Data locked away in everything from quotes to contracts can be turned to business advantage with intelligent agreement management software, according to vendor Docusign.
Docusign chief IAM evangelist Will Spendlove said its intelligent agreement management (IAM) software can benefit the whole sales process, increasing the ability to glean timely insights from data.
“With our integrations, teams can streamline the generation, negotiation and signing of agreements within Salesforce and the Slack platform. This can accelerate your workflows, reduce costs and elevate customer experiences directly where work gets done,” Spendlove said in a blog post.
Much data stored in agreements and documents such as PDFs represents “hidden” business value. Companies can waste some 6,000 hours per year, per function, to organise, store and manage agreements, he wrote.
“Our IAM platform leverages AI and integrations with existing business tools to transform how organisations create, commit to, and manage agreements,” he added.
Docusign promoted its IAM offering at partner Salesforce’s Dreamforce USA event this week.
Agreement intelligence can ease document tasks
Spendlove said that IAM with AI means business insights can be more easily extracted. This can help save staff time and other resources.
“Outdated agreement processes and disconnected systems have a major impact on sales teams,” he added.
“Recent data from Deloitte reveals that nearly $2 trillion (£1.5trn) are lost in global economic value each year due to poor agreement management practices and systems.”
New for Docusign IAM was Navigator, which the vendor described as a “smart repository”. Navigator can help centralise an organisation’s agreements and deliver data-related insights.
Amanda Pearson, senior product marketing manager, said in a blog post that this can help drive efficiencies. IAM can uncover opportunities to reduce costs yet increase oversight and security.
Navigator with Docusign AI identified key agreement attributes, structuring “flat” documents. This can help authorised users search and locate specific agreements and information, Pearson said.
It can be quicker to track non-disclosure agreement expiration dates, for example.
“Agreements are ripe with information. They contain the inner workings of all your strategic relationships. This includes your existing contractual commitments, risks, investments, and spend,” Pearson wrote.
( Image by Phil Reese from Pixabay )
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