Lately, the organizations are quickly adopting the digital strategies to enhance their productivity, security and customer satisfaction. The ultimate reason for embracing this digital transformation is to obtain an end to end automated process throughout. Inculcating digitalization into the business would gradually result in improved customer experience and overall functioning of the organization.

The fundamental step in every business is signing an agreement with the clients, business associates, staff, and regulatory bodies. The agreements could be offer letter, memorandums of understanding, sale deeds, purchase order and so on. These agreements are crucial to build a good relationship between both the parties. Hence, it is mandatory to maintain an organized procedure for these formalities. Also, to sustain in this highly competitive business environment the organizations has to adopt certain digital strategies.

The conventional business agreement involves many procedures like both parties negotiation, series of reviewing, manual printing signing and scanning of the document. Ideally, these procedures would take a day or two to finalize. Also, securing the signed document for audit and future verification is a must. This is a laborious process for the organization operating at a fast pace.

To address the taxing documentation process, digital signatures has made its way into the business arena to ease the agreement procedures. Digital signatures permit both the parties to sign digitally through the electronic devices from across the globe. To sign the digital document through a computer or mobile the concerned persons has to just type their name or upload a scanned copy of their physical signature and verify the signature's authenticity using the cryptographic techniques.

Furthermore, after signing the document digitally, if any new changes are made in the document both the parties would be notified. The signed document could be stored either in the local devices or cloud software for easy access. Also, digital signatures bring in other advantages such as instant documentation, easy storage and access, cost-efficiency.

With the growing digitalization, security is always a matter of concern. The agreements signed are the most confidential documents for every organization. Generally, the organizations rely on the third parties for storing and timestamping the digitally signed document. In this process, the documents could be tracked and manipulated by the third parties that the companies use for document storage, especially when the document involves multiple signatures. Using Blockchain can put an end to security tension. Blockchain stores the document by creating timestamps and also permits multiple signatures. The technology also has private access keys for the signers and the recipients, thus the documents could be securely stored.

The blockchain technology offers encryption and protection against tampering of information. Also, the technology uses hash (signature) for every block. When a new block is added to the chain a hash is generated, tampering the block would change the hash address making it invalid.

With all the new advancement, the organizations need not depend on the manual agreement procedures anymore. They can utilize these technologies and enhance their productivity, with minimal time-consuming process.

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