Docusign and its channel are enjoying sales growth from intelligent agreement management (IAM) software.
Allan Thygesen, chief executive at Docusign, indicated Docusign IAM capabilities are attracting customers looking for transformation and innovation.
“In Q3, early IAM momentum outpaced expectations,” he said.
“We continued to drive improvement in our core business with strong revenue growth and operating profit.”
Docusign drove revenues up eight percent year on year to $754.8 million (£605m) in its third quarter, which ended 31 October 2024.
Subscription revenue was $734.7m, an 8% year-over-year increase. Professional services and other revenue was $20.1m, up 11% from Q3 2023.
“Docusign delivered powerful new innovation for customers highlighted by new capabilities,” Thygesen added. “We saw sustained momentum in new customer growth at 11% year-over-year to 1.6m customers.”
Intelligent agreement management opportunity widens
IAM was helping increase sales, including through partners.
New Docusign capabilities attracting attention include Maestro, App Center, CLM Connector for SAP Ariba workflow automation, and Navigator.
For Navigator, AI capabilities acquired with Lexion include contract lifecycle management (CLM). Users can develop insights from more types of agreement.
Additionally, Navigator can import documents from cloud storage. This includes the likes of Dropbox and Microsoft OneDrive, the vendor said.
“AI-assisted review was launched. Availability for Microsoft Word allows for AI-generated markups, language recommendations, and [answering] questions.”
Thygesen added: “We’ve set our sights on delivering transformational value for our customers with the Docusign IAM platform. It’s early days in the multi-year IAM journey, but we have taken strong initial steps.”
Docusign estimates that businesses lose $2trn annually from inefficient agreement management.
Also, as the vendor deploys IAM at enterprise department level, it expects to build on existing large-customer use cases through both direct and partner channels, Thygesen said.
Further remarks are available here.
( Photo by Kelly Sikkema on Unsplash )
