From a basic quote to replace your air conditioner to a 500-page tender to manage major roadworks, business agreements come in all shapes and sizes. And every business, big and small, relies on these systems of agreement to keep their wheels in motion.

Problem is, many systems of agreement aren’t modernised for the speed of today’s business. Rather, they still rely on paper, printer ink and postal services – things that are now seen as somewhat prehistoric in the business world.

Indeed, a recent survey of 300 Australian businesses showed that the average worker spends an average of three hours on paper-based processes every single day, with an average of 135 hours per month of company time wasted shuffling paper around. Companies run on agreements, and these paper-based processes are holding them back. Not only that, but today’s digitally-savvy customers expect more from you than a piece of paper in the post.

Old-school agreement processes are changing

At the DocuSign Momentum Sydney event in October, 2019, DocuSign COO Scott Olrich revealed why DocuSign has moved on from just eSignatures and how the agreement process is changing.

He said that, while eSignatures will always be at the core of the business, DocuSign is now about so much more. “Every company, big and small, has a system of agreement whether they know it or not. They all have to prepare them, get them signed, act on them, and manage them. And every company needs to be easier to do business with, easier to work for, and kinder on the environment.”

As we’ve noted before, here are some of the most common types of agreements in circulation today:

In many cases, sophisticated cloud-based apps and tools sit behind these agreements – yet the agreement itself remains manual, un-trackable and disconnected.

Enter the DocuSign Agreement Cloud. According to Scott, DocuSign Agreement Cloud is “here to make the world more agree-able” by helping companies modernise their systems of agreement. It digitally connects, automates, accelerates and simplifies the way companies prepare, sign, act on and manage agreements – acting as a crucial link between existing apps and business systems, and end users.

The DocuSign Agreement Cloud enables companies to get more bang for their buck, having no doubt already invested heavily in other front and back office systems and core applications. It ensures that the last step in these systems’ processes – such as a sales contract, event registration form, legal document, grant application or whatever else drives your business forward – is digitised.

Scott cited the example of an HR system. A company may use a sleek, professional HR tool to manage hiring and firing. But if they still post out an offer letter to a prospective employee, then they are failing at that last crucial step. By simply integrating DocuSign with the HR tool, the company transforms its agreement process to improve the experience and increase the likelihood of the prospect signing on the dotted line.

Proof in the pudding

The fact that DocuSign is one of the fastest growing tech companies in the world today – and is set to surpass $1 billion in revenue in 2020 – is a clear indication of the growing importance companies are placing on their systems of agreement. Bringing their agreements into the twenty-first century is no longer a nice-to-have, it’s a must-do – and the smartest companies are realising it.

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