Unlock stock picks and a broker-level newsfeed that powers Wall Street.
How DocuSign uses AI to help companies avoid 'agreement traps'

In This Article:

DocuSign (DOCU) CEO Allan Thygesen joins Yahoo Finance's Brian Sozzi to discuss the company’s new product, Intelligent Agreement Management.

Thygesen explains that the new platform can assist companies with every step of the agreement process, aiming to address the “agreement trap,” or the value loss companies are experiencing from agreement-related inefficiencies. In collaboration with Deloitte, DocuSign found the “agreement trap” totals $2 trillion annually.

The new platform employs AI to read agreements and extract the most essential terms, Thygesen says. This allows companies to ensure the key points they spent time negotiating don’t go “to a deep dark place” once signed, the DocuSign CEO explained. While AI was already a part of DocuSign’s existing signature product, this new phase will allow the company to further participate in the “AI moment,” which Thygesen considers to be a watershed similar to the internet’s roll-out.

While the Intelligent Agreement Management platform won’t negotiate contracts for companies, it will help them read agreements received from other parties, point out where the agreement differs from a company’s usual terms, and propose new language.

Reflecting on his tenure as CEO, Thygesen notes the company’s “rejuvenation of innovation culture,” explaining that DocuSign is beginning its journey toward introducing its innovations to the market.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This article was written by Gabriel Roy.

Video Transcript

[AUDIO LOGO]

BRIAN SOZZI: A key moment in the life for DocuSign unveiling a host of new products that are closely watched day for them. Let's bring in DocuSign CEO Allan Thygesen. Allan, good to see you in person. A pretty big week for your company.

ALLAN THYGESEN: Very big week.

BRIAN SOZZI: So what exactly did you launch? I know there's been a lot of focus on some of the new technology. Walk us through it a little bit.

ALLAN THYGESEN: Yes. So what we launched is what we call an Intelligent Agreement Management platform. And what that means is basically helping companies with every step of the agreement process. So just as an example, you would have a lot of salespeople maybe that they've reached agreement, but now it takes several months more to actually get to the finished signed agreement.

You could have that in purchasing where you've signed an agreement with a vendor, but you don't know if they're filling up, they're living up to their commitments. Or in recruiting, you are seeing delays in getting the right candidates signed. All of that are symptoms of mismanaged agreements. And we've launched a platform to help companies address that holistically.