DocuSign Unveils AI-Driven eSignature Features to Simplify Agreements

In a move set to streamline the often tedious process of agreement handling, DocuSign has rolled out innovative AI-driven eSignature features aimed specifically at smoothing out the kinks for both signers and businesses. These enhancements promise not only to clarify confusing legal jargon but also to significantly cut down on the manual workload often associated with contract preparation—key points that may particularly pique the interest of small business owners.

The San Francisco-based company unveiled these advancements powered by their Intelligent Agreement Management (IAM) platform, targeting two common pain points in business agreements: dense legal language that complicates understanding and the cumbersome task of document preparation. The new features are intended to foster clarity and speed, ultimately benefiting small businesses that frequently navigate the complex landscape of contracts.

For individual signers, clarity is now within reach. The AI-assisted signer experience summarizes agreements in plain English, delivering key terms in a more digestible format. Business owners can benefit from the ability to provide potential clients or partners with concise contract summaries, enabling clearer communication and confident signing. According to a recent survey, nearly 75% of participants expressed that they would feel more assured with AI-generated summaries, while almost 60% admitted to signing contracts without fully understanding the terms.

The emotional strain related to complex contracts is also noteworthy. The same survey indicated that nearly half of signers experience negative emotions when faced with intricate legal text, with frustration and anxiety being common reactions. By addressing these challenges, DocuSign is not just improving the signing experience but actively working to eliminate the mental hurdles that small business owners typically encounter.

On the business side, the advantages are equally compelling. The new eSignature features automate several preparation tasks that can bog down teams. Traditionally a manual process filled with formatting, double-checking, and positioning signature fields, document preparation will now see time-saving efficiencies. The AI identifies agreement types, verifies recipient data, and intelligently places necessary fields, which significantly reduces the opportunity for human error and speeds up turnaround times.

Mangesh Bhandarkar, DocuSign’s GVP of Product Management, stated, “Our customers tell us manual agreement preparation is time-consuming, and signer confusion causes delays. We’re applying AI to solve both challenges by removing the contract busywork for preparers and using features like AI-powered summaries to eliminate signer hesitation.” His statement underscores the growing reliance on AI technology as a solution to age-old business inefficiencies.

A primary consideration for small business owners is how these tools can be integrated into existing workflows. While the benefits are clear, there could be an initial learning curve for teams unfamiliar with AI applications in document management. Small business owners will need to determine if their teams have the capacity to adapt quickly and whether the investment in upgrading eSignature technology aligns with their current operational needs.

Further, businesses that handle sensitive client information must weigh the risks associated with any technology migration, especially with regards to data security and compliance. However, DocuSign assures users that their AI engine, named Iris, employs enterprise-grade security measures, positioning it as a secure option for businesses concerned about protecting client data.

The new and improved features are currently available in the US, UK, and Australia, with additional functionalities being rolled out imminently. With nearly 1.8 million customers worldwide utilizing DocuSign’s technology, the response from small businesses will likely be closely monitored as they navigate these recent enhancements.

For those interested in delving deeper into this news, the original announcement from DocuSign can be found at DocuSign Press Release. Small business owners keen on leveraging these updates would do well to explore the implications for both their operational efficiency and client interactions.

Image via Google Gemini

This article, "DocuSign Unveils AI-Driven eSignature Features to Simplify Agreements" was first published on Small Business Trends

View the full article