Electronic Signatures Overview

Contract management automation has revolutionized the contracting process for thousands of companies by improving visibility, compliance and streamlining administration. However, one of the most important steps in the contract lifecycle -- the execution phase involving getting the signature – often remains a cumbersome manual process.

It’s time to say goodbye to wet-ink signatures on paper documents.

Electronic Signatures make your contract cycle completely paperless, reducing execution time from days to minutes, eliminating expensive "shipping" costs, and driving revenue in the process.

Whitepaper: Electronic Signature Overview
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How Does it Work?

It's EASY to obtain or provide an Electronic Signature. Contracts and participants are predicated on your configuration and assigned signature permissions.

If you are a contract author/manager and ready to get a signature…

1. Identify where in the contract you want a signature or initial, and who the signers are
2. A one click signature task sends the contract and signer list to DocuSign
3. DocuSign sends notification emails to the signers asking for signature
4. Automated triggers keep you apprised of signature status based on the update interval you select
5. Once fully signed, the contract PDF is secured, sent back and uploaded as a new version

If you are the signer…

1. Open the email from DocuSign requesting your signature
2. Review the places in the contract for you to sign. No log-in needed
3. Simply click on each location to "sign" your name
4. Click DONE to send the signed contract back to the requestor

Final copies are automatically stored in the Ariba system and DocuSign stores a master "tamper proof" copy in its SAS70-compliant datacenter.

What's an Electronic Signature?

An Electronic Signature is a fast, secure and easy way to sign a contract. Electronic Signatures carry the same legal effect as physical signatures while raising the standard for authentication and security.

Resistance to signing documents by other than handwritten means is common, and this reluctance is based mostly on tradition rather than legal principles. Most people know from experience that a handwritten signature need not resemble the letters of the signer's printed name. But many don’t know that a signature doesn't have to be anything more than an identifiable mark, and that an electronic signature doesn’t have to be visible at all.

Electronic Signatures are Legal

Any doubt about the enforceability of electronic signatures in the United States was erased in 2000 when the Electronic Signatures in Global and National Commerce Act (ESIGN) became the law of the land. E-SIGN clearly established that the use of electronic means to create and sign documents would not jeopardize their validity or enforceability at law. An electronic signature doesn’t even have to resemble what would commonly be recognized as a signature; it can be any "sound, symbol or process" adopted with the intent to sign a document. Simply put, E-SIGN clarifies that we can continue to enter contracts the way we always have for hundreds of years, using the signing tools available in the 21st century.

Whitepaper: Electronic Signatures Explained
Whitepaper: Secure & Enforceable:DocuSign Electronic Signatures

Manual Processes Cost Time and Money

In the manual signature world, most contracts are signed in two separate locations, which requires creation of the final version of the contract at one locale (usually the vendor), mailing 2 or more originals to the other locale (the customer), getting the customer to sign both originals, fax a copy to the vendor, then mail both originals back to the vendor locale, having the vendor sign (execute) both originals, and finally mailing one executed original back to the customer. This approach costs time and money, with no assurance or visibility the signatures needed will happen quickly and error-free.

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Benefits

Electronic Signatures Save Time and Money
Electronic Signatures make the entire contract lifecycle completely paperless and can help:

• Increase Revenue 50% - Closing a contract in real time increases the probability that it will close by 50 percent, resulting in incremental business.
• Improve Efficiency 90 percent - Reducing cycle time of physically moving contracts for signature through a workflow -- from days or weeks to minutes — results in higher transaction volumes.
• Reduce Cost 90 percent - Moving to completely paperless will dramatically lower the average paper cost of more than $170 per transaction.
• Improve Compliance - Easily meet audit and regulatory requirements, such as SOX 404, to ensure authenticity and process adherence.
• Go Green - Reduce your carbon footprint by eliminating paper, toner, packaging, shipping, and fuel usage.

Electronic Signatures are Secure
A "signature" using DocuSign is far more secure than any paper based process. Senders and signers can be assured their information is safe. Leveraging the latest application security, infrastructure protection, and DocuSign's unique contract execution process, DocuSign provides the peace of mind that documents and customer data is secure and safe during and after the signing process

Application
• AES Encryption of all Customer Information Assets
• SHA-1 Hash computed and compared for all transactions
• 100% audit log for all document activities
• Exported documents are digitally sealed
• All communication is over SSL 128 bit encryption

Infrastructure
• SAS 70 Type II Data Center with Dedicated Operations Team
• Fully Redundant Infrastructure
• 99.8% Service Level Agreement with 100% uptime over the last 12 months running
• Signer Authentication
• Supported authentication methods are – email, Access Code(PIN), ID Verify (KBA), OFAC, Age Verification, STAN PIN for student lenders
• 3rd party authentication tools that can be called in the signing instructions so that a recipient must pass one or several authentication steps before they sign.