Here at DocuSign, we base our success on our customers success. To that end, being strategic partners with you, our customers, is imperative to create a simple and intuitive product that even your 88 year old grandma can understand. And we did just that with our Financial Services customers to create a capability we released last month called Supplemental Documents. Dive in with us to get the story.

The Department of Labor “Final Rule”

But first, let’s set some context. In April 2016, the U.S. Department of Labor issued its “final rule” on fiduciary responsibilities of those providing investment advice and products to retirement accounts and employee benefit plans. Going forward, those who provide investment advice to plans, plan sponsors, fiduciaries, plan participants, beneficiaries, IRAs, and IRA owners must either avoid payment that create conflicts of interest or comply with the protective terms of an exemption. 

Partnering with Financial Services Customers to Understand Their Challenges

In 2014, DocuSign convened with its Financial Services Consortium customers to understand platform and product enhancements for financial and fiduciary disclosures. The goal was to rethink how companies can present disclosures and other supporting documents to their signers. Meaning companies need their customers to view and accept these documents. But often, these disclosures are long and don’t need to be signed, only viewed, resulting in a large envelope (sometimes hundreds of pages), overwhelming the signing experience for clients. Often, clients give up and do not complete the document.

We learned this by working hand-in-hand with our Financial Services customers, in particular a large American investment firm to develop this capability who also participated in usability studies to bring this capability to life. For their use case, when opening an individual investment account and setting beneficiaries, this company wanted to streamline this process while staying compliant with regulatory obligations. Their supplemental documents include electronic records agreement, account opening agreement, and a transfer of death agreement. By using Supplemental Documents, the large invest firm saw an improvement in their clients’ signing experience and increased envelope completion rates.

We Bring You the Solution: DocuSign Supplemental Documents

Now with DocuSign’s Supplemental Documents, companies can include supporting materials such as legal disclosures or terms & conditions documents as a different and distinct part of the envelope without distracting from the primary documents that need to be signed. This not only ensures compliance with a complete audit trail, but increases envelope completion rates and provides a superior signing experience like our large investment firm customer saw. Customers can even set properties for these supporting documents that define how the documents are displayed, the actions recipients must take, and if the documents can be downloaded when the envelope is completed. The result is a better experience for signers and all the tracking and auditing companies need in order to comply with industry requirements.

Check out a short demo of Supplemental Documents here. If you’re a current customer, please contact your DocuSign Account Manager if you’d like to start using this functionality.

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