Deep-Diving Systems of Agreement: How to Prepare Documents Efficiently
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 will contextualise each of the four stages of a fully digital System of Agreement platform.
The first stage is Prepare. During the Prepare stage, numerous contributors create and review content in an almost entirely manual process of unpredictable duration. To be fair, word processing and email did wonders in bringing this process into the 20th century. Unfortunately, we are now almost two decades into the 21st century, and frankly, most enterprises have nothing new to show for it, just more and more email clamouring for more and more attention.
Preparing documents manually is a headache
No contract comes ready. Before it is ready for signature, it is always necessary to adapt it to the needs of the parties involved, identifying subjective and objective elements such as information about the each signatory, the legal capacities and legitimacy, as well as including values and clauses.
However, the vast majority of ready-made models taken from the Internet do not fully meet the requirements of the agreements and are not legally appropriate, which may jeopardise the relationship established therein and even cause legal problems.
Prepare documents with a high degree of automation
Now it is possible to:
- Create a document in a productivity application like Microsoft Word or Google Docs, then easily transfer the document into an agreement process.
- Provide industry-approved agreement templates, such as those required in real estate.
- Pull data from systems of record—like CRM, HCM, and ERP—to automatically populate parts of an agreement, such as customer, product, and pricing information.
- Automatically generate an agreement with content blocks that dynamically configure themselves based on, for example, the signer’s geographic region.
- With a wizard-like experience, guide the signer to provide information necessary to automatically create an agreement customised to his or her needs, such as for a loan application.
- Allow multiple parties to collaborate and comment on the draft agreement in real time, so the deliberations are retained as part of the agreement’s legally admissible record.
- Also, we noticed that the camera is one of the biggest sources of document insertion within our very own DocuSign app. From this, one of our latest innovations to streamline and facilitate the preparation of documents was Mobile Document Scanning, which makes it easy to scan, cut, resize and even add pages to the same document that will be imported to the DocuSign platform.
A contract that has problems in its preparation is bound to have problems until the end of its lifecycle. Therefore, simplifying both the creation of the document and the completion of information are essential procedures to streamline this initial step of the process, leaving it ready to be signed more quickly and securely.
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 next step: Sign.