The benefits of going digital go far beyond the application of eSignatures. Westgate Resorts, a vacation ownership leader, is experiencing an enhanced sales process that provides better, faster and more pleasant experiences for members and sales reps, all while reducing the time spent in the sales and expediting contract funding.
In addition to Westgate, other Vacation Ownership industry leaders like Wyndham and Global Connections have moved away from obsolete paper processes and they continue to realize the benefits of adopting an end-to-end Digital Transaction Management (DTM) solution. These benefits include reduced closing times, enhanced customer experiences, plus speed funding times, and have gained confidence in the financing process.
Shifting to Digital
As an industry pioneer, Westgate Resorts has transformed its paper sales processes and improved efficiency by going paperless through a joint solution with eOriginal, DocuSign, Informa and Microsoft. Prior to the DTM shift, their process required multiple signatures on as many as 30-40 documents. Today, Westgate utilizes MS Surface Pro tablets in the closing process. The new streamlined experience:
- Captures signatures while keeping the closing officer in full control of what the customer sees and when;
- Locks downstream real estate and legal workflows into the digital process;
- Witnesses and notarizes on-demand via tablet;
- Delivers eDocs via USB or CD at the end of the transaction; and,
- Provides proven and secure processes with fully compliant audit trails.
In under a year, Westgate’s implementation yielded 6K envelopes a month. Full implementation will easily and seamlessly manage 1.6M digital transactions per year.
Beyond the Signature
Realizing that digital goes past the signatory phase, Westgate enlisted with receivables servicing provider Equiant. Through the integration with eOriginal and Equiant, the vacation ownership leader’s DTM solution integrates all business processes and ends with a legally enforceable, executed contract that is placed in a secure eVault management solution with robust audit trails and meets the strictest legal requirements for sale or transfer via a digital platform.
In addition to improving document security and speed to funding, the solution eliminates the need for file drawers, sorting and organizing and reviewing the completes, as well as shipping paper documents to the custodian. At Equiant, the check-in process is quicker and more efficient due to a digital review process.
For vacation ownership companies, contract digitization is a powerful opportunity to increase customer satisfaction, decrease costs, reduce errors and increase speed to funding. Want to learn more? Watch this brief video that discusses our DTM solution for Westgate Resorts.