iChoosr made their contract management processes more efficient and secure with Trackado

iChoosr is on a mission to accelerate the energy transition to sustainable energy. They act as a marketplace that facilitates the purchase of solar panels, heat pumps and energy contracts for individuals and businesses by matching them with suppliers offering a competitive price. Operating globally in countries like the Netherlands, Belgium, UK, Japan, and the United States, iChoosr were dealing with a wide range of contracts stored in different places.

Challenges before Trackado

Before implementing Trackado, iChoosr faced challenges in managing contracts effectively. Marc Fielmich, Legal, Privacy and Security Officer at iChoosr, joined iChoosr just as they were transitioning to Trackado.

“Before switching to Trackado, we used a cloud solution where everyone would email contracts to people to be signed, get it back and then upload it to the cloud. Each department and each business line had their own files. The signed contracts were put in those files, which made it very difficult to find the right documents when we needed them.”

Initially, people were not very happy with the transition as they weren’t sure how the new processes would look like, but now everyone is on board and loves the simplicity of it, Marc explains.

Before opting for Trackado, iChoosr explored other alternatives as well. Marc says that Trackado offered a better price point than its competitors, but the main reason why they choose Trackado was because they offered “Limited users, unlimited contracts.” This approach suited iChoosr’s needs better, as they don’t need everyone to have access to contracts, but they need to be able to keep uploading contracts.

Streamlining processes and securing privacy

Since implementing Trackado, the experience has been very positive. Trackado has simplified the contract management process, providing a single point of access for signing and managing contracts.

iChoosr’s HR department utilizes Trackado for employee contracts, leveraging its efficiency in the signing and storage process. And as a privacy officer, Marc appreciates the ability to easily manage access permissions, ensuring that only authorized users can see certain documents.

“Trackado has a function where I, as administrator, can assign certain responsibilities, so users can only see certain files or links. When a contract is uploaded into Trackado, I assign it to a department and then give people access to certain departments, allowing them to only access documents in these departments.”

But their favorite feature, according to Marc, is the automatic reminders, helping them manage contract renewals and upgrades efficiently.

Impact on contract management

Trackado’s design has streamlined the contract management process in the entire organization, giving users a comprehensive overview of all contracts. Trackado’s features also contribute to protecting sensitive information by assigning access based on roles and responsibilities.

Marc recommends Trackado, emphasizing its unlimited contracts, centralized management, and user-friendliness. And he further highlights the great customer service provided by Trackado.

“Their customer support always responds really fast, listens to their customers and issues are fixed immediately. Whenever I suggest new features, they listen well and are willing to implement it.”

The user-friendly interface, unlimited contracts, customizable access permissions and the prompt responsiveness of Trackado’s customer service have made it a valuable tool for iChoosr.

Do you want to explore the ease of contract management? Try Trackado 30 days for free here.

The complete guide to e-signatures

You’ve probably noticed the growing number of activities and functions that are becoming digital, everything from finding a date for Friday night to closing business agreements, can now be done online. When it comes to businesses, some of their top priorities are efficiency, productivity, and data safety. So, it’s no surprise that electronic signatures, or e-signatures, have skyrocketed in popularity. Let’s make sure you have the knowledge to make the most out of your e-signatures.

In this guide we will explore the world of e-signatures, what they are, their benefits and how to use them effectively.

What are e-signatures?

Firstly, what do we actually mean when we say e-signatures? All signatures that are made electronically are e-signatures, but there are different types of e-signatures used in different scenarios. They’re called: basic e-signatures, digital and graphical.

  • Basic e-signatures encompass various forms, from scanned images to typed names, widely accepted for electronic consent.
  • Digital signatures are a specific type of e-signature that employ cryptographic techniques and digital certificates, offering heightened security and legal acceptance.
  • Graphic signatures are visual representations of handwritten signatures. They provide a personal touch but may lack cryptographic security.

An e-signature provides a secure and accurate identification method for the signatory to complete a seamless electronic transaction. They are a secure and legally recognized way to obtain consent or approval on electronic documents or forms, and a much more convenient and efficient way to sign documents.

An electronic signature can be as simple as a person’s typed name, an electronic image of their handwritten signature, or even a fingerprint or voiceprint in some cases. They are commonly used in less formal agreements, everyday business transactions, and any situation where a traditional handwritten signature was previously used. This ease of use and broad legal acceptance make electronic signatures a key tool in modern digital transactions, streamlining processes and eliminating the need for physical paperwork.

Global legal frameworks for e-signatures

E-signatures are governed by a multitude of legal acts and regulations worldwide. Examples include PIPEDA in Canada, UETA and the ESIGN Act Sec 106 in the US, eIDAS in the European Union, the Electronic Transactions Act 1999 in Australia, and the Electronic Communications Act 2000 in the UK.

When handling e-signatures from different regions with different regulations you need to be aware of the varying legal requirements, acceptance and recognition of electronic signatures in each jurisdiction, ensuring comprehensive compliance with local laws.

Key benefits of e-signatures

1. Time efficiency

E-signatures eliminate the need for physical presence, allowing parties to sign documents from anywhere, as long as there is an internet connection. This reduces the time required for document processing, sending and approval.

2. Cost savings

The traditional signing process involves printing, scanning and shipping documents, involves costs for paper, ink and postage. E-signatures eliminate these expenses and can save you a lot of money – especially if you’re dealing with documents with several hundred pages.

3. Enhanced security

As mentioned earlier, there are global legal frameworks ensuring the reliability of e-signatures, making them highly secure. Many e-signature solutions also provide audit trails, ensuring a transparent record of the signing process.

