CIC and planetRE Partner to Provide Industry Best Practice eSignature Solution to...
City: Redwood Shores and San Jose, CA,
Date : Sep 15, 2009
Communication Intelligence Corporation (“CIC”) (OTC BB: CICI), a leading supplier of electronic signature solutions for business process automation in the financial industry* and the recognized leader** in biometric signature verification and planetRE, a leading provider of transaction management platform to national real estate brokers announced today that they have entered into an agreement to provide CIC’s electronic signature solutions to planetRE’s customers and to jointly promote each other’s product offerings.
Under the strategic agreement, CIC is providing its industry proven electronic signature technology for planetRE’s Transact™, an enterprise level SaaS platform for high-end Transaction & Document Management, Broker Transact, and risk management with a host of Broker centric features not found on any other platform on the market for real estate brokers nationwide. One of the distinguishing functions of this platform is centralized auditing and file review, also commonly known as “broker signoff”.
“Traditionally, each broker or designated broker/manager would sit with mounds of paperwork in the office and sign each physical document by hand, which was too time consuming and cumbersome,” stated Subrao Shenoy, planetRE’s CEO. “Our partnership with CIC has enabled the real estate industry to take a huge step forward; with electronic signatures being used in broker signoffs. planetRE’s Transact alerts brokers on transactions coming to close and review. Brokers can securely login from any location in the world and using any major browser access upcoming transaction files and documents online, input comments on files and signoff using integrated electronic signature with CIC’s Sign-it technology.”
The combined offering provides the fastest way to convert large amounts of paper documents to online folders. Unlike other solutions that only provide document storage or bits and pieces of transaction management, planetRE allows complex document access rules, high speed conversion of paper to electronic documents, electronic signatures, auditing, and file review logic with detailed Transact logs. It serves as a center of communication for clients, agents, office, staff, co-op agents, and vendors over an entire transaction lifecycle.
“CIC is pleased to see the progress being made within the Real Estate Industry to adopt and take advantage of electronic approval technologies and are therefore delighted to be partnering with planetRE,” stated CIC’s Chairman & CEO, Guido DiGregorio. “This partnership and collaboration fully utilizes all of the benefits that our electronic signature technology provides through secure, paperless transactions including the significant support of environmentally sustainable business practices.”
Windermere Real Estate, Arizona, one of the largest brokerage operations in the West with several offices and hundreds of real estate professionals is utilizing this centralized paperless system.
“After an extensive evaluation of the various electronic signature vendors and their technologies we chose planetRE with CIC’s proven and secure electronic signature solution,” stated Tim Smallwood, Director at Windermere Real Estate. “It is an ideal solution for our company because it enabled us to reduce costs in this brutal economy with a centralized paperless system that every agent in the company uses. We save significant time; our Broker signoffs are much easier, faster and more transparent with planetRE combined with CIC’s Sign-it technology and lastly, the system provides detailed on-line auditing and addresses all the local Department of Real Estate requirements.”
“Realty Executives of Nevada waited to adopt a transaction management platform until we could find technology for the Broker to sign the files electronically rather than printing out a page, signing it and faxing it back into the system. CIC’s electronic signature technology allows us to perform that task online which made it feasible for us to transition to a paperless system. We had considered planetRE to be the most functional program for our needs but lacked this one component. We now have that, and the system is working smoothly for Broker file review and transaction management,” stated Jeff Moore, award winner broker/owner for leadership & excellence for Realty Executives International. “The more progressive Realtors are demanding a paperless transaction management system to function with their business practices and client needs. We feel by having the Broker sign electronically, as well, that we offer a superior solution to the Executives/agents that work for our company and those looking to enhance their offerings to their clients.”
Realty Executives of Nevada is ranking consecutively in the top 100 Real Estate Companies nationally with numerous Executives/agents in Southern Nevada.
“With clients scattered all over the world it was important to us to embrace this technology,” stated Forest Barbee, Chief Compliance Officer and Broker of Record for Prudential Americana Group Realtors. “We chose planetRE and CIC because of their product leadership and differentiation as well as strong, successful track record. Real estate transaction processes are extremely complicated with myriads of compliance that requires enormous amounts of paperwork.”
Prudential Americana Group Realtors, the 8th largest in the company’s national network of 677 franchises launched a new Green campaign in which the company deployed a paperless transaction system utilizing planetRE and CIC’s electronic signature technology.
Communication Intelligence Corporation (“CIC”) is a leading supplier of electronic signature solutions for business process automation in the Financial Industry and the recognized leader in biometric signature verification. CIC’s products enable companies to achieve truly paperless work flow in their eBusiness processes by enabling them with “The Power to Sign Online®” with multiple signature technologies across virtually all applications in SaaS and fully deployed delivery models. Industry leaders such as AGLA, Allstate, American Family, Bank of America, Charles Schwab, Prudential, Snap-on Credit, Travelers, Wells Fargo and WFG (World Financial Group) chose CIC’s products to meet their needs. CIC has deployments with over 400 channel partners and enterprises worldwide representing hundreds of thousands of users, with over 500 million electronic signatures captured, eliminating the need for over a billion pieces of paper. CIC sells directly to enterprises and through system integrators, channel partners and OEMs. CIC is headquartered in Redwood Shores, California and has a joint venture, CICC, in Nanjing, China. For more information, please visit our website at http://www.cic.com
*In December 2008, CIC was named to Forrester Research’s “Hot Banking Tech Companies To Watch in 2009” Report. **In October 2007, CIC was awarded the 2007 Global Frost & Sullivan Award for Market Leadership in the dynamic signature verification market.
TrSoft (d.b.a. planetRE) is a privately held, leading edge SaaS vendor, providing online multi tenant Enterprise software to the real estate industry. Headquartered in Silicon Valley, CA; its primary mission is to provide cutting edge products to the global real estate industry in areas of consumer search, CRM, Transaction and Financial Management. planetRE is licensed by large national real estate companies. More information about planetRE can be found on the Internet at www.planetre.com.
Forward Looking Statement
Certain statements contained in this press release, including without limitation, statements containing the words “believes”, “anticipates”, “hopes”, “intends”, “expects”, and other words of similar import, constitute “forward looking” statements within the meaning of the Private Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors which may cause actual events to differ materially from expectations. Such factors include the following (1) technological, engineering, quality control or other circumstances which could delay the sale or shipment of products containing the Company’s technology; (2) economic, business, market and competitive conditions in the software industry and technological innovations which could affect the Company’s business; (3) the Company’s inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others or prevent others from infringing on the proprietary rights of the Company; and (4) general economic and business conditions and the availability of sufficient financing
CIC, the Power to Sign Online and Sign-it are registered trademarks. All other trademarks and registered trademarks are the property of their respective holders.
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