Managing agreements is a critical aspect of any business, regardless of its size or industry. However, most organizations struggle with this process, leading to wasted time, money, and missed opportunities. Deloitte research shows that the agreement management process is challenging, with deals taking longer than necessary to get signed and agreements often being stored in a disorganized manner. This inefficiency results in billions of dollars in lost economic value globally every year due to poor agreement management practices.
The traditional methods of managing agreements have not evolved much over the centuries, leading to a significant gap in efficiency and effectiveness. While technology has allowed for digital storage and electronic signatures, these tools are limited in their capabilities. However, a new era of Intelligent Agreement Management is on the horizon, powered by AI and advanced analytics. Companies like Docusign are leading the way in this new SaaS category, offering solutions to help businesses create, manage, and analyze agreements in a smarter and more efficient manner.
The potential impact of Intelligent Agreement Management is significant, with the ability to help businesses operate more efficiently, reduce costs, and drive revenue growth. By leveraging AI and advanced technology to modernize agreement management processes, businesses can unlock valuable insights from their agreements and maximize the value derived from each deal. This shift has the potential to transform how agreements are handled in the business world and recapture some of the lost economic value that results from poor agreement management practices.
Docusign believes that Intelligent Agreement Management is the future of enterprise software and has launched the Docusign IAM platform to lead this new category. By harnessing the power of AI, businesses can streamline their agreement processes, improve compliance, and gain valuable insights from their agreements. With the potential to rival categories like CRM, HCM, and ERP in importance, Intelligent Agreement Management represents a significant opportunity for businesses to enhance their operations and drive growth.
As organizations continue to adopt digital transformation strategies, Intelligent Agreement Management will play a crucial role in helping businesses optimize their agreement processes and leverage data-driven insights to make informed decisions. By utilizing AI and advanced technology to transform how agreements are created, managed, and analyzed, businesses can unlock new opportunities for growth, efficiency, and value creation. The era of Intelligent Agreement Management is upon us, and businesses that embrace this new approach stand to benefit significantly in the ever-evolving digital landscape.
