Leading up to our MOMENTUM’16 conference, we’re highlighting the forward-thinking companies that help make the event possible. Below, Cameron Brennan, Director of Product Marketing for OpenText’s ECM based Engineering Document Management Solutions, offers his insights on how the company’s partnership with DocuSign provide enterprises the freedom to obtain secure, managed, and legally compliant electronic signatures anytime, anywhere, from any device, all while achieving greater efficiency and compliance.
If you have ever purchased or even refinanced a home, you have experienced the hundreds of signatures and initials required to get this done. I’ve had my share of waiting for, and paying for, FedEx packages—or even worse, trying to get my all-in-one printer to print and then fax back 50+ pages. I must have re-tried one fax 10 times with all of the paper jams. Then, when I thought all of the pages finally went through, I was told that they “didn’t get it” and I would have to start all over. This is not what you want to hear when your rate lock is about to expire!
A few years ago, I bought another house, but this time I was told that everything could be done online. I signed and initialed tons of pages in no time. I hit submit and I was done! Did I mention that this fantastic time-saving tech was from a company called DocuSign?
While we often hear that all successful businesses will one day be 100% digital, tedious, manual processes like obtaining signatures make that reality seem eons away. As I experienced, documents are often printed, then sent out via overnight mail or faxed, and then they are signed, returned, and stored. Aside from the costs associated with that cumbersome process, organizations risk losing visibility into the status of the document by breaking the digital workflow—leading to lost documents and a struggle to correctly determine where to store or archive the document.
To improve efficiency in signature processes, OpenText provides several solutions for electronic signatures—and has recently also partnered with DocuSign to provide its Digital Transaction Management (DTM) solutions. DocuSign’s DTM solutions enable organizations to obtain secure, managed, and legally compliant electronic signatures anytime, anywhere, and from any device.
The time and burden that employees associate with paper signature processes is reduced. DocuSign also helps to ensure enterprises meet compliance and information governance standards through its complete, easy-to-monitor audit trail—capturing all activities associated with the document, time stamps, and the location of where the document was signed. DocuSign has use cases in sales, human resources, finance, IT/operations, legal, marketing, facilities, support, product management, procurement, and more, and its benefits include:
- Return on Investment (ROI) – DocuSign creates an immediate ROI, with its instant savings on print supplies and shipping costs and long-term savings of costs and time due to faster workflows for closing sales, onboarding candidates, and much more. Customers report saving more than $30 per envelope.
- Customer Experience – Faster workflows and the reduction of tedious steps—such as locating fax machines or shipping locations—mean happier customers, as well as happier employees.
- Compliance – When documents are printed and mailed around to individual participants, form fields might be missed, and documents could easily get lost in transition. DocuSign helps enterprises with a faster workflow that includes system controls to ensure forms are filled out properly and documents are never lost—and its complete audit trail lets users know which step of the process a document is in every step of the way.
For more on how DocuSign for OpenText can help your enterprise achieve these benefits, please view our webinar recording here.