Complete Your Payment Cycle in Minutes, Not Weeks
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Did you know that Ariba members can now easily send contracts out for e-signature from Ariba Contract Management? Join Conrad Smith, the Senior Director Global Procurement for Adobe Systems, in this session to learn how Adobe Procurement uses e-signatures to improve workflows and make manual processes a thing of the past. Attendees will learn how to reduce the timeline for payment completions from weeks to minutes, eliminate paper-based workflows, improve data quality and security, and track document status with Adobe EchoSign. Conrad will give you real world results and show you how you too can close that last paper mile. Learn more about Ariba LIVE at http://spr.ly/LIVE2014LV-d
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Complete Your Payment Cycle in Minutes, Not Weeks
- 1. Adobe EchoSign Complete Your Payment Cycle in Minutes, Not Weeks Conrad Smith | Sr. Director Global Procurement, Corporate Accounting © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential.
- 2. About Adobe $4B+ revenue 2 ADBE (NASDAQ) © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential. Global leader in digital marketing and digital media solutions 11,000+ employees
- 3. About Adobe Global Procurement Our quarterly contract average is: © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential. 3 1,366 contracts (North America) 165 contracts (International) 85% of non-revenue generating contracts handled by Procurement
- 4. Procurement Roadblocks Prior to E-Signatures Approvers have to be in the office to sign Lost or illegible contracts Manual routing and piles of paper Poor tracking and reporting © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential. 4
- 5. Opportunity of Going Digital in Procurement 98% U.S. companies still use paper in contracts 67% Agree that paper-based contracts are prone to potential defacing 70% Agree that contracts are more efficient when sent & signed digitally (Source: Adobe Research, 3/2013) © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential.
- 6. Is it Legal? © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential. 6
- 7. Get Business Moving in the eSignature Fast Lane © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential. 7
- 8. Adobe’s Results: Faster Contract Completion Contracts completed in 1-2 days vs. 2-3 weeks 1IDC White Paper, sponsored by Adobe, Bridging the Information Worker Productivity Gap: New Challenges and Opportunities for IT, September 2012. © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential. 8
- 9. Adobe’s Results: Reduced Costs 80% reduction in paper and supplies 1IDC White Paper, sponsored by Adobe, Bridging the Information Worker Productivity Gap: New Challenges and Opportunities for IT, September 2012. © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential. 9
- 10. Adobe’s Results: Improved Controls Detailed audit information and compliance copies of every signed document 1IDC White Paper, sponsored by Adobe, Bridging the Information Worker Productivity Gap: New Challenges and Opportunities for IT, September 2012. © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential. 10
- 11. Choosing an eSignature Solution X X Secure & compliant Easy to deploy & use X Reliable & proven X Trusted provider © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential. 11
- 12. Secure, Reliable and Compliant © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential. 12
- 13. EchoSign Integrations EchoSign API © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential. 13
- 14. Introducing Adobe EchoSign for Ariba © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential. 14
- 15. Trusted by Banks, Healthcare Providers, and the Fortune 1000 © 2014 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential. 15
Notas do Editor
- Hello, I am Conrad Smith, from Adobe’s Global Procurement organization. [Conrad, please feel free to add more of your background to introduce yourself. E.g. How long have you been with Adobe and in Procurement? What is your team’s responsibility? Etc.]I’m here today to share my story with you, as a procurement professional, on how Adobe was able to use an e-signature solution to accelerate the overall procurement process. This is not a sales pitch. Instead, consider the content in this session as a recipe for considering such a solution for your organization. In the next 30-40 minutes, I’m going to cover the challenges we had with the traditional way of managing contract signing within a procurement organization, the process for implementing e-signatures, and the results that we’ve seen. We will then share a demo of Adobe EchoSign, integrated as a part of the Ariba system. I’d like to make this an interactive session, so please feel free to ask questions along the way.TRANSITION: Before I talk about the specific problems that we had with our previous process, I’d like to give you some background context around the company and my organization.[next slide]
- Adobe is a publicly traded company that is one of the largest software providers in the world with revenues of more than $4B and more than 11,000 employees. Founded in 1982, we are the global leader in digital marketing and digital media solutions. Our tools and services allow our customers to create engaging digital content, deploy it across media and devices, measure and optimize it over time, and achieve greater business success. We help our customers make, manage, measure, and monetize their content across every channel and screen.TRANSITION: From a procurement prospective….[next slide]
