{"id":999976732,"date":"2025-07-09T21:29:45","date_gmt":"2025-07-09T14:29:45","guid":{"rendered":"https:\/\/bizzi.vn\/?p=999976732"},"modified":"2026-06-09T13:43:38","modified_gmt":"2026-06-09T06:43:38","slug":"what-is-the-electric-cycle","status":"publish","type":"post","link":"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/","title":{"rendered":"What is an electronic signature, and why does a CFO need to understand it correctly when signing off on documents?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">What is an electronic signature from a CFO&#039;s perspective? More than just &quot;signing quickly&quot; to complete a procedure, an electronic signature is a... <\/span><b>legal and financial control points<\/b><span style=\"font-weight: 400;\"> They can decide whether that document is valid enough to approve expenses, pay invoices, or record liabilities.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When businesses misunderstand or implement electronic signatures haphazardly outside of established procedures, the risks often lie not in the signing process itself, but in the consequences: disputes over responsibility, discrepancies in reconciliation, delayed approvals causing cash flow disruptions, and data mismatches when integrated into the ERP system.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This article will help you understand correctly and comprehensively how to place electronic signatures in the right place within your financial control system for effective implementation.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Index<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Chu_ky_dien_tu_la_gi_theo_Luat_Giao_dich_dien_tu_2023_va_vi_sao_CFO_phai_hieu_dung\" >What is an electronic signature according to the Electronic Transactions Law 2023, and why is it crucial for CFOs to understand it correctly?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Chu_ky_dien_tu_va_chu_ky_so_khac_nhau_the_nao_khi_xet_duoi_goc_do_rui_ro_tai_chinh\" >How do electronic signatures and digital signatures differ from a financial risk perspective?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Gia_tri_phap_ly_cua_chu_ky_dien_tu_duoc_cong_nhan_khi_dap_ung_dieu_kien_nao\" >Under what conditions is an electronic signature recognized as legally valid?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Quy_trinh_ky_dien_tu_anh_huong_the_nao_den_chi_phi_va_dong_tien_doanh_nghiep\" >How does the electronic signature process affect business costs and cash flow?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Lam_sao_tich_hop_chu_ky_dien_tu_vao_quy_trinh_phe_duyet_chi_phi_ma_khong_dut_gay_ERP\" >How can we integrate electronic signatures into the expense approval process without disrupting the ERP system?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Bizzi_trong_phan_nay_dong_vai_tro_tao_ra_%E2%80%9Cdiem_kiem_soat_co_cau_truc%E2%80%9D\" >In this section, Bizzi plays the role of creating a \u201cstructured control point\u201d:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Chu_ky_dien_tu_ho_tro_quan_tri_cong_no_va_DSO_hieu_qua_hon_ra_sao\" >How do electronic signatures support more efficient accounts receivable and debt management (DSO)?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Bizzi_trong_phan_nay_la_lop_van_hanh_hoa_cong_no_dua_tren_ho_so_da_ky\" >Bizzi in this section is the debt management layer based on signed records:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Bang_so_sanh_Chu_ky_dien_tu_roi_rac_vs_Chu_ky_dien_tu_tich_hop_he_thong_kiem_soat_tai_chinh\" >Comparison Table: Discrete Electronic Signatures vs. Electronic Signatures Integrated into Financial Control Systems\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Cau_hoi_thuong_gap_FAQ\" >Frequently Asked Questions (FAQ)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Chu_ky_dien_tu_co_khac_chu_ky_so_khong\" >Is an electronic signature different from a digital signature?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Chu_ky_dien_tu_co_gia_tri_phap_ly_tuong_duong_chu_ky_tay_khong\" >Do electronic signatures have the same legal validity as handwritten signatures?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Doanh_nghiep_co_nen_cho_nhan_vien_dung_chu_ky_so_ca_nhan_khong\" >Should businesses allow employees to use personal digital signatures?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Remote_Signing_anh_huong_the_nao_den_bao_mat_tai_chinh\" >How does remote signing affect financial security?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Khi_khoa_bi_mat_bi_lo_hoac_token_hong_can_xu_ly_ra_sao\" >What should be done if the private key is compromised or the token is corrupted?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Chu_ky_dien_tu_co_giup_giam_rui_ro_kiem_toan_thue_khong\" >Can electronic signatures help reduce tax audit risks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Lam_sao_do_luong_hieu_qua_tai_chinh_khi_trien_khai_chu_ky_dien_tu\" >How can we measure the financial effectiveness of implementing electronic signatures?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Ket_luan\" >Conclude<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/bizzi.vn\/en\/what-is-the-electric-cycle\/#Bizzi_%E2%80%93_Giai_phap_giup_doanh_nghiep_chuyen_doi_so_toan_dien_va_ap_dung_chu_ky_dien_tu\" >Bizzi \u2013 A solution to help businesses achieve comprehensive digital transformation and implement electronic signatures.<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Chu_ky_dien_tu_la_gi_theo_Luat_Giao_dich_dien_tu_2023_va_vi_sao_CFO_phai_hieu_dung\"><\/span><b>What is an electronic signature according to the Electronic Transactions Law 2023, and why is it crucial for CFOs to understand it correctly?