DocuSign, Inc. (NASDAQ:DOCU) Q4 2023 Earnings Call Transcript

Scott Berg: Congrats on the strong finish to the year. I guess, Allan, I wanted to focus on product strategy going forward because product seems to be a big theme of where you want to invest in going forward. But leveraging off your WebForms comments, how should we think about your product road map maybe over the next, I don’t know, 12 to 24 months? Is it going to be more of a little small add-on solutions like what WebForms is likely to bring at least from what my assumptions are of that product? Or is there an opportunity to see some product that may be a little bit more transformational something that could give your sales and maybe bookings or billings more of an uplift going forward?

Allan Thygesen: Yes. Actually, I think WebForms has a little bit more potential than that. We’re very optimistic because I think it really — it epitomizes the transformation of agreement with sort of a static representation of a traditional form to completely new customer experiences. And the other thing it does, of course, is it makes it much easier to capture all the meta data around the agreements, which is really where we’re heading in the longer term. As you think about what we want to do is we want to decompose agreements into dynamic objects that can be filled both with data from the customer side and from the signer side. And WebForms is the first step of that process. There’s a lot more coming in the remainder of the year along those lines.

So, we’re quite bullish on the cumulative impact of all of those launches. But obviously, version 1.0 will have some gaps. In terms of the transformational piece, I think I touched a little on the AI piece. I — we have a lot of opportunity there. And so, we have some — we will be making some announcements on that later this spring, as the beginning of a new product in that area. And over time, I think the work that we’re doing now to completely revamp how we leverage AI is very exciting. So, if you think about the application of AI in the agreement space, a lot of the excitement right now around ChatGPT and the other — and the competitors are around basically text generation, and that has an obvious analogy to the agreement space of drafting contracts.

And we do think that’s very exciting and that there’s value to be captured there, and we will absolutely pursue that. But, if you look at where companies actually find value from agreements, it would be more in the extraction of data and value out of the agreements as well as the search and analytics on that. And you can also apply AI to that. And that’s an area where I think we are uniquely positioned to deliver very compelling value, and we got a number of large customers who are very excited to work with us on that type of next-generation AI activity. I don’t think — that’s not going to hit in the next couple of quarters. But in terms of the longer-term road map and delivering on our vision, it’s incredibly exciting and could really provide transformational growth.

Operator: Our next question is from Rishi Jaluria with RBC Capital Markets.

Rishi Jaluria: Two here. First, I wanted to start — kind of reembracing more of your routes around self-service and PLG. Allan, I think the strategy makes a ton of sense and should actually help yourselves efficiency as well. From a product standpoint, is there anything that you need to do to make kind of that self-service PLG motion more intuitive or easier, especially outside of your mobile customers, right? If we think about even the mid-market customers, there should be a lot more self-service capabilities. Just anything that you need to invest in or expand from a product perspective? And then, I’ve got a follow-up.