- …this translates to a quarterly contract average of almost 1,500 contracts/quarter. The majority of those are in North America, but we also provide support to international offices. Additionally, 85% of the non-revenue generating contracts within the overall company are handled by my organization.Although Adobe had a contract management system in place, parts of the process were still manual and paper-based. Specifically, we still had a wet signature process for executing contracts.TRANSITION: This raised a number of challenges. You might be able to identify with some of these….[next slide]
- First, approvers have to be in the office to sign. If they were offsite or traveling, this added to the time to get the contract finalized. Sometimes, the paperwork would get lost or we wouldn’t get the entire set of papers, so they would have to be faxed or mailed again. Delays in getting POs turned around affected the timeliness of payments to vendors, a source of frustration for them. This back-and-forth with paper was a productivity drain for all. In my organization, we had 2-3 people who’s job was simply to chase down paper. Plus, it was expensive based on the cost of paper storage, printing supplies, and postage.Another big issue occurred when we got contracts back via fax. The quality of the fax could be so bad that they would be completely unreadable. Or, after the signed contract got re-scanned back into our Contract Management System, the scans could make them illegible in the system. Having an unreadable contract as the document of record creates tremendous risk for the organization. If there was ever a dispute between us and the vendor, we would only have an illegible contract to go on.Finally, there was no visibility or into the signature process. When did the contract get sent? Had the approver looked at the contract? If multiple signers were involved, who had signed and who was remaining? Without this insight, there was no way to drive appropriate follow-up with vendors to push the process. TRANSITION: Enabling agility for Adobe’s business was impossible using such an old-fashioned process. [next slide]
- However this situation is a very common one. In a survey that we did last year, we found that 98% of US companies still use paper in their contracting process. This is in spite of the fact that two-thirds of respondents agree that paper is less secure and 70% of those surveyed agree that there are material efficiency gains. Our research around the costs of using a paper-based contracting process shows that:The average document filing cost is $20 per documentLarge organizations lose a paper document every 12 secondsBy removing these roadblocks, our procurement organization could be more agile and responsive to the business overall.TRANSITION: But the first question that often arises for anyone who is on this path is “Is it Legal?”[next slide]
- The answer is yes. E-signatures are legal and enforceable in over 30 countries—including Australia, Canada, the United Kingdom, and the United States. In fact, electronic signatures have been legal in the U.S. for over a decade.As a company, the days of 80% of having our suppliers residing solely in the US are over. We are getting more and more global in the way we are selling and working. We employ legal teams on six continents to stay current on the policies and legality of e-signatures around the world. Today, we e-sign contracts internationally. If anyone would like more documentation on the legal aspect, please email me and I will send you all the information needed. TRANSITION: So what does it mean to move the business of procurement into the fast lane? [Next slide]More Detail on global regulationsUnited Kingdom, Electronic Communications Act 1999European Union, 1999/93/EC Directive.Canada, Uniform Electronic Commerce Act, UECA (30/09/1999) and PIPEDA, Canada’s federal privacy law of 13/04/2000 provides organizations with the ability to use electronic signatures.Australian Federal Parliament, the Electronic Transactions Act 1999United States, the ESIGN Act of 2000
- I would describe it in three ways.First, it can’t be a disruptive change. As I had mentioned, we already had a contract management system in place. We needed the e-signature solution to integrate into that system quickly and seamlessly, so documents never had to leave that system again. Documents go out to vendors from the system and then they are automatically returned back into it.Second, the solution had to be intuitive for the Adobe staff as well as for vendors. We didn’t want anyone, internally or externally, to have to learn a new system.Third, we needed a dashboard that could provide us with a view into where documents were at any given stage in the process. My staff could then engage at the right time and in the right way.TRANSITION: We made the transition to Adobe EchoSign in late spring of 2012. Let me show your our results.[next slide]
- The direct benefits that the Adobe Procurement organization has received based on our implementation of Adobe EchoSign has been transformative. Our contract completion cycle is reduced by 73%: going from 2-3 weeks to 1-2 days. 79% of contracts are completed in 7 days or less. Plus, there was a 70% increase in contract completion.From our vendors’ perspective, they loved how much more efficient this process was and they were getting paid faster too.TRANSITION: We also were able to save money….[next slide]
- With paper and supplies, and reduce costs to our department by 80%. This contributed to the company’s overall sustainability initiatives.TRANSITION: Finally, we improved controls…..[next slide]
