E-signing – Transforming methods to speed up competition for Vietnamese businesses

  • 12/01/2023
  • [post-views]
Survey on the issue of e-signing of enterprises

VTV.vn – 500 enterprises participating in the seminar “Electronic signing beyond the distance – Transforming methods, speeding up competition” shows that this is an inevitable trend in the future.
To ensure smooth business operations in the context of the pandemic, businesses need to quickly solve the problem of maintaining and signing documents with partners, as well as internal documents. This is the reason why the demand for e-signing solutions has skyrocketed in recent times. As noted by FPT, the number of electronic contracts on the FPT.eContract system in 2021 will grow by more than 300% compared to 2020. The accumulated volume of contracts and records processed through this platform is up to 500,000 copies.

Although the need for e-signing is urgent and growing rapidly, businesses still have many concerns. Participating in a survey at Webinar, 94% of businesses responded that they had difficulties in signing contracts with partners and internal documents due to distance. 92% of businesses agree that e-signing will be an inevitable trend, but most of them also expressed concern about the legality and do not understand the e-signing solution.

Understanding these concerns, at the Webinar “Electronic signing beyond the distance – Transforming methods, speeding up competition”, the speakers took turns to solve the problems of the business community with the signing method. electronic.

Mr. Le Duc Anh, Director of the Center for Informatics and Digital Technology, Department of E-commerce and Digital Economy, Ministry of Industry and Trade, said that Vietnam has promulgated the Law on Electronic Transactions No. 51/2005/QH11 with the following regulations: full provisions on e-documents/e-contracts or Decree 52/2013/ND-CP on e-commerce.

“The legal corridor on contracts in general and e-contracts in particular has been synchronized. E-documents are recognized as legal under the Law on Electronic Transactions, in which e-contracts are also a form of electronic documents,” said Mr. Le Duc Anh.

Special. The representative of the Ministry of Industry and Trade shared that the Government and the Ministry of Industry and Trade are trying to perfect the mechanisms to help the electronic signing form be clearly recognized and cross-linked to check and authenticate information. In the next few weeks, the Decree amending and supplementing Decree 52/2013/ND-CP to be issued will officially regulate the registration process for organizations providing e-contract authentication services. (CeCA – Certified eContract Authority).

“This will certainly promote the trend of e-contract application in Vietnam. What needs to be done at this time is the companionship of businesses to promote demand and the strong application of this method,” – Mr. Duc Anh affirmed.

Mr. Luu Xuan Vinh, Managing Partner, Asia Legal Law Firm, said that according to Vietnamese law, the legal value of an electronic contract cannot be denied. In addition, the current legal regulations on digital signature authentication are also an important legal basis for determining the integrity and assurance of data messages, contributing to strengthening the legal value of digital signatures. Electronic contract.

“With more units certifying E-Contracts in the near future, businesses can feel more secure when using e-Contracts in the process of working with tax authorities, banks, courts or third parties. three,” added Mr. Luu Xuan Vinh.

In fact, hundreds of businesses have pioneered the application of e-signing and consider this an effective “therapy” not only in the context of relaxation, but also an inevitable transformation trend in the near future. . Mr. Nguyen Ta Anh, Director of FPT eContract Electronic Document Contracting Solution shared many practical examples showing that FPT.eContract’s electronic contract/documentation solution is helping many businesses from large to small achieve 4 outstanding benefits: Ensure uninterrupted business; Cost savings; Enhance customer experience and Capture market share.

In particular, the experience of applying FPT eContract of representatives of Ford Vietnam and Construction Joint Stock Company No. 1 (COFICO) has clearly inspired the application of e-contracts in practice.

Mai Vi Hoang, Director of Information Technology, Ford Vietnam Co., Ltd. said that Ford Vietnam is a leading brand in manufacturing, assembling and trading automobile products in Vietnam, with a system of dealers and centers. service centers nationwide, normally, the Company needs 5-7 days to sign a document/contract, multiplied by the signing volume of thousands of copies per month. Not to mention, renting contract storage is expensive, causing many inconveniences. Ford has researched the electronic signing option and officially applied the FPT.eContract platform from June 2021.

“Using FPT eContract only requires one training session and solution implementation in 1 day. Up to now, e-signing activities have been widely used at Ford Vietnam with the number of tens of thousands of records per year. The time to sign a contract is only 5 minutes on average, saving tens of thousands of dollars per year,” said Mr. Mai Vi Hoang.

Meanwhile, Mr. Nguyen Manh Tuan, Head of Application Development Department of COFICO, said that ensuring operation at the construction site is a vital factor for the Company. Therefore, the processes of signing, approving documents/contracts, asking for payment or simply paying salaries must be guaranteed regardless of the circumstances. Facing urgent problems and having to respond immediately, the Company has built a methodical process to identify needs, propose changes and put into electronic signing. Currently, the Company is continuing to expand the scope of e-signing, improving and adjusting to integrate with the internal system, as well as with related parties.

With a full legal corridor, ready solutions, the speakers attending Webinar believe that the application of e-signature will grow even more strongly in Vietnam.

Source: vtv

Link: https://vtv.vn/cong-nghe/ky-ket-dien-tu-chuyen-doi-phuong-thuc-de-tang-toc-canh-tranh-cho-doanh-nghiep-viet-20210920144604775. htm


Related news

List 5 ways electronic signatures can benefit real estate agents

Over the past 20 years, digital technology has streamlined nearly every aspect of the real estate industry. Buyers, sellers and agents only need a smartphone or tablet and a wireless connection to sign real estate documents. The e-signature solution is a “must have” feature that allows your clients or clients to sign real estate leases, […]

E-contract: Definition of e-contract and the main transports

What is E-contract? An electronic contract is a digital contract created and signed digitally. E-contracts can be created online to be emailed to stakeholders to enable them to sign contracts electronically through their mobile devices. The electronic signature made on the electronic document / contract shows that the singer signed the contract after careful review, […]

How to update or create a contract from a draft contract on FPT.eContract

Draft contract is electronic contracts in the process of creation but not yet completed or contracts copied from contracts which are in progress, canceled, rejected or overdue. To update and create an electronic contract from a draft contract on FPT.eContract, users can follow the following 2 steps: 1. Update a contract: 2. Upload a contract […]