ThinkSmart to go paperless

Computer and office equipment financing company ThinkSmart (ASX:TSM) will deploy a system from Silanis technology to eliminate the need for customers hand-sign documents

Computer and office equipment financing company, ThinkSmart (ASX:TSM), plans to deploy a paperless office solution from US vendor Silanis Technology.

ThinkSmart said it would use Silanis' paperless application processing system in both its online and in-store operations worldwide.

The company said the upgrade is a bid to improve operational efficiency by eliminating the time delays, costs, errors and processing risks associated with the need to hand sign documents, and to expand its distribution reach.

ThinkSmart hopes to have electronic signature capabilities in place by December, and believes this move will allow it to expand its distribution reach with existing and new retail partners, according to CEO Ned Montarello.

He said 32 per cent of ThinkSmart's Australian business – where it has rental agreements with JB Hi-Fi (ASX:JBH), Woolworths (ASX:WOW) subsidiary Dick Smith and OfficeWorks (a subsidiary of Coles Group, which is itself now owned by Wesfarmers (ASX:WES) - was initiated online in 2010.

“We've cut the time it takes for in-store purchase approval to a few minutes through our web-based portal, and our move to electronic signature capability will further improve the process,” he said.

ThinkSmart has also integrated this web portal with the Eclipse point of sale system operated by its retail partner in the UK, Dixons Retail, he added.

TSM shares fell 1.12 per cent on Thursday to $0.080.

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