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Busting 5 Myths About the Digital Document Industry

The pandemic has accelerated digital transformation, increasing the adoption of electronic signing solutions. But many of these solutions are rooted in old technology. Blockchain adoption provides a next-gen path for digital documents.

We’re all tired of hearing about the pandemic, but one positive which has come out of it is the widespread adoption of digital technologies for everything from work from home to supply chains, and the way companies handle the myriad of documents they need to deal with every week.

According to a McKinsey Global Survey of Executives, companies have accelerated digitisation by three to four years during the pandemic, while the share of digitally enabled products has accelerated by seven years. The leap ahead is even greater in APAC, moving forward by ten years...more

One positive outcome of the pandemic is the widespread adoption of digital technologies for everything from work from home to supply chains. Read more.

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Beating the Bias: The Glass Ceiling effect and its impact on women in the workplace

Daphne Ng, CEO and Co-Founder of Dedoco

“Technology is the core of the digital economy. Working in a male-dominated industry where women only make up around 30% in STEM, it’s critical to have representation in a sector where I see the future of work headed. The rapid digital advancement of our world provides an abundance of opportunities, which is why I want to help drive diversity in this field.

“Growing up in a family business environment, I understood the importance of guidance and leadership from early on, which also laid the foundation of my journey to becoming the CEO of a technology start-up.

“Furthermore, I want to keep encouraging women to pursue careers in technology, which is why we launched a Girls-in-Tech (GIT) Hub in January of this year. It’s a forum for inspiring, nurturing, and mentoring the company’s female employees to cultivate an empowered team.”

Full article: https://dynamicbusiness.com/topics/small-business-resources/women-in-business/ating-the-bias-the-glass-ceiling-effect-and-its-impact-on-women.html

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Daphne Ng – Entrepreneurship as her life’s Work

For many of us, we often refer to achievements and success in our own vocation as our life’s work. For Daphne Ng, Co-Founder and CEO of Dedoco, she chooses entrepreneurship as her life’s work.

Growing up in a family that ran a business in the travel and hospitality industry, Daphne watched her family toil endlessly to meet the needs of their customers. As a child, she remembered contributing in the smallest of ways – such as by obediently, handing out flyers near escalators at every NATAS fair.

“Booking vacations online was not the norm back then, so all vacations were booked via a tour agency. Agencies were responsible for every aspect of the tour, from booking the flight, and right down to their itinerary meals,” she recounts.

Nurtured in such a familial environment, it is little surprise that Daphne spent her formative years learning the ropes of business, management and finance – topics commonly discussed at the dinner table...more

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Balancing the Grind with Daphne Ng, Co-Founder & CEO at Dedoco

1) To kick things off, could you tell us a little about your career background and current role?

I am the Co-Founder and CEO of Dedoco, which I established in early 2020 with my other co-founder/CTO Dr Ernie Teo.

Dedoco stands for ‘Decentralized Document Connector’ and we are a blockchain-based, digital document workflow platform with clients in the government, banking, professional services and real estate sectors.

Currently, we have offices in Singapore, Malaysia and Australia. I have been in the technology space for 5 years now, and prior to that I was in corporate banking for 8 years.

2) What does a day in your life look like for you? Can you take us through a recent workday?

I am a morning person and my brain is most active in the mornings. Hence my one-down meetings with my team leaders and division heads are usually in the mornings.

The rest of the day is usually packed with business lunches and meetings, and my team has access to my calendar which is open for them to check and book my time.

I also try to do lunchtime yoga or pilates twice a week, as the studio is a walking distance from my Robinson Road office.

3) Does your current role allow for flexible or remote working? If so, how does that fit into your life and routine?

Dedoco was born during the COVID period in March last year and hence remote working was the default mode for our team in the beginning.

Hence we are very adept with a hybrid work model, where we allow our team members the flexibility to work remotely and/or do collaborative work in the office – whatever works best for them and their tasks. Similarly for me, I work on the go, wherever and whenever.

4) What does work-life balance mean to you and how do you work to achieve that goal?

To me, it’s about being balanced mentally, emotionally and physically. Work takes up 70% of our time and hence it’s important to do work that keeps us spirited, motivated and happy. I love the intensity and adrenaline of running a fast paced start-up: chasing deals, over-achieving, dreaming higher and always reaching for more.

But at the same time, I also love having fun and setting aside time for social activities with my friends over food, good whisky and great conversations. In short, I believe in having full control over your time and doing whatever makes you happy.