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Electronic signature<\/b><span style=\"font-weight: 400;\"> It is electronic data that is logically attached or linked to <\/span><b>data message<\/b><span style=\"font-weight: 400;\"> Its purpose is to verify the signatory and express approval of the content. In business, an electronic signature is <\/span><b>legal evidence<\/b><span style=\"font-weight: 400;\"> Decision-making regarding responsibility, risk control, and cash flow.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">From a CFO&#039;s perspective, &quot;understanding correctly&quot; goes beyond a definition and lies in three core questions:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Who signed:<\/b><span style=\"font-weight: 400;\"> Can the signatory be verified as the correct signatory (signatory verification)?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Sign what?<\/b><span style=\"font-weight: 400;\"> The signature is attached to the correct version of the document, and the content has not been altered after signing.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>When to sign:<\/b><span style=\"font-weight: 400;\"> Can the time of signing be traced and compared?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If electronic signatures are used merely as a formality, businesses may face very real risks:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Signing the wrong document\/wrong version can lead to incorrect payments or incorrect approval of obligations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Signing documents beyond one&#039;s authority leads to unclear individual accountability and weakens the internal control system.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Signing documents outside the official system fragments records, making them difficult to prove during audits, disputes, or post-audits.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Key terms that CFOs should be familiar with in this content include: <\/span><b>Data message, signatory authentication, content consent, legal evidence, non-repudiation.<\/b><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-999976735\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/chu-ky-dien-tu-la-gi.jpg\" alt=\"\" width=\"1920\" height=\"1080\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/chu-ky-dien-tu-la-gi.jpg 1920w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/chu-ky-dien-tu-la-gi-300x169.jpg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/chu-ky-dien-tu-la-gi-1024x576.jpg 1024w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/chu-ky-dien-tu-la-gi-768x432.jpg 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/chu-ky-dien-tu-la-gi-1536x864.jpg 1536w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/chu-ky-dien-tu-la-gi-18x10.jpg 18w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Chu_ky_dien_tu_va_chu_ky_so_khac_nhau_the_nao_khi_xet_duoi_goc_do_rui_ro_tai_chinh\"><\/span><b>How do electronic signatures and digital signatures differ from a financial risk perspective?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>A digital signature is a type of electronic signature.<\/b><span style=\"font-weight: 400;\"> Digital signatures utilize public-key cryptography to ensure integrity, authenticity, and non-repudiation. This is why businesses often prioritize digital signatures when strong legal evidence and clear accountability are required.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The key point to understand correctly is the &quot;subset&quot; relationship:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Digital signature \u2282 electronic signature. Not all electronic signatures are digital signatures, but digital signatures are always electronic signatures.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In terms of mechanism, digital signatures are based on the PKI platform:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The private key is used for signing: whoever controls the private key is responsible for signing.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The public key is used to verify signatures: it helps the recipient\/auditor confirm the validity of the signature.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Digital certificates issued by CAs help link the subject&#039;s identity to the public key, increasing the ability to prevent repudiation and hold individuals accountable in case of disputes.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When are &quot;simple&quot; electronic signatures not secure enough? Usually, it&#039;s in high-risk situations:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Approve large-value payments or payments based on completion milestones.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Contract\/appendix amends payment terms, price, and quantity.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Acceptance testing, handover, and debt confirmation \u2013 where a single incorrect signature can &quot;unlock&quot; an improper financial obligation.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">CFO&#039;s perspective: Confusion between electronic signatures and digital signatures often leads to <\/span><b>Choosing the wrong level of control<\/b><span style=\"font-weight: 400;\"> for a transaction. As a result, the business can &quot;sign&quot; the agreement but cannot &quot;defend&quot; it when proof is needed.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Gia_tri_phap_ly_cua_chu_ky_dien_tu_duoc_cong_nhan_khi_dap_ung_dieu_kien_nao\"><\/span><b>Under what conditions is an electronic signature recognized as legally valid?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Electronic signatures have legal validity when the signatory can be identified, the content is guaranteed not to be altered after signing, and they can be verified and compared in case of disputes or audits.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In auditing and dispute resolution, electronic signatures stand firm when businesses can demonstrate four layers of verification:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Authentication<\/b><span style=\"font-weight: 400;\">: Verify that the signatory is the correct signatory (who signed).