In the upcoming June Aberdeen Research report that surveyed 441 firms, the research looked at the effect of using electronic signatures to shorten sales cycles. Higher performing companies that used electronic signatures in their sales and contracting process saw improvements implementing tools like those provided by eOriginal.
The year-over-year sales performance survey demonstrated that a significant percentage of respondents using electronic signatures to automate their processes had improved their customer renewal rate, reduced errors in the proposal process, and have shortened their sales cycles. The study shows what many of eOriginal’s clients have been experiencing since implementing our electronic signature software. As noted in the report, “sales teams adopting electronic signature technologies recognize this relatively straight-forward premise and as are yielding better business results as a consequence of their investment”.
For more information and reports provided by the Aberdeen Group, please visit their website www.aberdeen.com or call 617.854.5200
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.
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 deterioratein 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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