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.”
As summer is upon us, we look forward to baseball games and barbeques and working through our product enhancement projects in anxious anticipation of the days ahead…and so the story of the 2009 eOriginal product roadmap continues….
This year, we are looking to improve a few of our internal processes to better enable quality support and quick product delivery. Our efforts will offer our current and future customers shorter implementation cycles and greater product capability and flexibility.
Early releases this year have already:
Introduced an out-of-the-box signing experience, eOriginal SmartSign® Web, making custom-branded eSignature solutions available without IT resource involvement.
Enabled signed packages to be prepared, reviewed, signed, and managed through a zero-footprint, zero-implementation web service. Simply upload your documents and configure your signing scenario and you are on your way to having completely and accurately signed documents as quickly as your signers can access them.
Refreshed the Command Center™ user experience, providing improved ease-of-use and greater flexibility in transaction and document management.
Improved searching capabilities, in-line document access, and the ability to act upon multiple transactions or documents with a single action. This allows document managers to more readily identify and maintain the contents of their secure repository.
Among our targeted efforts for the remainder of the year are:
Continuing our refresh of the Command CenterTM user experience, providing improved ease-of-use and greater flexibility in transaction and document management.
Enhancing our out-of-the-box signing experience, simplifying the package creation and offering new package management capabilities.
Improving our PDF-processing abilities, offering enhanced electronic signature capabilities and providing support for new PDF features and specifications.
Introducing a complete set of web services, enabling rapid integration of full eCore feature-set capabilities and simplifying integrated application deployments.
Streamlining our internal processing, improving performance and facilitating our ability to rapidly deliver feature enhancements.
Leveraging new infrastructure technologies, allowing our customers to take advantage of capabilities offered by the newer infrastructure versions.
‘Simplify, simplify, simplify!’ is our motto for 2009. Everyone is looking to do more with less. Our goal is to deliver our eCore®, eCore® On Demand, and eOriginal SmartSign® Web products as tools that will enable you to do so. Whether you are new to electronic signing or a seasoned veteran, eOriginal® aims to make, and keep, your path to electronic signing success simple.
Automation of Dealer Finance Transactions with electronic signatures for 12,000 Dealers will Speed Transactions for Customers and Dramatically Reduce Costs
eOriginal, Inc., a leader in electronic signatures, eVaulting and electronic transactions, announced today that a leading US Automotive Finance Company selected eOriginal SmartSign® Web to enable the creation and completion of electronic dealer finance transactions. The adoption of electronic signatures among their 12,000 plus dealers will significantly reduce the funding cycle, eliminate incomplete loan documentation and decrease associated transaction processing costs.
The dealer finance company will initially deploy electronic signatures for the documentation executed among the 12,000 dealers in their network. The solution will allow for consistent implementation, support and the adoption of standardized processes across all dealers.
The conversion to electronic signatures will transition the dealer finance company from paper based processes and the substantial costs related to paper reproduction, storage and manual processing to an end – to-end efficient electronic process. This transition will improve customer service, lower costs and improve the “re-write” rate. Dealers are constantly re-writing deals because of lost documents and omitted signatures. With eOriginal’s SmartSign® Web electronic signature and vaulting solution, documents are never lost and signatures can never be missed or omitted.
eOriginal’s SmartSign® Web and eCore® Vaulting technology was selected after a thorough review of marketplace options. The ability to centralize and electronically manage documentation was a significant driver in the decision to adopt electronic signatures. A key competitive advantage for the dealer finance company choosing eOriginal’s solution over other vendors was eOriginal’s secure and legally compliant electronic vault. eOriginal ensures that each signed document is authenticated and protected using digital signatures to create tamper-evident seals around all documents placed under the control of the electronic vault. Important documents may be maintained in an authenticated electronic format for their full legal life.
As the gap between web applications and traditional desktop applications continues to narrow, advanced web-based user interface components based on their desktop counterparts have become more prevalent. One such component is the ability to drag-and-drop files, images, and various other objects into a desired location. Drag-and-drop functionality has long been integrated into traditional graphical desktop environments and applications and is now considered to be a standard expectation in web-based applications.
