DocuSign (DOCU) CEO Allan Thygesen joins Yahoo Finance’s Brian Sozzi to discuss the company’s new product, Intelligent Agreement Management.
Thygesen explains that the new platform can assist companies with every step of the agreement process, aiming to address the “agreement trap,” or the value loss companies are experiencing from agreement-related inefficiencies. In collaboration with Deloitte, DocuSign found the “agreement trap” totals $2 trillion annually.
The new platform employs AI to read agreements and extract the most essential terms, Thygesen says. This allows companies to ensure the key points they spent time negotiating don’t go “to a deep dark place” once signed, the DocuSign CEO explained. While AI was already a part of DocuSign’s existing signature product, this new phase will allow the company to further participate in the “AI moment,” which Thygesen considers to be a watershed similar to the internet’s roll-out.
While the Intelligent Agreement Management platform won’t negotiate contracts for companies, it will help them read agreements received from other parties, point out where the agreement differs from a company’s usual terms, and propose new language.
Reflecting on his tenure as CEO, Thygesen notes the company’s “rejuvenation of innovation culture,” explaining that DocuSign is beginning its journey toward introducing its innovations to the market.
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This article was written by Gabriel Roy.
