Tracking a package and making sure it arrives on time can make all the difference in customer service. Just the other day, I ordered a few parts to get my motorcycle back in riding shape after I put it away for the winter. Nothing major, just an oil filter and some custom parts to make it a little more mine. After I submitted my order, I was emailed with date and time of arrival. A few days later, my package arrived followed by a simple yet effective customer service email making sure everything was OK.

That was great, but after I thought about it, they really had no idea when I changed my oil or if I needed any assistance with the installation of my air filter. And then I thought about it from a sales perspective; once a sales contract is delivered, do you, as a salesman, really know where the contract is?

Has it been reviewed?

Who has signed it?

Did they even take a look at it yet?

There are about a thousand possible scenarios that probably go running through anyone’s head. But what if you could track some of those more important actions? What if you could see who has reviewed the document or even signed the document in real time? What advantages do you think that would bring your sales team?  Imagine if they could call the next person in line or call after someone has reviewed the document to make sure they are still comfortable with all the terms and conditions.

With SmartSign that is a very real feature. Our system lets you set up automatic alerts based on important actions taken against your document. For example, if your Director of sales wants to know when a new client is brought on, you can designate an alert. Your account management team could also be alerted, helping you to get the ball rolling and improve customer service.

Tracking the arrival of a document is important, but think of all the possibilities and improvements your sales team and organization as a whole can make by knowing that much more.

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The path of electronic signatures and security alarm companies came to a head this past year. Both industries seemed to discover each other’s unique position, services and needs at the same time which led to a very interesting period of discovery. A few security alarm companies who were “early adopters” really set the tone and were able to see some great benefits and improvements from implementing electronic signatures.

Raising the level of comfort with new processes is always a bit of a challenge. It wasn’t smooth all the time, but after diligently working with funding sources, business and technical teams, we were able to help our clients put some really cool applications in place. So in turn I’d like to underscore two recent examples that led to some really awesome results.

Example 1: A leading company’s electronic adoption rate was held up due to major funding source only accepting 10% of documents to be signed electronically.

eO Assistance: Stepping in to assist our client with this particular funding source we helped to provide all information and access to vet our processes and system, they became extremely comfortable with the level of control SmarSign provides.

Result: They are now having over 50% of their contracts signed electronically and have plans to move toward a complete paperless process. This is not only helping them to increase revenues to become more profitable, but it is also saving them money on shipping, re-contracting, and storage costs.

Example 2: Paper contracts everywhere. Keeping track of all your paper documents is resource intensive. Referencing, finding, and filing all those docs cost employees valuable time.

eO Assistance: Paper-In is a process that allows you to convert signed paper documents to Electronic Originals that still keep their value. Also our Trusted Repository’s transaction management solutions allow you to search by date range, status, or a variety of other unique identifiers.

With all signs pointing to more companies implementing solutions in the cloud in 2012 to support company goals, it’s a sure fire bet that electronic signatures are going to play a major role.

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With the ESRA annual conference next week, I have been thinking a lot about how eSignatures and electronic records have changed business. Or even better yet, how the efficiency, business savings, and customer service benefits of using e-signatures has added pressure to those organizations that still use, “the same old paper processes” to move to adopt electronic processes.

Electronic signatures have grown within companies that are already leveraging these technologies in other areas of business (sales → HR→ Legal → and beyond), there is really no arguing that point. But ESRA and its members are also leading the expansion efforts to reach new businesses, departments of government, and even across boarders in international efforts.

In just a few short days at the ESRA Fall Conference leading industry and business experts are going to be tackling these issue and more with session tracks that include.

• International Adoption and Cross Jurisdiction Issues in eSignatures and eRecords

• Enabling eSignatures and eRecords for eFiling and eTitling with Motor Vechicle Registration Offices.

• IRS eSignatures Programs and Initiatives

• …and more!

This will be an outstanding event, demonstrating the growing utilization of eSignature and electronic record implementations across a wide variety of industries in a global arena. For more details, please see the ESRA web site: http://www.esignrecords.org

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For all of you lucky enough to attend the Equipment Leasing and Finance Association’s 50^th Annual Conference this year please don’t miss out on the breakout session “Don’t Be Left Behind! Cost Effective Technologies that are Impacting Business”, on Oct. 25 at 11:00AM. eOriginal’s CTO Bryan Caporlette along with LeaseTeam and a few other great companies are going to be presenting how leveraging technology can improve business operations throughout your entire company!

