DocuSign, likely the market leader in the digital signature sector, is a Spend Matters 50/50 provider that every procurement organization should know. You may be thinking: Why? Aren’t digital signatures just a simple modern version of an old fashioned John Hancock? Not exactly.
Digital signatures are not just a replacement for approaches that have existed since the first signed document – they are a foundation for much, much more. They can help procurement, finance and supply chain organizations with both hard dollar cost savings (e.g., no paper costs, no printing, no faxing, no overnight delivery fees, no archiving costs, etc.) as well as improving overall efficiency and effectiveness (e.g., cycle-time compression for contracts to implement savings more quickly).
Spend Matters highly endorses electronic transactions over paper approaches not just for efficiency but for a significantly improved user experience for both procurement and stakeholders in the business. Moreover, digital signatures help ensure the validity of various documents that are shared between multiple parties in the value chain, including not just contracts, MSAs and SOWs, but also many other areas.
In addition to core “signing” capability, DocuSign adds workflow that can help build surrounding functional capabilities as well – in many ways making the provider more of a platform for different activities within procurement with the ability to enable a digital signature/seal as a centerpiece of the value proposition. DocuSign also brings embedded capabilities through partnerships with many of the leading contract lifecycle management (CLM) tool providers.
We strongly encourage the Spend Matters community to get to know DocuSign and the power of digital signatures. If you think digital signatures are just a “feature” of software enabled contract management approaches, you’ll be more than surprised what’s possible!