Sirius Decisions DocuSign Vendor Profile
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Sirius Decisions DocuSign Vendor Profile

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Sirius Decisions does a thorough review of DocuSign and its capabilities. This includes functionality, vision, support, best practices, etc. With signatures and transaction finalization becoming ...

Sirius Decisions does a thorough review of DocuSign and its capabilities. This includes functionality, vision, support, best practices, etc. With signatures and transaction finalization becoming harder and harder, Sirius Decisions concludes that DocuSign with its focus on speed, accuracy, and cost is a viable and cost effective alternative to overnighting envelopes or faxing.

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Sirius Decisions DocuSign Vendor Profile Document Transcript

  • 1. C A T E G O R Y : S A L E S O P E R A T I O N S C L A S S : S A L E S P R O D U C T I V I T Y T O O L S © Copyright SiriusDecisions. All Rights Protected and Reserved. Years ago, companies would commonly sched- ule face-to-face meetings to finalize contracts. When the cost of travel began to dramatically escalate, mailing two copies of a contract for signature became the norm. Fax machines and email further simplified the process, but each still required someone to sign a physical docu- ment. Fast forward to today, when electronic signatures now allow an authorized individual to “sign” a document anywhere, anytime, on any Internet-connected device. Because of legal changes that have made electronic signatures an acceptable way to vali- date contracts and other legal papers, many b-to-b organizations have already benefited from the efficiency this method can bring their sales process. Vendors such as DocuSign, which offers an electronic signature software-as-a- service (SaaS) application, also have stood to benefit. The DocuSign eSignature Transaction Management Platform can be purchased via a per-user subscription model or an envelope capacity model, which applies to each document transacted. The subscription model starts at $15 per user per month, while the envelope model starts at $1,500 for a capacity of 500 envelopes. FUNCTIONALITY AND VISION The presence of functionality is a dimension we use to evaluate a vendor’s offerings; in addition, vendors must demonstrate that the functionality is capable, and have a vision for continuous improvement. Our analysis of DocuSign around these components follows: • Functionality presence. The DocuSign eSignature Transaction Management Platform provides electronic signature capabilities for users on multiple device types (e.g. PCs, tablets, smartphones). The platform’s functionality addresses the needs of document senders and signers, streamlining transactions through three steps: preparation, execution and comple- tion. Preparing transactions is done through an interface that allows setup by users without any specialized technical or programming knowledge. Execution of the transaction is done through one click, with security managed behind the scenes. Transaction completion maintains the com- pleted documents and an audit trail for compliance; the platform can be set up to retain transaction information as long as required by the customer’s industry or policies. • Functionality capability. The DocuSign eSignature Transaction Management Platform supports the development of elec- tronic forms and data capture within a DocuSign Vendor that provides electronic signature capabilities, and related document management and workflow features Functionality is divided into three key categories: preparation, execution and completion Integration with sales force automation platforms allows transaction data to be captured and associated with opportunities in the pipeline, creating a closed-loop process VENDOR AT-A-GLANCE: DOCUSIGN Contact Information Client Roster Operations 111 Sutter St. Suite 1000 San Francisco, CA 94104 (866) 219-4318 www.docusign.com info@docusign.com Cisco HP McKesson Salesforce.com TD Ameritrade Xerox Revenue: Not Disclosed Employees: 300 Global Presence: Worldwide Key Industries Served: Financial Services, Healthcare, High Technology, Real Estate 1
  • 2. C A T E G O R Y : S A L E S O P E R A T I O N S C L A S S : S A L E S P R O D U C T I V I T Y T O O L S © Copyright SiriusDecisions. All Rights Protected and Reserved. transaction, and manages the workflow from company to signer and back during the preparation phase. This allows companies to take existing transaction documents (e.g. .pdf, .jpg, .doc) that con- tain critical information it needs to capture, and use them within the electronic signature process. For the execution phase, the plat- form electronically captures and manages the individual signatures that must be included in the transaction, and offers the capability for data collection and electronic payment. Signers are not required to register or release any personal data to work within the platform, even if they have never previously done so. Once a transaction is completed, the platform provides reporting capabilities, a retained audit trail and storage of each transaction. Companies can analyze the time it takes to complete transactions so they can plan potential improvements, in conjunction with legal or contract administration functions. They also can achieve industry compliance for tracking and storing executed transactions without the need for physical stor- age of documents. To maximize uptime and security for business transactions, DocuSign has multiple redundant data centers located around the world and maintains a disaster recovery center that can handle any single full-site failure. To ensure that customers feel secure in the transactions they process through DocuSign, the ven- dor is the only eSignature provider that is ISO 27001 and eTrust certified, SSAE 16 examined annually, PCI DSS 2.0 compliant, and a member of the U.S. Department of Commerce Safe Harbor. • Vendor vision. Moving forward, DocuSign is focused on in- creasing its global reach and expanding on its industry vertical solutions for customers (e.g. deeper solutions for financial services, healthcare). ESSENTIAL ELEMENTS As important as features and functionality is a vendor’s ability to deliver and implement its solutions. Our analysis of DocuSign along this dimen- sion that we call “essential elements” is as follows: • Integration. DocuSign’s Integration Framework allows customers to integrate the application with legacy internal systems, sales force automation systems (e.g. Salesforce.com, Microsoft Dynamics, Oracle, Sugar CRM), financial systems and human resource sys- tems. Through the eSignature representational state transfer (REST) application programming interface or the Simple Object Access Protocol (SOAP), integrations are not always out-of-the-box but can be quickly completed across many applications. DocuSign offers approximately 10 out-of-the-box implementation processes based on the experience of previously installed customers; these processes help keep the time to productivity a week or less. If customers require further customization, the average project cost is $2,500 plus travel and expenses for the DocuSign professional services team. • Training. Access to self-paced training courses designed to help users get started is included in the DocuSign subscription cost. DocuSign also offers a fee-based custom training offering priced according to the specific needs of a customer. The vendor is also developing a more robust training program, DocuSign University, which it plans to launch in early 2013. • Support. Customer support is offered across three levels: Community-only support, covered by the subscription cost; Plus support, priced at 10 percent of annual contract value, which deliv- ers chat and email support seven days a week during business hours; and Premium support, priced at 20 percent of annual con- tract value, which includes telephone, email, chat and API support 24x7. All customers are assigned an account manager to help with ongoing needs and questions. • Best practices. Integrating DocuSign within an SFA system helps sales reps stay focused on using the system to manage their accounts and opportunities through every step in the sales process. Its workflow capabilities enable key business units and functions to be properly connected to a deal, so that each step of the transac- tion process can be efficiently completed and delays avoided. • Vendor viability. DocuSign is a private company founded in 2003. It has had multiple rounds of venture capitalist funding (totaling $122 million by October 2012). The company recently closed a $56 million investment round ($122 million total) led by Kleiner Perkins Caufield & Byers, Accel Partners, Google Ventures, SAP Ventures, Comcast Ventures and others, positioning the company well to deliver on its future vision. As with any private vendor, we recom- mend securing customer references as part of your due diligence. THE SIRIUS DECISION The final step of a successful deal – getting the contracts signed – can prove harder and longer than all the previous work that it took to get there. With its eSignature Transaction Management Platform focused on the speed, cost, accuracy and security of electronic signatures, DocuSign’s technology is designed to eliminate many of the obstacles to getting deals signed. Finding efficient ways to finalize a transaction not only helps to increase sales reps’ capacity to focus on more opportuni- ties, but also positions companies as easy to do business with. Sales organizations that understand the advantages of moving away from paper contracts will find the DocuSign solution worthy of consideration. 2