The objective of this session is to educate attendees on technologies that are having a positive impact on businesses: electronic signatures, mobile applications and cloud computing are a few of the topics that will be addressed.  We will also profile real-world applications, the processes behind them, and how equipment finance companies are benefiting from the technology.

And please feel free to reach out to Bryan he’d be happy to answer any questions while he’s there.

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I was recently talking with one of our business development executives and he was telling me about a potential client who wanted us to break down the document management and storage costs within our Trusted Repository after a document was eSigned with SmartSign. Well, we went over the general costs and variables including transaction volumes/number documents, their relative size, and their value.

The above three “variables” are not the only things to take into consideration, but for this particular opportunity, it is what is most important to them.

• The transaction volume accounts for how many transactions a company will be completing over a given time period. Will the company be signing 100 docs per day/month/year, you get the point…
• Relative size really means how big your documents are or packages 35KB, a few mgs, or larger.
• The value of the documents translates into, will the documents you are having eSigned have any negotiable/monetary value.

This last point is extremely important – improper storage and management can and will compromise their value.

OK, back to our business development guy and his opportunity. This particular opportunity had some fairly complex and large documents, somewhere around 250kbs, with a high transaction volume, and the docs would be leveraged as collateral. After taking into account all variables, we figured the approximate costs would roughly equal $0.0038 per transaction per month (under ½ cent).

If you are interested in learning more, I would first like you to take a look at what it costs you to physically store and manage your documents. You’ll need to take into account storage space, costs per file cabinet, even administrative costs, among other things. We went over what it costs to have documents signed in a previous post and it may help.

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Recently SDM Magazine published a great article “ESIGN and Go (& Grow Your Business)” on what electronic signatures can do for your security alarm business. The article features some great insight from industry leaders including NorthStar Alarm Services, a client of eOriginal’s.

Electronic signatures can really make an impact on productivity. In the article Nick Nelson, an inside sales agent and customer retention specialist at NorthStar, notes “I personally can do five to ten of these every day rather than handwriting out and mailing each one”.  He says “It cuts my time at least in half and allows me to work with other customers or take phone calls. When it comes back, it notifies me it’s been done. They’re then forwarded on to billing, tech support, service technicians, etc.”

Although the front-end productivity benefits are apparent and relevant, the back-end benefits of eOriginal’s system frequently prove to be just as important and, in many cases, even more so.  eOriginal’s SmartSign not only protects the value of your eSigned agreements, it improves your control of contracts, allows your company to utilize these electronic assets as collateral in an automated, secure environment, increasing your lenders’ comfortability.  SmartSign also improves back-office processes by removing the need to manually scan, file and search for paper documents.

To view the entire article, please follow the link above.  SDM Magazine is filled with great resources and will benefit any security alarm professional.

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As more businesses leverage online tools and cloud computing capabilities as a means to improve operational efficiencies and reduce or eliminate dependency on paper, there is one overlooked piece of the puzzle…Electronic Signatures. More often than not contracts or agreements are created in a digital format, however once terms or conditions are agreed upon, many businesses rely on resource intensive paper-based processes. The process of printing, shipping, faxing and filing, is resource intensive, expensive and slow.

If most of your operations are already taken online, why not close the loop with electronic signatures. By utilizing an end-to-end electronic signature solution like eOriginal’s SmartSign Web, businesses are able to compliment existing applications to create a completely streamlined process from origination → to signing → to storing and managing documents throughout their entire lifecycle. Electronic signatures really are designed to simplify business operations. Documents are sent out for signature via email, the ID of signers can be validated through multiple layers of verification (if necessary), and documents can be signed through any number of ways including text signatures, signature pads, and using mobile devices (Smart phones, iPads, tablets, etc) for access anytime anywhere.

A few key benefits include:

• Reduce sales-cycles closing more deals faster having documents signed in minutes, not days or weeks.
• Track user activity throughout the entire document management process with automated alerts. Alerts can notify key members of your team for newly closed deals, contract extensions, and who has and hasn’t signed.
• Eliminate errors and missing or incomplete documents. The signing process can not be completed without all proper information being provided.
• Reduce costs associated with printing, faxing, and filing paper documents.
• Go Green — eliminating paper based systems minimizes your organizations impact on the environment.

Electronic signatures may not fit the bill for every organization or for every process and each provider offers a few different options and solutions, so it is important to take a look at what your business is doing. But, if you are looking to close the gap and eliminate the “paper-chase”, electronic signatures are probably your best bet to grow and go paperless.

