In today’s increasingly competitive and mobile business world, organizations are continually looking for ways to streamline operational processes and empower mobile employees to conduct business faster and more efficiently. A new category of cloud services, digital transaction management (DTM), enables businesses to take traditional pen-and-paper business processes digital and is gaining popularity for the convenience, time and cost savings it provides.
Leading this trend is the adoption of electronic signature software and services: In 2014 more than 210 million transactions were completed using e-signatures – a number Forrester expects to grow 53 percent through 2017.
Recognizing the benefits that DTM and e-signatures can bring to the contract lifecycle, Revitas has joined up with DocuSign and integrated DocuSign’s eSignature solution into Revitas Contract Manager. The partnership will allow enterprises to streamline contract approvals and the entire contract lifecycle, ultimately accelerating revenue.
Contracts are the lifeblood of most global organizations. At any given time, enterprises can be managing thousands, even tens of thousands of complex contracts that are designed around unique business needs, terms, clauses, and processes — often requiring multiple signers based on corporate hierarchy or the dollar amount under contract. Contracts can be multi-national or even multi-regional, or contain multiple addendums and additions that can be attached or associated to a Master Services Agreement (MSA).
The point? A company’s contracts can contain so much variation and complexity that manual, paper-driven contract management processes are often not sufficient to extract the maximum value from their contracts. An automated contract management software with built-in e-signature capabilities can minimize the amount of time and steps taken in the contract lifecycle management process and eliminate contract approval delays that occur from traditional pen and paper signature processes. Agile workforces can close deals faster, regardless of location or device.
This is an exciting announcement, and we plan to take a deeper dive into the growing need for contract management automation and e-signature capabilities.