eSignLive reduces barriers for adopting B2B electronic signatures

July 30, 2001

Partners can easily displace courier costs when signing agreements

Montreal, Qc, July 31, 2001 — Silanis Technology Inc. today announced that its new 1.1 release of ApproveIt® Collaboration Server, a business-to-business (B2B) electronic signing solution, is now shipping with added support for Adobe® Acrobat 5.0. The server, which is hosted on an organization’s Extranet site, enables partners, suppliers and satellite offices to enroll in the organization’s electronic community and get the electronic signing tool they need to add their signatures to agreements, legal contracts and other types of business documents - at the speed of e-mail and completely free of charge. By replacing pen and paper signing with Silanis’ electronic equivalent, all parties can eliminate the cost and inefficiencies of routing documents via mail or courier services.

ApproveIt Collaboration Server provides immediate return on investment by removing the key adoption barriers when rolling out a B2B solution between partners; namely an agreement over what technology to use and the cost and resources needed to support it. Because it is hosted on an organization’s Web site, it does not require partners to invest in the solution. It also does not force partners to change the way they work today. By leveraging standard enterprise software, such as e-mail, Microsoft® Word®, Microsoft® Excel®, and Adobe Acrobat 5.0, partners already have everything they need to create and distribute business documents for signature approval using Silanis’ solution. Partners can literally access the electronic signing tool, create their unique, electronic signature file, and start e-signing within a matter of minutes.

“50% of all courier shipments contain documents and letters, of which the vast majority require a signature approval or contain a proof of signature,” said Tommy Petrogiannis, President of Silanis. “Displacing courier services can have a tremendous impact on an organization’s bottom line. For example, Nextira - the largest distributor of Nortel products - reduced the cost of pre-printed forms and document shipping by 80% using Silanis electronic signatures and saved $1 million in the first 10 months of deployment.”

General Motors Acceptance Corporation Commercial Mortgage (GMACCM), the largest provider of commercial mortgages in North America, is Silanis’ first ApproveIt Collaboration Server customer. Having gone completely ‘paperless’ in 2000 across its 50 worldwide offices and 1,800 employees using Silanis ApproveIt Desktop, it will extend the benefits of electronic signatures to its partners, suppliers, contractors and loan appraisers as part of its 2001 eBusiness initiatives.

About Silanis

Founded in 1992, Silanis Technology, Inc. enables people to spend less time managing paper and more time driving business forward faster and more efficiently with the ApproveIt® family of electronic signature products. Over 900 customers in the financial services, government, manufacturing, health and pharmaceutical sectors use ApproveItä Desktop software to sign electronically. This includes the US Joint Chiefs of Staff, the US Army MEDCOM, GMAC Commercial Mortgage, Nationwide Insurance and Dell Financial. Silanis also offers ApproveIt Collaboration Server for legally binding B2B e-signing. Silanis’ sales HQ is located in Washington, DC, and its R&D center in Montreal, Canada. The company also has a regional office in Campbell, CA, and sales and customer support units in other US cities, in addition to a network of value added resellers and integrators worldwide.

ApproveIt is a trademark of Silanis Technology, Inc. Other names and brands mentioned herein may be the trademarks of their respective owners.

For additional information:

Andrea Simmons Silanis Technology (514) 337-5255 ext. 1152 e-mail: [email protected]