eSignatures are a really useful piece of technology. For anyone who has to sign lots of documents, and is still having to wrangle manual signing, faxing or posting documents and the constant run-around between parties, eSigning is a revelation. With eSigning, documents can be signed online without the need for physical paper. It’s also an incredibly useful piece of technology when organizations need to have documents signed by multiple parties. I was recently involved in a funding round in which documents were needed to be signed by a couple of dozen different parties across the globe. The old approach to signing would have made this process interminable.
But while eSigning is incredibly useful, it’s kind of expensive. Barracuda is looking to change that today with the launch of a bargain-basement priced offering, CudaSign. CudaSign is a re-branding of Barracuda’s SignNow product (confusing? Yes). Barracuda acquired SignNow back in 2013 and it seems to have been languishing since then – the SignNow website feels like a trip back in time. So from that perspective the rebrand, and the newfound attention, makes sense. But the important part of the re-brand is that Barracuda is slashing pricing – CudaSign is priced at a fairly incredible $1 per user, per month. This is a fraction of the pricing that the competition have (more on that below).
On top of the bargain-basement product, a higher-level product, CudaSign Premium, offers integrations into existing business workflow, for example Customer Relationship Management (CRM) systems, contract management tools and business productivity suites. Finally CudaSign is available in the cloud, as an on-premises product or as a virtual appliance in a private cloud. Barracuda rolled out the SignNow appliance last year – one assumes that a desire to move up the food chain and sell its product to larger enterprises was the thinking behind that. Barracuda claims two million customers are using its existing product.
First things first. The pricing is incredibly persuasive. If we take a look at competitive products, CudaSign is up to a twentieth of the cost. DocuSign Professional, for example, costs $20 per user per month and has similar functionality. There are, of course, some free solutions – HelloSign has a starter plan that is free but it only includes the ability to sign three documents per month – that’s fine for tiny organizations but as needs grow, the pricing does similarly.
The real question here is around Barracuda’s commitment to the product. Assuming they resource it appropriately, and let the team execute like a startup, CudaSign looks like a solution that could really shake up the eSigning market.
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forbes.com – 2015-03-03