DocuSign has revealed plans to shake up the landscape of agreement management with the launch of its new Intelligent Agreement Manager (IAM) platform.
IAM will be a new SaaS offering, and unsurprisingly, the portfolio is set to be boosted with handy injections of artificial intelligence to handle efficiency enhancements.
The company stated that its major product overhaul is a response to customers who find themselves stuck in the ‘Agreement Trap,’ where outdated systems and processes negatively impact operations.
DocuSign reveals new AI-powered SaaS
According to a Deloitte study cited by the company, 25,000 hours are wasted every year when developing agreements, 6,000 hours when organizing, storing, and managing agreements, and 14,000 when analyzing agreements for insights. Poor agreement management is reported to have a $2 trillion cost accordingly.
Rohan Gupta, Principal at Deloitte Consulting, commented: “We've found, through primary research in an upcoming report with Docusign, that companies managing more than 20,000 agreements each year can increase revenue by $44 million or more by improving systems and processes.”
DocuSign IAM introduces three new services, beginning with DocuSign Navigator, a centralized repository for agreement storage, management, and analysis. It also promises to transform unstructured agreements into structured data.
The second, DocuSign Maestro, is a tool that enables businesses to create customizable agreement workflows more easily without the need for coding.
Finally, the App Center will act as an integration hub for connecting with other third-party products. The company’s initial announcement mentioned CRM platforms like Hubspot and Salesforce, payment gateways like Stripe, and cloud storage like Box, Dropbox, Google Drive, and OneDrive.
Two lines will be available – IAM for Sales and IAM for Customer Experience – as well as IAM Core for businesses that don’t fit into one of those two predefined boxes.
DocuSign’s IAM SaaS platform and associated applications are slated for release at the end of May in the US, with plans for expansion into other major markets later this year.
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