As the digital transformation of the work environment and economy builds to a peak amidst the pandemic, digital signatures continue to rise in popularity globally and in Indonesia. DocuSign, Inc,. global electronic and digital signature provider, recorded revenues of USD 545.5 million for Q3 3021, or an increase of 42% Year-on-Year (YoY). With a global user count reaching 1.1 million users, DocuSign claims that the digital signature total addressable market - TAM is still wide open, reaching USD 25 trillion in value. In Indonesia, this trend can be seen with the increasing number of digital signature providers entering the industry.
As one of the licensed Certification Authorities (CA) in Indonesia, PT Indonesia Digital Identity (VIDA) validated this optimism. Gajendran Kandasamy, VIDA’s Co-Founder and Chief Operating Officer said, “In line with the current global trend, the pandemic has increased the usage of digital platforms that support Work From Home and Remote Work in Indonesia. Through access management, verification and identity authentication, and certified digital signature, we helped our business partners protect users' digital identity and grow their business quickly and efficiently. Moreover, as more companies tend to maintain the digitized workflow culture post-pandemic, we are optimistic that the industry will continue to grow.
As digital signature usage becomes more popular in Indonesia, regulations from the government provide legal certainty for the use of digital signatures. In Indonesia, digital signatures have been ratified by the 2008 Law of Electronic Information and Transactions (“UU ITE”), followed by Government Regulation (GR) no. 71 of 2019 (“GR 71/2019”). During the 2018-2020 period, Indonesian Ministry of ICT (“Kominfo '') recorded over 2,58 million digital certificates that have been issued to guarantee certified digital signatures.
Gajendran added “Digital certificates improve the security of electronic system providers significantly, particularly authenticity, integrity, and nonrepudiation. In order to perform the role of a trusted entity that guarantees that the owner of the unique digital certificate is whom they claim to be, VIDA adopts a highly security conscious culture with stringent processes. Internally, we have different divisions, namely Governance, Risk, and Compliance (GRC), Regulatory Compliance and Security Operations Center (SOC) that ensures technical , legal and implementation requirements have been met. We also undergo a rigorous audit program comprising independent internal and external auditors covering technical requirements (WebTrust CA 2.2, Webtrust SSL), security management (ISO 27001 and ISO 27701), regulatory l standard (Regional Personal Data Protection Acts as well asGDPR).”
In addition to VIDA being licensed (PSrE) and rooted under Kominfo, VIDA also became the first Indonesian CA to receive WebTrust global certification. VIDA is also listed in the Financials Service Authority (OJK) regulatory sandbox. In under 3 years, VIDA’s progress has earned the trust of numerous global digital signature providers validating their digital signature in Indonesia through a digital certificate that is issued by VIDA.
“At the beginning of 2021, VIDA strengthened its positioning as Indonesian CA Trust Service Provider for global players in digital signatures. This signifies ’ confidence of industry leaders in VIDA’s compliance to global legal and security standards. Aligning with the government's mission to promote a secure digital ecosystem in Indonesia, we hope to contribute to inclusive growth of Indonesia's digital industry.“ Gajendran concluded.