Tour operator Virgin Holidays is now able to process purchasing contracts in minutes instead of hours after implementing DocuSign’s Digital Transaction Management (DTM) technology.
Prior to using the software, Virgin Holidays would take two hours to process purchasing contracts internally. Now, it takes less than 10 minutes because contracts are managed centrally.
Two separate departments of Virgin Holidays, purchasing and HR, have implemented DocuSign to manage contracts and to use the e-signature functionality.
The purchasing department was the first to install DocuSign’s transaction management platform to centralise the filing of its contracts.
Before the software was implemented, all contracts in the department were kept in a range of different forms and locations, including in just a staff member’s email inbox. This made it difficult for the department to track existing and in-progress contracts.
The department also struggled to have an overview of all active procurement contracts across the company, as people in other divisions of Virgin Holiday would agree contracts and either forget to tell the purchasing department, or send the contract months later.
Now, the department can track and manage the contracts more efficiently, ensuring all stakeholders in a deal have signed a contract internally before it is released externally. This has led to the reduced purchasing contract process time.
Also, other areas of Virgin Holidays are now willing to use the purchasing department to arrange contracts because it is faster and easier than creating their own paper contracts.
“DocuSign was the carrot we needed to convince people to handle their contract centrally, and thanks to that we’ve got an unprecedented view of what is happening across the business with our contracting process,” said Patrick Joint, procurement manager at Virgin Holidays.
Meanwhile, HR wanted to implement Docusign to cut costs and to ensure the security of sensitive documents it handled, like employment contracts
Claire Willoughby, human resources business partner at Virgin Holidays, said: “Our aim in working with DocuSign was to create a paperless office. We’ve achieved much more.
“Signing times are down hugely both internally and externally, admin time has been reduced massively, and we’ve saved around £10,000 per year in materials costs alone. For less than a month’s work installing the system, DocuSign has been invaluable.”
The time taken for new employees to sign and return employment contracts is also lower. Virgin Holidays often recruits new staff for its retail outlets a couple of days before their start date, which requires contracts to be signed and returned within 48 hours. However, employees would take up to two weeks to sign and return the documents.
With DocuSign, Virgin Holidays is now able to meet the 48-hour deadline.
The HR department is now planning to roll out the technology across other areas of the business, such as the Learning & Development department.