BATON ROUGE, La., May 07, 2021 (GLOBE NEWSWIRE) — Formsio is a web-based document automation software that helps paper-intensive industries streamline processes, reduce time to complete paperwork, and improve customer experience.
For years, electronic signature solutions have failed to tackle one of the biggest problems companies face while digitizing their paperwork: Eliminate the dependency on files such as PDF or Word Documents from their technology stack. Formsio re-envisions paperwork starting as an HTML document that is dynamically generated in real time. This is a very important distinction that differentiates Formsio.
Who Needs It: Industries that utilize template-based documents that require signatures, consume large data sets, often have calculation dependencies, and require bulk distribution to their customers, contractors, and employees. We see the most interest for our solutions within industries such as legal, lending, compliance, HR, real estate, and insurance.
Core Features: Formsio has 6 core components that provide end-to-end document automation.
• HTML Document Designer
• Integrated Data Management
• Digital Signatures
• Calculation Engine
• Image Library
• Workflow Management
Why Now: Companies that have adopted electronic signature software are still faced with many challenges. Most signature solutions wrap their services around PDF or DOC files. PDF files are static by design and have major limitations while the document is being filled and signed. DOC files are much more dynamic; however, they often require complex integrations with other systems for automating the assembly, distribution, and signature processes.
Even with all the options available for electronic signature software, there are still companies that manage document transactions by emailing PDF and DOC files to recipients. These file attachments need to be directly filled, printed, signed, scanned, and sent back to the company sender. This is a very time-consuming task that creates a poor user experience. In addition, the company will often spend significant time processing the file attachment once it is received, including data extraction, data entry, and adding the attachment to a document management software.
In summary: There is no denying the demand for paperless solutions, especially with remote workforces in today’s COVID environment. Formsio helps companies eliminate inefficiencies while completing paperwork. With Formsio, companies will lower the risks associated with data entry errors, lost documents, and gain insight into their document processes.
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