7 Ways DocuSign Transaction Rooms Help Companies Save Time and Money

DOCUSIGN and broker/agent/consumer benefits

In a DocuSign Transaction Room, multiple parties can come together in real time to draft, view, and share documents, helping make transactions faster and easier for everyone.
Established in 2003, DocuSign provides eSignature and secure, cloud-based Digital Transaction Management services to more than 85 million users around the world. Hundreds of thousands of businesses rely on DocuSign’s easy-to-understand, seamless interfaces for closing real estate transactions and other legal agreements, fast-tracking employee onboarding, and streamlining business negotiations — and much more.
With the creation of DocuSign Transaction Rooms, this process of “getting to yes” on a contract or agreement becomes far simpler than meeting in an office, even when a large number of documents are involved.

Today, it is becoming more and more difficult to assemble all parties to a transaction together in the same physical space. They may be in different locations and time zones, or constantly multitasking and on the move. But in a virtual Transaction Room, they all have access to the same set of documents for review. Within this secure space, they can see the entire history of shared projects, and make individual comments seen by all other parties.
Financial services and real estate companies are among the types of businesses that can particularly benefit from Transaction Rooms. The following are just a few of the advantages that come with using a DocuSign Transaction Room for clients in these and related fields:

1. Finance and real estate professionals who still work in non-digital environments may be plagued by inefficiencies that can waste time, cool customer interest, require lengthy re-working of documents, and cut into profits.
Setting up customer accounts, managing investments, and creating commercial lending documents are only a few of the transactions financial companies deal with daily. These are also among the transactions for which customers have developed high expectations in regard to customer service, so providers cannot afford to waste time and energy dealing with paper-based documents. Likewise, for realtors, leasing and property management contracts, title transfers, and other sensitive transactions can be completed more smoothly in a Transaction Room.

With DocuSign Transaction Rooms, client companies can offer their customers 24-hour-a-day visibility of all documents associated with a transaction. The fact that changes are recorded at each step of document creation and editing provides transparency and accountability. And because documents are created and stored digitally, the possibility of introducing errors decreases, since staff aren’t required to re-key the same information over and over again, or to retrieve information from a paper filing system.
Major financial services corporations working at the international level, such as Deutsche Bank, have publicly recognized DocuSign as a leader in its industry in terms of service quality, legal enforceability, and security.

2. DocuSign Transaction Rooms are never down for maintenance, and information flow remains the same regardless of demand on the system.

3. DocuSign Transaction Rooms work seamlessly with the company’s eSignature products, streamlining the process even further.

4. Financial professionals in particular understand that time is — quite literally — money. In a DocuSign Transaction Room, a transaction doesn’t have to grind to a halt just because of a new addendum or a change in wording. The Transaction Room’s secure digital environment simplifies the many intricacies of managing the many supporting documents handled by numerous parties in a paper-based environment.
DocuSign Transaction Rooms allow companies to speed up the agreement process and reach “yes” faster and more efficiently, helping to create a winning outcome for all parties to a transaction.

5. Transparency is of the utmost importance in any financial transaction or real estate contract. DocuSign Transaction Rooms provide clients with the ability to control the flow of information from start to finish of a transaction. Users can also assign varying levels of access to designated parties while maintaining the clear audit trails that are necessary for regulatory compliance.

All participants in a Transaction Room can only gain access by passing pre-set protocols. At the point of signing, DocuSign ensures that eSignatures are subject to additional authentication measures.

6. Security is also a non-negotiable in financial and real estate matters. Documents retained in a Transaction Room are encrypted according to the highest standards in the Digital Transaction Management industry — the same types of security measures used by major banks. These standards are also aligned with stringent new regulations passed by the United States and the European Union.

7. DocuSign Transaction Rooms help companies provide a more satisfactory experience for their own customers over the span of a transaction. Previously complicated and cumbersome processes become simplified at the click of a mouse when customers receive an email notification that leads them directly to DocuSign’s customized, task-focused pre-signing page and a full listing of all the items they need to inspect and sign. In addition, companies can use Transaction Rooms to better manage client documents, which can remain available over the entire lifetime of the customer relationship.
For more information, the DocuSign website offers videos and on-demand webinars that explain how Transaction Rooms can benefit buyers, sellers, vendors, and professionals across a wide range of industries.
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by Keith Krach
Chairman of @DocuSign