TiVo Benefits From E-Signature Software Implementation
Leading DVR maker TiVo has implemented an e-signature strategy, adding another example of major organizations using the technology. A recent Baseline report explained that the DVR maker has deployed an e-signature setup because it needed to improve efficiency in a climate that is dominated by digital operations. TiVo and many similar organizations build their operations around an increasingly digital world and, therefore, generate their revenue via electronic solutions that drive business value. While these companies see first hand the profits created by digital and electronic operations, they are often mired in paper-based processes behind the scenes. E-signature software resolves this issue.
Tivo Implements E-Signatures to Eliminate Efficiency Problems
The news source explained that TiVo, like many businesses found that operating in the digital world was much more profitable and effective than dealing with paper records. Over time, the various legal and business units in the organization began to realize that they need to not only improve efficiency in many areas, but also find ways to standardize processes to avoid problems caused by diverse methods for completing similar types of operations.
Mark Nishihara, project manager for TiVo, told Baseline that the decision to implement e-signature solutions came after the organization realized just how inefficient many processes were. "In 2010, we realized that we had a lot of highly fragmented and manual processes in place and that just about everything we were doing involved paper," said Nishihara. "It could take a month or two for someone to receive a contract, print it out, sign it, and either fax or email mail it back - especially if an executive was traveling. We had people walking between offices and from one building to another with rubber stamps to close all the loops."
According to the report, TiVo has gained substantially from its investments in e-signature technology. The company has experienced a major acceleration of agreement and contract completion as it can complete deals with partners and stakeholders without having to wait an extended time for documents to print, be mailed and be manually handled. As a whole, the initiate has delivered considerable revenue gains and created a contract cycle that is now only a few days, or a few hours in good instances, long. This stands in direct contrast to a contract cycle that used to be, on average, 45-days long.
Tivo Finds Success With E-Signatures Through a Good Partnership
Deploying electronic signature systems effectively hinges on an organization's ability to choose the right partner for its needs. An effective partnership can create a good framework for signature and procedural advances, especially as businesses work to implement solutions that are secure and will hold up in court. When it comes to securing e-signatures, organizations need to make sure their vendor uses digital signature technology as the foundation for e-signed transactions.
An e-signature solution built on digital signature technology is necessary to secure the data and verify the authenticity of a signed record. This provides a key framework for security and data protection by ensuring that the document is tamper-evident and that no changes can be made to it after e-signing without invalidating the signature. The end result is not only a secure system, but one that will more easily comply with many regulatory standards.
Legal validity is another vital consideration with e-signatures, and there are clear regulatory guidelines that make it easier for an organization to establish processes that follow the laws. Like many good regulations, however, these rules do not tell companies what technologies and processes to use. Instead, they provide a framework within which a business can build its solution. Organizations that find a good partner can get the help they need to ensure they build an e-signature process framework that complies with industry legal standards. Companies like TiVo have gained substantially from e-signature investments, and finding the right partner for your organization's specific needs can help you unlock similar benefits. For further details on how to get started with e-signatures, check out our beginner's guide.