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DocuSign Helps Customers Lower Costs, Increase Sales; Worldspan, Chela Education Financing and RE/MAX Brokers Use DocuSign Online Signing Service to Eliminate Printed Documents and Speed up Transactions.

SEATTLE -- Most business transactions today are conducted quickly using the Internet, e-mail or cell phones -- that is until it's time to finalize the deal. Then everything slows to a crawl as documents are printed and mailed back and forth while the paper trail is completed. Now, however, companies are overcoming this barrier by moving to DocuSign's online signing service that allows even complex contracts to be signed by multiple parties as quickly and easily as visiting a secure Web site.

Among the customers using DocuSign on a daily basis are Chela Education Financing, Worldspan and Malik Rashid, a RE/MAX real estate broker in the Washington, D.C. area. While these customers are much different in size and industry focus they all need to conduct business fast with less administrative expense and complexity. By using DocuSign, they eliminate the expense and delays of delivering printed documents to customers, while also improving accuracy and security. In addition, customers find that fewer deals fall through the cracks because there are no delays in the closing process while documents are mailed. This efficient method of securing signatures translates into more closed deals and more revenue for DocuSign users.

Federal legislation to enable electronic signatures has been in place for more than four years. But early attempts at implementing electronic signatures required expensive, complex technology and only worked with a few applications. Because of the complexity of the early solutions adoption was limited.

"There is a misconception that electronic signatures will never become widely accepted for final signing, in part because of the failure of past technologies," said Court Lorenzini, DocuSign CEO. "As we are seeing, there is a huge pent-up demand for the right electronic signing technology, one that is secure, Web-based, easy-to-use, easy-to-implement and affordable."

Chela Education Financing: Lower Costs, Increased Sales

At Chela Education Financing, a leading education finance provider, transactions such as student loan consolidation can now be completed faster and easier electronically at www.chelastudentloans.org from start to finish. When customers select the ESIGN option rather than "Mail" or "Print & Sign", loan applications can be finalized and delivered into processing in as little as five minutes. In contrast, the traditional mail and paper-based systems take an average of 10 days from time of initial telesales contact to receipt of signed application.

According to Chela Chief Information Officer Virginia Robbins, the move to online signatures using DocuSign improves customer convenience, lowers administrative and postage costs and eliminates potential delays while items are routed through mail or package delivery services.

Chela was able to implement its ESIGN solution in less than 45 days from initial planning through development, testing and rollout. "With only limited resources on the project, we were able to deliver on-time and on budget," Robbins said. "Working with DocuSign has been a positive experience."

Worldspan: Streamlining Processes

Worldspan, L.P., a leader in travel technology services for travel suppliers, travel agencies, e-commerce sites and corporations worldwide, is using DocuSign's service to lower the administrative overhead in managing travel agency customer relationships.

Each month, Worldspan (www.worldspan.com) obtains thousands of customer signatures on contracts and work orders electronically using DocuSign. Prior to DocuSign, contracts had to be printed and either faxed or sent via overnight courier service and then archived in paper-based files.

"Our sales and contract management group is based on a CRM system to ensure that we deliver as promised to our customers," said Pat Hochstein, Worldspan Vice President - North American Sales. "With DocuSign, we don't have to worry about tracking down faxes or paper documents anymore. Everything is automatically integrated into our CRM system. And DocuSign maintains a permanent record with a full audit trail that validates every signature. We are very pleased with the performance, user experience and reliability of the DocuSign system."

Real Estate Agents: Time is Money

The lifeblood of a successful real estate agent is the ability to move quickly -- especially in a tight market -- and manage the volume of paperwork and signatures that are needed every step of the way. Malik Rashid (www.homesbyrashid.com), a RE/MAX agent in Bethesda, Md., stays a step ahead through his use of ZipForms and DocuSign.

Instead of the time-consuming drive through Beltway congestion to get signatures on listing agreements, Rashid quickly creates necessary paperwork in ZipForms and sends them through the Internet highway for customers to electronically sign.

"DocuSign makes life easier for buyers, sellers and agents," Rashid noted. "Instead of driving around to get paperwork signed, we're able to focus on finding the right opportunity. DocuSign also ensures that the paperwork is completed accurately and there are no worries about documents getting lost or misplaced."

To introduce customers to electronic signatures, Rashid typically shows the DocuSign system to customers during an initial meeting and gives them a short tutorial on how the system works. "Once customers see the system in action, they are very comfortable with the level of security and appreciate the speed and convenience," he said.

About DocuSign

Founded in January 2003, DocuSign is now the world's leading and most trusted online signing service. DocuSign's customers represent industry leading companies in real estate, mortgage, leasing, manufacturing, technology and communications. Named by Gartner, Inc. as a Cool Vendor to watch in 2005, DocuSign is a privately held company based in Seattle, Washington.
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Publication:Business Wire
Date:Jun 14, 2005
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