Value of Streamlining NDA’s in a Virtual World

During these unprecedented times, companies who are not turning to secure and digital methods may find themselves more vulnerable than ever. Automating your NDA workflow allows legal and sales stakeholders to spend more time on customer relationships and more strategic legal reviews.

Document Generation and Review

Companies can reduce legal risk and fees when leveraging DocuSign CLM functionality. With DocuSign CLM, the legal department’s NDA visibility and governance increase because of a single, secure, contract repository and task-oriented legal reviews. Remote Legal reviews within CLM are streamlined and efficient, enabling users to easily collaborate and track document and version history down to the smallest activity such as an individual downloading or viewing the document. Additionally, DocuSign tracks redlines and comments by leveraging Microsoft Word track changes functionality. On average, legal departments are saving $36 per agreement when using DocuSign1. Another time and money saver functionality that also leverages Microsoft Word is the ability for non-legal users to insert clauses within the contract using a Microsoft add-in that has a list of curated clauses that have been approved and defined by the legal department.

DocuSign’s document generation functionality saves time by automating the tedious document assembly process. Administrators can easily update the NDA to ensure a strict level of governance and quality assurance on the NDA template.

eSignature

Signature collection can be more difficult than ever due to the current climate of the world. DocuSign CLM leverages eSignature to alleviate that difficulty. Companies who use DocuSign CLM can send an NDA for signature with one click while still making the signing and customer experience easy and customizable. eSignature is essential during this time, and with DocuSign’s user-friendly eSignature process, companies have seen the speed to signature rapidly increase because of the ability to quickly sign documents anywhere. Digitally sending and signing agreements has led to up to 82% of agreements completed in less than a day and 49% in less than 15 minutes2. Spaulding Ridge finds that companies are hesitant and uncomfortable about the use of eSignature. However, DocuSign has enhanced security when it comes to signing agreements. Companies can be confident that documents will make it to the right people. This confidence stems from the comprehensive signature audit trail functionality that tracks signature actions down to the signer’s IP address.

In a virtual and digital world, DocuSign CLM can streamline NDA generation, traceability, governance, execution, and eliminate the unknown of companies NDA’s in an unknown world we find ourselves working in.

As a DocuSign Platinum Partner, Spaulding Ridge helps clients transition from legacy, paper-based agreement processes to digital solutions for sending, approving, and signing contracts leveraging DocuSign eSignature. This monumental shift in the agreement process brings the simplicity and efficiency made necessary by a remote workforce. Spaulding Ridge has partnered with many organizations to not only implement DocuSign’s leading technology, but embrace the change.

Questions on how the DocuSign CLM function can make your business more efficient? Contact us at [email protected]

About Spaulding Ridge

Spaulding Ridge is a global cloud advisory and implementation firm that helps leading companies deploy Best-in-Cloud solutions. Spaulding Ridge enables organizations to accelerate operational efficiency, drive digital transformation, and increase competitive advantage.

Spaulding Ridge partners with digitally savvy companies to help:

• Finance gain control: Increase top-line revenue, gross margins, and profits through better insight. Connect financial planning to strategy and automate financial close processes.
• Sales increase productivity: Manage quota and territories more consistently and effectively, automate customer contracts and onboarding.
• Operations drive efficiency: Improve supply chain agility, automate strategic sourcing and purchasing, deliver superior customer service experiences.

To learn more, visit spauldingridge.com.