Telatron Marketing Group Slashes Student Loan Consolidation Process with DocuSign

How did DocuSign eSignature service reduces turnarounds from five days to one hour and increases compliance from 20% to >65% for Telatron Marketing Group?

Telatron Marketing Group Profile

Founded in 1985, Telatron Marketing Group, Inc. is a nationally recognized provider of B2B and B2C contact center solutions to organizations in nearly every industry. Highly advanced technology and experience have made Telatron an industry leader in Sales, Market Research, Business Continuity, Lead Generation and Customer Care. Telatron employs more than 350 professionals.

Telatron's Business Challenge

Every summer, the student loan consolidation market heats up due to a jump in interest rates that take effect July first of each year. Many banks turn to Telatron's call center business to capture as much of this loan consolidation business as possible during this time.

With over 30 IT professionals, Telatron can develop application software in support of their customers' marketing programs, including the loan consolidation applications that enable call center representatives to generate a PDF loan package and email to the customer on the fly.

While Telatron was able to keep up with the call center volumes, they ran into several challenges when trying to complete the loan consolidation process, including:

Speed. Across different markets, businesses typically receive only 25%-40% of the documents started on the phone or online. For Telatron, document turnaround took five days or more.

Errors. Often when a customer is left to navigate the document, signatures or initials are inadvertently omitted. This results in rework, adding additional time and cost for the transaction.

Cost. Domestic overnight express costs range from $16 to $24 round trip depending on the business. These fees can be $100-$150 round trip for international overnight documents. Handling these documents and re-keying information due to errors can cost $25-$30 per hour.

Compliance. Paper documents must be handled carefully and filed for audit compliance using a labor-intensive process. The cost for this process range from $25-$50 per hour and create work for entire departments.

DocuSign Provides an Electronic Signature Solution

Telatron knew that electronic signatures could dramatically improve this process and evaluated whether to build or buy the eSignature technology.

Telatron soon learned that, unlike other IT applications, an eSignature solution must adhere not only to technological requirements, but also legal requirements. In addition, it was important that the solution have powerful integrated authentication tools to enable positive identification of the loan applicants.

The mix of technology and legal framework can require specific types of personnel knowledgeable in cryptographic solutions, and counsel familiar with ESIGN, UETA, UCC, and other legal parameters. In addition, due to the complexity of the actual document handling process, the system must be developed in a way that both provides a seamless, easy to use customer experience, and at the same time, is legally binding—a delicate balance that can require extensive and continuing end-user testing and validation.

Telatron chose to integrate DocuSign Corporate Edition Enterprise Electronic Signature Service into their existing loan consolidation applications.

DocuSign Corporate Edition Enterprise Electronic Signature Service Delivers Results

Using Telatron internal IT staff, Telatron integrated the DocuSign service into their existing call center/PDF generation applications in fewer than two weeks. Production ready in fewer than three weeks, Telatron eliminated inbound paper processing, did away with signing errors and shortened the turn around time from more than five days to less than an hour.

Telatron can scale with market demand to serve their banking customers more efficiently. Additionally, the integration of DocuSign improved their bottom line transaction return rate from 20% to an estimated 65% or more. As a result of reducing the transaction turn time, Telatron has shortened their cash flow cycle as they can get paid as soon as they transmit the loan rather than waiting for 10 days as they did in the past.

As an industry leader, Telatron prides itself in its pledge for technological advancement. DocuSign eSignature service has enabled us to grow and meet the diverse needs of our clients through the highest quality of performance. - Sean Bebko, Senior Vice President of MIS at Telatron

For more stories on how electronic signature from DocuSign has enabled businesses to save time, slash costs and close deals faster, take a look at DocuSign's electronic signature customer testimonial page. To see how you can leverage DocuSign to send, sign and store electronic documents securely and with confidence, click here to talk with a DocuSign representative about what makes sense for your business.