In their latest agreement the term of the partnership has been extended for a minimum of five years. Also, the license grant has been expanded from electronic signature solutions sold on a standalone basis and applied to Single Euro Payments Area (“SEPA”) debit and credit mandates.

Now included is the management and authentication of end-to-end digital transaction management solutions that seamlessly handle payment transactions from the issuance of purchase orders and invoices to scheduling and fulfillment of payment. This workflow process improvement dramatically increases the velocity of the customer’s cash cycle.

Current deployments in production include standalone use of electronic signatures by a leading global pharmaceutical company and SEPA mandate processing by an international engineering services group, as well as by several mutual insurance companies.

Cegedim has also signed a number of contracts that are expected to go into production in the next few quarters, including ones with a financial institution specializing in payment solutions and consumer credit, a leading equipment rental company, a major European pharmaceutical company and a global wholesale trader in tools, equipment and other hardware, among others.

Jean-Marie Simon, director for Cegedim Global Payments:
“CIC has been instrumental in Cegedim’s ability to deliver fully digital workflow solutions to our client base. Our product and service offerings leverage CIC’s highly secure, flexible and powerful solutions for electronic signatures, as well as for routing, authentication and other key workflow elements. We are witnessing increased demand for our joint solutions and expect business to accelerate over the next several quarters and into next year.”

Philip Sassower, chairman and chief executive officer for CIC:
“All the hard work and investment by both Cegedim and CIC over the past three years is developing into market traction,” said “Cegedim selected CIC as its technology partner given our software’s proven ability to handle enterprise-level, highly scalable workflow management and authentication solutions that are used by leading financial institutions in the United States to process hundreds of millions of annual transactions. We are very excited that our combined efforts and market leading solutions will lead to revenue in the current quarter. We believe that future sales from this high transaction volume opportunity will accelerate, driven by the above described existing relationships, SEPA and the interest by French and other European companies in the powerful blending of digital transaction management and electronic signature solutions.”