Businesses routinely face challenges related to delayed deals, cumbersome signup processes, and financial losses due to vendors not meeting contractual obligations. These challenges collectively result in substantial losses of time, money, and opportunities. A major contributor to these issues is the reliance on antiquated agreement management practices that use traditional tools such as word processors, emails, and basic digital storage. While drafting, negotiation, and management of agreements remain inefficient and time-consuming, completed agreements also typically end up as unstructured, isolated files that are difficult to access and integrate with core business functions. According to a study by Deloitte, this inefficiency leads to an annual loss of $2 trillion in global economic value and countless wasted hours.

This presents a pressing need for a transition to an end-to-end agreement management system that enables businesses around the world to break free from, what Docusign is calling, the Agreement Trap and supports users at all process steps by leveraging AI to automate manual work.

Docusign has launched an Intelligent Agreement Management (IAM) platform, Docusign IAM, establishing a new SaaS category designed to revolutionize agreement processes. Docusign IAM promises to transform agreement processes and their integration with business systems, offering improvements comparable to those brought by CRM, HCM, and ERP systems, which revolutionized sales, HR, and resource management through integration. This expansion not only extends Docusign's strategy but also positions Docusign IAM as a leader in the newly minted category of Intelligent Agreement Management, setting a new standard for how businesses handle their contractual obligations.

Docusign’s innovative platform aims to enable businesses of all sizes to create, commit to, and manage agreements more efficiently. By integrating advanced AI, Docusign IAM enhances the speed of contract creation, improves negotiation outcomes, and provides valuable strategic insights for managing agreement portfolios. The platform enables companies to create agreements collaboratively and automatically while integrating with systems like SAP; allowing for faster, more secure commitment to agreements, enhancing the experience for customers, partners, and employees; and facilitates effective management of agreements by unlocking critical contract data, maximizing value, and minimizing risks.

The new functionalities include tailored applications designed for the specific requirements of different individuals, teams, and industries. They feature modular capabilities and a no-code workflow designer that allows businesses to easily create customized agreement process solutions. There is enhanced integration and interoperability with critical business systems to facilitate the flow of agreement data across Docusign and its partners. Additionally, a single, intelligent repository will centralize the storage, management, and analysis of agreements within an organization, unlocking data to improve efficiencies, reduce costs, and minimize risks.

Docusign IAM introduces new platform services to enhance agreement management:

Docusign Navigator: This is a smart repository that not only stores but manages and analyzes agreements from any source. Powered by Docusign AI, Navigator converts unstructured agreements into structured data, facilitating quick access to vital information and insights. This helps eliminate time wastage, revenue loss, and risk exposure from poor visibility of agreements, improving organizational efficiency, cost reduction, and security.

Docusign Maestro: This service enables the creation of customizable agreement workflows tailored to specific needs without any coding. Docusign Maestro simplifies workflow creation by allowing users to configure custom workflows in minutes, integrating Docusign features like eSignature and ID verification with third-party apps, enhancing business processes. It also plans to include pre-configured recipes for common scenarios such as onboarding and compliance.

Docusign App Center: Extending its ecosystem, the App Center allows users to discover, install, and connect a broad array of apps to integrate existing systems into Docusign IAM. This includes integration with platforms like HubSpot, Salesforce, and ServiceNow, and tools like Stripe and various document storage solutions, broadening the functional reach and connectivity of Docusign IAM.

As Docusign expands its Intelligent Agreement Management (IAM) portfolio, it plans to introduce additional applications tailored to various business lines and industry verticals. For instance, IAM for Procurement will enable procurement teams to enhance the source-to-pay process by mitigating risks and ensuring timely compliance with agreement terms. Similarly, IAM for Human Resources will offer seamless employee agreement experiences from hiring through retirement, integrated with key HR tools.

Docusign IAM portfolio will launch in the US in late May 2024 and will extend to other major markets later in the year.