07/24/2008

DocuSign announced the latest release of DocuSign that introduces an extensive set of new features to help customers achieve the goal of replacing the expensive and slow use of paper in all contract execution processes.

ebizQ received the following:

This latest release of DocuSign automates the entire contract execution process, further enhancing the most powerful solution available in the marketplace today. As a SaaS (Software as a Service) offering, DocuSign’s automated contract execution services can be deployed very quickly into existing business processes such as sales contract execution, new account openings, HR forms processing and document transaction processing.

According to Xerox research, businesses annually print over 18 trillion pieces of paper at a cost of $4 billion. But that figure pales in comparison to the more than $120 billion businesses spend each year to manually process paper. Compounding this enormous problem is the skyrocketing cost of transporting paper for signatures due to the high cost of fuel.

By turning to DocuSign, enterprises are able to completely remove paper from the contract execution process and replace it with a fully secure electronic transaction. The profitability impact for enterprises using DocuSign has been very positive, saving more than 90 percent in paper processing costs while increasing sales contract close rates by more than 200 percent.

“Current economic conditions call for lower operating costs, higher revenue capture rates and reduced energy use. DocuSign’s electronic contract execution automation system has allowed our customers to run leaner, greener, faster and more profitably,” said Matthew J. Schiltz, DocuSign CEO and President. “Electronic contract execution automation is a high growth category and our latest enterprise product release further extends our market leadership.”

Proven for mission-critical applications, the latest DocuSign release incorporates more than 20 completely new customer-driven features and enhancements to DocuSign’s current offering. It introduces numerous new and extended capabilities that reinforce the suitability of DocuSign for mission-critical enterprise applications, while enhancing flexibility and improving the user experience for both senders and signers. A powerful Web-based dashboard lets enterprises flexibly optimize and control the process of prepping and routing documents, collecting data, obtaining signatures and archiving contracts. It also provides technology for capturing business data and incorporating it into other processes. The entire process can be configured on the fly – or locked down for compliance needs – and can include people both inside and outside the company.

Highlights include the following advancements:

Real-time eForm data collection – using the new SecureFields™ technology allows data fields of all types to be assigned to specific recipients in a transaction workflow, and enables straight- through processing.

PowerForms™ – secure DocuSignable PDF forms that can be distributed in any fashion and can be electronically signed and routed with centralized control. Includes rights management controls for different users.

Bulk Sending with Data Integration – allows contracts with custom fields and workflow on each to be sent automatically to thousands of recipients.

Freeform Signing – allows simple contracts to be signed by the recipients by dragging and dropping their signature, initials and other elements into the document where the contract indicates.

Intelligent Document Recognition – uses AI to recognized contracts and apply the proper workflow to them on the fly.

Expanded Web Services API – enables businesses to integrate DocuSign into their existing applications enabling full automation of the contract execution phase.

DocuSign has more than 2,500 corporate customers with more than 500,000 users as well as numerous partners and resellers. Customers include leaders in financial services and banking, technology, education, mortgage, travel and real estate. They use DocuSign to close deals faster, lock out competition, increase profitability, enhance support compliance and improve their competitive position. These companies have abandoned or greatly reduced their use of paper, printers, fax machines and overnight mail services, reducing costs and improving efficiencies. The DocuSign solution has a positive impact on the environment since it greatly reduces the amount of paper and fuel used, leading to fewer carbon monoxide emissions from trucks and airplanes for global delivery of documents.