Can the model be signed electronically?

Yes. Electronic signatures are generally enforceable under the ESIGN Act (15 U.S.C. §7001) and UETA in most states, provided intent, consent, attribution, and retention requirements are met.

When is notarization required?

Notarization is required only when a downstream filing or statute specifically demands it. For documents that will be recorded or that transfer interests in real property, check state recording requirements.

What authentication level should I use?

Choose authentication based on risk: email-only for low risk, SMS or KBA for moderate risk, and multi-factor or ID verification for transactions involving regulated data or high monetary value.

How do I handle PHI in the model?

Limit PHI to identified fields, execute a BAA with the e-sign provider if required, and apply retention rules consistent with 45 CFR §164.530(j).

How do I correct an executed model?

If material changes are needed after signing, prepare an amendment or replacement document and obtain fresh signatures rather than editing a signed copy.

How long should I keep signed copies?

Retention depends on use and regulation; follow the retention timeline above and preserve the audit trail to satisfy IRS, HIPAA, or other regulator requirements.

Electronic Signature
Templates
Miscellaneous
Business Discovery Model

Business Discovery Model

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

BUSINESS DISCOVERY MODEL

This Business Discovery Model Agreement (the "Agreement") is entered into effective as of between Client Name: and Consultant Name: .

WHEREAS

WHEREAS, Client engages Consultant to perform a structured discovery of Client's business operations, market positioning, and systems with the objective of producing a Business Discovery Model and actionable recommendations (the "Deliverables"); and

WHEREAS, Consultant has expertise in business analysis, modeling, and strategic planning and will apply such expertise in conducting interviews, document review, data analysis, and workshops as necessary to develop the Deliverables; and

WHEREAS, the parties desire to set forth their respective responsibilities, payment terms, confidentiality obligations, and other terms governing the engagement.

SCOPE OF WORK

Consultant shall perform the following services (collectively, the "Services") and deliver the Deliverables described below. The parties acknowledge that the scope may be refined by mutual written agreement.

Detailed Scope and Deliverables

PAYMENT TERMS

In consideration of the Services and Deliverables, Client shall pay Consultant the fees and reimburse expenses in accordance with the following terms.

Total Fee Payment Schedule Late Payment Fee

Consultant shall invoice Client in accordance with the Payment Schedule. Invoices unpaid within thirty (30) days of invoice date shall accrue the Late Payment Fee specified above and may be suspended or collected pursuant to law. Reasonable out-of-pocket expenses pre-approved by Client shall be reimbursed upon submission of supporting documentation.

TERM AND TERMINATION

This Agreement shall commence on Start Date: and shall continue until End Date: unless earlier terminated in accordance with this section.

Either party may terminate this Agreement for convenience upon written notice delivered at least days prior to termination. Either party may terminate immediately for material breach if such breach is not cured within thirty (30) days after written notice of the breach. Termination shall not relieve Client of its obligation to pay for Services rendered and expenses incurred through the effective date of termination.

CONFIDENTIALITY

Each party (the "Receiving Party") shall hold in strict confidence and shall not disclose any Confidential Information of the other party (the "Disclosing Party") except as required for performance of the Services. "Confidential Information" includes non-public business, financial, technical, and strategic information disclosed in any form. Confidential Information does not include information that is (a) publicly known through no fault of the Receiving Party, (b) rightfully received from a third party without breach, or (c) independently developed by the Receiving Party without use of the Disclosing Party's information.

The Receiving Party shall use at least the same degree of care to protect Confidential Information as it uses to protect its own confidential information, but in no event less than reasonable care. Upon written request or upon termination of this Agreement, the Receiving Party shall return or destroy Confidential Information and certify such destruction upon request.

Acknowledgment of Confidentiality

By checking this box, the undersigned parties acknowledge and agree to the confidentiality obligations set forth above.

INTELLECTUAL PROPERTY

Unless otherwise agreed in writing, Consultant retains ownership of all pre-existing intellectual property and methodologies. Upon full payment of all fees due, Consultant grants Client a non-exclusive, perpetual, royalty-free license to use the Deliverables for Client's internal business purposes. Consultant shall not be required to assign rights in Consultant's general know-how or internal tools.

LIMITATION OF LIABILITY

EXCEPT FOR LIABILITY ARISING FROM A PARTY'S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, IN NO EVENT SHALL EITHER PARTY'S AGGREGATE LIABILITY ARISING OUT OF OR RELATED TO THIS AGREEMENT EXCEED THE TOTAL AMOUNTS PAID OR PAYABLE BY CLIENT TO CONSULTANT UNDER THIS AGREEMENT IN THE TWELVE (12) MONTHS PRECEDING THE EVENT GIVING RISE TO LIABILITY. IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR CONSEQUENTIAL, SPECIAL, OR PUNITIVE DAMAGES.

NOTICES

All notices required or permitted under this Agreement shall be in writing and delivered to the addresses below or to such other address as either party designates by written notice.

Client Notice Address Consultant Notice Address

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to its conflict of laws principles. Any dispute arising under this Agreement shall be resolved in the state or federal courts located in the chosen jurisdiction, subject to the parties' rights to seek equitable relief.

