OneSpan Announces Disruptive Enterprise Pricing for Secure Digital Agreements in the Cloud

Rhea-AI Summary

OneSpan (NASDAQ: OSPN), a leader in digital agreements security, has introduced an innovative enterprise pricing model for its cloud-based digital agreements platform. This model aims to enhance flexibility, allowing organizations to manage their e-signature and transaction needs without overspending on licenses. By shifting away from unpredictable per-signature pricing, OneSpan enables businesses to achieve operational efficiency and cost savings. The platform offers tailored solutions including identity verification and secure transaction storage, positioning OneSpan as a competitive player in the evolving Web3 landscape.

Positive

• Introduction of a flexible enterprise pricing model for e-signatures and transactions.
• Elimination of unpredictability related to per-signature pricing, enhancing budgeting efficiency.
• Potential for significant cost savings, estimated to save enterprises millions.
• Platform designed to support operational efficiency, growth, and reduced cybersecurity risks.

Negative

• None.

Industry’s first innovative cloud transaction platform model enabling simplified, flexible, and cost-effective pricing for basic, advanced and qualified e-signatures

CHICAGO--(BUSINESS WIRE)-- OneSpan™ (NASDAQ: OSPN), the digital agreements security company, today announced a new enterprise pricing model that will change how organizations plan, manage, and adopt advanced technology and services that are designed to secure customer-facing and revenue-generating business processes. OneSpan’s new pricing structure provides unparalleled flexibility, helping customers drive business outcomes without overbuying and under-consuming licenses and transactions. This model eliminates the unpredictability typically associated with per-signature or per-envelope transaction pricing, delivering new levels of versatility while also removing end-user licensing complexity. OneSpan is the first in the industry to deliver a cloud-based digital agreements platform that achieves true economies of scale, passes on cost-savings back to customers, and provides the most favorable price-per-value offering compared to traditional e-signature solution providers.

Web3 represents the next phase of the internet and is based on the premise of open platforms that enable users to tap into software and services through shared infrastructure and automation when and where they want it. This major shift fundamentally changes how digital companies operate and will require organizations to update their business strategies. OneSpan’s new approach unlocks the possibilities for enterprises to build operational efficiencies and focus resources on driving growth, minimizing risk, and maximizing business outcomes. Built on the OneSpan Transaction Cloud Platform, the company’s portfolio streamlines entire digital transaction lifecycles, seamlessly weaving together identity verification, authentication, high-assurance agreement collaboration, e-signature, and secure transaction record storage. Enterprises seeking to protect the integrity of their business processes without undermining the customer experience rely on OneSpan’s platform to reimagine how trust is created, ensured, and sustained to thrive in our digital world.

“Incumbent digital agreement solutions with consumption-based subscription licensing models are broken and simply don’t translate into a modern customer experience for Web3,” said Matthew Moynahan, President & CEO at OneSpan. “In today’s economy, we need to challenge the status quo by eliminating excessive costs and complexity. That’s exactly what OneSpan is doing. Our disruptive approach encourages adoption and digitization while providing customers with a flexible, simplified, and predictable model that will save enterprises millions of dollars. Enterprises no longer need to choose between driving growth, achieving operational efficiency, or reducing cyber security risks. Our transaction cloud platform was designed to deliver all three to ensure we secure tomorrow’s potential for our customers.”

“Today’s announcement solidifies our platform approach as an organizing principle around our different services to create new innovative solutions,” said Sameer Hajarnis, Chief Product Officer at OneSpan. “We have built a platform for enterprises to consume unique solutions in a ‘have it your way’ model. That’s the vision behind our platform––it’s designed to deliver a range of e-signature, identity verification, authentication, and secure storage solutions to simplify and secure customer-facing and revenue-generating business processes.”

One of the biggest challenges with any forecast is estimating changes to potential future business, especially for enterprises that span multiple lines of business and hundreds of applications. Enabling the highest level of flexibility to tailor solutions with elements from OneSpan’s digital agreement security portfolio, including e-signatures, authentication, and identity verification, customers now have the option to buy into the OneSpan Transaction Cloud Platform and choose consumption tiers, including unlimited enterprise-wide transaction and user models, thus increasing operational predictability, and eliminating high overage fees. With this new model, OneSpan is helping customers meet the needs of today while preserving the flexibility to adapt and optimize for the emerging requirements of tomorrow.

For more information please visit www.onespan.com.

About OneSpan

OneSpan helps organizations accelerate digital transformations by enabling secure, compliant, and refreshingly easy customer agreements and transaction experiences. Organizations requiring high assurance security, including the integrity of end-users and the fidelity of transaction records behind every agreement, choose OneSpan to simplify and secure business processes with their partners and customers. Trusted by global blue-chip enterprises, including more than 60% of the world’s largest 100 banks, OneSpan processes millions of digital agreements and billions of transactions in 100+ countries annually.

For more information, go to www.onespan.com. You can also follow @OneSpan on Twitter or visit us on LinkedIn and Facebook.

Copyright© 2023 OneSpan North America Inc., all rights reserved. OneSpan™ is a registered or unregistered trademark of OneSpan North America Inc. or its affiliates in the U.S. and other countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005317/en/

Media Contact

Nicole Bosgraaf

Senior PR Manager

+1-401-219-2131

nicole.bosgraaf@onespan.com

Investor contact:

Joe Maxa

Vice President of Investor Relations

+1-312-766-4009

joe.maxa@onespan.com

Source: OneSpan Inc.

FAQ

What is OneSpan's new pricing model for e-signatures?

OneSpan's new pricing model simplifies enterprise transactions by eliminating unpredictable costs associated with per-signature pricing, offering organizations enhanced flexibility in managing their e-signature needs.

How does OneSpan's platform support Web3 initiatives?

OneSpan’s platform offers a range of solutions tailored for the Web3 environment, enabling organizations to streamline digital transaction processes while enhancing security and compliance.

What are the potential cost savings for enterprises using OneSpan's new model?

Enterprises using OneSpan's new flexible pricing model could potentially save millions of dollars by avoiding excessive costs and optimizing transaction usage.

What features does OneSpan's Transaction Cloud Platform include?

The Transaction Cloud Platform includes identity verification, authentication, e-signature capabilities, and secure transaction record storage, streamlining the digital transaction lifecycle.

What advantages does OneSpan claim over traditional e-signature solutions?

OneSpan claims its innovative pricing model and cloud platform offer more favorable price-per-value comparisons, eliminating complexities associated with traditional consumption-based subscription models.