4. Easy accessibility

Signed documents can easily be stored in a secure place, while still being accessible to all parties involved. This facilitates structure and seamless collaboration, both between external parties and internally.

5. Environmental impact

Going paperless with e-signatures aligns with sustainability goals, reducing the environmental impact associated with paper production, shipping and waste.

How to use e-signatures effectively

How do you make sure you get the most out of your e-signatures? We got you.

1. Ensure compliance

Make sure your e-signature software is compliant with legal acts, such as UETA and eIDAS, and that it meets essential terms and conditions, including;

  • All parties involved must agree to the electronic signing of documents.
  • Electronic signatures are valid only when the signer has the intention to sign, and they should have the option to decline signature requests.
  • Signers should visibly mark or provide a statement on the electronic document, ensuring a clear connection to the signed document.
  • Whether through a name or a unique mark, the signature should clearly identify the person who signed the document.

2. Craft a clear policy

Develop a comprehensive e-signature policy aligned with regulations and legislation. Not having a policy in place increases the risk of not being compliant with e-signature processes, potentially rendering electronic records unsupported or, even worse, unenforceable. In your policy, you should clearly state its objectives, scope, and usage rules. Communicate the policy formally to all team members and customers, defining roles, secure storage and best practices.

3. Prioritize staff training

Provide training to ensure that all team members understand and follow e-signature processes correctly. This will help standardize how you use e-signatures across the organization. By regularly updating employees on the latest e-signature legislation and encouraging continuous learning you can provide quality transactions between you and your partners.

You can also provide training to stakeholders on how to use the chosen e-signature solution to further ensure a smooth transition.

4. Implement an audit trail

Audit trails collect and store information about the delivery and signing process for each record presented – an important role when the authenticity of an electronic signature is questioned. Ensure that your e-signature software offers an audit trail, capturing key information like timestamps, IP addresses, signer details and any document changes.

An audit trail will also act as proof in case of disputes, ensuring the authenticity and validity of electronic signatures.

5. Evaluate and measure success

Regularly evaluating the effectiveness of your e-signature solution involves assessing various aspects, such as the efficiency of the signing process, customer satisfaction, and any potential bottlenecks or areas for improvement. By doing so you can identify opportunities to improve the customer experience, streamline your e-sign workflows and address evolving needs or preferences.

E-signing with Trackado

In our mission to make contract management as smooth and simple as possible, we have incorporated an e-signing function into our software. It’s a seamless integration where the contracts are signed electronically, and automatically stored in the repository, streamlining the entire process.

With Trackado, you can:

  • Prepare and send documents for electronic signature to any device.
  • Add attachments to the signing process or require attachments from the participants.
  • Manage all your e-signing processes from within Trackado and receive your signed documents directly back into Trackado.
  • When the contract is signed, you’ll automatically receive an audit trail which is saved in the repository.

Explore more of Trackados features in our Product Tour – and check out our video to our e-signing features!

Good Energy improved their internal processes with Trackado

Good Energy, a UK-based provider of renewable energy to commercial businesses and domestic homes, has significantly improved its contract management processes through Trackado. With around 350 employees spanning various departments, Good Energy was struggling to manage contracts efficiently.

Contract management was entirely ad hoc

When Andrew Parkinson, Procurement Manager, joined Good Energy, contracts were scattered across the organization with no central storage or consistency. The signing process was mainly paper-based and lacking a structured process, leading to ad hoc practices and lack of control.

“Every part of the business was responsible for their own contracts. We had no central storage and no consistency in how we handled contracts. Some contracts could even be in the desk drawer somewhere. We had no easy way of accessing the contracts or keeping track of important dates.”

After exploring bigger, more advanced solutions, Good Energy found Trackado to be the ideal fit for their needs. According to Andrew, Trackado offered a simple and accessible solution without the complexity and high costs associated with the larger alternatives.

Getting started with Trackado

Once decided on Trackado, the process of gathering, reviewing and manually entering information from physical contracts into Trackado started. This was the most challenging part, Andrew explains.

“Since we had so many contracts in different places, the most difficult part was gathering, reviewing and manually entering the information from the physical contracts into Trackado. But the actual process of uploading them to Trackado was very simple.”

Once the contracts were uploaded into Trackado, the platform became an essential part of improving their internal processes. Now, every new contract that goes through the legal team is automatically signed, scanned and saved. Trackado ensures that Good Energy can maintain a comprehensive record of all their contracts, enabling each department to track their respective supplies, keep track of renewal dates and be ahead of the game to plan renewal activities, as well as promptly addressing any legal inquiries.

“Now every part of the business knows what they are responsible for and it allows for them to have access to that information quickly and easily. This enables us to respond to legal inquiries much faster because we can find documents right away. Trackado has made everything much more efficient and with lower risk.”

The value of simplicity

“Our favorite feature of Trackado is its lack of unnecessary features.”

Andrew points out that it’s the simplicity of Trackado that they enjoy the most. He highlights that the platform does exactly what they need, and its straightforward approach enhances their operational efficiency at a reasonable cost.

Good Energy is very happy with the support they’ve gotten from Trackado and would recommend Trackado to anyone who wants a simple solution to their contracts.

“Trackado is the best value product we have. In terms of being value for money, it’s the best thing we ever brought into the business.”  

Good Energy’s experience with Trackado demonstrates how a streamlined and user-friendly approach can significantly improve contract management processes. 

Want to learn how you can streamline your contract operations as well? Book a demo or sign up and get a 30 day free trial of Trackado.