November 6, 2007

Leading Financial Services Company DebtXS Dramatically Increases
Sales Closure Rate By Using eSignature Service From DocuSign

 

DebtXS simply tells customers to ‘follow the yellow-click road’ to electronically sign documents and contracts; reduces sales closure time by 98 percent

SEATTLE, WA (November 6, 2007) –DocuSign, the leading Web-based electronic signature service, today announced that DebtXS, a leading financial services company that helps people with debt settlement options and services, has dramatically raised its sales closure rate from 35 percent to more than 75 percent by using DocuSign’s eSignature service. In addition the company has dramatically reduced the time it takes to secure signed contracts and documents from an average of 12 to 14 days down to an average of only five hours, a decrease of over 98 percent. Instead of using cumbersome and expensive paper-based mail/fax processes to obtain signed sales agreements, DebtXS now uses DocuSign to secure electronically signed sales agreements. DebtXS was able to easily integrate DocuSign into its existing CRM solution from Xware, which dramatically streamlined the document-closing process for DebtXS’ sales representatives.

“When we started using DocuSign, great things started happening to our business,” said Paul Boyd, Executive Vice President, DebtXS. ”Our contract return rate doubled almost overnight, and it was like magic had been injected into our sales force. The DocuSign eSignature service alerts customers where to sign or initial using electronic yellow sticky tabs, so we find ourselves simply telling our customers to ‘follow the yellow-click road.’ Quite frankly, I can’t imagine an easier solution to use, both from a user perspective and integration perspective, than DocuSign.”

For a financial services company like DebtXS that serves more than 11,000 clients, time is of the essence when closing deals. In the past, customers would speak with a DebtXS representative to discuss their financial situation, The representative would then mail, courier or fax sales agreements to the customer, who was then burdened with having to receive, review, sign and return the paper documents – without missing any signatures or initials, since any errors or omissions void the contract. In addition, in the time it took the documents to arrive, the customer could easily examine alternate options – which meant that, even after all that legwork, DebtXS might lose the customer to a competitor. This lengthy process was proving to be a challenge for DebtXS, and the company looked for other options to drive higher sales close rates and better, more responsive customer service. After examining a wide variety of solutions, DebtXS selected DocuSign to improve its entire sales-closing process.

“With so much competition going on in our business, it’s important for us to be as efficient and productive as possible, and part of that involves examining ways to streamline our document-closing process,” said Boyd. “We examined multiple options, but found that we could never get a straight answer out of other vendors regarding price, integration and security. In DocuSign, we found an enterprise-class solution that did not disrupt our existing procedures, was very cost-effective and easy to use for both our team and our customers.”

Said Matthew J. Schiltz, CEO and President of DocuSign: “DebtXS is one of a growing number of e-commerce and financial service companies that have found immediate and tangible benefits by using our electronic signature service. Not only has DebtXS closed deals in record time using DocuSign and locked out the competition, but it has improved customer service by simplifying what used to be a very time-consuming and frustrating process. By incorporating our advanced service, DebtXS has clearly positioned itself as an industry leader.”

About DocuSign
DocuSign offers a Web-based electronic signature service that provides the simplicity, speed and security required to electronically sign and store documents. Designed from the ground up for enterprise-class usage, this service integrates the technical infrastructure and legal compliance needed to operate an end-to-end electronic signing service that replaces the old pen-and-paper process. DocuSign customers span a variety of industries and range from the largest corporations to the smallest branch offices. These customers trust DocuSign to help them increase revenue and sales close rates, decrease costs and accelerate business velocity. DocuSign also offers a direct, positive impact on our global environment by reducing paper consumption and transportation emissions. For more information please visit www.docusign.com. DocuSign and the DocuSign logo are registered trademarks of DocuSign, Inc.

About DebtXS™
DebtXS is a recognized leader in the debt settlement/negotiation industry and was recently ranked number 17 on Entrepreneur magazine’s Hot 100 list of the fastest-growing companies in the United States. DebtXS was founded by Ken Talbert in 2002 after identifying a need for company that would empower consumers, with honorable alternatives to bankruptcy, through the personalized and proven services of debt negotiation. DebtXS has grown exponentially and now has more than 150 employees, serving more than 12,000 clients and settling more than $2.5 million in consumer debt each month.

As the industry grows and matures, a steadfast approach will make certain that settlement/negotiation becomes a permanent option for the consumer who is burdened with consumer debt and is facing financial hardship. DebtXS actively works with USOBA and other organizations to promote the debt settlement/negotiation industry, as well as to draft new standards and legislation to help consumers.