DocuSign drives growth with automated contract management
It is a given that any successful organisation will grow and expand. With this, those in procurement and contracting face the complex challenge of managing increasing volumes of agreements.
“But usually don’t receive new resources to handle the extra work,” explained DocuSign. “contract approvers are stretched to document those activities without the right tools. In the early stages of growth, email inboxes, spreadsheets and local storage will do the job, but those tools break down at scale.”
This is where an effective contract lifecycle management (CLM) solution can help these functions navigate complex environments.
However, DocuSign warms: “too often these CLM solutions include a more complex feature set than a growing company needs to get started, which requires more money and implementation time than they have to invest. Organisations are left with a goldilocks problem—forced to choose between no CLM technology at all and a platform with far too many features. There needs to be a middle ground.”
How DocuSign is helping organisations find the ‘middle ground’ in contract management
Announced by DocuSign, the company has launched its latest tool, ‘DocuSign CLM Essentials’. The contract management tool has been specifically designed for growing organisations to centralise contracts, standardise agreement processes, and eliminate ‘busywork’ with automation.
“CLM Essentials is designed to get you started with a CLM solution in weeks not months, offering fast results and the opportunity to expand further if needed,” said DocuSign.
What can a CLM tool provide an organisation?
In simple terms, a CLM tool simplifies the contract agreement process by standardising contract work, automating manual contract processes, and centralising contract activity in a single platform.
“With a CLM tool, any team can quickly organize their library of existing contracts and create a more concrete process to manage all future contracts. It’s an easy way for sales and legal teams to collaborate together with clearly defined contract steps, automated handoffs and less ‘busywork’. The result is faster, more secure business transactions,” explained DocuSign.
Five signs that your organisation needs a CLM solution
- Are your contracts and processes complex?
- Do you have standardised processes for your contracts?
- Do your agreements involve multiple stakeholders?
- Do your contracts need to be analysed after they are completed?
- Are you still using paper processes?
Having one or all of these signs within your organisation can lead to an inefficient contracting process, therefore, having a CLM solution designed to work as a central hub to standardise contract workflows, automate common steps and organise the archive of completed contracts, can be beneficial for a growing organisation.
- 78% of procurement execs recognise the importance of Scope 3Sustainable Sourcing
- How committed is construction to sustainable procurement?Sustainable Sourcing
- CPOs 'can drive sustainable & profitable construction'Procurement Strategy
- It’s inevitable that we will market to suppliersProcurement Strategy