In recent years, having documents signed electronically and moving to a fully automated process has not just become extremely popular; it has become a necessity for most businesses to efficiently operate. I have had the privilege of speaking with many businesses, large and small, who are ready to create a simple straight-through process that not only cuts overhead cost, but creates an easy, efficient, user friendly experience. eOriginal SmartSign® not only meets these expectations, it exceeds them, time and time again.
One common misconception that I often run into is once documents have been signed electronically in a secure, legally compliant manner, the process is complete. Well guess what, Ladies and Gentlemen, that’s not exactly correct! I am notoriously known for being short, simple and straight to the point, so here are a few questions to consider when making your decision to go paperless;
Are my electronic documents secured at all times?
Who has access to my documents and personal or proprietary information within?
Will my documents hold up in the court of law?
If my documents are challenged legally, how can I produce legally enforceable and admissible documents that have not been compromised?
If my electronically signed digital assets hold any monetary value, will I be able to offer those documents in the secondary market?
If I am working with a company or an individual who require paper originals, does my system meet all requirements to create an Authoritative Copy?
For fifteen years eOriginal and our eCore® platform have helped businesses to answer these questions, not only through the front-end signing process, but through our trusted repository which allows businesses to securely manage their documents throughout their entire lifecycle. eOriginal’s electronic signatures processes have been tried and tested, taking the burden of trying to answer these questions off of your shoulders.
Over the last few weeks a number of colleges and universities have contacted us to talk about how electronic signatures can be a key component in the streamlining of their workflow processes. We’ve spoken with Facilities Management, Student Business Services and Registrar’s Offices that want to convert from paper to electronic documents, optimize processes so they don’t stop for paper, mail, or faxes and how to address compliant document lifecycle management.
While streamlining process is a key to all the efforts, individual departments have specific issues. For example a Registrar’s Office would like to secure student records and transcripts. eOriginal can help Registrars eliminate fraudulent access to student records and transcripts through our rights management capabilities allowing only those employees with privileged access to view or handle records and show an audit trail that documents even attempted access. Facilities Management needs to manage multiple contracts needing multiple signatures throughout the completion of construction projects. eOriginal SmartSign® provides the ability to add and track contracts at different stages within each project lifecycle significantly shortening the time between approval and project completion. The comprehensive audit trail and repository can even help the Advancement Department to secure and archive donations contracts reducing audit exposure.
eOriginal SmartSign® offers the flexibility and security needed to meet the needs of most departments within higher education institutions. From the ability to integrate with systems already in use to reducing the manpower resources and costs associated with traditional paper based processes SmartSign can help your department to streamline its processes and become more efficient.
eOriginal SmartSign® has the most comprehensive digital signing process on the market however there is a great deal more to securing your digitally signed business agreements.
A digital signature can be legally binding but that is only the first component of creating a digital asset whose value must be protected in accordance with business practices and compliance with legal and regulatory statutes appropriate to the industry in which the asset will reside.
The total digital asset consists of the digital signature, the digital document to which it is associated, and how they are bound in combination to certify them as a “unique” electronic original document. Life cycle management processes that dictate their access permission, transfer rights, and a legally admissible audit trail that tracks these processes are all also included in creating a digital asset.
These “back-end” processes have important legal, business continuity and regulatory implications that become critical if the digital asset is to retain its commercial value as an electronic transaction. This is of even greater importance when it will serve as chattel or likely to be transferred on a rights basis or by location.
This is why lightweight offerings, particularly pure-play signing tools, don’t provide the full set of features such as a unique authoritative copy or the back-end functionality for life cycle management and audit trails needed to create a true digital asset. So, the obligations for development, integration, compliance and liability are placed on the client.
This is why eOriginal has placed equal emphasis on perfecting and integrating both the front-end signature process and the back-end life cycle management process. The architectural requirements to seamlessly execute these components, while meeting every regulatory statute that governs these processes, is significant and the basis for many of our patents in this field.
So by its nature, eOriginal’s SmartSign has to be more robust than even comprehensive electronic content management or document management offerings while playing nicely with them by complementing their functionality and compliance to provide a better overall system for digital assets.
eOriginal is the only esignature provider that has been certified by top ratings agencies for securitization. And, while this securitization capability is not necessary for every electronic transaction, the underlying functionality that earned such a rating is very relevant to serious businesses.
