DocuSign CLM Accelerates The Contract Cycle, Reducing Legal Expenses While Improving Compliance
Legal work makes up some of the highest costs in an organization's contract processes. Inefficient and manual contract workflows extend the need for legal to review and negotiate non standard terms for all manner of agreements, increasing legal expenses per contract and sometimes leading to reliance on even more expensive outside counsel for contract review. Complex workflows also make contract management and visibility more difficult, increasing organizations’ risk exposures in the contract cycle.
To better understand the benefits, costs, and risks associated with DocuSign CLM, DocuSign commissioned Forrester Consulting to interview decision-makers from five organizations and conduct a Total Economic Impact™ (TEI) study. This spotlight focuses on the use of DocuSign CLM by legal teams and the value it drives for their organizations.
Overall, customer interviews and financial analysis found that a composite organization using DocuSign CLM experiences
- 13% reduced reliance on outside legal counsel
- $40 reduced cost of risk exposure per contract
- An ROI of 356% legal teams gain from utilizing DocuSign’s cloud-based CLM solution.