DocuSign (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.”