In order to reinforce the security of their workflow and financial transactions, a multi-disciplinary advisory practice providing an integrated range of accounting, wealth management, and estate planning services to private and corporate clients, Praxis Group, have implemented the CoSign digital signature (standard electronic signature) solution.

Praxis Group's initial transaction process consisted of the company's associates utilizing paper documentation to communicate financial transaction requests to banking institutions. The organization decided, after internal review, that it required a workflow process that eliminated the possibility of document forgery and allowed the transaction process to remain an electronic one. Allowing them to digitally sign and seal their documentation, eliminating the potential for paper-based forgery, Praxis Group chose to implement CoSign digital signatures. Praxis Group, to further strengthen their workflow process, coupled CoSign with a biometrics system that verifies each associate before they are authorized to handle a financial transaction.

"Through our implementation of CoSign, we've found a digital signature solution that provides us with both risk mitigation and audit trails, and helps us maintain a paperless workflow", declared Managing Partner at Praxis Group, Simon Thornton.

All financial transactions that Praxis Group handles, since the dual deployment of CoSign and a biometrics system, are done in an optimally secure manner. After verification through the biometrics system, associates digitally sign transaction approval PDFs with CoSign. The CoSign digital signature seals the document, and it's sent to the banking institution via an electronic delivery system. The paperless documentation, upon completion of a transaction, is then managed in an Open Text document management system. CoSign's digital signature solution allows Praxis Group to keep their documentation paperless, and it also works seamlessly with their biometrics system, assisting the organization to achieve the security standards they strive to maintain.