Simplify your agreement lifecycle with DocuSign CLM
Is your business getting bogged down in contract paperwork? You’re not alone. Contract lifecycle management (CLM) is a hot topic for managers and teams tasked with initiating, sending, approving and managing contracts.
We recently hosted a webinar on the topic, exploring some of the key issues organisations face when it comes to CLM – and how DocuSign CLM can help to improve efficiency, reduce effort, mitigate risk and more. The webinar also included a deep-dive chat with one DocuSign CLM customer, Melco, on how they are using technology to transform business processes.
In case you missed it, here are the highlights. Or, you can watch the full webinar on demand.
The current agreement process
Our regional CLM expert, Yolanda van den Berg, Pre-Sales Solution Architect, DocuSign, opened the session with an overview of the current state of play with contract lifecycle management.
As Yolanda explained, organisations across industries are trying to transform how they do business, including signing and execution of contracts digitally. But pre- and post-signing, many are still saddled with manual processes. Even the most common contract scenarios become complex simply due to the fact that they are manual and disjointed.
Indeed, when contract management is manual, it becomes a drag on business performance. As the webinar showed:
- 65% of companies experience delays in closing deals and realising revenue
- 49% struggle with compliance and risk
- 45% cite a poor customer experience due to inefficient and manual processes
Introducing DocuSign CLM
In response to the fact that legacy CLM systems are siloed, hard to implement and difficult to maintain, DocuSign has introduced DocuSign CLM – a straightforward, easy-to-use and scalable system that entire organisations can embrace for streamlined configuration, an intuitive user experience, and enterprise-wide standardisation of business processes.
Importantly, DocuSign CLM enables:
- Automation of manual tasks – generating agreements, facilitating negotiations, tracking redlines, and ensuring version control
- Orchestration of complex workflows – connecting and tracking business processes across contributors, reviewers, approvers and more
- Elimination of unnecessary risk – standardising and analysing the contract process while centralising and securing agreements in a central repository
All this helps explain why DocuSign has been named a leader in CLM.
Customer spotlight: Melco
We then welcomed Thomas Leung, VP, Corporate and Construction Counsel, at Melco Resorts & Entertainment to the floor, along with our own Nick van Breda, Regional VP - Asia, DocuSign.
Based in Hong Kong, Thomas looks after legal affairs at Melco for Construction globally; and is also heavily involved in the digitisation of contract management. As Thomas said, “We are always looking for ways to stay ahead of the game in a very competitive industry. We realised there are a lot of areas where time and effort are wasted on manual tasks, and this has a much wider impact on the business.”
Melco had been looking at CLM solutions for some time. It saw in DocuSign a long-term partner that was flexible enough to grow with the business; a team that was great to work with, who would always be available to find ways to solve problems. Melco saw how DocuSign CLM could cut out a lot of manual processes, from initiating contracts to reviewing and approving them; and how easy the solution would be for the wider team to adopt.
“We had already introduced eSignature. With DocuSign CLM, we’re taking a further step towards digitisation. It’s not just about cost-cutting, and definitely not about replacing human beings! It’s more about helping us overcome challenges; and helping our business and legal teams to focus more on negotiating better deals than getting bogged down in paperwork.”
Melco is using DocuSign CLM to standardise contracts, particularly those high-volume contracts the team use day to day. They are also using it to standardise workflows, helping eliminate ad-hoc processes that can lead to errors. And through using DocuSign CLM as well as its integration with other systems, they are using technology to help with centralising storage and sharing of information that teams need to manage contracts and make critical business decisions every day.
Diving into a demo and Q&A
Around the 30-minute mark of the webinar, Yolanda took us through a demo of DocuSign CLM to show how a contract is set up, distributed, approved and signed. Take a look to see how easy it is to generate a contract, negotiate with redlines and more.
The webinar finished with a 20-minute Q&A, with a range of insightful questions from listeners – mainly around the mechanics of the platform and how different teams can use it. As the questions clearly demonstrated, listeners were thinking about the opportunities DocuSign CLM delivers to organisations and the people they send contracts to.
Watch the webinar now to get all the answers on DocuSign CLM and to see for yourself how it could help transform contract management in your business.