- And reduced risk with detailed audit information recorded automatically by the system and a searchable archive of every signed document. And, all of them are fully legible!TRANSITION: If you are starting to think about an e-signature solution….[next slide]
- here are some of the questions that I would ask of any vendor:Is the system secure and compliant with regulations that specifically affect your business?Is it easy to deploy and integrate with your existing or planned systems? Can you get staff and vendors or suppliers up and running without a lot of training?What is their track record with customers?Is it a trusted provider? Will they be around to grow with your business?TRANSITION: Here’s how Adobe EchoSign uniquely addresses each of these areas.[next slide]
- When choosing an eSignature solution, security, reliability and compliance are paramount. Our customers include large financial institutions and healthcare companies that have chosen Adobe because we meet their most stringent requirements. For example:Adobe uses the same technologies and security engineering processes relied on by financial institutions and governments around the world. Security is considered at every level—from the application code and networks to the physical facilities. Our servers are housed in protected SSAE 16 Type II Service SOC 2 data centers with redundant power and Internet connectivity. We put the service through regular penetration tests and security assessments by third parties, as well as internal resources. We use state-of-the-art, geographically-dispersed data centers to provide data redundancy and availability.EchoSign is compliant with the Gramm-Leach-Bliley Act, which banks and financial institutions must comply with, as well as HIPAA and PCI compliant.TRANSITION: For integration into current or planned systems….[Next slide]ADDITIONAL DETAIL TO ANSWER SPECIFIC CUSTOMER QUESTIONSCompliance - EchoSign customers face a multitude of compliance issues. Banks and financial institutions must comply with the Gramm-Leach-Bliley Act, healthcare provides must comply with the Health Insurance Portability and Accountability Act and the payment card industry must comply with the Payment Card Industry Data Security Standards. EchoSign’s rigorous security practices help to ensure its customers comply with these standards. Adobe EchoSign complies with the Gramm-Leach-Bliley Act (GLBA). Explanation:GLBA was enacted to regulate the financial privacy of consumers of financial institutions. GLBA requires financial institutions to protect against threats to the security, confidentiality and integrity of their customer’s personal information. As part of these regulations, financial institutions must retain service providers who also comply with GLBA. EchoSign’s financial institution customers can rely on it to implement and maintain appropriate safeguards in compliance with GLBA.HIPAA is the Health Insurance Portability and Accountability Act. HIPAA places stringent requirements on healthcare providers (also called Covered Entities) to protect sensitive health information. In order to stay compliant, companies must only work with HIPAA-compliant service providers and have a Business Associate Agreement (BAA) in place with those service providers. EchoSign supports HIPAA’s stringent privacy and security requirements to protect this sensitive data and its BAA meets all HIPAA’s requirements. PCI DSS is the Payment Card Industry Data Security Standard. PCI DSS was created to ensure that companies that process, store or transmit credit card information secure and protect that information. To provide services to the payment card industry, companies must also certify compliance with PCI DSS. Adobe takes the security of credit card information seriously and is certified at level-2 of PCI DSS compliance.SecuritySSAE 16 Type II SOC 2—The Statement on Standards for Attestation Engagements (or SSAE) 16 measures the controls relevant to financial reporting. The Service Organizational Controls 2 (or SOC 2) measures the IT controls of security, availability, processing integrity, confidentiality, and privacy. Adobe EchoSign operations meet or exceed SSAE 16 Type II SOC 2 requirements and are audited annually.The U.S. – EU Safe Harbor Framework was written by the U.S. Department of Commerce to address the collection, use, and retention of personal data by European Union member countries and Switzerland. Adobe (in the United States) is certified to the Safe Harbor Framework and has created the Adobe Safe Harbor Privacy Policy to describe how we handle personal information in the European Economic Area (EEA) and Switzerland.
- Adobe EchoSign supports a broad range of enterprise systems to enable e-signing across an entire organization. Turnkey integrations are available for many CRM, document management, and ERP systems. And, our flexible APIs make it easy to integrate EchoSign into any system.For revenue-generating contracts, Adobe uses EchoSign with Salesforce.com with Apttus. If your organization is interested to get more information on that implementation, please let me know at the end of the session.TRANSITION:But today, we are pleased to introduce….
- the availability of EchoSign within Ariba’s on-demand solution.Samantha Brown, also from Adobe’s Global Procurement organization, will share a short demo of EchoSign working with Ariba. In this demo, she will show you how easy it is to send documents for signature and track the progress, right from within the Ariba system. Best of all, all that is required for implementation is an EchoSign licensing code, which a customer gets once they purchase EchoSign.TRANSITION: [Samantha Brown’s demo]
- Thank you for your time. Are there any additional questions that I can answer?END PRESENTATION