Industry Leaders Align On Digital Transaction Management StandardBy: xdtmdevadmin
This press release originally appeared on DocuSign.com.
xDTM Standard Protects and Empowers Organizations and Consumers to Securely Conduct Business Online
xDTM Board of Governors Includes Blue Cross and Blue Shield, the Commonwealth of Pennsylvania, DocuSign, FedEx, Hewlett-Packard, Mandiant, Purdue University, Stanford Children’s Health and Stanford School of Medicine & Others
SAN FRANCISCO, CA – March 5, 2014 – DocuSign, in partnership with industry, security, and policy thought leaders announced a new global standard for secure cloud-based Digital Transaction Management, xDTM. The xDTM Standard protects and empowers organizations and consumers to securely conduct business around the world. Key requirements include security, privacy, compliance, enforceability, availability, openness, scalability, and universality.
A Board of Governors has been created to manage the xDTM Standard. Board members include:
- Arden Bement, fmr. director of National Institute of Standards & Technology and National Science Foundation
- Rob Carter, EVP of FedEx Information Services and CIO, FedEx
- Erik Avakian, CISO, Commonwealth of Pennsylvania
- Brett Wahlin, CISO, Hewlett-Packard
- Dr. Christopher Longhurst, CMIO, Stanford School of Medicine
- Leah Anderson, Head of IT Strategy, Demand, and Delivery Services, Blue Cross and Blue Shield of Minnesota
- Kevin Mandia, founder of Mandiant, a FireEye company
- Dr. Gerry McCartney, CIO, Purdue University
- Tom Pageler, CISO, DocuSign
“Standards help drive consistent, predictable, and trustworthy interactions between parties, be it business-to-business, business-to-consumer, or consumer-to-consumer,” said Arden Bement, former director of both the National Institute of Standards and Technology and the National Science Foundation. “DocuSign’s leadership of the xDTM Standard will help define the methods, procedures, and requirements for safe and secure digital transactions as more and more companies and individuals make the transition to fully digital interactions in the cloud.”
Digital Transaction Management has emerged as a new category of cloud services to digitally manage document-based transactions. DTM removes friction inherent in transactions that involve people, documents, and data to create faster, easier, more convenient and secure processes. DocuSign’s DTM platform helps consumers and businesses complete transactions faster by eliminating the hassles, costs, and lack of security in printing, faxing, scanning, and overnighting documents to capture information, payments, and signatures. Companies DocuSign to create better customer experiences, ensure security and compliance, and achieve substantial ROI.
Built on the cornerstones of being “trusted” and “connected”, the xDTM Standard outlines the key requirements for companies and platforms to facilitate business in a trusted online environment that protects consumers and businesses:
- Security – Secure xDTM transactions have best-in-class technical protection afforded by encryption, highly secure access with privileges approved by multiple parties, and proactive protection policies.
- Privacy – Private xDTM transactions allow a person or company to reveal information selectively, at their discretion. Personal data is not sold.
- Compliance – Compliant xDTM transactions conform to industry policies, standards, and laws such as ISO 27001, SSAE 16, PCI DSS, HIPAA controls, and the like. Recurring third party auditing is engaged to verify compliance.
- Enforceability – An enforceable xDTM transaction is non-reputable, reliable, and transparent with an audit trail.
- Availability – xDTM transactions are always accessible and obtainable. Business critical systems must be available with a minimum of 99.99% transaction uptime with no scheduled service downtime.
- Openness – Open xDTM transactions are supported by collaborative services environments and leverage open API’s and open gateways.
- Scalability – Scalable xDTM transactions are facilitated by a system that accepts increased volume without impacting performance.
- Universal – Universal xDTM transactions work seamlessly across heterogeneous computing environments, devices, languages, and industries.
“Digital Transaction Management represents a new business category that DocuSign has helped to pioneer”, said Jim Lundy, CEO and lead analyst, Aragon Research. “DocuSign has partnered with leading global brands to facilitate the xDTM Standard which will protect consumers and businesses engaging in online commerce.”
“Digital Transaction Management represents a huge opportunity for healthcare,” said Leah Anderson, Head of IT Strategy, Demand, and Delivery Services, Blue Cross and Blue Shield of Minnesota. “As the industry looks to deliver even greater levels of patient service while continuing to drive operational efficiency at a lower cost, it is becoming increasingly important to identify options to ‘go digital.’ From clinical trial paperwork to patient check in, medical records to insurance claims, there are many opportunities to leverage DTM in the future in order to drive both increased business capability as well as overall patient satisfaction throughout the entire lifecycle of their healthcare experience.”
“Purdue University is a leader in higher education and research known for our discoveries in science, technology, and engineering,” said Dr. Gerry McCartney, Oesterle Professor of Information Technology and vice president for Information Technology and System CIO, Purdue University. “Digital Transaction Management, like much of what we teach our undergraduate and graduate students, is on the cutting edge of technology and innovation, creating a safe, secure, and trusted environment for global commerce.”
“We are constantly innovating our processes, systems, and technology to make it easy to do business with HP,” said Brett Wahlin, CISO, Hewlett-Packard. “The xDTM standard will make it even easier to buy and sell HP products by creating an open, trusted, and secure framework for digital transactions.”
Individuals interested in learning more about DocuSign’s Digital Transaction Management platform may visit http://www.docusign.com/how-it-works/digital-transaction-management.
About DocuSign Inc.
DocuSign® is The Global Standard for Digital Transaction Management™. Global enterprises, business departments, individual professionals, and consumers have standardized on DocuSign, with more than 40,000 new users joining the DocuSign Global Network every day. Today, that network includes millions of users in 188 countries. DocuSign’s DTM platform supports legally compliant electronic and digital signature processes tailored to meet requirements globally with localization in 43 languages. Companies and individuals DocuSign to accelerate transaction times to increase speed to results, reduce costs, increase security and compliance, and delight customers across nearly every industry – from financial services, insurance, technology, healthcare, manufacturing, communications, real estate, retail, and consumer goods to higher education, non-profit and others – as well as every business department, including sales, finance, operations, procurement, HR/staffing, legal, and customer support. For more information, visit www.docusign.com or call 877.720.2040. Visit the DocuSign blog at www.docusign.com/blog and follow DocuSign on Twitter, LinkedIn, and Facebook.