Box launches native e-signature functionality for businesses
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Cloud storage and content collaboration company Box officially expanded to electronic signatures with the launch of Box Sign.
The launch comes six months after Box acquired Dutch e-signature startup SignRequest in a deal worth $ 55 million. Until now, Box has offered electronic signature functionality through third-party integrations like DocuSign and HelloSign, but taking SignRequest under its wing has signaled the company’s intention to offer native support directly into Box. This is what is launched today.
Sign of the times
Remote working seems here to stay for millions of people, and digital transformation has been the key phrase of 2021, creating fertile ground for the development of cloud-based technologies. After all, why fax or mail documents or travel halfway around the world to sign a contract when you can do it all entirely online in an instant?
This shift has been mirrored across industries, with spending on digital identity verification exploding as businesses embrace remote integration. And notarization, which requires trained staff to assist with signatures involving high-stakes legal documents, has also had to move into the virtual sphere, with leading provider Notarize recently securing $ 130 million in funding from big names, including Alphabet’s CapitalG.
Today’s rollout of Box is also part of a larger shift towards a truly paperless desktop, which has spanned decades.
“Every day more and more transactions are moving from manual paper-based workflows to the cloud, and we will only see this trend accelerate as businesses move to a hybrid work environment,” said Diego Dugatkin, chief executive officer. Box product, in a press release.
Box Sign can be used to send an unlimited number of documents from the Box web application, with the ability to request signatures from anyone, even if they are not using Box. It supports four standard fields: date, checkbox, text, and the signature itself.
Other notable features include templates for common processes such as NDAs; email reminders and deadline notifications; serial and parallel document routing so that multiple users can electronically sign a document simultaneously or sequentially; and real-time electronic signature tracking for company administrators.
Box Sign is available starting today at no additional cost to a “subset” of customers benefiting from the company’s premium business and enterprise plans, and it will be rolled out more widely later this year.
It should be noted that Enterprise plan subscribers will have access to additional features including the ability to include attachments for signers or senders to review and bulk actions i.e. l ‘sending individual signature requests to a larger group of recipients. Box also launched a new Enterprise Plus plan today, which will include “additional” features, including all major add-ons that were not available as part of a monthly subscription until now, such as its Box Shield automatic malware detection tool. In terms of electronic signatures, the Enterprise Plus plan will include the ability to send documents for signature directly from Salesforce, with which Box has been deeply integrated for several years now. Box Sign will also eventually be made available to paid Starter plan subscribers, but with limited functionality.
In other words, the electronic signature feature could help Box attract paying customers to higher value plans.
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