Interview with Docusign CEO Allan Thygesen
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I've worked for 40 years. The pace of change right now in every aspect, in our product innovation, in our go-to-market, in our packaging and pricing we just discussed, in how we market and how people discover us. I mean, all of that is just changing at a rate that is exhausting and exhilarating at the same time.
That was DocuSign CEO, Alan Tegason. I'm Motley Fool producer, Matt Greer. Now, DocuSign provides e-signature solutions and other contract management tools. We recently had a chance to talk with Alan Tegason about opportunity, innovation, and the business of DocuSign.
Hello, Fools. Tom Gardner here with our Chief Investment Officer, Andy Cross and Toby Bordelon. And we're so excited to be able to spend this time with the CEO of DocuSign, a Motley Fool recommendation, ticker symbol D-O-C-U. And the CEO is Alan Tegeson. And Alan, thank you so much for being here with us today. It's a pleasure to be with you, Tom. Thanks. So, of course, this is a standard opening question for you that everybody thinks historically of DocuSign as a signature company. Let's talk about all that it does now with AI workflows and just get right into it in terms of the end-to-end workflow opportunities of the company.
Yeah, fantastic. Yes. Well, I'm sure many of the listeners have signed with DocuSign over the years, either in a personal or professional context. And look, that's an amazing starting point, right? We are involved in the perhaps most important moment of the journey that an agreement goes through. And that was part of what attracted me to the company three years ago was that position and affinity. But as you said, there's a lot more to agreements than the execution moment. And DocSign had that general idea for a while that we could go upstream from people executing documents to mass customizing documents, maybe to identifying the parties and so on. But we'd never really put it together end-to-end in an agreement management suite.
And so that's what we've done. We launched that in June of last year. And literally every stage of the agreement journey from creating the agreement, negotiating it, managing all the internal approvals, pre-filling the agreements, executing them, and then managing them once they're executed and figuring out what you might want to renegotiate or figuring out how you're doing in your contracts or where you have exposure. All of that is available, much of it AI enabled, which I'm sure we'll get into. We call it intelligent agreement management, and it's been fun. So it's been a revitalization of the company. I think we've rediscovered our innovation mojo and benefiting from, as I said at the beginning, from already being a trusted partner with the signing product.
And that's a nice starting point.
Two follow-ups for me, and then I'll let the real great interviewers get in the mix. When you re-energize a company in terms of awakening its desire to innovate, what are the top two or three things that you think are essential to that transformation, that just the process of getting those muscles working again?
The first thing is, look, you have to have the right leaders. And so I attracted some great folks that combined with some of the amazing talent we had here could be leading that effort. I think we had to articulate a compelling vision, a mission that felt worthwhile and that honored sort of what we had done before, but represented the opportunity and Sometimes it's better to be lucky than good. I joined in October 22 and GPT-345 launched a month later and I had some idea of what was going to happen with AI, but obviously that's worked out incredibly well for us. Then lastly, I think you got to set some, immediate goals that allows people to feel like they can be successful and and we we set this goal of launching the first part of the suite and in particular launching our this intelligent repository basically a place to store all your agreements that uses ai to extract all the essential data out of them and we agreed on that in august of 22 and we launched a beta by the end of january the following year
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