5) In the past 12 months, have you started or stopped any routines or habits to change your life?

Since COVID, I have been more consistent in my art endeavors, which is also an avenue for me to de-stress. Every weekend, I do acrylic and abstract painting, as I build up my collection of artwork for commissioning. My current two passions: Dedoco and Art.

Full article here: https://balancethegrind.co/interviews/daphne-ng-co-founder-ceo-at-dedoco/

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True Global Ventures Invest 3M with Dedoco Web3

Singapore, 1st July 2021 - Dedoco, Singapore’s first decentralized digital document and signing platform, today announces the completion of its seed investment round led by Vertex Ventures Southeast Asia. The completion of this round brings Dedoco’s seed capital sum to SGD 3.3 million.

Co-founded in 2020 by tech entrepreneur Daphne Ng and Dr. Ernie Teo, Dedoco is a first-of-its-kind digital document and signing solution that seeks to transform the way enterprises manage digital workflows while issuing trusted, verifiable documents and credentials. Dedoco enables document authentication by securing real-time verification options while an audit trail is recorded on the blockchain to maintain transaction integrity. This allows users to maintain greater governance and convenience over their daily processes.

One of Dedoco’s key differentiators is the platform’s ability to provide privacy and security options to organizations and users. As a result, this safeguard enables the sharing of company documents and sensitive information in a secure manner. The ability to deliver and complete documents digitally also removes the need for physical documents to be couriered, thus helping organizations achieve better productivity with savings in terms of cost and time.

Dedoco envisions an API-first, modularized approach that allows companies and digital platforms to experience seamless and secure document transactions with their stakeholders without compromising convenience, flexibility, or privacy.

Enabling Leading-Edge Digital Document and Signing Capabilities in a Post-Pandemic World

Businesses across all industries are rapidly normalizing the use of electronically signed contracts, agreements, and other legal documentation. With “Sign with Singpass” by the Government Technology Agency of Singapore, Dedoco is one of the first digital signing application providers to offer this new feature to more than 2.5 million registered Singpass app users so that they can digitally sign documents.

Moving forward, Dedoco looks to further penetrate the global Software-as-a-Service (SaaS) market with its 'data privacy, compliance and embedded trust' proposition to provide more industries and organizations with the ability to access and transact trusted documents globally.

To date, Dedoco has clients that span government organizations, banks, professional services (HR, accounting, and corporate services), and real estate.

Extending Dedoco’s Global Footprint

With this seed round, Dedoco will expand into new markets, and scale its platform and technology to support a robust product roadmap focusing on delivering the solution to organizations and users globally. New features will also be progressively rolled out over the next 12 to 24 months with an emphasis on increasing connectivity with various cloud and system partners.

“Document security and privacy are vital for both MNCs and SMEs alike because they protect important document data and business interests. We understand the infrastructure that needs to be developed and are working alongside enlightened organizations to build and strengthen their digital document workflows. We are excited to partner with Vertex Ventures SEA to make our suite of solutions accessible to more governments and businesses in this region,” says Daphne Ng, Co-Founder and CEO of Dedoco.

“Current competing solutions rely on centralized trust and take custody of digital documents. This is a huge security concern especially for companies dealing with highly sensitive and confidential documents. At Dedoco, we take a different approach with a decentralized architecture and a no-store solution to provide our clients with the highest form of data and document privacy,” adds Ernie Teo, Co-Founder and CTO of Dedoco.

The COVID-19 pandemic has led to an urgent need for companies to be digitally ready as virtual interactions have become anew norm. Dedoco has demonstrated its ability to address the pain points currently faced by many users and the industry. We are excited to back this exceptional team as they continue to build this decentralized document infrastructure platform to create seamless and secure transactions and provide enterprises a seamless platform to manage their whole digital workflow,” says Chua Joo Hock, Managing Partner of Vertex Ventures SEA.

Dedoco is also well backed by prominent angel investors like Willy Arifin (whose investments include Homage in Singapore, and BukuKas, KoinWorks in Indonesia) and Ong Chee Beng (tech veteran and most recently, Country Manager of AWS Singapore).

About Dedoco

Dedoco is a decentralized digital document and workflow management platform that provides customers across a range of sectors with trusted, verifiable, and connected documents that can integrate with existing platforms. As an industry-leading solution that is ISO 27001 certified and Infocomm Media Development Authority (IMDA) accredited, Dedoco improves efficiency and compliance while empowering the user with a no-store, tamper-proof solution. In maintaining the highest transaction integrity, Dedoco seeks to transform the way organizations manage document workflows.

