DocuSign contract signing

Contract management: Digital transformation with Docusign

Challenges and advances in the digital transformation of contractual agreements and agreement processes.

Contracts are the essence of any business, but the processes put in place are still manual and generate many bottlenecks. 9 out of 10 companies are slowed down by their agreement processes. These inconveniences result in poor customer experience, project delays and increased costs.

The Forrester study, sponsored by DocuSign, combined surveys and interviews to study agreement processes around the world.

Key findings include:

  • Executives are no longer content with a simple switch to electronic signature, but require complete process management, before and after signing, to create an automated end-to-end flow.
  • For the second year in a row, the customer experience remains a top priority in the agreement process.
  • Digital tools are increasingly being adopted, but poor preparation and integration result in an accumulation of one-off and ineffective solutions.

Contracts are the essence of any business, but the processes put in place are still manual and generate many bottlenecks. 9 out of 10 companies are slowed down by their agreement processes. These inconveniences result in poor customer experience, project delays and increased costs.

The Forrester study, sponsored by DocuSign, combined surveys and interviews to study agreement processes around the world.

Key findings include:

  • Executives are no longer content with a simple switch to electronic signature, but require complete process management, before and after signing, to create an automated end-to-end flow.
  • For the second year in a row, the customer experience remains a top priority in the agreement process.
  • Digital tools are increasingly being adopted, but poor preparation and integration result in an accumulation of one-off and ineffective solutions.

 

What are the challenges organizations face in managing contract signings?

 

  • 56% said they often lacked visibility into the status of their current agreements, which may include new commercial contracts or employee contracts.
  • 48% said the process of signing their contracts was delayed due to errors or missing information.
  • 41% indicated that the experience for clients was poor due to difficulties in the process of signing agreements.
  • 41% reported delays in getting and obtaining signatures in the correct order.
  • 38% said they had concerns about the legality of electronic signatures.

 

Only 35% of respondents said that their process of verifying the identity of contract signatories was very effective, and only 24% of respondents indicated that their process of obtaining signed agreements was very effective.

 

How do organizations overcome the difficulties encountered in the process of signing agreements?

 

The implementation of electronic signature is an essential part of any digital transformation strategy. This is a typical way for organizations to take their first step towards digital transformation by scanning signatures before connecting registration systems for the pre- and post-signature process. The use of electronic signatures is becoming a common practice, with interviewees indicating that 68% of contracts signed within their service use electronic signatures. However, many use this technology only in certain departments rather than in the organization as a whole. . They should consider extending this technology to different workflows for full signature automation. 49% said they could send agreements to sign directly from a customer relationship management system.

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