eSignLive Introduces New Return on Investment Plan for E-Signatures
Technology Proven to Deliver Dramatic Financial and Business Efficiency Benefits across IndustriesMontreal, QC, July 16, 2008 - Leading electronic signature provider, Silanis Technology, announced today a new return on investment plan designed to assist companies in quantifying the bottom line impact of electronic signature technologies. The Silanis ROI methodology will be introduced on July 31, 2008 in a webinar hosted by Silanis president and co-founder Tommy Petrogiannis. Interested parties can register now for the free event entitled "Calculating ROI on Electronic Signatures: Real World Results". According to leading industry analyst firm Gartner, electronic signature suites are maturing and “client interest has grown during the past year, particularly among financial services clients for comprehensive e-signature offerings.” Gartner further reports, “the common drivers among these industries include not only the desire to automate the signature ‘last mile’ of business processes but also to ensure that good processes are followed and that records and the events associated with signing these records are well-preserved using sound controls.” “Silanis’s ROI plan is derived from real-world returns realized by our customers across a wide number of industries. This ROI guidance will help our prospects and customers build a solid financial justification for their electronic signature investment, secure decision-maker approval, and overcome internal opposition to change,” says Silanis president, Tommy Petrogiannis. Silanis’s ROI plan outlines the many benefits (tangible and intangible) an organization can realize through electronic signature adoption. The plan organizes return on investment benefits by revenue growth, cost savings/cost avoidance, competitive differentiation, compliance and risk minimization, staff and business efficiency, customer service, and environmental responsibility. Silanis’s ApproveIt® electronic signature platform has been demonstrated to yield dramatic financial and business efficiency returns for organizations across a wide variety of industries, including US Federal and State and Local Governments, as well as insurance, financial services and manufacturing sectors:
- The US Army expects to save $1.3 billion annually in administrative processing costs alone by successfully reengineering its paper forms-based business through a new electronic forms program provided by Silanis Technology and IBM. The US Army’s inventory of 100,000 forms serves 1.4 million US Army personnel around the world.
- The US General Services Administration (GSA) has slashed its processing time for new vendor applications from 140 days to hours using Silanis’s electronic signature technology and has eliminated the mail, fax, and overnight delivery expenses typically associated with its contracting process.
- Silanis’s ApproveIt ® electronic signature platform has enabled the Kansas Department of Transportation (KDOT) to become 100 percent electronic, resulting in a dramatic five week reduction in approval times on requests for permits for highway accesses, and a 60 percent reduction in form turnaround time.
- A Fortune 500 Financial Services Provider and a leading provider of 401(k) plans was able to reduce approval times on application packages from 14 days to just a matter of hours, and virtually eliminate courier $16 per package through a conversion to e-forms and e-signature technology from Silanis.
- A leading insurance carrier who has implemented Silanis e-signature technology across multiple channels and product lines has removing the final barrier to straight-through processing and conservatively estimates it can achieve a total return on investment within two to three years, as well as saving $10 per transaction based on elimination of paper, scanning and service costs.
Silanis solutions not only eliminate the inefficiencies of paper; they provide reliable and auditable business records needed to demonstrate compliance with applicable laws, standards, regulations and policies.