ENTIRE AGREEMENT; AMENDMENT

This Agreement, together with any exhibits or written statements of work expressly incorporated herein, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings. Any modification or amendment must be in writing and signed by authorized representatives of both parties.

MISCELLANEOUS

If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect. Neither party may assign this Agreement without the prior written consent of the other, except that Consultant may assign to an affiliate or in connection with a sale of substantially all assets. The parties are independent contractors and nothing in this Agreement shall create an employer-employee, partnership, or agency relationship.

SIGNATURES

The parties have executed this Agreement through their duly authorized representatives as of the dates indicated below.

Client Name:

By:

Date:

Consultant Name:

By:

Date:

What the Business Discovery Model Is and when it’s used

A Business Discovery Model is a structured, written assessment that outlines a company’s current operations, objectives, constraints, and information needs to guide planning or process redesign. It combines stakeholder interviews, process mapping, data inventory, and gap analysis into a single reference document used by strategy, product, legal, and IT teams. The model documents assumptions, success criteria, and required deliverables so decision-makers can prioritize work, estimate cost and timeline, and align resources before drafting contracts or implementing new systems.

Why a Business Discovery Model matters to projects

A clear Business Discovery Model reduces scope ambiguity, clarifies responsibilities, and creates a defensible record for decisions that shape contracts or compliance steps. It helps control cost overruns, reduces rework, and provides an auditable baseline for later verification and governance.

Who typically prepares and relies on this model

Teams that assemble or consume a Business Discovery Model are cross-functional and include operational, legal, and technical roles.

Project leads and product managers who scope initiatives and set deliverables.
Legal and compliance teams assessing regulatory or contractual impact.
Finance and procurement reviewing budgets, costs, and vendor requirements.

The model is a living reference used during vendor selection, contract negotiation, regulatory review, and implementation planning.

Primary signatories and reviewers

Project Sponsor

A senior business leader or executive who approves scope and budget. The sponsor signs to confirm strategic alignment and funding commitment and remains accountable for major changes documented in subsequent versions.

Legal Reviewer

An in-house or external attorney who validates compliance, contractual language, and risk allocations. Their review ensures the model’s requirements are enforceable and consistent with regulatory obligations.

Essential elements to include in a professional model

A complete Business Discovery Model is modular: it defines stakeholders, maps processes, lists data needs, captures constraints, identifies risks, and specifies measurable outcomes to guide contract and implementation phases.

Stakeholder Map

Defines roles, decision rights, and points of contact. Include escalation paths and expected response times so vendors and internal teams understand approval workflows.

Process Flow

Document current and proposed process steps with triggers, inputs, outputs, and exceptions. Use swimlanes to show cross-team handoffs and owners for each step.

Data Inventory

List required data elements, sources, retention needs, sensitivity classification, and sharing rules. Note any PHI or regulated data that triggers HIPAA, FERPA, or similar controls.

Requirements

Functional and non-functional requirements with priority, acceptance criteria, and measurable success metrics. Distinguish mandatory items from desirable features.

Risk Register

Identify compliance, security, timeline, and budget risks with mitigations and owners. Tie high-risk items to required contractual protections or insurance.

Deliverables & Timeline

Specify expected outputs, milestones, acceptance reviews, and handover criteria. Include who must sign or approve each deliverable and any regulatory filing deadlines.

Step-by-step: completing a Business Discovery Model

Follow this sequence to collect inputs, validate assumptions, and produce a signed, auditable document ready for contract drafting.

01

Kickoff: Gather stakeholders and confirm objectives and timeline.
02

Information Gathering: Collect process documents, data schemas, and interview notes.
03

Drafting: Compile processes, requirements, risks, and acceptance criteria.
04

Review & Sign-off: Legal and sponsors review; obtain required signatures and dates.

How to configure an online workflow for the model

When automating the model, define field behavior, signer order, authentication, and notifications to match your internal approval process.

Field	Configuration
Document Upload	Accept PDF, DOCX, or HTML; lock final version after upload.
Field Detection	Enable auto-detection for common fields; verify placement manually.
Signer Authentication	Choose email link, SMS code, or KBA based on risk level.
Routing Order	Set sequential or parallel signing depending on approvals required.

Typical online signing flow for the model

A standard e-sign workflow streamlines distribution, signer authentication, and record retention while preserving an auditable trail.

Upload Document: Sender uploads the finalized model to the platform.
Place Fields: Add signature, initial, date, and conditional fields as needed.
Send to Signers: Define signer emails and order; include attachments if required.
Complete & Store: Signed copies and audit trail are archived for retrieval.

Technical and platform considerations for e-submission

Select a platform that supports your required document formats, signer authentication methods, and record-retention policies.

Formats Supported: PDF, DOCX, HTML, Excel
Integrations: Salesforce, NetSuite, Microsoft 365
Authentication: Email, SMS, KBA, SSO

Security and compliance checklist

Encryption: TLS 1.2/1.3 in transit

At-rest Encryption: AES-256 at rest

Certifications: SOC 2 Type II available

Regulatory: ESIGN and UETA compliant

Healthcare: HIPAA compliant (BAA required)

Audit Trail: Timestamps, IP, and action log

Practical tips for accurate, efficient completion

Adopt consistent formats, track version history, and align signatory authority with governance policies to reduce rework and legal risk.

