As it continues to digitally transform how agreements are prepared, signed, acted-upon and managed around the world, DocuSign (NASDAQ:DOCU) today introduced a new solution built specifically for growing organizations to centralize and automate the creating, negotiating and secure storage of their contracts. DocuSign CLM Essentials is a new contract lifecycle management offering designed to democratize CLM by reducing the complexity of contracting technology, and making it more accessible for everyone in the emerging Anywhere Economy.
Announced at Momentum, DocuSign’s annual customer and partner conference, CLM Essentials builds on the company’s CLM offering to further automate the contracting process. Contract automation is critical for growing companies who need to reach aggressive business goals with limited resources. Relying on small legal and operational teams to manually generate, negotiate, execute and manage contracts slows down business, increases risk and frustrates customers and employees. At the same time, many companies do not have the resources and time to implement a technology solution that will take months to set up.
“Prior to the shift to hybrid work, smaller teams might not have felt like their contract processes were unmanageable, especially if they were working just a few desks away from each other. However, in the Anywhere Economy, enabling teams to get contract work done digitally has become critical,” said Antonis Papatsaras, Chief Technology Officer, CLM, DocuSign. “DocuSign is reducing the time and cost barriers that made CLM feel out of reach for many smaller businesses. CLM Essentials empowers companies of all sizes to turn manual, analog contract work into streamlined digital workflows.”
CLM Essentials offers growing small and midsize businesses the perfect starting point to begin their contract management journey with a streamlined solution that allows them to quickly realize value, and also scales with them as their needs grow and evolve. That quick start is possible as CLM Essentials has templatized and streamlined the heaviest lift components of a typical contract management implementation. Features include:
- Document generation template builder: CLM Essentials customers can easily upload existing contracts and convert them into dynamic generation templates. Users can then revise those contracts in the online editor, rearrange fields that can be pulled from Salesforce upon generation and create conditional logic rules to swap out language when certain criteria are met.
- Contract process builder: Instead of starting with a blank canvas, CLM Essentials offers pre-configured, templatized workflows that cover the most common contract processes.
- Best-in-class Salesforce integration: CLM Essentials allows customers to seamlessly accelerate contract work and the quote-to-cash process via a deep integration with Salesforce.
“Many CLM vendors aspire to bring their solutions downmarket, but DocuSign seems positioned to do so. Considering its extensive customer base of SMB and mid-market organizations, DocuSign understands what customers downmarket need and expect from a contract vendor,” said Ryan O’Leary, IDC. “DocuSign already has the technologies, services and go-to-market motions in place and should enable them to differentiate and cater uniquely to this market segment.”
Existing DocuSign eSignature customers now have a more streamlined and cost-effective way to start automating and connecting the steps that happen before and after an agreement is electronically signed. If a customer’s needs become more complex over time, they can upgrade to one of DocuSign’s other CLM offerings, transferring any work configured in CLM Essentials with a simple click.
