|By Mat Rider||
|March 17, 2014 01:04 AM EDT||
A gentle hum of familiarity enveloped the room as I greeted old friends, colleagues and new acquaintances. Our guests mingled, exchanging opening thoughts before settling down for a provocative conversation on the future of Procurement. I took to the podium to set the stage knowing that this afternoon would be unique and memorable.
A big thank you to all those who participated in DocuSign’s first Procurement Advisory Council (Adco), an invitation only event, on the eve of “DocuSign MOMENTUM 2014”, our annual customer conference in early March in San Francisco. The theme of the conference this year was: “It’s not just a conference, it’s a community”; the Procurement Adco certainly reflected this. I am grateful to the 20+ participants, Procurement and Supply Chain experts, for sharing their experience and their enthusiasm, and for engaging in an ideation session to think wild-and-crazy ideas to make Procurement processes efficient and user friendly. Today’s “wild-and-crazy” is tomorrow’s normal and we are looking forward to building this future together.
How the event came about
DocuSign has launched multiple Advisory Councils as forums for senior executives and thought leaders to come together in preparation for the 100% digital future of business. Council members explore both departmental and vertical use cases for Digital Transaction Management (DTM) – a category that DocuSign is defining to make enterprise processes efficient and to reduce transaction friction.
DocuSign Advisory Councils
The Kickoff Meeting
There was 400 years’ worth of procurement and supply chain experience in the room! It was a diverse group representing a variety of industry verticals including Bio-tech & Pharmaceutical, High tech, Financial Services, Telecommunications and comprising practitioners, analysts and academics.
We heard from two practitioners, both DocuSign customers, in how they had improved their Procurement processes to achieve results like:
- Signatures obtained in less than a day for 82% of envelopes and less than an hour for 43%
- Achieved goals of business simplification and pipeline acceleration
- Eliminated the need to physically track or overnight documents
- Moved from an average of 4 days per document signed to less than one hour per document signed
One presentation from a consulting firm focused on why and how enterprises are moving their Procurement function to the cloud. Midway through the program, we separated into three groups of 6-8 each to drive a focused discussion on the Chief Procurement Officer agenda for 2014, opportunities that DTM is making available and advise for DocuSign. The facilitator in each group summarized the discussion to conclude the afternoon.
While there were some interesting differences among the three groups, the following common themes emerged:
- Go Mobile – Vital for keeping up with the speed of business
- Simplify – Arguably the most important step towards the holy grail of a frictionless workflow
- Value Creation – Intuitive products like DocuSign layer easily on existing investments (ERP, CRM, P2P etc.) and free-up procurement resources for more value add activities
- Velocity – Procurement leaders must address the speed of their processes head-on
- Compliance – Make the right thing the easy thing to do
As the group packed up to head over to celebratory cocktails, I noted that they left in a flush of excitement, energized by the afternoon’s discussion. I bet they were thinking about what they would do differently when they got back to work.
One of the most interesting developments post Procurement Adco Kickoff meeting has been the publication of the following article by Bill McBeath of Chainlink Research. Bill has been a friend for over 10+ years and he agreed to join the Adco to learn about DTM. We at DocuSign were pleasantly surprised by his thorough coverage of Momentum. Thanks Bill! http://tinyurl.com/n2qnpru
We at DocuSign are headed to AribaLIVE in Las Vegas. DocuSign is the platinum sponsor and we will be doing a breakout session on Paperless Procurement which will highlight the DocuSign-Ariba integration. See you in Vegas and back here in the pages in the coming weeks. Please comment, your feedback is always welcome.