The second Electronic Contract Summit hosted by eSign on March 12 in Hangzhou drew a large crowd, with many enterprises flocking to inquire about the innovative, user-friendly, and secure new products offered by eSign. eSign aims to empower digital transformation by introducing its latest product, the "Integrated Electronic Contract Cloud Platform," hoping to penetrate deeper into various scenarios.
Zhang Jin, Co-founder and Vice President of eSign, stated that in the face of the historic strategic opportunity presented by AI, eSign has proposed the AI + Electronic Contract strategy, aiming to integrate AI capabilities into every stage of the contract lifecycle, from drafting to signing and management. "We are just scratching the surface of how large models can empower contract management, and we will continue to bring valuable AI functionalities to our customers," Zhang Jin emphasized.
The "AI + Electronic Contract" strategy pioneered by eSign is setting a new trend in the industry.
The highlight of the Hangzhou summit was the unveiling of the "Integrated Electronic Contract Cloud Platform" powered by AI. The fusion of technology with electronic signature products promises transformative changes that enterprises eagerly anticipate.
eSignZJ General Manager, Li Yongsheng, highlighted that in 2024, various industries are focusing on high-quality growth, with enhancing operational efficiency through digital means being paramount. eSignZJ has introduced the integrated e-contract cloud platform, Sign&Manage, to meet not only daily signing needs but also business requirements for cost reduction and efficiency enhancement. Additionally, by leveraging advanced AI technology, intelligent management of electronic contracts post-signing is achieved, realizing the integration of signing and management. "We are committed to creating a closed-loop application for enterprise e-contracts based on the principles of usability, intelligence, and security. In the future, we will continue to make signing more convenient and trust simpler, continuously assisting enterprises in achieving digital transformation," Li Yongsheng stated.
How is AI applied to every stage of electronic contracts? For instance, in contract management, the information extraction capability of large models is utilized to achieve the structuring of contract data, enabling automatic classification, archiving, and retrieval of contracts. "In this new AI application solution, we have extended AI technology to more stages of e-contract applications, providing users with a more intelligent and convenient contract management experience. We have launched intelligent contract functions based on large models in our SaaS products," Li Yongsheng explained.
Electronic contracts enable Wahaha to save over 3.27 million CNY in costs annually
Zheng Lilin, Director of Information Management Department at Hangzhou Wahaha Group Co., Ltd., shared her firsthand experience with the "Wahaha Electronic Seal Middleware." Before using electronic contracts, the approval and stamping process for paper contracts was lengthy, taking two months to sign each one, and there were issues like counterfeit seals, leading to a series of pain points and risks. Therefore, the distributor scenario was the first to go online with eSignZJ's electronic contracts. In 2021, tens of thousands of distributors adopted eSignZJ's electronic contracts, covering not only daily contract signing but also supplementary agreement scenarios such as distributor rights changes, sales area changes, and product line changes.
Next up, let's delve into the sales business. Wahaha and its distributors issue numerous notifications, manage sales personnel expenses, and handle sales-related scenarios such as labor contracts using eSign electronic contracts. All signing-related scenarios involving distributors have adopted eSign's products. "Sending unilateral notices to 7,000-8,000 distributors used to be time-consuming. With our own app, we've streamlined the process, enabling batch signing where the recipient can receive the document on their mobile device. Supply and authentication aspects have also been launched and are being promoted. There are many benefits to online signing."
Partners of eSign such as Yunxi Quantum and Power Law Intelligence shared various applications of electronic signatures in different scenarios. "I believe that with everyone's joint efforts, electronic signature technology will play an increasingly important role in the real estate industry, injecting new momentum into the industry's continuous development and innovation," said Shi Xi, Vice President of Power Law Intelligence.
The eSign City Summit is one of the key thematic events of the "National Tour of Electronic Contracts." Starting from promoting the widespread use of electronic contracts, the event aims to extend the reach of intelligent, user-friendly, and secure eSign electronic contracts to more domains and penetrate deeper into various scenarios. eSign hopes to address industry pain points, create value and social welfare, actively fulfill social responsibilities, and contribute to the sustainable development of society by promoting the development and popularization of the electronic contract industry.
