What makes a successful business in today’s world? I have spent countless nights asking myself this very question.  From front-line salespeople to high-level executives, businesses around the world are actively trying to embrace new technology in hopes that they can streamline their processes and become more efficient using fewer resources.

Using electronic signatures and eOriginal’s Smartsign solutions; businesses are able to simplify, speed up and streamline their entire business process enabling straight-through processing that saves time and money. Simplicity is the key to quickly implementing electronic signing into your current process enabling your organization to see the benefits and savings right away. This is how it works;

Step 1:  You send (contracts, applications, agreements, internal forms, budget approvals)

Step 2:  Your Customers eSign (electronically signing your documents is a simple, fast and EASY process for your client/signer)

Step 3: Receive a signed, legally enforceable document within minutes (that’s right-it’s DONE!)

eOriginal Smartsign® Web simplifies electronic signatures, providing a fast and easy way to decrease closing time and increase revenue. Many businesses are already taking advantage of this unique, competitive advantage by completing processes in minutes that would normally take days or even weeks. If that’s not convincing enough for you, by the time you have finished reading this article, eOriginal could have already assisted you in having dozens of documents signed, sealed and delivered. For more information please contact us.

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BALTIMORE (October 21, 2009) eOriginal Inc., a leader in electronic signature, evaulting and electronic transaction solutions, is proud to announce its sponsorship of the Equipment Leasing & Finance Foundation’s recently released 2009 State of the Equipment Finance Industry Report, a comprehensive study identifying current industry trends and short term outlook for the U.S. Equipment Finance industry.

The study was developed using key insights gathered from conversations with equipment finance executives responding to questions on the current economic environment, credit conditions, regulatory issues, industry trends, and asset management while also combining information collected from various databases

Key Findings Included:

• Capital is limited; only firms with the highest credit ratings are eligible for the Federal Reserve’s Term Asset Backed Securities Loan Facility (TALF)

• Due to limited credit, banks are in the strongest position, while independent firms run the highest risk of being driven out of the industry leading to increased consolidation within the industry

• 2009 Survey of Industry Activity respondents reported the strongest activity in large-ticket leasing.

• Charge-offs and delinquencies are up significantly from 2007 levels. While credit quality has continued to deteriorate in 2008 and through the first half of 2009.

However, positive signs are showing for the second half of 2009. Stabilization in the economy is pointing towards business investments stabilizing within the equipment leasing industry. Respondents reported an optimistic outlook about returning to growth in the first half of 2010 and are confident that the fundamental offering of secured lending and equipment leasing will continue to be key vehicles for businesses to acquire new equipment.

About The Equipment Leasing & Finance Foundation

The Equipment Leasing & Finance Foundation, established in 1989 by the Equipment Leasing Association, is dedicated to providing future-oriented, in-depth, independent research about and for the equipment finance industry. Information involving the markets, the future of the industry and the methods of successful organizations are researched to provide studies that include invaluable information for developing strategic direction within your organization.

About eOriginal

eOriginal provides advanced electronic signature, vaulting and electronic transaction solutions which are tamper-sealed, auditable and legally enforceable. eOriginal SmartSign^® enables compliance with the eSignature requirements of the ESIGN Act, UETA and the UCC. eOriginal has provided secure, verifiable execution, delivery and management of commercial loans, leases and other financial industry documentation for over a decade. eOriginal customers, including top-tier financial institutions, have processed millions of electronic signatures on documents without a single system error or legal challenge.

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Recently, my friend Brian was looking to change insurance carriers to save money and receive better coverage. Surely in today’s electronic age, the process would be fast and easy. But was it? His response was, “It was not as easy as it should have been, I almost gave up and went with someone else.”

After researching and checking out a few carriers Brian found an insurance provider who met his coverage needs and fit his budget. He assumed the process of acquiring the policy would be easy, but instead found it cumbersome, time-consuming and frustrating. When he received an electronic copy of his new policy, he had to acknowledge that he understood the terms, conditions and price of the policy via voice recording and then had to give his consent to withdraw monthly payments. Did Brian’s coverage take hold at that point? No. The insurance company then required his signature on four additional documents that had to be sent through the mail. So, in order to start the coverage, he had to wait for the documents to be delivered, sign them and then take them to the post office in order to meet the insurance company’s time deadline. Super frustrating.

If Brian’s insurance carrier had used eOriginal’s secure electronic signature solution with straight-through processing, he would have executed an electronic signature immediately after reviewing the documents online, he would have had coverage more quickly and the insurance company would have had a happier paying customer sooner.

The eOriginal eCore® electronic signature solution enables straight-through processing (STP), which means serious cost-savings, increased customer service and improved efficiencies for insurance companies. Production costs are significantly reduced usually eliminating the need to prepare, print and mail packages. The amount of not-in-good order (NIGO) applications is significantly reduced enabling faster closings and collection of premiums.

As a provider of electronic signature solutions that enables STP, I had to agree that Brian’s experience seemed unnecessarily frustrating. People lose patience with companies that don’t adopt technology solutions that they routinely see used for even more complex transactions. Brian’s new carrier may have gained a customer but it’s already unnecessarily earned a black mark for its customer service

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The eOriginal SmartSign Web solution is a SaaS offering that can be accessed with zero integration, full integration, and anywhere in-between.  The level of IT involvement is a function of the business processes that will utilize the signature service.  Regardless of the deployment method selected, the SmartSign signature service rides on the most industrial strength, secure platform in the industry and provides the most robust path for growth and deployment method transition.

Standard On-boarding:

Document Preparer Website

• Upload Documents
• Configure Signing Requirements
• Send Signing Invitations
• Monitor Signing Progress

Hosted Signing Room

• Accessed via Email Invitation
• Manages Signer Authentication
• Brandable with Company Logo and Colors

SmartSign Web standard on-boarding provides a fully-hosted signature service; there are no IT requirements and you may begin electronic signing right away.  With standard on-boarding, you will  prepare your documents utilizing a hosted website to upload documents to the signature service’s secure repository, configure the signature requirements, and send email invitations inviting the signers to review and sign their documents.  Documents are monitored throughout the signature experience using the Signature Tracker portion of the website.

Your signers receive an email with a link to the signing room.  The signing room is a hosted website, branded with your company logo and colors.  Signers are authenticated against the signature requirements configured by you.  Once authenticated, the signers are presented with each document for review and/or signature.  Upon completing their signature requirements, signers may retain a copy of each signed document before exiting the signing room.

Standard on-boarding is the ideal option for companies with immediate electronic signing needs, limited IT access, and lower transaction volumes.  Companies with larger transaction volumes or who wish to create an “all in my website” offering, may wish to explore our other SmartSign Web options.

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