Conga Study: Documents are Going Digital but 76% of Companies Yet to Fully TransformPosted Jul 10, 2019
Research demonstrates more transformation -- and automation -- helps enterprises prevail
Conga, the leader in end-to-end Digital Document Transformation (DDX), today announced the results of its inaugural Digital Document Transformation Pulse Survey, which found that while two-thirds of companies have digitized contracts and agreements, the majority have yet to automate associated processes, including negotiations (24%) and electronic signatures (45%).
The benchmark study aims to provide a pulse on how businesses are embracing digital transformation -- and the role DDX is playing in the process. It offers insights into how and why companies are engaging in DDX, the key ingredients for successful transformation and best practices for measuring progress.
“When organizations focus on documents as the first step in their digital transformation journeys, it provides a path to progress that leads to improved productivity and business growth,” said Doug Rybacki, Chief Technology Officer, Conga. “The results of the Digital Document Transformation Pulse Survey indicate that while organizations understand the importance of digitizing documents -- especially contracts and agreements -- there is still incredible potential for them to adopt AI to modernize the process to eliminate human errors, enhance the customer experience and close deals faster than ever before.”
Documents are essential to business, but when they are stuck on paper, they can create a lot of drag -- and worse, risks such as audits, missing contract clauses and even lawsuits. The Digital Document Transformation Study found that there’s a strong correlation between DDX and companies that are prevailing by maximizing efficiencies, increasing revenue and providing a better customer experience -- with 49% of those who are winning already transforming eight or more types of documents.
Additional highlights of the study include:
60% of respondents believe that artificial intelligence (AI) is critical in transforming documents and document processes, with 37% either having plans to adopt AI or some level of AI already in place.
Contracts and agreements are the most commonly digitized documents, with customer and marketing communications next on the list (50% of respondents), closely followed by billing and invoices, signatures, HR documents and offer letters.
On the other end of the spectrum, documents that are least frequently digitized include RFPs, procurement documents, and finally, negotiations, which prove to be the true last mile in DDX at less than 24% adoption.
As organizations seek a reliable technology vendor to partner with them on their digital transformation journeys, the factors on which make their decision are price-to-value, return on investment and speed of deployment and adoption -- mirroring the exact reasons that companies transform documents and automate processes.
To read the full study, visit: http://go.conga.com/ddx.
Conga surveyed hundreds of individuals from companies ranging from small and medium size businesses (SMBs) to enterprises across North America, EMEA and APAC. Respondents ranged from Salesforce admins to sales operations directors to CEOs.
Conga is the leader in end-to-end Digital Document Transformation. From collaboration and creation, through contract management and negotiation, to agreement and e-signature, the Conga Suite has set the standard for automating business productivity and CRM investment through end-to-end Digital Document Transformation. The Conga Suite, which includes Conga Composer® , Conga CollaborateSM, Conga ContractsSM, Conga GridSM, Conga SignSM and Conga OrchestrateSM, drives segment-leading ROI by simplifying and automating intelligent data, documents, contracts, signing, and reporting outcomes.
As a top global Salesforce Platinum ISV Partner, Conga produces the highest volume downloaded paid app on the entire AppExchange. In fact, more than 900,000 users in 85 countries across virtually all industries rely on Conga applications to drive digital document transformation, including Hilton Worldwide, Schumacher Group, and CBRE.
The company is privately-held and based in Colorado with global operations in the UK and Australia. Learn more at conga.com or follow Conga on Twitter: @getconga.