National Development Institution Investment and Business Guarantees (INVEGA) is a financial entity incorporated by the State. Its main objectives are: provision of financial services and implementation and administration of financial and other support instruments for SMEs.

Through a government resolution, INVEGA has been designated as the sole financial institution as a national development institution, enabling the implementation of financial support measures. The following companies are also currently being consolidated into INVEGA: Public Investment Development Agency (VIPA), State Investment Management Agency (VIVA), Agricultural Loan Guarantee Fund (ŽŪPGF), and the Ministry of Finance of the Republic of Lithuania has been appointed to represent the state as a shareholder.

“GoPaperless exceeded our expectations with its extensive range of services, intuitive user experience, and fast client support. The most significant benefit we derive from e-signing is the time saved, which enables us to allocate our resources to more critical tasks.”

Ernesta Sečinskytė, IT Project Manager of the Information Technology Department

Challenge

Managing financial services requires a high level of responsibility. Ensuring seamless, secure, and transparent processes is crucial for many businesses. INVEGA operates across multiple systems (service providers) where individually implemented solutions were time-consuming and rather inefficient.

To streamline operations and reduce time spent, INVEGA initiated a thorough search for a single partner to provide comprehensive solutions for all authentication and electronic signing needs within the company.

Solution

Before implementing e-signing solutions, INVEGA conducted an extensive market analysis. GoPaperless was the ideal choice, fulfilling the organisation’s requirements with its wide variety of services. As a result, INVEGA started using GoPaperless services in early 2018.

INVEGA thoroughly tested the solutions before integrating them into their systems to mitigate the risk of potential service disruptions upon implementation in the production environment. The organisation reported no issues during implementation.

INVEGA now uses GoPaperless e-signing solutions for signing client financing agreements. Additionally, GoPaperless e-signature functionality is employed for customer authentication within one of their application systems.

Result

After adopting e-signing solutions, INVEGA noticed considerable time savings as everything is in one place. With all processes consolidated in one platform, customers and INVEGA representatives no longer need to use separate tools for signing and uploading documents. This eliminates potential signature errors (time stamps, certificates) when uploading documents signed differently. This also ensures an efficient workflow.

Additionally, the GoPaperless team provides assist with any questions regarding their services, ensuring clear and helpful responses.