With the holidays approaching and the pandemic surging, clickwrap transaction platforms (CTPs) are emerging as a valuable tool to help businesses navigate the increased volume of online transactions.
CTPs help companies secure transactions that are, or have moved, online. These business transactions are purpose-built for high volumes of agreements. Clickwrap transactions replace electronic signatures and provide an archived digital record of online interaction.
Instead of signing, the user clicks to check a box, or clicks on a button with a label such as 'I Agree' or 'Accept'. That action authorizes the included consent language.
Aragon Research in October published a report identifying the new up and coming automated technology called workflow and content automation (WCA). The report identified clickwrap transactions as a key capability for WCA.
Content automation has become a foundational component as enterprises implement more and more digital transformation initiatives. The Aragon Research Globe for Workflow and Content Automation from Aragon highlights 14 major providers in the WCA category.
In June, Aragon Research named PactSafe a hot vendor in the WCA category. In October, Aragon named PactSafe an Innovator of the Aragon Research Globe for Workflow and Content Automation. PactSafe is one of a few early clickwrap transaction platform providers.
"Most enterprises clearly understand that, to remain competitive, they must go fully digital with customer-facing documents and processes related to those documents," according to Aragon's report.
