DocuSign’s vision is to modernise the Systems of Agreement of companies around the world, automating and connecting everything that happens before, during and after each document is processed through the DocuSign platform.
Our vision is to accelerate the way technologies and processes are used to prepare, sign, execute and manage agreements. In this blog series, we’re contextualising each of the four stages of a fully digital System of Agreement platform.
Digital transformation holds particular promise for this step in the agreement lifecycle. Today, for an agreement’s terms to be acted upon, information must be extracted and entered into a variety of Systems of Record, triggering work orders, inventory purchasing, payments, and the like, as well as into Systems of Engagement, alerting employees, customers, and partners to changes.
When all this is done manually, delays and errors are inevitable, dragging down productivity, not to mention creating the occasional escalation that can put even the most valuable relationships at risk.
Act on agreement terms after signing
A signed contract does not make its clauses magically come true by itself. It is necessary that, after the agreement is reached, the parties involved actually comply with the terms described. This step can prove to be problematic though.
Not being able to continue the life cycle of a contract efficiently and intelligently after signing it may force you to take risks during the fulfillment of the agreements. These problems bring all the work done on the document into question, and risks starting the whole process from scratch.
Manually entering contract information into other systems, for example, gives a great deal of room for costly mistakes that can be caused by minimal inattention or imperceptible oversight. Updating records after each new action, initiating billing, or triggering new processes are also flawed processes that could be easily avoided with the use of a digital document management platform.
Our System of Agreement was developed to solve these problems. With a variety of help resources, intuitive actions and well-defined flows, the DocuSign service allows you to streamline and improve the stage of contract execution.
Understanding how to act on agreements
These activities are about fulfilling the signed agreement’s terms. For example:
- If the contract requires payment, you can automatically transfer the amount to a billing system or even collect the payment directly as part of the signing process.
- If a signatory provides new or updated information as part of the process, you are able to automatically transfer this information to your records system (such as the CRM system, for example).
- Gain the ability to trigger other processes based on the conclusion of the contract, such as provisioning a new customer account.
- Using Salesforce, as soon as a customer enters the PO number during the signing process, that number is recorded. A new instance of the software is also automatically provided to the customer.
- Ensure more speed, security, and efficiency in meeting agreed-upon contract terms, and reduce the rate of dangerous errors in reinserting data after each move required to complete the cycle of a document with DocuSign.
Read all about it
To learn more, read the The Rise of Modern Systems of Agreement, a collaboration between DocuSign’s strategy executives and Geoffrey Moore, author of Crossing the Chasm. It explains how every company has a System of Agreement, but most are not modernised for today’s speed of business.
Symptoms of a legacy System of Agreement include slow, expensive processes due to a lack of automation, disconnected steps that require customers or employees to rekey information you already have, and an inability to monitor or audit for compliance.
There is a better way: a modern System of Agreement. Discover the whats, whys, and hows by reading the white paper, and keep an eye on our blog to understand the final stage: Manage.