Financial Industry Case Study: How ReachOut Capital Reduced their Electronic Signature Spending by 75% While Increasing their Document Completion Rate by Three times
eSign Genie has had the pleasure of working with and supporting the needs of ReachOut Capital. While ReachOut Capital has been busy diligently and expertly supporting the financial needs of small and midsize businesses, eSign Genie has provided an electronic signature solution that they can count on. In this case study, we’ll dive into why a cost-efficient and the user-friendly signature solution was important for ReachOut Capital and how eSign Genie helped along the way.
ReachOut Capital truly values their customers, and it shows in everything they do. As small businesses grow and seek to accomplish their goals, getting the capital they need to fund important needs and milestones along the way is critical. This is where ReachOut Capital comes in.
As they state on their website, ReachOut Capital’s mission is “to empower every business to succeed by providing the best financing options – when they need it and how they need it.” ReachOut’s goal with each and every client is to support their individual needs and provide the critical financial component needed in a convenient and cost-efficient manner.
Electronic Signature Usage Before eSign Genie
Prior to discovering eSign Genie, ReachOut Capital was already using electronic signatures as part of their sales and paperwork processes. In fact, this particular client had already previously used two other electronic signature software solutions.
In the financial industry, obtaining quick and reliable signatures is an essential part of completing transactions. What many financial companies are finding, however, is that electronic signatures are also an important component to ensuring compliance with industry mandates. In ReachOut Capital’s particular situation, none of the lenders they work with will accept any invoicing, financing, or lending paperwork unless the application is signed electronically.
Why eSign Genie Was Approached by ReachOut Capital
When eSign Genie was initially approached, ReachOut Capital was continuing with its steady growth in the financial industry, but they were finding themselves frustrated with their current eSignature providers. Steep costs proved ineffective for reasonable budget maintenance, poor customer service was counterproductive, and the software itself felt limiting.
Randy Webster, Senior Underwriter with ReachOut Capital, made the first initial contact with eSign Genie. Randy had been dealing with repeated frustration and headache for over a year and a half with the two previous providers and was ready for a change. In discussions with our sales team, it was relayed that ReachOut Capital required certain functionality and accommodation for successful electronic signature utilization:
Finding a more cost-efficient and budget-friendly solution for document signing and sending was a top priority.
Improved Customer Support:
There was an immediate need for more responsive, supportive, and insightful customer support that could help improve the overall experience and usage of the eSignature software.
Not only was ReachOut looking for a more robust and capable eSignature solution, but they also needed one that was tailor-made to support fast and easy usage at a moment’s notice.
Compliance with regulatory requirements is an important component in the financial industry. For this reason, ReachOut Capital sought a solution that could help them easily maintain compliance without further complication.
Why ReachOut Made the Switch to eSign Genie
The ability to provide a superior electronic signature solution at a lower price point than their current and previous electronic signature providers
Top Rated Customer Service:
Having easy access to a team of specialists ready to support and offer guidance whenever needed
As with any new software, there was an expected learning curve while Randy and his team learned about all that eSign Genie had to offer. But the team of eSign Genie experts dove right in and ensured that ReachOut Capital was set up to successfully implement the new electronic signature solution into their day-to-day business needs.
When Asked About ReachOut Capital’s Overall Satisfaction with eSign Genie
“eSign Genie has been a total solution for all my e-signing needs. Since I’m in the financial industry many of my documents need to be signed. Allowing our clients to sign online without printing , scanning, faxing or emailing anything is a game changer. There are many options out there for eSigning and I’ve used several. However, eSign Genie has the best software, the best customer support I’ve ever seen (Lisa is who helps me most of the time and she is AMAZING) and all at a price that is a fraction of the competition.” Randy Webster, Senior Underwriter, ReachOut Capital
How eSign Genie Has Helped
After all was said and done, in the words of Randy Webster, eSign Genie has proved to be a “total solution for all of my e-signing needs.”
Since the implementation of eSign Genie’s electronic signature solution, ReachOut Capital has experienced notable benefits, such as:
Notable cost savings
Notable cost savings of 75% have been experienced by ReachOut Capital following implementation of eSign Genie’s eSignature software, as compared to significantly higher document spending with previous electronic signatures solutions.
Supportive and Accessible Customer Service
Supportive and accessible customer service is reported by ReachOut as being a top feature offered by eSign Genie. As assistance was needed, ReachOut was able to quickly schedule meetings to resolve problems and continue moving forward at the pace they required while ensuring their software utilization was maximized.
Enhanced software features
Enhanced software features quickly became an important commodity for ReachOut. Previous eSignature providers left ReachOut feeling somewhat limited as their document needs grew and changed. Features like conditional fields and multiple signing options have allowed ReachOut the flexibility they truly needed with an electronic signature software.
Improved ROI and document sharing experience
Improved ROI and document sharing experience proved to be a crucial element to ReachOut successfully implementing eSign Genie into their process. As stated by Randy, “Creating a document that is easy for a client to understand and complete is a game changer. We are already experiencing a higher document completion rate triple the amount of when we were with previous solutions”.
Efficiently Supported Regulatory Compliance
Efficiently supported regulatory compliance has always been a priority for ReachOut Capital as they are in the financial industry. eSign Genie effectively supported their compliance needs through stringent security practices, including signature certificates, detailed audit histories, SOC 2 Type 2 compliance, and efficient visibility controls.
As ReachOut Capital continues to expand and grow their company and services, having the flexibility of the right electronic signature solution that can grow alongside them is key. eSign Genie intends to support ReachOut Capital through efforts such as:
Ensuring the most cost-efficient pricing
Ensuring the most cost-efficient pricing is continuously and fluidly provided in order to support ReachOut’s expanding document needs while maintaining budget needs.
Enhancing signature software
Enhancing signature software use as new needs arise and providing a continuously expanding Knowledge Base with helpful support documentation and continued training.