13
Nov’ 2019

Cybersecurity and e-signatures: challenges and opportunities

The challenges of cyber security and the increasing digitalization of processes are pushing companies to adopt electronic signature solutions.

The conference held by CAPZA in Paris on 29th October 2019 brought together in a wide variety of companies around the theme of cybersecurity in general and electronic signatures in particular. It was an opportunity to share the expertise of our portfolio company Ivnosys, a Spanish e-signature solutions expert.

 

The threat of data hacking, malware, fake websites, identity theft and ransomware is omnipresent. In this context, cybersecurity is becoming a major issue for companies.

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Cyber threats are diversified in terms of origin, motivation and resources. Some of them concern infrastructure, but most cyberattacks these days are targeted at software and data, and the number of such attacks is increasing by more than 30% each year.
“ 
Laurent Célérier, CTO of Orange Cyberdefense

Various approaches towards dealing with these risks are emerging. The first of these is tighter regulations, especially as regards the qualification of trust service providers (the eIDAS regulation*). In addition, companies are also investing to ensure they comply with regulations. What is more, “cybersecurity has become a business in its own right, as the market is growing by 12% annually and should be worth 3.3 billion euros in Western Europe by 2022”, notes Laurent Célérier.

A rapidly expanding market

 

Spain is a pioneer in the field of electronic signatures, especially when it comes to using digital certificates for corporate communications and for dealings with public administrations. Yet “so far only 7% of companies have implemented e-signature solutions in their operations”, notes Alfonso Tames Llana, Managing Director of Accenture (Innovation and Emerging Technologies Lead for Spain, Portugal and Israel). “However, around 50% of companies are currently considering incorporating eSign into their business processes”.

 

It is also thought that 85% of business document interactions will be managed by such solutions by 2025, along with 95% of banking processes. This wave of digitalisation will also spread to sectors such as healthcare and the justice system, where 90% of procedures involving individuals, businesses and administrations will include electronic signatures.

 

These figures give an idea of the effort and investment that will be required over the coming years.

We reckon that the volume of projects to implement eSign solutions will grow by an annual average of 30% in Europe between 2019 and 2025. Such solutions are essential to support a company’s digital transformation.
“ 
Alfonso Tames Llana, Managing Director at Accenture
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