About Vertex Ventures Southeast Asia (VVSEA)

Vertex Ventures Southeast Asia (VVSEA) is a leading venture capital investor in Southeast Asia and India. It has a long and strong track record of investing in early-stage startups and building champions like Grab, Patsnap, 17Live, Nium, FirstCry, Licious, AsianParents, Validus, Warung Pintar and others.  VVSEA is part of the global Vertex Ventures network of funds.  Its global network also comprises affiliates in Silicon Valley, China and Israel. Providing anchor funding and operational support to these venture capital funds, Vertex Ventures network has 6 network funds, more than 90 professionals globally, over US$4 billion assets under management, and more than 200 active portfolio companies.

For more information about Vertex Ventures SEA, please visit: https://www.vertexventures.sg  

Dedoco secures US$3 million funding from True Global Ventures 4 Plus (TGV4 Plus) Fund to fuel its global expansion. Read the full story on this page today.

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Digital Signing Singapore | Dedoco and SingPass: The Future of Electronic Signatures

Singapore Personal Access, better known as Singpass, is the trusted digital identity that allows Singapore residents to easily and securely access over 1,400 government and private sector services both online and in-person.

Aren't you tired of bringing stacks of documents when you need to verify your identity? Is the cost of mailing lengthy contracts back and forth between businesses eating at your pockets?

With the new and improved Singpass, users may log in to digital services, authenticate their identity at counters, digitally sign papers, and more.

The Government Technology Agency (GovTech) is in charge of Singpass, ensuring the utmost security regarding your document data and personal information.

But where does Dedoco come into this?

Dedoco is a digital signing and document platform based on the concepts of Privacy, Trust, and Security through a decentralised, end-to-end capability, as we strive to be more than just a digital signature solution.

Our solution is designed to improve efficiency and compliance while also ensuring document security and data privacy.

Our decentralised architecture is unique in that we don't keep a copy of your papers on our systems or have access to them. Our smart contracts, which include both automation and tamper-proofing functionalities, allow you to create and control business operations from start to finish.

With the comprehensive cybersecurity measures of Dedoco and the certification authority of SingPass, we combined the industry best practices into one user-friendly experience for all.

Sign with Singpass

The Singapore government is moving towards becoming a smart nation. This has become especially important in the emergence of social distancing measures due to the COVID-19 pandemic.

In July 2020, GovTech unveiled the “Sign with SingPass” feature, which provides SingPass users with the use of secure electronic signatures. It follows the launch of the “SingPass Face Verification” service.

These new services are part of the National Digital Identity (NDI) Smart Nation strategic national project, which aims to build a trusted digital identity ecosystem for citizens, public agencies and private sector companies.

As recognised under Singapore’s Electronic Transactions Act 2010 (ETA), electronic signatures are the functional equivalent of "wet-ink" signatures.

The ETA provides for the legal recognition and use of electronic signatures, with the fulfilment of these requirements:

  • There must be reliable assurance about the integrity of information in the electronic record, from when it was first made in until its final form.
  • Where the electronic record is to be provided to a person, it must be capable of being displayed to that person.
  • It must comply with any additional requirements relating to electronic records specified by GovTech.

What are the Benefits of Digital Signing in Singapore?

The use of electronic signatures can greatly improve productivity and save time and money, especially in these cases:

  • Signatures from multiple parties are required, such as a shareholders’ or directors’ resolution.
  • Several of the required signatories are situated overseas, where you would traditionally mail the documents back and forth.

Electronic signatures also heighten security.

You may wonder: 'Isn't my physical signature the most secure way to sign?'

That may be the case if you are the one signing, of course.

However, forgeries are the biggest weakness in physical signatures, such as the case of a person who forged his company director's signature and submitted a false cash payment application form. Both the company and forger were penalised as a result.

Hence, the Singapore Government promises security for SingPass users with these features:

  • Two-step verification for more than 100 services that involve sensitive information. When users perform sensitive transactions, a one-time password will be sent to users' mobile phones or generated through a token.
  • Users will receive SMS or e-mail notifications when anything is changed in their accounts or profiles, such as password resets.
  • All electronic signatures via SingPass are encrypted, and a person's identity is validated against the Government's database at the point of signing.

Meanwhile, Dedoco's platform sets itself apart from other solutions by ensuring that we have none of your sensitive and confidential documents on our servers.

