How to rethink protection and verification of business documents post-pandemic?

Introduction:

Why has it become more critical during a pandemic: Document protection is the eventual reliability factor for businesses to flourish in the market. Be it any industry such as food, pharmaceutical, educational, etc., the validated and verified documents mitigate the counterfeit risks and unearth the deceitful competitors.

Nonetheless, in 2020, around 4.8 million identity thefts and counterfeits have dropped a bombshell on the masses. This sudden rise in internet usage has skyrocketed search traffic and, in turn, paved the way for cybercrime activities.

This has also stirred a surge in businesses to top the lists and not sync up with the failures.

Need of document protection/verification for different businesses:

• • Functional Business Ecosystem/ Infrastructure:Though digitalisation may seem efficient to escape the onerous procedures, it still has many cons in the online world. Hackers are always looking for imbibing malware into websites, QR codes, passwords through document forgery. Devices such as printers, scanners, and USBs shared primarily in the workforce sometimes fail to limit the danger.

Therefore, document validation is a necessary tool to safeguard the vulnerabilities of businesses. The verification also enables the company to acquire statutory obligations, such as Anti-Money Laundering and Counter-Terrorism Financing.

• • • • • Workforce Verification and Security/ Vulnerability assessment:Employees are the golden assets of every organisation. The ones responsible for designing the architecture, involved in financial contracts, bringing innovative ideas, etc., can also become one of the most significant vulnerabilities. Stolen identities, irregular clock-ins, etc., cause threats that result from ignored red flags in the documents related to them. They have also been marked as the weakest link for security in 77% of the enterprises.

• • • • • Managed Supply chains:Loading, unloading, good overseas deliveries, etc., are not a child’s play. Businesses go through tremendous hectic processes to please their customers with faultless products. Even a tiny leak in the network can cause the entire chain to re-establish itself with client databases exposed to the offenders.

• • • • • Seamless online transactions:Be it at a bank, uber, or a shopping mall, online transactions have eased out the predicament of in-cash transactions. Even through these tough times, people can order food, electronics, and other materials at home with just a few simple steps. Customers have entrusted the organisations with their addresses, personal information due to secure interfaces provided by them.

• Prevention of all kinds of fraud:Since every details and transaction is inked on paper, be it offline or online, it becomes a highly susceptible source to access information of any individual or enterprise. Cybercriminals are aware of all kinds of illegal practices to forge an attack. Hence these possibilities cannot be ruled out, especially for newly established businesses. Therefore the foremost step is to secure the documents and then move ahead.

The types of frauds that can destruct one’s businesses are:

1. Viruses
2. Phishing Emails
3. Malware
4. Cyberstalking
5. DoS Attacks
6. Identity Theft
7. Credit/Debit Card theft
8. Corporate Data theft
9. Cyberextortion

Ensure document security with RightCliQ Blockchain Technology Solutions:

RightCliQ Solutions have transformed the visions of maximum safety of multiple businesses into reality by introducing many blockchain-based products.

• • VeriDoc SCM: The current scenario of COVID-19 disrupted the balance of the supply chains. The coupling of decreased mobility and increased demands of goods has resulted in a considerable fall of shares, business failures, and reduced costs of goods. Many sources have also confirmed that in 2020, 28.9% of organisations witnessed supply chain frauds.

Consequently, frauds, immobile services, invalid or wrong deliveries in supply chains have become strenuous to filter or resist. This puts an immense negative impact on businesses on the verge of thriving in the market.

With the VeriDoc Mobile app and Batch Manager Solutions, businesses can put these plights to rest once and for all. Apart from building product traceability in supply chains, the app can help customers secure the authenticity of their items by an effortless QR Code scanning.

• • • • • • ProofEasy: This out of the box solution technology is responsible for keeping all the original documents safe and secure in the cloud. It ensures decentralisation among an organisation which renders the product’s high quality, delivery and provides a comprehensive market emphasis.

ProofEasy enables an instant verification process for legal contracts, educational and business certificates with the help of unique QR codes. These codes are generated with an invested immutability that is an unalterable proof of a trusted reference point.

• • • • • • VeriDoc HR: The Consumer Sentinel Network sources stated that more than 200,000 (22.9%) cases of miscellaneous identity theft were reported in 2020. These thefts are attainable and more common in a large business where it gets rough to track every activity of thousands of employees.

To ease out the toil of employee tracking, VeriDoc has fabricated blockchain-based timesheets. These sheets are untraceable, tamper-proof, and installed with location-sensitive QR Codes. This all can be done via a click on the employee app designed for the exact purpose. It is an effective way for HRs to maintain employees’ personal and professional information and block any possibility of ghost employees.

All three solutions provide an analytical dashboard for businesses to keep track of all records and view them with maximum ease.

Conclusion:

The need for digital literacy has increased people’s dependability on the internet. Some can identify unlawful and fraudulent activities, whereas others fall prey to them in a jiff. Due to the virus outbreak and the extending pandemics, businesses have entered fierce competition in the market. The database validity and the drop-in employment rate give the company a hard time attaining fixed grounds.

However, with RightCliQ, the worries can take a backseat as the provided solutions are laid with highly innovative and secure interfaces. With no third-party interference, the ecosystem of the organisation remains decentralised, and the documents accumulated. Data integrity, security, and transparency become the foundation of the business goals and expanded clientele.