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Docusign yesterday unveiled Docusign IAM, an intelligent agreement management platform aimed at expediting contract reviews and providing businesses with actionable insights into their agreement data.
Trying to Take the Pain Out of Contracts
The launch marks Docusign's expansion beyond the world of e-signatures and into the contract space. The company cites the launch as the first of a new SaaS category devoted to AI-boosted agreement management.
With Docusign IAM (IAM = intelligent agreement management), businesses can create more automated and collaborative agreements that can integrate into systems such as customer relationship management and enterprise resource planning. The company says it provides a more secure and efficient process for contract commitments, and will give businesses the ability to manage agreements with partners and customers while mitigating unnecessary risks. Services included in Docusign’s IAM platform include:
- Docusign navigator — Powered by Docusign AI, navigator allows users to effectively transform unstructured agreements into structured data, making it easier for users to search the database for agreements, access vital information quickly, maintain compliance and gain valuable insights from their agreements.
- Docusign maestro — Users can combine Docusign capabilities like e-signature, ID verification and data verification with third-party apps to connect to their business processes and configure custom workflows.
- Docusign app center — Users can utilize a wide range of applications to integrate their existing systems into Docusign IAM, including Hubspot, Salesforce, ServiceNow, Dropbox, Google Drive, Microsoft OneDrive and Sharepoint, with additional applications to come.
AI Enters the Contract Space
The artificial intelligence layer in Docusign IAM will be there to provide summaries and highlights of agreements, as well as flag potential problem areas. Unlike most generative AI systems, the capability will not extend to content creation — namely, contract creation — at least not for now. The feature is based on Azure OpenAI Service.
The rollout of Docusign IAM is geared towards specific lines of business such as IAM for Sales and IAM for Customer Experience. Additionally, IAM Core will offer customizable solutions to teams outside of sales or customer service. At a later date, Docusign intends to expand its IAM applications to include Procurement for a streamlined source-to-pay process, and Human Resources to integrate Docusign and key HR tools.
The initial three Docusign IAM services are expected for U.S. customers by the end of May, followed by major market expansion later this year.
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