Access to up-to-date information is rapidly becoming the standard for users armed with the latest Smart Phone technology. Most of us have an “app” for getting the latest news, weather, sports scores, whatever we want to know when we want to know it. Business users are no different, in fact for those of us that travel a lot or have the benefit of working remotely, access to information we need to get the job done is critical. And a big part of getting the job done often involves getting signatures on documents from your customers, partners, or employees. Whether it is a new contract, a mutual non-disclosure, a real estate agreement or a beneficiary form – having the ability to track where it is in the process is crucial to your business.
With the latest version of eOriginal Command Center we enable you to satisfy your need for “information when I want it, where I want it.” Command Center automatically detects when you are on a mobile device and adapts the user experience to the capabilities of the device. Once you have logged into the application, you can quickly search for outstanding transactions by date sent, status or both. The results are displayed back in seconds and allow you to drill down to see all the details about the transaction. Is one of your deals “stuck” waiting on someone to sign a contract? Simply send out an email reminder to the customer, or all participants, right from your phone. So now, wherever you are you can keep up with your business and keep information moving as fast as you are!
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.
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.
As a direct auto lender, operational and business goals are typically clear; identify more prospects, qualify more candidates, and close more loans. Meeting these goals brings positive returns, including increased revenue and profitability. A critical element in accomplishing these goals is making the entire lending process easy and fast for the consumer.
Technology has assisted in streamlining the direct lending process. For years, direct lenders have had the ability to qualify consumers in minutes, sometimes within seconds. Origination of the lending package has also been automated through the use of proprietary or third party loan origination systems, or completed through web-based applications. These capabilities have greatly assisted in creating a more efficient lending process, but what is still left is a lengthy, tedious and costly paper trail.
eOriginal’s SmartSign electronic signature and lifecycle management solutions have allowed direct lenders to close this loop, completely streamlining the lending process – from qualification to closing, all in one quick session. SmartSign enables these accelerated processes without compromising the legal or negotiable value of the documents being signed.
Tightly integrate into existing loan origination systems and web-based applications
Close more loans, faster, with increased adoption rates
Reduce operating costs
Process loans faster while eliminating costly errors
Maintain legal compliance and secondary market requirements, enabling the ability to electronically sell, collateralize, and securitize your negotiable instruments
eOriginal is the leading technology provider for eContracts securitized in the secondary markets and accepted by rating agencies in the automotive industry for the fulfillment of UCC 9-105 requirements on e-chattel and transferable records. eOriginal’s technology has allowed lenders to electronically originate, sign, and securitize billions of dollars in direct auto loans, removing process and compliance barriers for financial institutions.
eOriginal clients commonly use the Transaction ID or Status values to search for a transaction(s). Transaction External References (1-3 ) are fields that can be customized to meet your organization’s business needs.
The benefit of customizing these labels allows your users yet another way to search for or batch processing needs.
Transaction Labels are the headings that appear above the Transaction list to the on the Command Center – Workspace page (see example below).
These same labels are also used to describe transactions in the SmartSign application.
Transaction Labels’ names can be updated in the Command Center Administration area. (See Settings – Transaction Labels).
Smart Sign Web clients can coordinate the labels values by accessing the Setup Application tab under Administration – System Account.
After the values have been updated there is now an updated tool to meet your business needs.
Take some time to view a brief presentation on how eOriginal’s Transaction Labels can help your organization improve your management of Electronic Original transactions and documents.
Innovative approach dramatically streamlines application origination using voice and electronic signatures.
BALTIMORE, MD (PRWEB), April 12, 2010 – eOriginal Inc, a leader in electronic signatures, vaulted repository and electronic transaction solutions, has partnered with Heritage Union, an innovative provider of income protection life insurance plans under the brand name SalaryShield®.
Heritage Union, an early adopter of voice and electronic signature, found itself in a unique position when their vendor decided to pull back to their core business and phase out of the life insurance business. They had more than adequate service in the interim and time to find the best available electronic and voice signature service provider.
They wanted a vendor that had a “bullet-proof” process of binding a voice or electronic signature to the application document on a single platform. And they required a managed repository for their application documents, providing a lifecycle management process that would satisfy both audit and legal scrutiny, as well as provide a means of non-repudiation.
“We looked at a broad range of vendors before determining that eOriginal was the only one that met our criteria of 1) a single vendor to support both voice and electronic signature on a single platform 2) ability to deliver the total process we needed 3) a repository that was very robust and would deliver the highest standard of perpetual care,” said Sean Gorenflo, Heritage Union’s director of infrastructure.
“Heritage Union is a great example of a fast-growing company that has used innovation to craft their offerings, take them to market and manage their operations,” added Jim Tebay, eOriginal’s VP of Business Development. “Our signature processing treats their voiceprints like any other compliant esignature; and it is a natural fit for many call center operations that want to use our technology for straight-through processing.”
About Heritage Union
Founded in 2005 by financial services executives who experienced first-hand the intrusive, overly complex and frustrating nature of obtaining life insurance, the Richmond, Va.-based Heritage Union family of companies designs life insurance products aimed specifically at helping middle class American families protect their income in the face of premature death. Licensed, well-capitalized and staffed by industry professionals who recognize that shopping for life insurance should not require a crystal ball or MBA, Heritage Union is transforming an industry with new, innovative income-protection life products under the SalaryShield brand that are easy to buy, affordable and understandable. For more information about SalaryShield, visit www.salaryshield.com.
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 millions of documents without a single system error or successful legal challenge.
Access to up-to-date information is rapidly becoming the standard for users armed with the latest Smart Phone technology. Most of us have an “app” for getting the latest news, weather, sports scores, whatever we want to know when we want to know it. Business users are no different, in fact for those of us that travel a lot or have the benefit of working remotely, access to information we need to get the job done is critical. And a big part of getting the job done often involves getting signatures on documents from your customers, partners, or employees. Whether it is a new contract, a mutual non-disclosure, a real estate agreement or a beneficiary form – having the ability to track where it is in the process is crucial to your business.
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