Thursday morning of Momentum 2013 kicked off with the Consumer Success Panel. The topic of conversation was, “Transforming Your Business.” The panel included Christine Brill, the Director of Homebuilding Applications at Lennar Corporation, Adam Krahling, the Vice President of HR Information Systems (HRIS) at American Express, and Maura Reilly, the Vice President of Sales Operations at Savings Bank Life Insurance of Massachusetts. The panel was moderated by DocuSign’s very own Roger Erickson, the Vice President of Customer Success.
Before the panel, DocuSign’s VP of Customer Success Roger Erikson spoke about customer programs focused on education, adoption, and communication of and about DocuSign. DocuSign University helps educate customers about DocuSign products. It provides online education to help users get the most out of their DocuSign investment and accelerate ROI. Roger also talked about Strategic Value Assessments. They are tools that help companies assess the business case for purchasing DocuSign products. Client ROI and success is part and parcel to DocuSign’s core business. We measure our success by our customers’ success.
Christine, Adam, and Maura all shared persuasive stories about the implementation of DocuSign for Lennar Corporation, American Express, and Savings Bank Life Insurance of Massachusetts.
SBLI is a life insurance company. They were facing the high costs and slow turnaround times that are all too common with pen and paper signature methods. Their slogan is “The no nonsense life insurance company,” but they weren’t being very no nonsense wasting time and money with pen and paper contracts. After implementing DocuSign, SBLI saw immediate results. All required fields were signed; all NIGO (Not In Good Order) applications disappeared, and no more customers were lost due to turnaround lag.
As a result, SBLI saves 10 to 14 days from the time the life insurance application is sent to acknowledgment of completion. They save 2 to 3 days alone in the underwriting process, and all documents are now in good order. DocuSign turns the dream of quick document turnaround into a reality.
Lennar, a large national homebuilder, shared a similar success story. They faced the problem of a decentralized sales team and large contracts to sign. After implementing DocuSign, there are no missed signatures or initials, and all documents are delivered to signers automatically, which adds up to big time and cost savings.
David Whitaker, counsel at BuckleySandler LLP, presented on the laws surrounding electronic signatures. Two key pieces of legislation make electronic signatures possible. The Uniform Electronic Transactions Act (UETA), and the Electronic Signatures in Global and National Commerce Act (ESIGN). Together, these laws codify three points that underpin all DocuSign signatures.
- A record or signature may not be denied legal effect or enforceability solely because it is in electronic form
- If a law requires a record to be in writing, an electronic record satisfies the law
- If a law requires a signature, an electronic signature satisfies the law
Business strategist and best selling author, David Horsager, excited the crowded ballroom with his irresistible passion and energetic stories. David gave a compelling keynote speech arguing for the connection between trust and a businesses bottom line.
David told a story of a doughnut stand vendor in New York City named Ralph. Ralph had a very gruff demeanor that you would think would scare away customers, yet his doughnut stand was the busiest by far. The main thing Ralph did differently from the other doughnut vendors was he allowed his customers to make their own change. David argued that customers preferred the speed and ease of the transaction, as well as the positive feelings associated with participating in this relationship of trust. That is why Ralph’s doughnut stand saw twice the customer volume and greater loyalty than any of the other doughnut stands.
In his presentation, David outlined eight pillars essential to earning and maintaining trust.
If these eight pillars of trust are achieved, trust will flourish, and business will be brisk.
The day ended with a keynote presentation from Matt Malden, DocuSign’s Chief Product Officer. He led the audience through some key statistics about DocuSign’s performance. Electronic envelope volume increased 110% from the years end last March, and the rate at which envelopes are being signed is dramatically increasing too. 62% are signed within one hour and 86% are signed within one day.
DocuSign is continually pushing the envelope with its products. We invest heavily in R&D. DocuSign spends more money on research and development than any other eSignature platform and will spend three times more money on R&D in 2013 than in 2012. DocuSign is also energetically gathering customers feedback. Feedback is always being incorporated and used to improve the DocuSign experience. The experience and usability is optimized for the signer, as well as the sender, so it is easy for all parties to create, send, and sign documents.
Matt announced that DocuSign is expanding its capabilities in several key ways. It has expanded its cloud storage integration. DocuSign now allows users to import cloud-based documents from Evernote, Egnyte, and Microsoft SkyDrive. DocuSign has also rolled out enhanced email security with is a specific code at the bottom of each DocuSign email that users can enter on the DocuSign website to verify the authenticity of an email.
The largest improvements in DocuSign, however, have been made with the DocuSign mobile app, DocuSign Ink. Since the introduction of DocuSign Ink, it has been downloaded more than 1.1 million times. Mobile devices will soon have two groundbreaking features, Mobile Tagging and Offline Signing. Both features are exactly what they sound like. Mobile Tagging allows users to insert signature fields into documents from a mobile device. Offline Signing allows documents to be signed while not connected to the Internet. Once an Internet connection is reestablished, the documents are automatically uploaded and delivered through the DocuSign cloud.
We hope all MOMENTUM attendees learned about the value of “Keep it Digital” and more ways to integrate and use DocuSign.
See you next year!