VIDA Electronic Signature Now Integrated with DocuSign

VIDA announced a partnership with global electronic signature service provider DocuSign. This partnership provides an option for DocuSign e-signature users in Indonesia to sign documents with secure and legally enforceable online identity verification.

In a press conference held today (17/2), the Co-founder and CEO of VIDA Sati Rasuanto explained that the electronic certificate issued by VIDA guarantees the protection of data and privacy of its users, thereby increasing the legal proof of the use of DocuSign electronic signatures in Indonesia.

“The DocuSign and VIDA partnership increases efficiency and productivity, and also ensures document integrity with biometric verification. We apply best practice and world-class technology in our services,” said Sati.

As a pioneer electronic signature Globally, DocuSign has helped many businesses in automating, preparing, signing, following up, and managing various agreement documents. However, legal certainty is a very important basic element.

With the integration of DocuSign and VIDA products, DocuSign eSignature users in Indonesia will benefit directly because DocuSign electronic signatures will be equipped with electronic certificates for identity authentication.

This process is in line with industry standards that use global standards in data processing and storage. Also, strengthening the legal certainty of DocuSign users' electronic signatures in Indonesia. This is because a signed document will have the same value as a wet signature in the eyes of Indonesian law.

“VIDA implements end-to-end encryption for all data transmission, the confidentiality of user data can be maintained and only used according to the needs of the user. To prevent identity abuse, our online identity verification is complemented by biometric verification with liveness detection which refers to the official national identity database.”

The partnership also opens the possibility for VIDA to step into the global arena, considering that VIDA itself is already globally accredited from the globally recognized WebTrust. However, Indonesia is still the main focus of the company at this time given the huge potential to be worked on.

“Technically at DocuSign, when choosing a digital identity, there will be options. Because VIDA is already under WebTrust, it can be raised. This allows VIDA to appear in other countries, back to user want to appear that option or not. But now focus market We are in Indonesia," added Head of Product VIDA Ahmad Taufik.

Group Vice President and General Manager of DocuSign Asia-Pacific Dan Bognar said, “We are very pleased to announce our new partnership in Indonesia with VIDA. This partnership will support our vision of providing solutions end-to-end throughout the agreement process, and continue to be a trusted partner in terms of electronic signatures.”

DocuSign is one of the pioneers of global electronic signature service providers. The number of users globally has reached 1,1 million users. As for the total addressable market (TAM) of this electronic signature is still widely open, estimated at $25 trillion. The company posted revenue of $545,5 million in Q2021 42, an increase of XNUMX% yoy.

In DocuSign's findings, electronic signatures are able to provide efficiency in cost aspects, for example when you have to print documents. On average, businesses don't have to spend $36 on each completed deal document. In Indonesia, this trend can be seen by the increasing number of electronic signature service providers entering the industry.

Along with it, presence of regulation issued by the government provides legal certainty in the use of electronic signatures. In Indonesia, electronic signatures have been legalized by the Electronic Information and Transaction Law (UU ITE), followed by Government Regulation (PP) no. 71 2019. In the 2018-2020 period, the Ministry of Communication and Information (Kominfo) of the Republic of Indonesia noted that more than 2,58 million electronic certificates had been issued to guarantee certified electronic signatures.