Staying in tune with the latest advances in technology, proactively seeking feedback from our clients, and staying ahead of the curve on industry developments are just a few of the ways in which we develop and enhance our application’s feature set. So in light of some great customer input, our research, and with many thanks to our awesome development team, we are pleased to announce the latest release of eCore and SmartSign 6 electronic signature solution.
I wish I could outline each and every new feature but that would make for a pretty long post and I know most of you are busy with work and getting everything ready this holiday season, so I’ll pick out a few of my favorites to highlight. Plus if you want to learn more you can always reach out and fill out one of our contacts forms or email me personally here. So lets begin:
Extended support for multimedia signatures beyond simple signature pad formats, you may now capture and bind biometric (retina scan, fingerprint) or voice signatures to your PDF documents.
Data merge for document preparation. You can now add text data to PDF forms (think document prep). For example, after you collect data through an HTML form or other internal system, you can utilize the SmartSign LinkTM web services to merge the data into your forms.
Send notifications to the sender/creator of a transaction. SmartSign already had distribution list notifications, but now all senders can be notified when a signer completes the signature and when the signature process is completed.
Enabled signers to receive “final executed copy” distribution email when all signatures have been completed.
Query for signature status through the SmartSign LinkTM web services. Instantly look up where your documents are in the esigning process.
Define routing order of email invitations to multiple signers/reviewers. This feature allows you to define the order in which users are notified to come into the signing room to complete the signature process.
Improved usability of signature Template Designer, to simplify drag and drop addition of form fields into PDF documents.
Apply appearance properties to text fields in the Template Designer (i.e. font, color, size)
Data Collection – enables you to collect data from users within SmartSign and automatically apply the data to documents in the transaction. This allows you to collect data once from the user(s) and have it applied across the document set within the transaction.
Data Validation – SmartSign Web will ensure accurate data is inserted into the text fields within the document during data collection or signature capture.
Now that you see how busy we’ve been working to build the most complete end to end signing solution you can see why we are so excited. And this is only Part 1 of our feature update series. Look for part 2 early next week where we’ll take a look at a few highlighted updates we made to eCore.
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.
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 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.
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.
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.
We realize that many businesses are just exploring the idea of adding electronic signatures into their business processes. We also realize that many businesses have already considered utilizing electronic signatures as an option and still have a few unanswered questions. To address these questions, we created this guide “Electronic Signatures: Why Your Company Should Move to a Paperless Process,” to provide a deeper look into electronic signatures and how eOriginal can help your company to grow. It will provide you with a detailed walk-through of the advantages and benefits your business will see by implementing an electronic paperless process. As you read through please let us know if you have any questions leave a comment or contact us; we’ll be more than happy to help out.
In today’s world, most of us do everything online, from ordering a new pair of shoes to paying off credit card bills. Technology and products like eOriginal’s SmartSign® Web esignature solution provide the ability to quickly and seamlessly migrate from a cumbersome paper process to a streamlined online process helping to make these conveniences possible. However, with the instant gratification and convenience of online processing comes a fear of identity theft. Therefore, it is increasingly important to know that the person you are contracting with or selling goods and services to is exactly who they say they are. Now, with the help of cutting edge technology, eOriginal can assist you in verifying, in real-time, that the person signing your deal is in fact who they claim to be.
eOriginal SmartSign® Web dramatically reduces potential losses and fraud attempts. With eOriginal’s OFAC and Patriot Act Complaint third party verification feature, you always feel secure. In order to comply with the Patriot Act and other government regulations, many companies within and outside the financial services industry are now bound by new requirements to verify against Patriot Act Complaint databases. eOriginal can now alleviate that burden by verifying potential signer information against different data sources that include the Social Security Administration, Regional Bell Operating Companies, credit header data, government watch lists, and many other proprietary sources.
Not only does SmartSign offer the ability to provide such OFAC user screenings it also challenges a potential signer with “out-of-wallet” security questions. Such protective questions are critical for customers in various high value markets. If requested, SmartSign will authenticate the identity of the signer by asking personal and/or historic questions. The correct signer can quickly and easily answer these questions without delay of the verification process. SmartSign therefore provides an additional barrier to help protect your signers from identity theft.
Third party identity verification is just one of the numerous security features that eOriginal’s SmartSign Web offers to help cut costs, streamline paperless processes, and help companies “go-green.”
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