There are several important SmartSign Web® product enhancements that should appeal to any business improvement process. Here I am only going to highlight a few. We’ll have more detailed information to come over the next few days. We’ve added a number of important workflow integration enhancements so that we can be more tightly embedded and work more seamlessly with customer downstream business processes, these include:
New Push Service –You can now configure eOriginal’s SmartSign to automatically push working copies of executed transactions into customer systems such as document management, ERP or CRM providing users with real-time signature updates especially helpful for underwriting, loan underwriting and multi-location sales teams.
New Document Format Options – You can choose to upload non-PDF documents and have it auto-converted to PDF format. Supported document types include Text Documents (i.e. Microsoft Word, Plain Text), Spreadsheet and Data Documents (i.e. Excel, Lotus Notes, Comma-Separated Variables), Presentation Documents such as Power Point and Image Documents (i.e. JPEG, PNG). This makes it easier to process directly from any desktop and add attachments such as a photo taken from a mobile device and uploaded without scanning.
Role based signing configuration – You can now configure document sets for individual roles, defining which documents are displayed or hidden from each participant in the transaction.
Streamlined Consent Process –Organizations can elect to incorporate ESIGN consent in the user’s login process to speed routine signing.
We’ve also made it even easier to configure and brand the signing experience so users can complete typical configurations without programming skills.
iPads and such: More organizations are incorporating mobile devices into their business processes; and contract signoffs and contract modifications are at the top of the list for taking critical advantage of anytime, anywhere capabilities. You can easily add these to a SmartSign-enabled implementation.
Need a good example of how eSigning with eOriginal can cut your customer’s revenue cycles? Direct Capital, a Northeast leasing company, decreased their average deal time from 5 days to an average of two hours and cut the error rate from 30% to less than 5%.
In working with insurance companies that are taking their business processes on line for better origination and servicing, nothing is more important than nailing the application process down in such a way that anyone who wants to buy insurance can get started and complete their application as quickly and seamlessly as possible. The best way to make that happen is a single online session that starts the process in real-time and doesn’t bog down for printing, mailing followed by receiving, manual workflow processing, scanning and callbacks for errors or missing data.
Of course there are other benefits to taking application process and completing it online. An applicant, online the carrier or selling agent has also done their part in going Green by eliminating the need to print, fax, ship, and store paper. Not only helping the environment but saving money by reducing storage and operating costs incurred through paper based systems. However an equally important, and often hidden, issue for the carrier and agents are all of the potential applicants who opted out of a paper driven process because it was too cumbersome, slow, or those that intended to complete the paper form but never got around to it. These potential customers either never generate revenue or will generate revenue for a company whose online processes are more customer friendly.
So how can eOriginal’s SmartSign Web help insurance providers to streamline their processes?
Enable customers to electronically sign the application with an online web application
Manage all workflow, routing, and vaulting procedures of the application process through SmartSign Web’s customization options.
Reduce your organizations dependency on paper, saving you time and money.
Reduce errors and incomplete documents greatly reducing any NIGO applications.
HIPAA and ACORD compliant security and data management
Bind voice signatures to applications for faster processing and payment authorization.
Increase revenue by allowing your customers to quickly review, eSign, and receive a copy of their policy and additional forms.
To learn more about how we may be able to streamline your processes please contact me directly at 410-625-5147 or just us a question in the comments and I’ll be sure to promptly respond.
Wells Fargo Funding has approved eOriginal as an Authorized eSignature and eDelivery Vendor. eOriginal’s SmartSign Web can be used by brokers, real estate companies and correspondent lenders to manage borrower’s electronic disclosure statements. Using eOriginal’s eCore® platform, lenders can have borrowers electronically review, sign and return disclosure documents from the eOriginal hosted signature service or from eCore embedded within their own website. SmartSign Web® can be integrated with existing loan origination systems to automate the eDisclosure process. This ESIGN and UETA compliant delivery capability not only eliminates paper from the process, it speeds the closing cycle while eliminating costly rework and improving regulatory compliance.
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.
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