Signing 2000 contracts per year made easy for Accenture
Long waiting period for document processes to manually sign and review that resulted in a significant increase in the total cost of handling the process in the background.
emSigner-AI enabled document processing automation platform
- Timely contract commitment fulfillment
- Ability to close deals faster
- Risk of document loss was completely eliminated
Accenture is a fortune 500 global management consulting company that provides business consulting with presence in more than 120 countries. Founded in 1989, the company pioneers in combining technology that digitizes and automates business processes with their industry, functional and technical expertise.
Accenture wanted to address this complexity in their process by digitizing the contract signing and approval process the right choice to better their performances in terms of contractual documents.
Why Accenture chose emSigner
As a mandatory procedure, any contract before being reviewed and approved by a C-level executive, had to pass through several departments in a physical manner, located in different regions across the globe. Every year approximately 2,000 contracts are signed and approved. At each departmental level, the designated signatory had to review the contractual documents and manually sign on every “read and understood” page. All of this meant that, on average, the contract approval process lasted for a minimum of 40 to 45 days. Additionally, there was a loss of visibility into the contract management process, unforeseen document losses, unwarranted fines, and penalties due to overshooting deadlines. All these factors resulted in a significant increase in the total cost of handling the process in the background.
Accenture wanted to address this complexity by digitizing the contract signing and approval process. It was during early 2019 Accenture started looking for a partner who could help them accomplish this objective. After a few rounds of discussion with eMudhra, our experts proposed the integration of emSigner- the AI-enabled document processing automation platform to digitize the entire contract management workflow and include provisions to review, approve and electronically sign contracts using legally valid Digital Signature Certificates.