DOCUSIGN UNVEILS NEW VISION AND CREATES SAAS CATEGORY WITH AI-POWERED “INTELLIGENT AGREEMENT MANAGEMENT” PLATFORM
Docusign builds on 20+ years of innovation in eSignature, Contract Lifecycle Management, and more, launching Docusign IAM to help businesses recapture $2T lost in annual global economic value*
LONDON, Apr. 11, 2024 — Docusign (NASDAQ: DOCU) today announced a significant expansion of its company strategy, opening up a new SaaS category — Intelligent Agreement Management — and unveiling Docusign IAM, an intelligent agreement management platform and suite of applications to lead that category.
The launch of Docusign IAM is a significant expansion of the company’s vision and strategy, building on more than 20 years of innovation in areas like e-Signature and Contract Lifecycle Management. The company currently serves more than 1.5 million customers and more than a billion people in more than 180 countries. Docusign IAM will help businesses of all sizes and kinds transform agreement data into insights and actions, accelerate contract review cycles, and boost productivity organization-wide.
“Agreements are the foundation of every stage of business, but the way people manage them is stuck in the past,” said Allan Thygesen, Chief Executive Officer at Docusign. “Poor agreement management and outdated systems cost businesses time, opportunity, and nearly $2 trillion (£1.5 trillion) in global economic value every year. Intelligent Agreement Management will help change that, helping businesses all around the world operate more efficiently and grow revenue more quickly.”
THE AGREEMENT TRAP
Most companies today have fallen into the “Agreement Trap,” where outdated agreement systems and processes slow your business down and trap business-critical information inside static, flat files, unconnected to existing systems of record.
The cost of these disconnected systems and processes is significant. An upcoming study from Deloitte estimates that, on average:
- 25,000 hours are wasted every year, per function, when developing agreements. • 6,000 hours are wasted every year organizing, storing, and managing agreements. • 14,000 hours are wasted every year analyzing agreements for insights.
In total, $2 trillion in global economic value is destroyed every year because of poor agreement management.
A NEW SAAS CATEGORY: INTELLIGENT AGREEMENT MANAGEMENT
Docusign IAM is the first entry in an emerging enterprise SaaS category: Intelligent Agreement Management. Just as categories like customer relationship management (CRM), human resource management (HRM), and enterprise resource planning (ERP) leveraged the internet to modernize sales, HR, and resource management, platforms like Docusign IAM will use AI to bring the agreement management process into the 21st century.
“Docusign is taking a fresh look at the agreement technology space with their new announcements around Intelligent Agreement Management,” said Ryan O’Leary, Research Director at IDC. “This announcement shifts Docusign into a modular platform approach which should deliver more value to customers by allowing customers to support their own unique organizational challenges.”
THE DOCUSIGN IAM PLATFORM + APPLICATIONS
Docusign’s vision for ‘Bringing Agreements to Life’ has at its center the new IAM platform and applications which seamlessly connect the different components of the agreement management process. These leverage custom AI to speed up contract creation, enhance negotiations, and provide
strategic insights to manage your agreement portfolio. These new capabilities mark a radical change in the value that organizations can now gain from their agreements.
“Recent advances in AI, when combined with our deep experience in the agreement space, have allowed us to build powerful new capabilities for businesses of all kinds,” said Dmitri Krakovsky, Chief Product Officer at Docusign. “The Docusign IAM platform and the applications powered by that platform will drive real business impact for our customers, in a way that wasn’t possible before.”
With Docusign IAM, companies of all sizes will be able to:
- Create agreements in a way that is collaborative, automated, and integrated with all their business processes and systems like CRM, HRM, and ERP.
- Commit to agreements faster, more securely, and with a better end customer, partner, and employee experience.
- Manage agreements by unveiling the information hidden within, unlocking value, and reducing unnecessary risk.
These new capabilities will be made possible by the new platform services that will be part of Docusign IAM:
- Docusign Navigator is a smart repository that enables organizations to centrally store, manage, and analyze agreements from any source. Navigator is powered by Docusign AI and effectively transforms unstructured agreements into structured data. With this data unlocked, Navigator makes it easy for users to find agreements, access vital information quickly, and gain valuable insights. No more wasted time, lost revenue, and unnecessary exposure to risk due to a lack of agreement visibility.
- Docusign Maestro helps you create flexible, customizable agreement workflows that are fine-tuned to your needs without needing to write a single line of code. With Docusign Maestro, you can configure custom workflows in minutes — combining Docusign capabilities like eSignature, ID verification, and data verification with 3rd party apps to connect to your business processes. Or you can leverage our pre-configured recipes built to address common use cases like customer, vendor and employee onboarding, and KYC compliance requirements.
- App Center, a new integration hub, designed to make every part of your agreement process work for you. Building upon our ecosystem of developers and partners, you can now easily discover, install, and connect a wide variety of apps to integrate your existing systems into Docusign IAM. You can connect HubSpot and Salesforce to record customer information, ServiceNow to trigger a new workflow, Quik! to extract agreement data, Stripe to generate a payment subscription, or archive completed documents with Box, Dropbox, Google Drive, Microsoft OneDrive or Sharepoint, and Prisidio – with more many apps to come.
AVAILABILITY
The Docusign IAM platform will be available to customers in the US starting in May, and will expand to Europe later this year.
*Source: Deloitte & Docusign Digital Agreement Management Study, 2024