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Integrity<\/b><span style=\"font-weight: 400;\">: The content will not be modified after signing (what is signed).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Homestamp<\/b><span style=\"font-weight: 400;\">: has a reliable timestamp (when was it signed).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Audit trail &amp; verifiability<\/b><span style=\"font-weight: 400;\">: It has a traceability log and the ability to independently verify (who approved it, what flow it was, what was the basis).<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Without an audit trail, businesses can easily fall into the situation of &quot;having signatures but unable to prove the process,&quot; significantly increasing the risk when the auditing agency asks: under what authority were the signatures made, based on what budget, and whether there was a separation of duties (SoD).<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-999976736\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/luat-giao-dich-dien-tu.jpg\" alt=\"\" width=\"1920\" height=\"1080\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/luat-giao-dich-dien-tu.jpg 1920w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/luat-giao-dich-dien-tu-300x169.jpg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/luat-giao-dich-dien-tu-1024x576.jpg 1024w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/luat-giao-dich-dien-tu-768x432.jpg 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/luat-giao-dich-dien-tu-1536x864.jpg 1536w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/luat-giao-dich-dien-tu-18x10.jpg 18w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Quy_trinh_ky_dien_tu_anh_huong_the_nao_den_chi_phi_va_dong_tien_doanh_nghiep\"><\/span><b>How does the electronic signature process affect business costs and cash flow?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Fast and accurate electronic signatures shorten the approval-payment cycle, thereby improving working capital turnover and reducing operating costs due to delays and reconciliation errors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In financial operations, the relationship is linear:<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><b>Sign\/Approve \u2192 Payment \u2192 Cash Flow<\/b><\/p>\n<p><span style=\"font-weight: 400;\">When signatures become an &quot;approval bottleneck,&quot; businesses will see hidden costs increase:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Late payments may result from revolving documents, missing information, or incorrect signed versions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Increased costs for handling exceptions (correcting documents, reconciling, requesting re-signing).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cash flow forecasts are inaccurate due to unclear approval status.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The formula commonly used by CFOs to quantify the impact on the accounts payable side is:<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><b>DPO = (Accounts Payable \/ Cost of Goods Sold) \u00d7 365<\/b><\/p>\n<p><span style=\"font-weight: 400;\">If slow approvals prevent businesses from taking advantage of optimal payment terms, or frequently lead to overdue payments, opportunity costs increase and the quality of cash forecasts decreases.<\/span><\/p>\n<p><b>Bizzi in this process<\/b><span style=\"font-weight: 400;\"> This should be considered a layer of control before money leaves the account:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">After signing, documents\/invoices are moved to a centralized processing stream instead of being lost in emails.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bizzi Bot supports data extraction and invoice content reconciliation; for businesses managing purchases by purchase order (PO)\/gross order (GR), the PO\u2013Invoice\u2013GR logic helps detect discrepancies before payment.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Early detection of discrepancies helps reduce the risk of incorrect or delayed payments due to the need to reprocess records.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Lam_sao_tich_hop_chu_ky_dien_tu_vao_quy_trinh_phe_duyet_chi_phi_ma_khong_dut_gay_ERP\"><\/span><b>How can we integrate electronic signatures into the expense approval process without disrupting the ERP system?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Electronic signatures are only truly effective when integrated into the expense approval workflow, linked to budget limits and ERP data, rather than being signed separately outside the system.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Three common risks of signing contracts outside of official channels:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Loss of budget control<\/b><span style=\"font-weight: 400;\">: Only after signing did they discover the budget\/cost center error.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Weak SoD<\/b><span style=\"font-weight: 400;\">The roles of the proposer, the approver, and the payer are not clearly separated.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>ERP data disruption<\/b><span style=\"font-weight: 400;\">: The signed documents are scattered and not linked to the accounting entries\/payment records.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The correct implementation usually starts with \u201csigning authority design\u201d:<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">Who is authorized to sign which types of documents?<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">How much money is required for signing the contract?<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">How are budget overruns handled?