Our 'check hash' feature assists in validating the document's integrity by ensuring that it is the original version. Any modification to the document will result in a new hash, rendering it tamper-proof.

There will be no way to misuse your electronic signatures.

Can Electronic Signatures be Used for Everything?

There are certain exclusions for the use of electronic signatures in Singapore. The following cases are excluded from the ETA and therefore cannot be electronically signed:

  • Wills
  • Any transferable document or instrument that entitles the bearer or beneficiary to claim the delivery of goods or the payment of a sum of money, such as documents of title, bills of exchange, promissory notes, consignment notes, warehouse receipts etc
  • The creation, performance or enforcement of an indenture, a declaration of trust or power of attorney, except for implied, constructive and resulting trusts
  • Any contract for the selling or other disposition of real estate property or any interest in such property
  • The conveyance or transfer of any interest in real estate property.

These cases still require traditional signatures to be considered legal and binding.

Electronic Signatures with Dedoco

Now that we've covered the basics of SingPass and some features of Dedoco, we invite you to explore all we offer on our platform, starting with Sign and Verify.

Dedoco is one of Singapore's most trusted application providers, with clientele from governments and public sectors, HR and recruitment, financial services, corporate secretary, and accounting and audit firms.

If you have any more questions about how Dedoco works, our Frequently Asked Questions page may be able to help. Otherwise, you are always free to contact us.

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How Dedoco’s co-founder Daphne Ng is disrupting the document management process

Imagine this: the bank has just approved your company’s loan applications and issued offer letters. Your directors need to sign them but they’re out of the country. This means the start of a laborious process involving the couriering of physical documents and multiple rounds of verifying versions and signatures, right?

Not anymore, says Daphne Ng, co-founder of Dedoco that was launched last March. The company uses technologies such as distributed ledger to provide document management and digital signing solutions. It does away with manual processes such as delivering physical documents and chasing for wet-ink signatures, increasing efficiency and savings.

With Dedoco, a company can transmit digital documents quickly and easily through a preferred cloud storage solution or via Dedoco’s peer-to-peer encrypted file sharing method. Documents can be checked in real time, anywhere. And clients are assured of privacy as neither Dedoco nor unauthorised parties can view or change a document.

Security is further reassured with the company’s Sign with SingPass digital signature service for safer, speedier online transactions. Also, unlike traditional methods of document management, Dedoco continually evolves, adding the latest advancements to its technology stack as they occur.

“We started Dedoco from listening closely to our customers’ pain points. These always involved dealing with wrong document versions and security issues, like not being able to ensure documents and signatures were tamper-proof,” says Ng, who is a former banker.

It offers tiered application programming interface (API) integrations for enterprises and tiered subscription plans designed to accommodate everyone, from budding entrepreneurs to mid-cap companies. The former makes up about 90 per cent of clientele, and its key clients hail from the government, financial services and the real estate sector. ERA Realty, for example, recently adopted its electronic document solution.

“The professional services sector, which includes accounting and corporate secretarial and legal services, is also a major vertical for us, thanks to the sheer volume of paperwork that benefits from digitisation,” adds Ng.

You could say the tech entrepreneur, whom Fintech Magazine named one of the Top 10 Women in Fintech 2019 (APAC), has business in her blood. Her family built and sold one of Singapore’s top travel agencies. Ng recalls being involved as early as in primary school. She would hand out flyers by the escalator.

Ng spent almost a decade with DBS, HSBC and Mizuho, where she specialised in trade finance. She left because of her entrepreneurial instincts and Singapore’s burgeoning fintech scene. “I had the single motivation to immerse myself in the technology space as this is where I see the future of work and the importance of a digital economy,” she says.

Ng currently sits on the boards of the Singapore Fintech Association, SGTech and the Singapore Computer Society. She also serves as a mentor with NTUC Women’s Committee.

“We are going towards a 100 per cent digital vision, and it will likely come faster than before in the next decade. Consider this: we recently conducted a market sizing and the untapped market in South-east Asia alone will be worth approximately US$300 billion (S$397 billion) in the next four years. This presents a huge opportunity for us.”

To meet this demand, Dedoco, which already has offices in Jakarta and the US, will expand its Singapore office and set up another as well as partnerships in Hong Kong this year. Ng is driven to succeed. “I want to take Dedoco global and become an index for secure document transactions globally.”

Original article: https://www.thepeakmagazine.com.sg/lifestyle/dedoco-daphne-ng-document-management-interview/

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