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A few weeks ago I wrote a post, “What Does it Really Cost to have 10 Documents Signed”, where I explored the average costs associated with physically shipping, filing, and managing documents. I reviewed the costs of everything from printing to filing, but looking back, I realized I really only took a good look at the initial front end costs and benefits. There’s a whole other side I’d like to explore on the long terms benefits to moving to an electronic process and leveraging our Trusted Repository.

When you sit down and think about it, what can happen to your documents a few months or even a few years down the road? For our purposes for this post, we’ll ignore disasters such as floods, fire, or any other natural disasters. Even though they are real concerns for many businesses both large and small, let’s just focus on pure business related matters like legal challenges, audits, and administrative costs and effects.

So what happens if one or more of your contracts/agreements are challenged in court or if you are being audited? The Trusted Repository gives you the utmost control to track access and protect your documents throughout their entire lifecycle. The Trusted Repository uses digital “tamper seals” to protect the documents and their associated audit trails. This allows you to track every action taken against your document from when it was signed to who had access providing a better evidentiary package than paper-based processes. Since the signing process takes place in a closed-loop system, we can establish with all reasonable certainty that the signature and everything associated with your documents haven’t been compromised, something that is a lot harder to prove with paper.

When being audited, think of the number of documents you’ll have to pull from storage, physically transfer, and keep secure during the entire process. The task can be very daunting. However, through an electronic process, the steps needed to be taken can be made a lot simpler and easier. The Trusted Repository allows you to retrieve documents in real-time. All you’ll need to do is simply identify the documents you need and through a few clicks of your mouse and maybe a few keys punched, you’ll be finished in a fraction of the time.

The administrative costs of both instances can really pile up depending on the number of documents, storage facilities, and employee salaries all factored in. Just think of the time it takes to pull one file, let alone ten plus. In the long run, you may never face a legal dispute or get audited, but the right system not only saves and makes you more money in the short term, but it also protects you in the long run. Offering solutions that make us a complete package (short and long term) for our clients are why we are able to build a consistent and impressive ROI for our clients.

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Recently, a friend was looking to purchase a new vehicle. So like many other purchases in today’s world, his search began online. With instant access to manufactures websites, vehicle reviews, and dealership websites with local inventory his search was narrowed down in no time at all. After comparing a few different models and local dealers he found the vehicle he was looking for to fit his need and budget.

Now all he needed to do was get approved for a car loan. With all his other research and comparisons completed online, he wanted the same convenience to apply for a loan. Again he jumped online to compare a few websites, lending options, and interest rates. What he found was that his current bank provided the best option, and since his bank integrated eOriginal’s SmartSign Web directly into their consumer lending portal, he was able apply for and electronically sign loan agreements online in a familiar and secure environment.

SmartSign Web allowed my friend and the bank to:

• Instantly sign loan agreements;
• Reduce costs and save time with no need to fax, ship, or physically travel to complete the process;
• Review, underwrite, and fund the loan instantly to get him on the road faster;
• Create and participate in a completely streamlined electronic process without excess paperwork, travel, or complications.

The best part was he was able to walk into the dealership the same day with an approved loan and drive out with the car he wanted. The process was quick and easy for both parties. With more and more consumers researching and making purchase decisions online, it only makes sense for businesses to implement online tools and electronic processes to meet the needs of their consumers.

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eOriginal is privileged to announce that SmartSign, our leading electronic signature and transaction management solution, is featured in “The Ultimate Toolkit for the Evolutionary Entrepreneur“.

The eBook is a comprehensive guide outlining tools and technologies that can help businesses to grow. This eBook highlights the most cutting edge online solutions to help you streamline your business, save time and money.

You can get in now by purchasing a copy. Or you can use the link above to learn more.

We are excited to be included with a number of other great companies in this valuable resource showcasing how online solutions will enable your business to be more flexible and successful.

What People Are Saying:

“This is the YellowPages for the productive entrepreneur of the 21st century. Even the best tools won’t help you if you don’t know they exist. Natalie ensures you ‘get in the know’ without wasting time and money.  If you want the location independence necessary to be your own suitcase entrepreneur, you must know about the tools in Natalie’s Ultimate Toolkit.”

Kent Healy, Author, entrepreneur, and blogger. www.TheUncommonLife.com, www.MaximsForMavericks.com

About the Author:

This toolkit has been designed by Natalie Sisson, a Suitcase Entrepreneur and adventurer, who runs her entire business online using these tools and technology.

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