<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">When authorization is granted, how is the audit trail recorded?<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Bizzi_trong_phan_nay_dong_vai_tro_tao_ra_%E2%80%9Cdiem_kiem_soat_co_cau_truc%E2%80%9D\"><\/span><b>In this section, Bizzi plays the role of creating a \u201cstructured control point\u201d:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Set up the approval matrix in Bizzi Expense<\/b><span style=\"font-weight: 400;\"> by budget, department, and type of expenditure (Opex\/Capex, hospitality, business trips, procurement, etc.).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Only proceed to the signing stage when the expenditure is within the approved budget\/allowance.<\/b><span style=\"font-weight: 400;\"> Or there are clear escalation mechanisms when the threshold is exceeded.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Cost data and approval status are standardized.<\/b><span style=\"font-weight: 400;\">It&#039;s easy to synchronize with accounting\/ERP systems, saving CFOs from having to manually reconfigure things at the end of the period.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The result the CFO received was: the signature became <\/span><b>control point in the system<\/b><span style=\"font-weight: 400;\">, not a purely formal &quot;final move&quot;.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Chu_ky_dien_tu_ho_tro_quan_tri_cong_no_va_DSO_hieu_qua_hon_ra_sao\"><\/span><b>How do electronic signatures support more efficient accounts receivable and debt management (DSO)?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Electronic signatures help standardize contracts and accounts receivable documents, creating a clear legal basis for debt reminders, reconciliation, and shortening the number of days to collect (DSO).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the revenue side, electronic signatures are becoming increasingly important in documents related to &quot;decisions on the right to claim payment&quot;:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">contract\/order,<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">acceptance report\/handover report<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Confirm outstanding debts,<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Appendix amending the payment terms.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The formula used by CFOs to track cash collection performance:<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><b>DSO = (Accounts Receivable \/ Revenue) \u00d7 365<\/b><\/p>\n<p><span style=\"font-weight: 400;\">If documents are signed late or lack clear legal basis, the debt collection and dispute resolution process will be prolonged, causing DSO to increase and cash-in forecasts to become less reliable.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bizzi_trong_phan_nay_la_lop_van_hanh_hoa_cong_no_dua_tren_ho_so_da_ky\"><\/span><b>Bizzi in this section is the debt management layer based on signed records:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>The contract\/agreement is signed electronically and stored centrally.<\/b><span style=\"font-weight: 400;\">, linked to customer records and payment terms for quick tracing in case of disputes.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bizzi ARM supports debt reconciliation and reminders.<\/b><span style=\"font-weight: 400;\"> According to the signed agreement, this reduces reliance on &quot;manual file searching&quot; and speeds up cash collection.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The CFO monitors the status of applications and collection progress in near real-time, rather than waiting for the end-of-period report.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Bang_so_sanh_Chu_ky_dien_tu_roi_rac_vs_Chu_ky_dien_tu_tich_hop_he_thong_kiem_soat_tai_chinh\"><\/span><b>Comparison Table: Discrete Electronic Signatures vs. Electronic Signatures Integrated into Financial Control Systems\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<tbody>\n<tr>\n<td><b>Criteria<\/b><\/td>\n<td><b>Disjoint electronic signatures (email\/chat\/separate files)<\/b><\/td>\n<td><b>Electronic signatures integrated with financial control.<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Legal<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Difficult to prove the process; lack of consistent evidence.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Easy to trace transaction records; increased probative value.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Content control<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Easy to sign the wrong version; difficult to ensure integrity.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The process focuses on reducing version errors; reconciliation before payment.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Budget control<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Only after signing did they discover it exceeded the budget.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Attach approval matrix and limits before signing.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Cash flow<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Approval delays \u2192 delayed payments\/collections<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Reduce bottlenecks, speed up the approval-payment-collection cycle.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Auditing<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Audit trails are fragmented and require lengthy explanations.