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Escrow of the West DocuSign case study


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Escrow of the West is a leading independent escrow service. They process more than 26,000 escrow documents each year. They have been able to expedite the signing process and reduce legal risk because documents are always returned completed.

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Escrow of the West DocuSign case study

  1. 1. Share: About DocuSign DocuSign® is the global standard for electronic signature® . DocuSign accelerates transactions to increase speed to results, reduce costs, and delight customers with the easiest, fastest, most secure global network for sending, signing, tracking, and storing documents in the cloud. For U.S. inquiries: toll free 866.219.4318 | For European inquiries: free phone +44 (0) 800 098 8113 | Copyright © 2003-2012 DocuSign, Inc. All rights reserved. DocuSign, the DocuSign logo, “Close it in the Cloud”, SecureFields, Stick-eTabs, PowerForms, “The fastest way to get a signature”, The No-Paper logo, Smart Envelopes, SmartNav, “DocuSign It!”, “The World Works Better with DocuSign” and ForceFields are trademarks or registered trademarks of DocuSign, Inc. in the United States and or other countries. All other trademarks and registered trademarks are the property of their respective holders. Follow Us: Escrow of the West is a leading independent, full-service escrow company serving the greater Los Angeles area. With offices in Beverly Hills, Sherman Oaks and Warner Center (Woodland Hills), Escrow of the West (EOTW) is a leader in the real estate owned (REO) escrow market and transacts thousands of escrow documents annually. The company reduced costs and increased customer satisfaction by switching to electronic signatures with DocuSign. “We’ve received rave reviews as to how simple and fast the DocuSign signing process is in comparison to slow paper transactions.” Galit Ofengart President/Principal Escrow of the West Challenge Escrow of the West processes more than 26,000 escrow documents each year. Thousands of documents are printed and mailed for initials, signatures and other pertinent information. If an initial is missed or signature overlooked, the document must be returned to the signer and the process starts all over again, creating delays and frustration. EOTW wanted to automate transaction workflows and eliminate incomplete documents, thereby expediting the signing process. Solution With the popularity of the DocuSign electronic signature service in Southern California, EOTW looked to DocuSign first and was impressed. Upon launching the DocuSign electronic signature solution, EOTW started seeing immediate, positive results. Results Now with DocuSign, EOTW quickly tags all escrow documents for signature. Clients receive an email notification, and are quickly authenticated and navigated through the document signing process. The entire transaction takes minutes to complete from any Internet- connected device, compared to hours with manual signatures.EOTW expedites document signing time and reduces legal risk as documents are always returned completed. Plus, the company has significantly reduced its carbon footprint. Feedback from real estate agents has been very positive as well, particularly with regards to how little time it now takes to process documents. Joanna Jessy Jimenez, a certified foreclosure/shortsale specialist with Prudential California, reported that it usually took two to five days to get forms signed, but now “with DocuSign, it takes just minutes right from a smart phone.” EOTW also sees more on-time closes using DocuSign, and Kristin Resteghini of L.A. City Lofts “…loves that Escrow of the West has DocuSign. It is so much easier for us and our clients, too. Now paperwork is returned much faster, is accurate and legible which helps deals close on time.” Real estate agents who already use DocuSign appreciate that they are able to keep even more of the process digital when working with Escrow of the West. Stephen Shapiro, chairman of Westside Estates Agency uses DocuSign in his business and is “excited to be able to have escrows processed through such a wonderful service.” Summary • Reduced document signing process from days to minutes • Increased customer satisfaction as documents are easy to complete • Eliminated returning documents for a missing signature or information • Reduced expenses by eliminating paper and postage Escrow of the West Provides DocuSign Technology to Its Clientele CASE STUDY