Standardize formats and templates

Use a single template with predefined fields and naming conventions to avoid duplicate data and inconsistent clauses across teams. Lock template headers and critical fields before distribution.

Validate data sources

Confirm authoritative sources for financial or regulatory figures before embedding them in the model. Cite the source and capture the retrieval date in an attachments section.

Use conditional fields

Limit signer inputs to the fields relevant to their role. Conditional logic reduces signer error and streamlines review by hiding irrelevant sections.

Retain full audit records

Keep signed copies, audit trails, and any consent disclosures for the retention period required by applicable laws and policies to support future audits or disputes.

Common mistakes to avoid when preparing the model

Leaving responsibilities vague, which creates scope disputes and delays during implementation.
Using inconsistent naming or dates across attachments, undermining the document’s evidentiary value.
Failing to classify regulated data, which can trigger noncompliance with HIPAA or state privacy laws.
Not specifying signer authority, leading to invalid approvals or later repudiation of commitments.

Key legal and financial risks to watch

Regulatory fines: Violations can trigger agency penalties and remedial requirements.

Contract disputes: Ambiguous obligations increase litigation and remediation costs.

Incorrect tax reporting: IRC §6721 penalties may apply for inaccurate filings

I-9 noncompliance: Civil fines per 8 CFR §274a.2

HIPAA breaches: 45 CFR §164 penalties and corrective action plans

Data loss: Operational disruption and reputational harm

Common e-signature vendor comparison for executing the model

This table summarizes entry pricing and basic capabilities across popular e-sign platforms. signNow is listed first per comparison convention.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies by vendor	Varies by vendor	Varies by vendor	Varies by vendor
Bulk Send	Yes	Varies by plan	Varies by plan	Varies by plan	Varies by plan
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No cap	100 envelopes/user/year	Varies by plan	Varies by plan	Varies by plan

How other organizations used a Business Discovery Model

Representative examples show how the model reduced friction and created a single source of truth for decision-making.

Optica Ventures — COO

Optica used the model to standardize intake across portfolios and ensure consistent vendor requirements.

The approach reduced back-and-forth with vendors.
The result was clearer handoffs, faster vendor onboarding, and fewer contract clarifications during execution, improving turnaround on signed agreements.

Fertility Centers of Illinois — Founder

The team documented clinical and administrative data flows to identify PHI touchpoints and compliance needs.

That audit highlighted BAA requirements.
With the model, they defined controls, reduced manual steps, and preserved an auditable trail tied to signed acknowledgments by clinical and administrative stakeholders.

Typical timelines and review windows

Establish realistic internal deadlines for each stage and communicate them to signers to avoid delays during contract and implementation phases.

Internal Kickoff:

1–2 weeks to align stakeholders and gather initial documents

Stakeholder Interviews:

2–4 weeks depending on availability and scope

Draft Delivery:

1–2 weeks after interviews for initial draft

Review Period:

Allow 7–14 business days for legal and sponsor review

Final Adoption:

Signatures and archival within 1–3 business days after approval

Export, format, and integration options to consider

Choose formats and integrations that match your document lifecycle and archival needs to ensure portability and long-term readability.

Export Formats

Export signed models as PDF/A for long-term archival, or as standard PDF and DOCX for editing and repositories. Ensure embedded audit metadata remains attached to the file.

Templates

Maintain a central template library with locked fields for critical clauses and dynamic fields for project-specific data to reduce manual edits and errors.

API & Automation

Enable API integration for automated population of repetitive fields, bulk send options for mass distribution, and webhooks for status updates to downstream systems.

Reporting

Use reporting to track outstanding signatures, average completion times, and audit-trail exports for compliance or internal audits.

Frequently asked questions about preparing and signing the model

Answers to common issues that arise when completing, distributing, and storing a Business Discovery Model.

Need help? Contact support

Can the model be signed electronically?
Yes. Electronic signatures are generally enforceable under the ESIGN Act (15 U.S.C. §7001) and UETA in most states, provided intent, consent, attribution, and retention requirements are met.
When is notarization required?
Notarization is required only when a downstream filing or statute specifically demands it. For documents that will be recorded or that transfer interests in real property, check state recording requirements.
What authentication level should I use?
Choose authentication based on risk: email-only for low risk, SMS or KBA for moderate risk, and multi-factor or ID verification for transactions involving regulated data or high monetary value.
How do I handle PHI in the model?
Limit PHI to identified fields, execute a BAA with the e-sign provider if required, and apply retention rules consistent with 45 CFR §164.530(j).
How do I correct an executed model?
If material changes are needed after signing, prepare an amendment or replacement document and obtain fresh signatures rather than editing a signed copy.
How long should I keep signed copies?
Retention depends on use and regulation; follow the retention timeline above and preserve the audit trail to satisfy IRS, HIPAA, or other regulator requirements.

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