The new 5.4 release of eOriginal SmartSign® Web ushers in a new era of usability in web-based electronic signature tools. SmartSign Web now enables a document originator to quickly and easily create, resize, and position signature locations via an intuitive browser-based drag-and-drop interface, leveraging the robust jQuery UI library. Defining a signature location has never been easier than the simple 1-2-3 process of entering signature information, clicking the add button, and moving the signature block to the desired location on the page of the document. As an added feature, SmartSign Web also enables an originator to store previously mapped signature locations and signature types for quick and easy reuse in commonly used documents.
Drag-and-drop signature mapping is just one of the great new features in the 5.4 release of the eCore product suite geared to help you cut costs, streamline your paperless process, and help your company “go-green” with eOriginal.
As one of the few vendors in the electronic signature solutions space to provide customers with the option to utilize our technology in a SAS-70 hosted environment, or to deploy and operate the software within your own data center, I’m often asked what is the “right” solution. Of course, the answer to that question spawns new questions back to the customer. What is your timeline for deployment? Do you have a network operations center in place to operate and manage the software? Do you have low, moderate or high transaction volumes? And many others.
A good rule of thumb that I go by is that if you…
Need to deploy a signature solution quickly
Want to minimize upfront expenses
Have low-to-moderate monthly transaction volumes
Are challenged by IT’s workload to deploy new applications
Specialize in Microsoft .Net or other non-Java development platforms
Then the eCore On Demand (EOD) solution is probably right for you.
However, if you…
Have a good business case supporting the implementation of electronic signatures
Have a mature data center in place to deploy and manage our Java-based software
Have or anticipate high monthly transaction volumes
Have security or business requirements that require in-house control over the electronically signed documents
Then deploying eCore in your own data center is probably right for you.
When it comes down to it, there is no one size fits all answer for everyone. We work closely with each customer to determine the right deployment to meet your business and technical requirements.
Regardless of your deployment scenario, eOriginal’s technology will ensure that your electronic signature solution produces legally admissible and enforceable electronic documents.
If you have any comments, suggestions or thoughts on how to select the right deployment solution, write back here.
We are excited to announce the release of our latest version of the eCore product suite, which includes a completely redesigned user interface (Command Center) to interact with your signed Electronic Original documents. Also included in this release is a new version of our SmartSign electronic signature software.
Some of the highlights of the release include:
Sophisticated transaction and document searching. Command Center now allows users to locate information faster through new search screens. These screens allow users to locate their transactions or documents by name, creation date, status, or the customers own unique identifier. Users are also provided with customized search parameters that can be mapped to their internal systems. Users also have access to a directed search function to upload lists for rapidly finding items within the secure repository.
Batch system processing. Command Center has been enhanced to enable batch processing of any collection of transactions and documents managed within eCore. Users can now easily perform actions such as transfer, edit, update status, print, export, and destruction of collections of transactions or documents. All pending batch actions are easily identified within the user interface, and the role-based permission system enables organizations to easily delegate responsibilities across user groups within their company.
Enhanced Control of Transferable Records Transactions. eOriginal has enhanced the eCore contract lifecycle management and transferable records automation functionality. Customers may now define complex business rules to be used during a transfer of ownership. eCore offers unparalleled flexibility to controllers of documents during the transfer process. Users can select individual documents, or sets of documents, within a transaction and assign individual retention policies on each document to be transferred. Assignment of documents has been greatly simplified, whether using the Command Center user interface or through embedding eCore in the user’s application using our published web services interfaces.
Integrated Electronic Signatures. The eOriginal SmartSign® electronic signature component of eCore has been enhanced to enable rapid integration and deployment within web applications. SmartSign™ signature templates automatically create executable, “ready for signature” documents. The system enables users to upload documents from a local or networked file system, set or change document sort orders, sent email invitations and track progress throughout the process.
SmartSign captures the entire signature process from document generation through the capture of all signatures. The solution complies with the rules of state and federal statues for consent and signature capture, logging each step in a detailed audit trail. Our server-side signing process ensures a trusted “closed system” that has been approved by customer internal and third-party legal counsel. Signed documents are automatically tamper-sealed by eCore in the integrated document compliance repository. Signers are able to save or print a copy of their signed documents, and customers can receive a notification email with a watermarked electronic copy of the signed document – which can be also be routed for inclusion in existing imaging, back-office archival or servicing systems.
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