As digitization continues to transform the workplace and working remotely is more commonplace, contract management professionals in a myriad of industries need the right digital tools to keep contract management, procurement, and sourcing operations running smoothly. Read on to learn how IntelliSign® electronic signatures within CobbleStone Contract Insight® contract management software, can streamline your contract collaboration and signing processes in the office and on the go.
What Is an Electronic Signature?
An electronic signature is a signature that is signed electronically by an acknowledged counterparty that can be legally binding. E-signature software is a vital contract lifecycle management tool that can make signing contracts a breeze by empowering you to sign in the office or on the go - with the proper electronic device and adequate internet access.
What Makes an eSignature Legal?
An e-signature is legal since the Electronic Signatures in Global and National Commerce Act – AKA the E-Sign Act - was signed into USA law in 2020. E-signatures constitute a legally enforceable form of signing that represents signer intent. Advanced eSignature software provides digital signing functionality that seals signatures with their dates and times of signing for increased security.
Faster Signing With eSignatures
With CobbleStone Contract Insight’s E-Sign Now option, system users can quickly add their signature to a saved document. Users can also add other desired PDF and MS Word attachments documents (and other file formats) directly from the document toolbox. CobbleStone Contract Insight users have access to their saved e-signatures and can utilize IntelliSign’s diversified pool of placeholder options, which include:
- Inserting a saved, typed, or drawn signature.
- Inserting a date.
- Signing with initials.
- Adding additional text to signatures.
- Using a previously saved title.
The signer can save and attach signed documents to their corresponding records – promoting a swift, organized signing process in or out of the office.
Easy One-Off Signatures
CobbleStone’s IntelliSign enables users to easily email a document for one-off signatures. CobbleStone Contract Insight users have the option to allow signees to pick their signature location within the document, or users can set a multitude of placeholders to indicate where signatures, initials, and dates are required.
Once a document is sent out for signing, the signer can receive an email that directs them to the Document Collaboration Portal for e-signing. This user-friendly portal supports online contract negotiation between internal and external parties via a secure online location that can track changes and accelerate the signing process. Furthermore, CobbleStone users can configure terms and conditions for signing, consequently prompting the signer to acknowledge and accept the terms before applying signatures.
Upon signing completion, CobbleStone Contract Insight can send email notifications to respective individuals and reattach documents to the allocated record within the system. The signer can also view and download signed and completed documents from the document collaboration portal. Third-party signing is available remotely or in-office, and the CobbleStone Contract Insight mobile app, available for iOS and Android devices - can expand IntelliSign e-signing flexibility on the go.
Rules-Based eSignature Process
Using IntelliSign's document collaboration module, authorized users can configure e-signature processes based on contract type, amount, department, location, entity, or other variables. System administrators can designate if a contract requires a formal approval process before signing or one-off signing. Workflow can facilitate individual participant signing or implement a complex signing process.
CobbleStone Contract Insight users can establish signature groups for a particular signature process. Participants in a signature group can include internal users, internal groups, or external contacts - including vendors and clients. Additionally, authorized users can configure reminders for signers when creating signature groups. They can specify the number of days before sending the first signing reminder, as well as the frequency and timing of subsequent alerts.
For example, if you want to configure your electronic signature process so that your CEO or a specific group is only assigned if a contract is at or above a certain contract value, you can set that rule within CobbleStone Contract Insight. Rules can be granular or broad, and an immense number of rules may be set for a particular group or process. Rules can be based on CobbleStone Contract Insight fields, whether out-of-the-box or user-defined - in various configurations.
As a document travels through the signing process, e-signature dates are time-stamped for a detailed audit trail. Once the signing process is complete, the fully signed document can be attached to the record. These rules-based, intelligent processes can transpire even more quickly when involved parties are equipped with multi-device, online access. Thus, CobbleStone Contract Insight users are encouraged to download the free CobbleStone Contract Insight mobile app from the App Store or Google Play.
Transform Document Signing with IntelliSign
Now that you know the ranging benefits IntelliSign can offer, it’s time to take control of your organization’s signing process with CobbleStone’s industry-leading eSignature software. To see IntelliSign eSignature software in action, book your free demo.
CobbleStone's trusted, award-winning, fully integrated contract management software streamlines the contract management process with optimal governance, reduced friction, and high flexibility from contract requests to renewals. CobbleStone has been a leader in CLM software for over twenty years and is trusted by thousands of contract managers. CobbleStone's user-friendly, robust, and scalable solution seamlessly connects with external applications, including MS Word and MS Outlook, for unified and seamless contract management. It's no wonder why Forrester names CobbleStone a Leader in CLM software!
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This article was originally published on March 19th, 2020, and was last updated on February 14th, 2022.
*Legal Disclaimer: This article is not legal advice. The content of this article is for general informational and educational purposes only. The information on this website may not present the most up-to-date legal information. Readers should contact their attorney for legal advice regarding any particular legal matter.