Comments on: Are You Ready to Get Your Deals Signed Quicker?

By: Jan Visser

Jan Visser — Tue, 04 Dec 2007 15:04:52 +0000

Martin, electronic signatures are optional. You indicate whether an electronic or paper signature is required when you initiate the process. If ink on paper is required, you print the contract, sign and fax to a specific fax number while using a provided fax cover sheet. That inserts it into the workflow which then delivers copies, archives etc. If you’re interested, take the trial - gives you a more exact idea of how it works.

By: Martin Saenz

Martin Saenz — Tue, 04 Dec 2007 13:45:36 +0000

After reading your response, I see it applicable with B to C contracts more than with small biz to large co. contracts. I’m a small biz and sell 50% to the Federal Gov (b/c I’m in DC) and 40% to large corporations and do not see the electronic signature as a strong plus. But when dealing with consumers, throw the book out the window.

Martin
toolkitforsuccess

By: Bob Gill

Bob Gill — Tue, 04 Dec 2007 09:56:15 +0000

I have a paid plan, being in the UK it’s through a deal Echosign have got with BT our biggest telecoms provider. I pay £9.99 per month and probably have 10 contracts per month signed using it. However, when I say contract, I admit that I really use it more as a compliance solution.

Being in financial services there are usually always two documents that require a ‘wet signature’ and that is the application declaration and the direct debit mandate. These documents I usually still send out by regular post. All the other documents - of which there are many - are all for regulatory compliance purposes - i.e. fact finds, illustrations, product key features documents. These all have to be acknowledged by the customer.

Now if I was an unscrupulous salesperson, in a face to face situation, I could simply hand a customer a document opened at the page where the signature was required, say “sign here” and take it away without allowing the customer to read any small print.

With an e-signature solution, however, I am sending the customer the document remotely. They have to read all the documents before they can sign. Through the audit process I know when they opened it, how long they have been reading it and when they signed it. This means I know that I have given my customers ample opportunity to raise any questions about the product I am selling them and can prove that they read all the small print. Heck, if I didn’t think they had read the documents long enough, I could ask them to go, read and sign again!

I wonder if all US mortgage brokers had used e-signatures as the solution for their customer’s applications, whether we would be having all the problems with sub-prime ARM’s, where the devil was in the detail that the customer may not have had the opportunity to read?

By: Brandon Hull

Brandon Hull — Tue, 04 Dec 2007 05:47:24 +0000

And if you’re in a small business competing against the big guys, who have to have contracts approved by the people upstairs, where upstairs represents some location elsewhere, there’s a tremendous advantage. Maybe waste management companies…uniform/textile rental companies…etc.

By: Martin Saenz

Martin Saenz — Mon, 03 Dec 2007 21:57:30 +0000

Got it. Thanks,

Martin

By: Jan Visser

Jan Visser — Mon, 03 Dec 2007 21:55:05 +0000

Martin, you’re not missing anything - every industry, product and customer base has a different dynamic. The extent to which a prospect perceives you and your service as a commodity, will probably determine the amount of patience. But keep in mind, we’re not talking hours here - there’s businesses out there that can’t turn around a contract in less than 2 weeks or even more. I’d think that everyone gets a bit antsy at that point!

Bob, do you use a paid plan or the free service? How many agreements would you say you generate with EchoSign in any given period of time?

By: Martin Saenz

Martin Saenz — Mon, 03 Dec 2007 20:56:52 +0000

I understand there are different types of businesses with different demands, but do you really want to be in a business where the customer is that fickle whereby you cannot even blink an eye.

I’ve had my own sign company for the past 4 years and deal with customers that are stable and hold true to their word for the most part. Am I missing something?

Thanks,

Martin
toolkitforsuccess

By: Bob Gill

Bob Gill — Mon, 03 Dec 2007 18:26:31 +0000

I use echosign. I have to say it’s a revelation, so easy to use and makes the contracts signing quicker, more auditable and more environmentally friendly too.