning by doing it.Create your own website/profile then optimize your seo, inbound links, then try to bring visitors from social media and other channels, trust me this is the best way to learn things here, coz there are just too many thing to learn and digital marketing is evolving everyday, so an academic training today might be just irrelevant tomorrow.There are many sub-categories of Digital Marketing:-•SEO (Search Engine Optimization)•PPC (Pay Per Click advertising)•Email marketing•Social media marketing•Mobile marketing•Ecommerce•Content marketing•Affiliate marketing•Display advertising•CRM (Consumer Relationship Management)Chose your career based on your strengths and learn one thing at a time and implement it, just class based learning or even certification is not enough if you can’t show results.It’s a creative field just don't go into it looking for a “job”, digital marketing is about being creative, be it designing a logo or a post, writing great content or even promoting your content.Here are the core values :1. Be bold and creative2. Focus on Impact and results3. Move fast and be open to learning new things4. Be open to change5. Build social values.At the end Digital marketing is all about Creating value for customer and your organisation along with having fun doing it.Happy learnings ahead.Thanks,Ritesh Osta.Marketing automation, ERP and Online Marketing Strategist.Co-Founder; CrossIndia Tourism - Kolkata Ganges Cruise Party, Boat party & Boat toursAbout Ritesh: Travel marketing Expert, ERP and Online Marketing Strategist.WHAT I DO: I help companies, Entrepreneurs, Businesses and individuals create Marketing campaigns, CRM and ERP Solutions and help generate more sales and revenue.HOW I DO IT: I create complete inbound marketing strategy, digital strategy and marketing and sales automation, using proven automation tools, techniques and Methodologies.You can connect to me on Linkedin - Ritesh Osta or drop me a message here, I will get back to you withing 24 hrs.
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What are good ways to learn to become the best digital marketer?
Hey Friends,I have been into SEO field from last two years recently working as an SEO Specialist with Squareboat Solutions Pvt Ltd. Gurgaon. Here I'm sharing an answer with my experience. I hope it’ll be helpful for you.In the 21st century, we also know our lives are moving more towards the digital world. In comparison with last years, the percentage of digitalization is increasing year by year.Nowadays we have all the solutions online be it booking travel tickets, shopping, ordering food, applying passport and what not. In the current scenario if your business is not online that means it’s not growing much.When we compare digital marketing with traditional marketing we will analyze it is much beneficial than the traditional one. Some of the points I'm mentioning below:-Cost of starting a business in much less as compared to that in traditional marketing.We are available 24/7 to our customers in digital marketing but in traditional one there is a fixed time on which we can open our shop, factory or any company for eg. 9–5.In Digital marketing we can focus on the international market but in offline marketing, we focus particular area only.Whether u are planning to do digital marketing for enhancing your business, for learning new skills, to start a new business or to increase salary by adding more in your skill card. For all the above things u first need to enhance your skills in digital marketing.There are certain qualities a digital marketer should possess to improve his/her skills. Below I'm mentioning the ways by which you can enhance your skills and add value to your resume.Attending the Digital marketing events: It is very important for a digital marketer to attend seminar and events on digital marketing so as to meet the people in this industry who are already doing great and also to know latest trends and updates those are taking place in this industry. For eg: recently Podcast came in the notice which still many people don’t know about.Learn from Digital Marketers and Entrepreneurs: For the growth of any startup and personal brand, Digital marketing is playing a very important role. So, for your growth it is important to stay connected with those people who are already doing great.Make utmost use of social media: It is very important to surround yourself with the like-minded people. Follow, read, like the content of digital marketers and then implement those practices.The internship should be the first step rather than searching for a job: In an internship, an individual have practical knowledge and digital marketing is all about implementation. So, prefer internship initially over job.Continuous Learning: It is very important to have a learning nature if u want to grow in the digital marketing industry as regularly there are new updates coming up which need to be adapted with time.
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Which is the best CMS for managing, sharing and uploading tons of doc and pdf?
