Cox Automotive Drives Faster Revenue Growth with Docusign

If you've ever been in the market for new wheels, you’ve probably crossed paths with Cox Automotive. Its well-known consumer brands include Autotrader, Kelley Blue Book and Manheim. Cox also operates several behind-the-scenes brands that help dealerships deliver a seamless online-to-offline experience. 

“We’re transforming the way the world buys, sells and owns cars,” said Wendy Rocco, head of contract operations.

Rocco came on board to tackle inefficiencies within the contracts team, starting with complex lender agreements that were being managed via email and spreadsheets. These agreements took three to six months—sometimes up to a year—to get over the finish line.

“It became a nightmare for my team to keep up with where the agreement was and to actually complete the updates with so many people touching it,” said Rocco. “That’s what led to the decision to move to Docusign.”

Docusign gives Cox and its customers a central hub to collaborate more effectively, track progress and move agreements faster.

Escaping the agreement trap to unlock efficiency

Pressure to resolve contracting inefficiencies reached a pinnacle when Cox executives called a high-stakes meeting during the pandemic. The topic: Why do our contracts take so long?

“They were getting multiple calls from very large clients,” said Rocco. “And from an internal standpoint, it was taking us too long to get to revenue.”

The issue was part people: the legal team was spending excessive time on terms and conditions that fell outside their expertise; part technology: the lack of transparency led to delays in approvals.

The path forward was clear: centralize contract management to streamline workflows, improve visibility, and help sales teams close deals faster.

Cox ultimately chose Docusign CLM for its versatility and seamless integration with both Salesforce and eSignature, which enables nearly 3,000 sales users to easily generate and send quotes, proposals, and other sales agreements with just a few clicks from their CRM. 

Meanwhile, contract and legal teams can use CLM independently to simplify negotiations, automate the review of standard clauses, terms, and conditions, and maintain full control over complex lender agreements that involve heavy redlining and sensitive data.

Cox also hired four additional contract managers to alleviate the workload on the legal team.

Fast-tracking ROI

For Rocco, the true marker of success is silence: “I never heard from a senior executive again,” she said. “I’m no longer getting any phone calls saying, Wendy, where's our contract? That says it all to me.”

The combination of human expertise and the efficiencies gained from Docusign resulted in rapid ROI: Execution time improved from an average of 80 to 55 days. The number of agreements executed per month increased from 20 to 31, and the additional revenue generated was four times greater than the cost of the new contract managers Cox brought on.

“When I show people those numbers, they almost don’t believe me because it sounds too good to be true,” said Rocco.

Now, sales teams get to revenue faster. Legal teams gain insights into contract performance and risks. Executives can expedite approvals with all necessary signatures and reviews in one place. And contract managers can pinpoint bottlenecks and prioritize contracts based on their revenue potential. 

Building sustainable momentum

“Docusign is a game changer,” said Rocco. Cox’s partnership with Docusign not only drives operational efficiencies but also supports a digital-forward strategy that's enhancing the customer experience and helping the company reach its goal of becoming carbon and water neutral by 2034.

After the lender group's successful rollout, positive word of mouth spread fast. Rocco is building on the momentum by bringing CLM to other retail divisions within Cox Automotive.

“The transparency, the reporting, the workflows—all of it makes my life and my people’s lives so much easier,” said Rocco. “You cannot ask for a better product or a better partner than Docusign.”