3 minute read:
Exciting news from the Cake baking room!
Our new fully automatable “Settlement Engine” is in production testing, and about to be launched. We are very excited about the peace of mind it will bring our customers when using Cake.
What does this “Settlement Engine” do, you say…?
- Have you ever had to send around a circulating resolution to a bunch of people, and had to (try to) track who has or hasn’t signed it? It solves that.
- Have you ever had to take the tedious process of inserting every shareholders’ name into a resolution, one by one, working out which execution block each should use, and ended up having to count them all and see who you’ve missed anyway? It solves that.
- Have you ever had to create what is basically the same document, 10 times, just to customise it for 10 different recipients? It solves that.
- Have you ever lost track of who has and hasn’t signed or received a document? Or whether you have even sent it in the first place? It solves that too.
Or have you ever had to pay a huge amount to get someone to do any of this for you? Well, it can definitely solve that.
Create new documents and resolutions with pre-populated information
In short, the Cake Settlement Engine will allow you to create automatable documents and resolutions through the platform. It then allows you to directly push those resolutions or documents for online signing by the company recipients (whether that be members, directors, employees or even note holders).
It will use the data already existing in the platform to populate all customisable sections.
For example, it will automatically know whether one of your shareholders is a sole director company, and will insert the appropriate sole director execution block in for that shareholder.
Or if you want to create your own ESOP Offer Letters, it will pull your employee data from the Cake Options section, and pre-populate the vesting rules, address and amount of options etc for each letter.
Share documents directly with recipient for signing
You can save documents in draft form, share them with colleagues, or send them straight out for execution, through the platform. You can even invite your accountant or lawyer to create your documents on the platform, and benefit from lower hourly fees as a result.
Using the data in your Cake account, the documents can be sent directly to the recipients, with the click of a button.
Track signing status of all documents resolutions in one place
It will then keep you updated on when the recipient has viewed the document, and of course when they have signed it.
Any delays in someone signing? You can send simple reminders or messages through the platform, to get it all done as efficiently as possible.
Let the platform update itself
And finally, once the document is signed, no need to worry about losing it. It will all be stored in your Cake document storage automatically. Those signed documents will also trigger updates in your cap table, keeping everything updated without any need to make the changes manually.
Peace of mind is coming…
No more sending the same email 10 times.
No more collating signed PDF pages.
No more late nights swapping names and email addresses out of the same damn document.
And no more chasing up advisors for menial admin tasks over and over.
The Settlement Engine solves that.
To be released… very soon.