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Centralized audit trail, fast retrieval by vendor\/contract\/expense<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-999976738\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/scanned-signature.jpg\" alt=\"\" width=\"1920\" height=\"1080\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/scanned-signature.jpg 1920w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/scanned-signature-300x169.jpg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/scanned-signature-1024x576.jpg 1024w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/scanned-signature-768x432.jpg 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/scanned-signature-1536x864.jpg 1536w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/scanned-signature-18x10.jpg 18w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cau_hoi_thuong_gap_FAQ\"><\/span><b>Frequently Asked Questions (FAQ)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Chu_ky_dien_tu_co_khac_chu_ky_so_khong\"><\/span><span style=\"font-weight: 400;\">Is an electronic signature different from a digital signature?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Yes. Digital signatures are a type of electronic signature based on asymmetric key cryptography (PKI), often accompanied by a digital certificate issued by a CA, increasing non-repudiation and verification capabilities.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Chu_ky_dien_tu_co_gia_tri_phap_ly_tuong_duong_chu_ky_tay_khong\"><\/span><span style=\"font-weight: 400;\">Do electronic signatures have the same legal validity as handwritten signatures?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Depending on the conditions and type of electronic signature, the Law on Electronic Transactions 2023 stipulates the legal validity of an electronic signature when it meets the recognition requirements as prescribed (identifying the signatory, ensuring the content, verifiable\/comparable, etc.).\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Doanh_nghiep_co_nen_cho_nhan_vien_dung_chu_ky_so_ca_nhan_khong\"><\/span><span style=\"font-weight: 400;\">Should businesses allow employees to use personal digital signatures?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Internal control policies need to clearly define who is authorized to sign which types of documents, the limits on this authority, the authorization mechanism, and individual accountability. Without an approval matrix and a Statement of Documents (SoD), the risk of signing incorrectly or exceeding authority increases.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Remote_Signing_anh_huong_the_nao_den_bao_mat_tai_chinh\"><\/span><span style=\"font-weight: 400;\">How does remote signing affect financial security?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Remote signing speeds up operations but requires stronger control over identity, key\/HSM management or cloud-based signing models, along with fraud monitoring and traceability logs.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Khi_khoa_bi_mat_bi_lo_hoac_token_hong_can_xu_ly_ra_sao\"><\/span><span style=\"font-weight: 400;\">What should be done if the private key is compromised or the token is corrupted?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The incident response process needs to be activated: certificate revoking\/blocking via the CA, replacing the device\/block, and reviewing transactions signed during the suspected risk period.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Chu_ky_dien_tu_co_giup_giam_rui_ro_kiem_toan_thue_khong\"><\/span><span style=\"font-weight: 400;\">Can electronic signatures help reduce tax audit risks?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This is possible if the business has a complete audit trail, centralized record keeping, pre-payment document reconciliation, and a link to accounting entries\/contracts.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lam_sao_do_luong_hieu_qua_tai_chinh_khi_trien_khai_chu_ky_dien_tu\"><\/span><span style=\"font-weight: 400;\">How can we measure the financial effectiveness of implementing electronic signatures?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Track before-and-after metrics: approval time, return rate, number of payment exceptions, and impact. <\/span><b>DPO\/DSO\/working capital<\/b><span style=\"font-weight: 400;\">When signatures are integrated into the control workflow, these metrics typically improve more significantly compared to signing separately.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ket_luan\"><\/span><b>Conclude<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">An electronic signature is not a &quot;signing tool&quot; but rather... <\/span><b>checkpoint<\/b><span style=\"font-weight: 400;\"> Electronic signatures determine the validity, accountability, and continuity of financial data. CFOs will benefit most when electronic signatures are properly placed in the process: signing with the right authority, within the right budget, on the right documents, and traceable.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If implemented in a fragmented manner, businesses may be able to sign documents quickly, but this comes at the cost of disputes, discrepancies in reconciliation, and ERP system disruptions. By integrating electronic signatures into workflows for cost control, invoice reconciliation, and accounts receivable management, businesses reduce risks and improve cash flow quality.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In that model, Bizzi acts as a control system for the buyer: standardizing approvals by credit limit, increasing pre-payment reconciliation capabilities, and managing accounts receivable based on centralized electronic signatures, helping CFOs make decisions on clean and consistent data.<\/span><\/p>\n<p>_____<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bizzi_%E2%80%93_Giai_phap_giup_doanh_nghiep_chuyen_doi_so_toan_dien_va_ap_dung_chu_ky_dien_tu\"><\/span>Bizzi \u2013 A solution to help businesses achieve comprehensive digital transformation and implement electronic signatures.