How AI and Docusign Insight are making your agreements smarter

What if you could see inside your agreements to automatically spot problem areas? What if you could save hours of admin time searching through contracts looking for answers to legal questions? Thanks to the powerful smarts of AI, you can. 

Docusign CLM+ with Insight recently hit the local market to help businesses save time, reduce risk and complexity, and spot opportunities for improvement when it comes to managing your agreements. Already, it’s being embraced by companies around the world and in Australia. 

Let’s take a look under the hood to see how it could help your business.  

How Docusign Insight works

By drawing on a proven combination of AI technologies – including natural language processing, machine learning, latent semantic indexing, OCR and rules-based logic – Docusign Insight manages and analyses all agreements across your business, delivering rich insights your teams can take action on. 

It works by creating a searchable index of all agreements across your business, whether from one or more Docusign instances, enterprise systems like Dropbox and Sharepoint, and even file repositories. PDFs and image files are searchable, too. Then, to identify agreements that matter, you can filter agreements and apply advanced keyword searches. The engine also enables you to surface risks and opportunities, leveraging pre-built concepts common to contracts. 

All the insights are clearly visible via a customised reporting dashboard, delivering the critical knowledge you need to manage all the agreements on which you’ve built your business. 

Use cases for Docusign Insight

As your business grows, it can get harder to maintain full visibility across your portfolio of agreements. Yet limited visibility means exposure to risk, missing out on hidden opportunities, and the persistent challenge of answering legal and business questions in a timely fashion.

With Docusign Insight, you can solve problems like these in one fell swoop. Here are some of the most common use cases out there today. Remember, though, there may be other opportunities depending on your type of business and the contracts you deal with on a day-to-day basis.

• Sales

Drive better business deals, faster. Spot most-favoured-nation terms, notice requirements and other unseen risks and opportunities.

• Procurement

Stop value leakage in vendor relationships. Evaluate obligations, SLAs, renewals, rebates, incentives and other key procurement terms.

• Catastrophic events

Protect your business operations in a crisis. Analyse force majeure, termination for convenience, damages and other critical terms.

• Mergers and acquisitions (M&A)

Uncover hidden risks in contracts before they impact your transaction – and identify opportunities for post-integration synergies.

• Data privacy

Bolster your security and compliance posture. Evaluate your agreements for GDPR, CCPA and other legal data privacy standards.

• Non-disclosure agreements (NDAs)

Understand critical details across volumes of NDAs – such as duties of care, restrictive covenants and confidentiality carve-outs.

Keen to know more?  If you like the idea of embracing AI to help uncover organisational risks, obligations and opportunities within your growing portfolio of agreements, then get in touch with Docusign today. We’ve been helping Australian companies get up and running with this powerful tool and will happily answer any questions you have about how it can help transform your business.