The signing process is the keystone of the execution of a legally or administratively binding agreement. The true value to an organization lies in replacing all paper-based processes with electronic ones.
Montreal, QC (PRWEB) October 28, 2010
Silanis Technology today announced its electronic signature solution has been successfully used in conjunction with Hewlett Packard’s HP Exstream software, the market-leading customer communications management platform*, to provide electronic signature capabilities to HP Exstream applications. Government organizations, insurance carriers and financial service providers can automate customer communications signature capture helping to ensure security and authentication and reduce cycle times and costs while improving the customer experience.
“Today’s economic climate is putting pressure on organizations to maximize every customer interaction, and move to less expensive channels like the web,” said Tommy Petrogiannis, CEO and co-founder of Silanis. “Enterprises that continue to maintain point solutions for document output and e-signatures will struggle to meet emerging customer experience expectations.”
Independent research firm, Forrester Research, Inc. explains why e-signatures are the linchpin to an automated e-document execution strategy in a recent report entitled, “Market Overview: E-Signatures in 2010” **:
“The signing process is the keystone of the execution of a legally or administratively binding agreement. However, as central as it is, the signature itself is only one part of the overall document or business process cycle.” according to Forrester. “The true value to an organization lies in replacing all paper-based processes with electronic ones and securely automating as many previously manual steps and procedures as possible.”
“To bring more paper-based processes online, enterprises require a means of electronically ensuring information authenticity and integrity,” said Scott Draeger, manager of product strategy for HP Exstream. “We believe electronic signatures are critical to any IT modernization strategy, and with Silanis’ signature solution, HP Exstream can help verify the identity of the signer and the authenticity of a document, improve document output, support regulatory compliance, and enhance the customer experience – all while lowering costs.”
Silanis and HP think this is important because many businesses are responding to a growing demand to produce on-demand document and form output to maximize customer interaction and lower costs through the web. Incorporating electronic signatures into customer communications enables organizations to take full advantage of new and existing business systems to orchestrate and execute the entire customer transaction electronically over the web.
One customer that has already benefitted from the integration of Silanis e-signature is 21st Century, a leading auto insurance carrier in the U.S.
“The combined Silanis e-signature and HP Exstream solutions has enabled us to significantly reduce processing cycle times. More importantly, it has enabled us to deliver superior customer service both in our call center and over the web” said Tony Cacchione, CIO of 21st Century Insurance and Financial Services.
Customers using Silanis’ product and HP Exstream together can expect the following capabilities:
- Preparation of documents and packages to comply with the transaction requirements
- Secure electronic presentation, signing and delivery of documents and disclosures across multiple channels
- Electronic signature capture and authentication over the web, through mobile devices or with signature capture devices
- Enforcement of business rules during the document review and signing process to ensure compliance and reduce transaction errors
- Ability to capture data and make updates during transactions to ensure the correct data at any time
- Passing electronically signed documents and validated data to downstream systems for straight-through, lights-out processing of transactions
- Comprehensive audit and electronic evidence including all web pages presented to customer during review and signing
- Storing and archiving secure, electronically signed documents according to industry-specific requirements
Organizations that have moved to straight-through processing have seen significant return-on-investment, including 90% adoption rates over the web and 40% in the agent channel***.
Silanis' solutions have processed hundreds of millions of e-signatures since the company was founded in 1992 (50 million in 2010 alone), making it the most widely used e-signature solution. The world’s largest insurance and financial services companies, government agencies, and service providers depend on Silanis to accelerate business transactions and reduce costs while improving compliance with legal and regulatory requirements. The company’s on-premise, cloud and SaaS e-signature solutions eliminate manual, paper-based processing to enable e-commerce and e-government transactions to be executed fully electronically from start to finish. Visit us on the Web at silanis.com
*As reported in Celent 2010 Deal Trends Report
** As reported in Forrester’s 2010 E-signature Market Overview
*** Silanis Technology internal data and case studies