As the holiday season is quickly approaching, the American business community is waiting to see how much consumer spending will happen to spur the economy. While the amount of consumer spending is in question, one outcome is generally considered gospel-consumers are shopping around for the best deals more than ever and their primary tool is the web, shopping online comparing prices between stores, delivery options and looking for the right gift, deal, or idea. When they do find what they want they move directly to payment and arranging shipping.
And, because business people are consumers too, they get frustrated when they can’t have the same experience in their business life. While many of their business processes have been highly automated, the final steps of executing a contract or gaining formal approval degenerates into time consuming, expensive starts and stops as they have to revert to mailing, faxing or express shipping paper to get signoffs.
So, while I was thinking what to get all my family and friends this holiday, looking at what they do, need, or what would just make things a little easier, all this personal shopping led me to ask myself the question, “What are businesses doing this holiday season to give themselves and their customers the same convenience they get in their personal life?
Adding electronic signatures into a company’s business process will be “the gift that keeps on giving”. As over-used as that statement may be, electronic signatures will keep giving back to your company throughout the year by improving efficiencies, saving money, and allowing your team to close more deals faster. Your sales team will be able to get documents delivered, signed, and returned in hours or minutes, instead of days or weeks.
eOriginal’s SmartSign solutions will greatly reduce or eliminate shipping and storage costs since the entire process is completed online and documents automatically stored in our secure eVault. Plus, as an added bonus, all documents can be easily referenced for a quick find. I’m sure those responsible will love not having to flip through file after file, a gift within itself for anyone whoever has ever had to flip through hundreds of documents.
Not only will electronic signatures be a great gift for your company to implement, but an equally great present for your customers. Because your customers will be able to electronically sign your documents almost immediately, they’ll be able to quickly take advantage or your products and services, improving on customer service and satisfaction.
So all you Project Managers, Business Analysts, CEOs, CIOs, IT managers, and every other person looking to give your business that extra edge, you may want to ask how eOriginal® can bring some holiday cheer to your business by talking with us about our SmartSign products and services.
As more mortgage and real estate brokerages, lenders, title and real estate agents migrate to electronic mortgages, it is extremely valuable for them to understand and be articulate about the legal compliance requirements and the protections afforded the participants in an electronic mortgage process. eOriginal, already fully compliant, has addressed the issues within the mortgage industry including recent amendments to the Truth in Lending Act (TILA) known as the Mortgage Disclosure Improvement Act of 2008 (MDIA) and the Mortgage Industry Standards Maintenance Organization (MISMO) for the creation, execution, transfer and storage of electronic mortgages.
To provide our readers and those in the mortgage industry with more resources and a better understanding of the legal framework regarding eMortgages, we wanted to pass along this excellent presentation by Margo Tank Esq., a Partner at BuckleySandler, LLP . Ms Tank is an expert in compliance within the mortgage industry and the regulations governing electronic financial services transactions. The presentation outlines the legal requirements for electronic signatures and records specifically within the mortgage industry, including establishing control of Transferable Records for securitization and sale on the secondary market.
eOriginal would like to thank Margo Tank for allowing the use of her presentation. Note: An eMortgage is an electronic mortgage where the loan documentation is created, executed, transferred and stored electronically.
Electronic Signatures offer an innovative approach that dramatically streamlines FDA approval process for authorized dealers and end users of X-Laser’s special effects laser products
BALTIMORE, MD (Vocus/PRWEB), November 17, 2009 – eOriginal Inc, a leader in electronic signature, eVaulting and electronic transaction solutions, announces a partnership with X-Laser, the market leader for design, manufacture and distribution of special effects lasers across North America. The joint solution will automate the process for obtaining a “Laser Light Show Variance” mandated by the Center for Devices and Radiological health (CDRH) which is an organizational component of the Food and Drug Administration (FDA). A Laser Light Show Variance is an extensive application that is required to be submitted prior to purchase or use of a high powered (Class IIIB or IV) laser light show projector.
The current paper submission process can take over two years to complete and often results in unnecessary back and forth between the government agencies and event producers, with the manufacturer or dealer playing the role of middle man as technical issues are debated and esoteric compliance issues are addressed. “We wanted to dramatically streamline and improve the process,” states Dan Goldsmith, President of X-Laser. “Using the eOriginal SmartSign® electronic signature and vaulting functionality, we can cut the process time by 83% and meet the FDA Federal statutory requirements for secure and compliant record storage and fully traceable audit trail. This also dramatically reduces the burden on consumers and dealers of our products by removing the liabilities inherent in managing large amounts of critical paperwork.”
The commercial use of lasers has been primarily limited to larger venues and production companies that are willing to undertake the responsibility for accurately completing the exacting paper-based process, which often involves hiring expensive specialized consulting firms, and the long waits which have become so common. X-laser is confident that the application of the streamlined electronic signature process through automated submission to the FDA will revolutionize the arduous laser permit process to reach a much broader market of smaller venues, the hospitality industry and individual music event producers.
“X-Laser’s innovative application of SmartSign is a great example of electronic signature-enabled straight-through processing that completes in minutes transactions which now take months and substantially reduces the high drop-off rate of prospective customers using a cumbersome paper-based system” adds Mark Schneider, eOriginal Vice President of Sales.
About X-Laser
X-Laser is a Laurel, MD based firm that designs, manufactures and distributes special effects lasers for the entertainment industry. With thousands of projectors currently in use on every continent on Earth, X-Laser continues to set the standard for innovation and quality manufacturing of laser light show products that exceed USA performance standard requirements for quality control and safety. www.xlaser.com
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 electronic signatures on millions of documents without a single system error or legal challenge.
To learn how eOriginal can streamline your business processes, visit www.eoriginal.com or call (410) 895-7699. Subscribe to the eOriginal blog at blog.eoriginal.com. Follow eOriginal on Twitter at twitter.com/eOriginal.
The year 2010 is fast-approaching and so is tax season. While we sift through our W2s and receipts, imagine being responsible for reviewing 200 million tax forms. As if that thought isn’t scary enough, imagine that more than half are paper returns.
Although adoption of electronic filings has increased significantly over the last few years, there are many people that do not feel comfortable filing their returns electronically. To overcome this, the IRS is hard at work on expanding its electronic signature initiative. While the chief objective is to gain acceptance by taxpayers, the IRS wants to create a service-wide framework for electronic signatures and electronic tax documents.
A presentation recently posted on the Electronic Signature and Records Management Association’s (ESRA) blog “Electronic Signatures and the IRS,” outlines the IRS directive. Kevin Hatton, IRS Chief of Policy and Standards, prepared the presentation and describes how the IRS plans to support the electronic filing goals of the IRS Restructuring and Reform Act of 1998 (RRA 98) and the Government Paperwork Elimination Act (GPEA). The IRS’ main objectives include:
“Help taxpayers understand that electronic signatures have the same acceptance and legality as paper signatures.”
“Create a single framework to provide consistency and ease of use.”
“Promote electronic signature methods by emphasizing their availability and benefits.”
ESRA supports the IRS in establishing greater utilization of electronic signatures for various types of tax documentation The association is a centralized educational resource for its members and the public with respect to the legal, regulatory and operational issues in relation to the use of electronic signatures and records. eOriginal is a founding member of ESRA.
Nissan Motor Acceptance Corporation (NMAC), including its Infiniti Financial Services (IFS) division, is the automotive... Read Our Featured Success Stories ›
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