DocuSign Announces the DocuSign Agreement Cloud
SAN FRANCISCO, March 21, 2019 /PRNewswire/ -- DocuSign Inc. (NASDAQ: DOCU) today announced the DocuSign Agreement Cloud, a suite of products and integrations for digitally transforming how organizations prepare, sign, act on, and manage agreements. By helping to automate and connect the entire agreement process, the DocuSign Agreement Cloud allows business to be done faster with less risk, lower costs, and better experiences for customers, partners, and employees.
Included in the DocuSign Agreement Cloud are three new products announced today that simplify and accelerate document generation, identity verification, and click-to-agree scenarios. These are in addition to DocuSign's flagship eSignature product, the recently acquired SpringCM offering for contract lifecycle management, and several other existing DocuSign products.
Also included in the DocuSign Agreement Cloud are hundreds of integrations to other applications that touch the agreement process, such as those by Salesforce, Microsoft, Google, and SAP. Together, this comprehensive suite defines a new category of cloud software that potentially doubles DocuSign's existing total available market to an estimated $50 billion globally.*
This broadening of the company's capabilities comes at the end of its first fiscal year in the public markets, having grown revenue 35% to $701 million in fiscal 2019.
"We are now an agreement cloud company," said Dan Springer, chief executive officer at DocuSign. "We defined the original eSignature category. Now we are doing it again, only bigger, with the category of agreement clouds. Our customers want us to modernize their entire systems of agreement—what happens before, during, and after the signature—and that's exactly what the DocuSign Agreement Cloud is designed to do."
As part of today's announcement, three new products are coming to market as part of the broader DocuSign Spring '19 Release.
DocuSign Gen for Salesforce, available on Salesforce AppExchange, enables sales reps and other users to automatically generate signature-ready contracts with a few clicks, directly from within Salesforce. This can result in faster deals, fewer errors, and greater productivity.
DocuSign ID Verification simply and securely automates the verification of government-issued IDs and European eIDs when they are used in confidential or sensitive transactions. For example, opening a bank account would normally require the signer to physically present a photo ID. DocuSign ID Verification allows this process to be digitized and automated, enabling signers to verify their identity on a mobile device from practically anywhere.
"The DocuSign Agreement Cloud represents the future of our business—and the future is now," added Springer. "The agreement cloud category is inevitable. It complements other huge categories like CRM, HCM, and ERP, which all connect to the agreement process. At DocuSign, we already lead e-signature. Now, we are broadening to address the entire agreement process."
For more information, visit https://www.docusign.com/products/agreement-cloud.
*The $50 billion total available market estimate derives from DocuSign's bottom-up market sizing based on its sales-forecasting methodology, augmented by expert interviews, customer surveys, and market data from a global strategy consulting firm.
"The DocuSign Agreement Cloud facilitated a piece of automation that our business needed. It connects our salespeople straight to customers in a highly automated way. We've now completed thousands of deals using the DocuSign Agreement Cloud, and on average we are able to close these deals in less than half a day compared to five when we don't use DocuSign," said Alan Bronowicz, head of business process management at Refinitiv. "The DocuSign Agreement Cloud makes it easier for our customers to do business with us—and makes it easier for our staff to do business with our customers. So, it's a win for everybody."
"We've been using DocuSign eSignature and Payments across our business and it has revolutionized how we work," said Weston Betts, director of business development at Blockparty. "Currently, we coordinate a high volume of hospitality events and it's critical our customer and partner agreements are accurate—they expect perfection. All of this information is within Salesforce, but we still spend time double-checking our work to ensure there are no errors. After getting an early preview of the DocuSign Agreement Cloud solutions, we are excited for the positive impact it can have on how we sell."
"We are happy to see DocuSign expanding its presence on AppExchange with DocuSign Gen for Salesforce—powered by Lightning," said Mike Wolff, SVP, ISV Sales, Salesforce. "Gen will provide salespeople with an exciting new way to automatically generate agreements."
"As a manufacturer of specialized opening glass wall systems, it's critical for us to send out quotes as quickly as possible. With DocuSign Gen for Salesforce, we've seen how we can significantly reduce time spent on manual data entry, allowing us to win deals faster. And compared with other document generation solutions I've used in the past, DocuSign Gen for Salesforce is so much simpler to manage and use," said Joe Rapolla, sales & marketing operations manager, NanaWall Systems.
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About DocuSign, Inc.
DocuSign helps organizations connect and automate how they prepare, sign, act on, and manage agreements. As part of the DocuSign Agreement Cloud, DocuSign offers eSignature: the world's #1 way to sign electronically on practically any device, from almost anywhere, at any time. Today, more than 475,000 customers and hundreds of millions of users in over 180 countries use DocuSign to accelerate the process of doing business and to simplify people's lives.
About Salesforce AppExchange
Salesforce AppExchange, the world's leading enterprise cloud marketplace, empowers companies to sell, service, market and engage in entirely new ways. With more than 5,000 solutions, 6 million customer installs and 80,000 peer reviews, it is the most comprehensive source of cloud, mobile, social, IoT, analytics and artificial intelligence technologies for businesses.
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