At its Momentum customer conference today, DocuSign introduced CLM Essentials, a contract lifecycle management product built specifically for small and medium-sized organizations to centralize and automate the creation, negotiation and storage of their contracts.
DocuSign said the product is designed to “democratize CLM” by reducing the complexity of contracting technology and making it more accessible for businesses of any size, particularly in a time of hybrid work, or what DocuSign calls the Anywhere Economy.
“Contract automation is critical for growing companies who need to reach aggressive business goals with limited resources,” DocuSign says. “At the same time, many companies do not have the resources and time to implement a technology solution that will take months to set up.”
Based on its existing CLM product, CLM Essentials offers businesses “the perfect starting point to begin their contract management journey,” while also having the ability to scale as their needs grow, DocuSign says. Its features include:
- Document generation template builder: Users can upload existing contracts and convert them into dynamic generation templates. Users can then revise those contracts in the online editor, rearrange fields that can be pulled from Salesforce upon generation and create conditional logic rules to swap out language when certain criteria are met.
- Contract process builder: CLM Essentials provides pre-configured, templatized workflows that cover the most common contract processes.
- Salesforce integration: CLM Essentials has a “deep integration” with Salesforce, DocuSign say.
“Prior to the shift to hybrid work, smaller teams might not have felt like their contract processes were unmanageable, especially if they were working just a few desks away from each other,” said Antonis Papatsaras, chief technology officer, CLM, DocuSign. “However, in the Anywhere Economy, enabling teams to get contract work done digitally has become critical.
“DocuSign is lowering the time and cost barriers that made CLM feel out of reach for many smaller businesses. CLM Essentials empowers companies of all sizes to turn manual, analog contract work into streamlined digital workflows.”
DocuSign said that if customers of CLM Essentials see their needs become more complex over time, they can upgrade to one of DocuSign’s other CLM editions, easily transferring any work configured in CLM Essentials.
The new product is available globally today in English, Spanish, French, German, Portuguese and Dutch.
