Docusign CLM Year in Review: Customer Wins and New Features

The beginning of a new year is always a good time to reflect on the journey we’ve shared with our Docusign CLM customers, partners and team members. It’s been a year of growth and innovation—a testament to our collective commitment to improving agreement management for everyone. In this 2023 annual recap, we invite you to join us as we look back on trends, customer successes and recent innovations that have shaped our contract lifecycle management path. You’ll also get a glimpse into what lies ahead.

Here’s a summary of Docusign CLM’s key moments in the last year:

Docusign customers used CLM to accelerate time to revenue, optimize agreement value and eliminate unnecessary risks.

• Compared to other solutions, Docusign CLM customers are twice as likely to complete contracts in short order: Almost half (48%) of Docusign CLM users (compared to 24% of other CLM users) say the typical contracting process takes less than two weeks. For example, Flowserve, a 200-year-old manufacturer, automated its full agreement lifecycle with Docusign to accelerate legal review by 40%. 

• Individual employees and lines of business see quick value from Docusign CLM: With rapid growth comes rapid increases in contract volume and complexity, a shift that Genuine Parts knows all too well. The automotive parts distributor got its start in 1928, with six employees in Atlanta, Georgia. Today, it operates in 17 countries with more growth on the horizon. Docusign CLM facilitates nearly a dozen of their agreement management use cases across five departments and they saw value quickly after this global expansion, like increased contract efficiency and accelerated contract review cycles.

• Docusign CLM customers create better, and less risky agreements faster: With Docusign CLM, Consor achieved greater efficiency and control over the end-to-end contract process, enabling the company to meet its goal of a 72-hour turnaround from contract request to execution. The greatest impact Consor has seen is improved adherence to policies that have always been in place but were previously difficult to enforce, resulting in higher quality, lower risk agreements.

Docusign released several new innovations to make agreements smarter, easier and more trusted than ever before.

• Real-time collaboration: Speed up contract review with our new comment capabilities that support multiparty negotiations. Users now have the ability to collaborate in real time by leaving comments and assigning workflows directly from an agreement.

• Docusign Monitor integration: Provide deeper, real-time visibility into CLM user activity to protect your agreement data. Admins can now evaluate user behavior with rules-based alerts, investigate security incidents and proactively prevent unwanted risks.

• AI Labs: Access a safe and secure portal for AI innovations where learning, evaluation and experimentation occur. Summarize documents, get simple explanations of complex causes and receive clear answers to questions you’ve asked about an agreement's content. This agile environment is a secure, trusted space to engage with generative AI, learning what it does well and how to utilize future AI-enabled capabilities to maximize value. Available in North America only.

• Advanced template editing in Microsoft Word: Customize agreement templates in CLM Essentials with more flexibility by formatting them using Microsoft Word. 

• Agreement reminders: Set document-level reminders in CLM Essentials to stay ahead of important contract milestones. 

• Salesforce Financial Services Cloud (FSC) integration: Allows financial institutions to streamline onboarding processes, simplify loan applications and enhance customer service experiences with Docusign CLM.

Docusign was named a Leader in the 2023 Gartner Magic Quadrant for Contract Life Cycle Management, with several specific areas of noteworthy excellence.

• Continued innovation in the contract management space and a deep understanding of evolving customer needs and challenges. 

• Robust Salesforce functionality: Docusign’s co-development with the Salesforce product team allows customers to leverage data from any Salesforce object and receive real-time agreement updates in Slack.

• Market leader: Docusign is the largest CLM vendor (currently 1800+ customers, the most of any tool in the study) with a full suite of solutions catering to every segment of the market.

The best part? There’s so much more to come in 2024, too!