Montreal, QC, January 25, 2010 – Silanis Technology, the leader in Electronic Signature Process Management
, today announced that its ApproveIt Web Server solution has been selected by a leading company specializing in on-demand collaboration solutions for business. By processing documents electronically using electronic signatures, the on-demand collaboration provider can create a complete end-to-end electronic, web-based transaction. In addition to implementation services, this new contract is a transactional software license in accordance with Silanis’ strategy to diversify its offerings.
For this provider of online workspaces, eliminating paper and the manual processing of documents is essential to achieving real time process automation and collaboration. Starting with the Non-Disclosure Agreement (“NDA”) process, customers will be able to review, save, exit and resume e-signing of the NDA’s at any point during the signing process with a web browser only. Moreover, as a next generation ESPM solution, ApproveIt Web Server helps protect all parties involved in the transaction by ensuring that documents are executed in compliance with legal and regulatory requirements, capturing strong electronic evidence.
ApproveIt Web Server automates document processing by pre-filling documents with the required information and accurately presenting documents for electronic review in the correct sequence. The solution then prompts parties to accept any legal disclosures, electronically sign documents, and add their initials in all the correct places, while preventing the document from being returned if it is incomplete. And because the entire transaction is recorded from start to finish, the system generates stronger legal evidence than available with paper. Remaining completely electronic during the entire transaction is critical to reducing approval cycle times, eliminating errors, and enabling business to be transacted faster.
“The benefits of straight through processing go beyond eliminating the inefficiencies, hard and soft costs of paper,” said Tommy Petrogiannis, Silanis’ President and co-founder. “It provides organizations with unprecedented visibility into and control over their transactions; all while strengthening their legal and compliance position.”
About ApproveIt Web Server
ApproveIt® Web Server is an enterprise-class Electronic Signature Process Management solution that transforms any paper-based process to an all-electronic, web-based e-transaction. The features and functionality reflect feedback from real-world deployments across insurance, financial services and government mission-critical applications. ApproveIt Web Server is a response to evolving market demands for a more comprehensive e-signature offering that addresses the complexity of compliance-driven business transactions. It was designed to provide maximum flexibility, scalability and auditabilty, leading to greater adoption, easier implementation, and decreased risk.
Silanis Technology is the leading provider electronic signature process management solutions. The world’s largest insurance and financial services companies, major government agencies, integrators and service providers depend on Silanis to accelerate business transactions and reduce costs while improving compliance with legal and regulatory requirements. The company’s electronic signature platform, ApproveIt®, is an enterprise-class e-signature process management solution that transforms paper-based business transactions to all-electronic, Web-based processes for e-commerce and e-government.