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the context of explosive digital transformation, the question \u201cwhat is an electronic signature\u201d is not just a concept but has become an essential need of every modern business. Bizzi offers a comprehensive digital solution ecosystem, helping to integrate and deploy electronic signatures seamlessly into accounting, financial and operational processes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here&#039;s how Bizzi helps businesses apply electronic\/digital signatures in each important transaction:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>B-invoice (<\/b><a href=\"https:\/\/bizzi.vn\/hoa-don-dien-tu\/\"><b>Electronic bill<\/b><\/a><b>):<\/b><span style=\"font-weight: 400;\"> Solution <\/span><a href=\"https:\/\/bizzi.vn\/hoa-don-dien-tu-la-gi-phan-loai-va-huong-dan-chi-tiet-ve-phat-hanh-va-su-dung-hoa-don-dien-tu\/\"><span style=\"font-weight: 400;\">Electronic invoice<\/span><\/a><span style=\"font-weight: 400;\"> Bizzi&#039;s allows businesses to issue, download and store invoices with integrated valid digital signatures in accordance with regulations. This completely replaces traditional paper invoices, ensuring legality and data integrity.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Automatic processing and reconciliation of input invoices (IPA + 3-way matching):<\/b><span style=\"font-weight: 400;\"> Bizzi helps accountants check, reconcile and archive incoming invoices without manual operations. Although it does not generate direct electronic signatures, the solution operates efficiently within a fully digitized process where digitally signed documents are processed securely and quickly.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/bizzi.vn\/quan-ly-chi-phi\/\"><b>Bizzi Expense<\/b><\/a><b> \u2013 Expense management:<\/b><span style=\"font-weight: 400;\"> This solution digitizes the budgeting, tracking, and approval process with electronic confirmation steps, instead of manual signatures on paper. This reduces errors, increases transparency, and speeds up approvals.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bizzi Travel \u2013 <\/b><a href=\"https:\/\/bizzi.vn\/bao-cao-cong-tac-phi\/\"><b>Management of per diem expenses<\/b><\/a><b>:<\/b><span style=\"font-weight: 400;\"> Booking tickets, approving business trips and managing expenses are all automated. Electronic signatures help legalize relevant documents without requiring hard copies, thereby streamlining administrative procedures.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>ARM \u2013 <\/b><a href=\"https:\/\/bizzi.vn\/quan-ly-cong-no\/\"><b>Debt control<\/b><\/a><b>:<\/b><span style=\"font-weight: 400;\"> Bizzi supports automatic debt tracking and reminders. Documents such as debt reconciliation reports, when integrated with electronic signatures, will ensure legality, minimize disputes and increase transparency in financial relations with partners.<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-999976734\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/quan-ly-chi-phi-5-trong-1.jpg\" alt=\"\" width=\"1920\" height=\"1080\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/quan-ly-chi-phi-5-trong-1.jpg 1920w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/quan-ly-chi-phi-5-trong-1-300x169.jpg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/quan-ly-chi-phi-5-trong-1-1024x576.jpg 1024w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/quan-ly-chi-phi-5-trong-1-768x432.jpg 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/quan-ly-chi-phi-5-trong-1-1536x864.jpg 1536w, https:\/\/bizzi.vn\/wp-content\/uploads\/2025\/07\/quan-ly-chi-phi-5-trong-1-18x10.jpg 18w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Bizzi&#039;s solution aims to eliminate manual paperwork, shorten business processing time, minimize errors and operating costs. With a strong technology platform, businesses can confidently transform digitally and comply with legal regulations more easily.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To improve the efficiency of invoice management as well as automate the financial and accounting processes of the business. Register to experience Bizzi&#039;s comprehensive solution suite today!<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Link to register for a trial of Bizzi products: <\/span><a href=\"https:\/\/bizzi.vn\/dang-ky-dung-thu\/\"><span style=\"font-weight: 400;\">https:\/\/bizzi.vn\/dang-ky-dung-thu\/<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Schedule a demo: <\/span><a href=\"https:\/\/bizzi.vn\/dat-lich-demo\/\"><span style=\"font-weight: 400;\">https:\/\/bizzi.vn\/dat-lich-demo\/<\/span><\/a><\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>What is an electronic signature from a CFO&#039;s perspective? It&#039;s not just about &quot;signing quickly&quot; to complete procedures; an electronic signature...<\/p>","protected":false},"author":57,"featured_media":999976733,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_theme","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[76,85,372],"tags":[],"class_list":["post-999976732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-goc-nhin-cfo","category-kiem-soat","category-thanh-toan"],"acf":[],"_links":{"self":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999976732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/comments?post=999976732"}],"version-history":[{"count":3,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999976732\/revisions"}],"predecessor-version":[{"id":999980056,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999976732\/revisions\/999980056"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media\/999976733"}],"wp:attachment":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media?parent=999976732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/categories?post=999976732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/tags?post=999976732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}