DocuSign : Streamline Contract Workflows with the Procore and DocuSign Integration

By many accounts, the construction industry has a bright year ahead. With 40% year over year demand growth and nationwide infrastructure plans on the horizon, construction companies can expect continued growth in 2022 and the years thereafter. At the same time, the industry is facing a number of challenges that, if not handled properly, may impede these opportunities.

Labor shortages have made it difficult for contractors to assemble teams for their projects, while inflation has led to higher supply costs and lower profit margins. Making matters more complicated, the supply chain still hasn't stabilized since the start of the pandemic. According to a survey by the Associated General Contractors of America, as of fall 2021, 88% of construction firms were experiencing project delays.

These conditions have made it all the more necessary for construction companies to speed up other areas of business, especially signing and managing contracts. With this goal in mind, DocuSign and Procore, the leading construction management software, have partnered to help construction companies stay organized and on schedule with digital agreement technology.

Slow agreement processes in a complex industry

Construction projects are notoriously complicated. In addition to coordinating large teams of people, contractors often have to deal with daily changes that take up extra time and budget. While construction professionals are experts at adapting on the job, many have yet to adopt new agreement technology that can greatly improve their day-to-day processes and help them maintain or improve profit margins amid surging inflation and shortages. A DocuSign survey found that only 42% of construction companies use an e-signature solution, despite most professionals completing over 100 projects a year and signing an average 50 documents per project.

Resistance to adopting e-signature and digital agreement technology can come with a high price. When contracts are handled manually, low visibility into contract status slows everyone down; mistakes and errors enter the picture; and misplaced documents can lead to confusion about scope, pricing, milestones and other key details. The resulting delays and speed bumps can not only reduce profit margins but also increase the likelihood of rework and litigation. Furthermore, they can threaten your relationships with business partners, eroding the trust you've diligently built over time.

The DocuSign and Procore integration

The DocuSign and Procore integration was designed to make upgrading and accelerating construction agreement processes as easy as possible, allowing firms to take full advantage of the industry's potential while weathering 2022's headwinds. When Procore app users connect to their DocuSign account, they can send, review and sign contracts and construction documents right from the app on their device. This enables you to access and manage contracts from any location-including the job site.

In addition to being convenient and easy to use, the DocuSign and Procore integration can help reduce the financial and legal risk construction companies face. Centralized digital storage and an audit trail mean you don't have to worry about losing a document or someone contesting a contract after it's signed. What's more, when you complete agreements faster, you'll get peace of mind knowing that everyone on the project is aware of and has legally agreed to their responsibilities. You can also leverage DocuSign's powerful visibility to see the status of your contracts, including who's signed or approved them.

Along with providing support in areas such as risk mitigation, the integration helps you stay on schedule. With DocuSign and Procore, the average customer onboards subcontractors five times faster and saves $36 per agreement. The benefits of quicker contract and project completion trickle down to your partners, who, in turn, see the value your company brings-and return with business again and again. Fewer bottlenecks and quicker turnarounds ultimately translate to a healthier network, company and bottom line.

How the DocuSign and Procore integration works

The DocuSign and Procore integration transforms the way your company manages construction projects by combining the best of both solutions. Using the DocuSign integration in the Procore app, you can:

• Prepare, send and manage contracts: Generate, complete and store documents within Procore, making Procore the single system of record for your projects.
• Send documents for signature: Send everything from subcontractor agreements to change orders for signature. Received documents can be signed digitally on any device, speeding up one of the lengthiest parts of the contract process.
• Standardize agreements: Templates allow for standardized agreements with common language, reducing redundant work between projects.
• Automate workflows: Design workflows to eliminate manual tasks, like initiating payments or invoices, from your contract process.
• Increase visibility: Check the status of contracts and other documents instantly within Procore, and monitor who needs to sign next.

The results you can realize with the DocuSign and Procore integration are significant, ranging from fewer project bottlenecks to faster overall contract completion. One customer, Camden Property Trust, a publicly-traded real estate investment trust, saw contracts completed six times faster on average with the integration-down from 2 weeks to just 2 hours per contract.

In a time filled with both opportunity and uncertainty, the DocuSign and Procore integration can help construction companies improve their business's practices, reputation and outlook. Visit our product page for more information on how you can implement it with ease and world-class support.