- To help teams understand the benefits that real customers are getting from Docusign CLM! we commissioned Forrester Consulting to analyze the broader impact of the technology. This post summarizes the results! but you can also download the full study The Total Economic Impact™ of Docusign CLM .
Docusign CLM transforms organizations by improving contract processes
Before adopting Docusign CLM ! the teams interviewed by Forrester had no tools in turkish whatsapp number place to connect steps throughout the contract process. Manual work across disconnected systems led to issues related to inefficiencies! human error! version control! and poor visibility.
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Teams were missing automatic renewal dates and putting their contracts at unnecessary risk. They agreed to different basic terms in different contracts! creating new problems as work progressed.
At the organizational level! these frustrations increased operational costs! reduced the value of completed contracts! and delayed revenue from new leads. Employees wasted time manually creating reports that combined information from multiple technologies. Some contracts disappeared due to poor storage practices.
According to the Forrester study! “respondents said that after investing in Docusign CLM! their organizations experienced significant improvements in efficiency! transparency! and compliance across all contract management processes.” Their contracts were completed much faster and executed sooner. They were even able to use historical data to improve negotiations with suppliers! so that their terms were more favorable .
Contractual improvement translated into quantifiable savings
Adopting Docusign CLM improved both the efficiency of the contract process and the quality of contracts. Together! those gains can create millions of dollars in savings. Here are some of the benefits experienced by the composite organization:
- Faster contracting: By centralizing! standardizing! and automating the contract process! Docusign CLM customers dramatically improved their speed from start to finish. The customer experienced a 90% reduction in contract generation time! allowing employees to use their time more productively and increase the volume of contracts they can complete.
- Accelerated revenue: One of the easiest ways to increase profits from contracts is 10 steps to a quality email strategy to complete them faster and get revenue sooner. With more contracts completed and a shorter lead time on each contract! the overall effect is more money today and less delay in generating revenue until tomorrow.
- Reduced risk: When contract data lives in different locations with varying levels of security! the risk of losing it or accidentally exposing it to a breach increases. CLM ensures that contract data is in one central system! with much greater visibility into all the ways it’s connected to other data.
- Reduced value leakage from contracts: Value leakage occurs when suboptimal contract language or execution decreases the total revenue generated by contracts. CLM reduces leakage in several ways! european union email list such as consistency of contract terms! reduction of errors through automated data entry! improved decision making through increased visibility! etc.