Docusign to integrate contract management platform with ChatGPT

SAN FRANCISCO - Docusign (NASDAQ:DOCU) announced Thursday that its Intelligent Agreement Management (IAM) platform will soon be available within ChatGPT through OpenAI's Model Context Protocol (MCP). According to InvestingPro data, the company appears undervalued with its current price of $72.81, while maintaining a "GOOD" overall financial health rating.

The integration will allow users to create, sign, and manage contracts directly in ChatGPT without switching between applications. According to the company's press release, users will be able to draft documents, create purchase orders, and analyze existing contracts through conversational prompts.

"AI is changing how people get work done, and the biggest impact will come when it connects directly to the tools we trust every day," said Allan Thygesen, CEO of Docusign.

Docusign is building a connector using the MCP open standard that will link ChatGPT with the company's IAM platform while maintaining security and compliance features. The company demonstrated the integration at its annual developer event, Docusign Discover.

Giancarlo Lionetti, Chief Commercial Officer at OpenAI, stated the integration would help "teams move from conversation to agreement in fewer steps."

Docusign currently serves over 1.7 million customers and processes more than one billion agreements annually. The company claims this integration represents a significant step in its strategy to extend intelligent agreement management capabilities to various work platforms.

The announcement did not specify a launch date for the new integration.

In other recent news, DocuSign announced the integration of its Intelligent Agreement Management platform with OpenAI's ChatGPT, allowing users to create and analyze contracts within the AI chatbot. This integration enables seamless drafting, signing, and managing of agreements through conversational prompts, enhancing user experience with DocuSign's AI technology. Additionally, DocuSign and CLEAR have launched a new identity verification solution in the U.S., incorporating biometric technology into DocuSign's agreement platform to combat identity fraud concerns.

Citizens has reiterated its Market Outperform rating on DocuSign, maintaining a $124 price target after meetings with the company's Head of Investor Relations. Despite DocuSign's stock decline of 21% year to date, Citizens remains optimistic about its performance. The firm also reaffirmed its positive outlook despite a 17% drop in DocuSign's stock following OpenAI's release of DocuGPT.

Meanwhile, HubSpot shares fell 10% after OpenAI introduced internal software applications that could compete with existing SaaS offerings. OpenAI's announcement included tools for sales enablement, inbound marketing, customer support, and more, with plans to showcase additional solutions at their upcoming DevDay.

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