Adobe on Adobe: How EchoSign reduced our procurement contract completion cycle by 73%
As companies continue to evolve and look for ways to conduct business more efficiently, many procurement heads, business managers and finance departments are looking for ways to speed up document approvals, digitize processes that work for a multitude of vendors and ultimately reduce the lag time (and headaches) that are attached to paper. Our own Procurement team put EchoSign to the test to see how the adoption of e‐signatures and digital document workflows could actually help Adobe streamline processes and keep business moving with our global partners and customers.
Let’s Talk Numbers
Adobe Procurement works with a contract average of almost 1,500 contracts/quarter. The majority of those are in North America, but some also support international offices. Additionally, 85% of the non-revenue generating contracts within the overall company are handled by Adobe Procurement. Adobe had a contract management system in place, but parts of the process were still manual and paper-based, specifically the old “requirement” for a wet signature process for executing contracts. We weren’t alone, in fact, this situation is a very common one. A 2013 survey found that 98% of US companies still use paper in their contracting process. This is in spite of the fact that two‐thirds of respondents agree that paper is less secure and 70% of those surveyed agree that there are material efficiency gains.
Let’s Talk Results
At Adobe, this has all changed for the better. Our Procurement team removed the roadblocks slowing down business and as a result became more agile and responsive to the business overall. Contract completion cycle was reduced by 73%: going from 2‐3 weeks to 1‐2 days. Currently, 79% of contracts are completed in 7 days or less. Additionally, there was a 70% increase in contract completion and the Procurement department’s paper and supplies costs were cut down by 80%.
With more than 3‐million contracts e‐signed on a monthly basis across sales, HR, Procurement, health, education, legal and government, Adobe EchoSign knows a thing or two about what customers are looking for in an e‐signature service. Get contracts, documents and orders signed in a fraction of the time from anywhere and see your document through every step of the process with the detailed EchoSign audit feature.
Say goodbye to managing the influx of scans, faxes and printouts by bringing on EchoSign to work with your existing business applications. It’s time to start to show‐off your numbers by minimizing paperwork and using that time to focus on growing your numbers with your clients and partners.
Read more about how EchoSign helped Adobe’s Procurement team to streamline and be more productive with this case study. Plus, check out what EchoSign can do for your Procurement team with this informational video.