In my experience one of the problems of CMS (or DAM) software is the requirement to keep it up to date, and open source tends to require updating more often, and or more work involved in doing so. I used to use Wordpress, Moveable Type, and Drupal and others for blog type stuff, but now I find it easier to just use Blogger (the bar at the top can be removed, there is just an unobtrusive Blogger link at the bottom). So thinking along the same lines, hosted systems includeDropbox 2GB free (extendible by introducing friends)Rapidshare 10GB freeBoth have desktop software that enable drag and drop and look rather like an external disk. Another option - if you don't mind updating - is Moodle, an educational content management system which has fairly advanced file sharing/uploading capabilities and a way of connecting to Google docs, Amazon S3 storage, Dropbox repository and a variety of other repositories. Another thing I do is take screen shots of my files and post them to Flickr. I think that this gives people an idea of what is on offer.
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What is the right way to choose an electronic document management system?
Investing in a digital document management system may not be a topic that automatically tops the list of priorities of many management teams but its importance should not be underestimated.An effective digital document management system can play a crucial role in helping an organisation to enhance the way information is stored, accessed and shared.In today’s digitally connected world, the expectation that information will be available on demand and accessible on any device is likely to be the norm for many people. However, it is still not uncommon to find organisations in which people may have to spend time rummaging through filing cabinets for a particular document, or scouring their emails in search of a specific piece of information.A digital document management system addresses these issues head on, helping to create more efficient and secure solutions to improve document workflows.The document management process begins with the conversion of paper documents, forms and records to electronic files. Electronic conversion eliminates the need for manual paper processes which may be prone to errors. It also does away with the need for the retrieval of physical files from filing cabinets or off-site storage.Read more at newsletter.ricoh.co.in
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What are the best practices in evaluating Document Management Systems for enteprises?
Having worked with a manufacturing giant in sales and marketing and developed our own system as an entrepreneur, I can say the most important things in evaluating a DMS would be:Are all documents being stored in the database? This could render the application and experience very sluggish. Its better done via metadata and stored locally within the organization Is there a proper and easy to use version management system? There are several versions to each document and storing each is quintessential to understand the project entirelyAre there too many forms and fields in forms that create your metadata? If so users usually would skip filling all of it altogetherIs the system flexible enough to avoid running to support for minor changes? Usually the document management systems installed with large organizations are like legacy software and a very small change in a form field needs support and therefore moneyIs the document flowing properly across departments? Documents need to transmitted to other departments with proper approvals and this workflow creation and editing needs to be flexible as people come and leave the organizations over time. Updating the system should be easy.Most of all is the system secure? Coz the application is actually a route to the most confidential documents like POs, estimation, design etc. Has the application and the actual document been isolated?
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Frequently asked questions
How do i add an electronic signature to a word document?
When a client enters information (such as a password) into the online form on , the information is encrypted so the client cannot see it. An authorized representative for the client, called a "Doe Representative," must enter the information into the "Signature" field to complete the signature.
How do they know an electronic signature is actually you?
And, more importantly, does it have a secret meaning, and are you actually the owner and not just someone pretending to be you?
The answer seems to be yes. In fact, it's the best answer any of the researchers could come up with: They believe that it's the secret to a digital signature, and their findings have been published in the academic literature.
The paper is entitled "Secret Authenticity of Digital Signatures: the case of the 'IOU'" and is a collaboration between the researchers and David Chaum, the author of the famous paper on digital signatures that was used to prove the security of electronic cash transactions over the Internet in 1999.
It was a pretty big deal back in 1999, because it proved that it's possible to make an electronic currency that is not vulnerable to "double spending" -- where the money itself can be duplicated and used to defraud the network.
And since then, digital signatures have been at the center of many new innovations in electronic banking, and now the technology has moved out-of-the-box into other areas, like online payment systems, the blockchain, and smart contracts.
And Chaum, who is also the author of the classic book "Digital Money: Theory and Practice," has been working to prove that electronic signatures are more than just something that can be used for digital signatures.
He did that with a proof-of-concept experiment at the University of Illinois a decade or so ago. He wanted to see whether it could be possible to take an el...
How to accept electronic signature from clients?
Yes, the client is required to accept electronic signature.
When should one choose to use Electronic Signature and when shouldn't one?
As mentioned earlier, the most common use cases are to sign documents for the purpose of the document delivery by e-mail or fax. In most cases, it's preferred to have Electronic Signature. But if the eSignature is used for a non-document delivery purpose, then it is better to use a regular signature as shown in the following illustration.
The signature of the eSignatures are verified through the cryptographic signature algorithm, in combination with the public key and the private key which is known by the sender's account.
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