Docusign Adds AI Data Extraction in Spanish, Portuguese

US software company Docusign has enabled a new AI-assisted data extraction feature in Spanish and Portuguese for its Docusign Navigator platform. This tool is designed to optimize the management and analysis of contractual agreements in the Latin American market.

The introduction of this technology responds to the need to streamline corporate processes and mitigate inefficiencies, issues that affect up to 18% of the time in corporate departments. “With the availability of data extraction in regional languages, we are empowering our Latin American customers with useful information to manage their businesses,” says Norbert Otten, Senior Director of Solutions, Docusign Latin America.

Deloitte’s Unlocking the Value of Agreement Management report, notes that one in five companies experiences revenue generation delays due to setbacks in agreement management. “Eliminating wasted time and unproductive workflows allows companies to discover the hidden value in their contracts,” Otten says. The new feature works to convert unstructured data from contracts into structured and actionable information.

In the B2B environment, Contract Lifecycle Management (CLM) can be a fundamental pillar of operations. The nature of agreements, often stored in unstructured text formats, presents a significant challenge for extracting key information such as clauses, expiration dates, obligations, and financial terms. This manual process is not only time and resource intensive but is also prone to human errors that can lead to legal and financial risks.

Docusign’s solution is a direct response to this problem. By centralizing agreements in an intelligent repository like Navigator, organizations can apply AI models to automate data identification and classification. This transition from manual to automated handling allows legal, financial and sales teams to access critical information almost instantly, improving decision-making and oversight of contractual commitments.

Docusign Navigator operates as a centralized repository that not only stores but also manages and analyzes agreements at scale. The underlying technology is Docusign Iris, the company's AI engine. This engine transforms unstructured data into a structured format, which standardizes information and facilitates advanced searches and portfolio analysis.

The AI-assisted extraction feature was enabled for users in an early access program. By standardizing contract data, Navigator facilitates the quick location of specific terms and access to essential information. Direct benefits for companies include a reduction in operational time loss, minimization of delays in revenue recognition, and mitigation of risks associated with a lack of contractual visibility, says Otten.