Electronic signature company Docusign Inc. today announced an expansion of its strategy with a new software-as-a-service category, called Intelligent Agreement Management, and the launch of Docusign IAM, an intelligent agreement management platform and a suite of applications.

Docusign IAM has been designed to help businesses transform agreement data into insights and actions, accelerate contract review cycles and boost productivity organization-wide. The service seeks to address the issue wherein companies fall into what Docusign calls an “Agreement Trap,” where outdated agreement systems and processes slow their businesses down and trap business-critical information inside static, flat files, unconnected to existing systems of record.

The new service signals Docusign’s move into a broader realm beyond e-signing. As part of that move, the company is rebranding slightly by dropping the capital letter for “sign.”

Docusign argues that there is a significant cost to disconnected systems and processes, citing an upcoming study from Deloitte Touche Tohmatsu Ltd. that claims that $2 trillion in global economic value is destroyed every year because of poor agreement management. This is where Docusign IAM steps in.

The Docusign IAM platform and applications connect the varying components of the agreement management process and leverages artificial intelligence to speed up contract creation, enhance negotiations and provide strategic insights to help companies manage their agreement portfolios. The service allows users to create agreements that are collaborative, automated and integrated with all their business processes and systems like customer relationship management, human capital management and enterprise resource planning.

Using Docusign IAM, users can commit to agreements faster and more securely to deliver better customer, partner and employee experiences. The service allows users to manage agreements by unveiling the information hidden within, unlocking value and reducing unnecessary risk.

The IAM tools include Navigator, Maestro and App Center. Navigator utilizes Docusign AI to convert unstructured agreements into structured data, enabling users to easily search, access, and gain insights from agreements, driving organizational efficiency, reducing costs and increasing security.

Docusign Maestro allows for the creation of customizable, code-free agreement workflows, integrating Docusign’s features with third-party apps to streamline business processes such as onboarding and compliance. The App Center enriches the ecosystem by providing seamless integration with various applications, including HubSpot Inc., Salesforce Inc. and ServiceNow Inc. to promote an interconnected and efficient digital agreement environment.

“Recent advances in AI, when combined with our deep experience in the agreement space, have allowed us to build powerful new capabilities for businesses of all kinds,” said Chief Product Officer Dmitri Krakovsky. “The Docusign IAM platform and the applications powered by that platform will drive real business impact for our customers, in a way that wasn’t possible before.”

Photo: Docusign