Fighting for a paperless world - Interview with Keith Krach

DocuSign is winning a landslide victory with its cloud solution for secure digital signature and
automated business processes. More than 200 million people in 188 countries already sign their
business transactions virtually with DocuSign. With an estimated worth of 3 billion dollars and
300,000 new users every day, Docusign is a trailblazer in the automation and digitization of
business processes. Robotics pioneer at General Motors.

Krach founded his first start-up, Rasna Corporation, at the end of the 1980s with the revolutionary idea of integrating computerbased designs into automated processes and sold the software company in the 1990s for 500 million dollars. Following the idea of automating management processes, he set up Ariba, the web-based trade network, later sold to SAP for 4.3 billion dollars. In 2011 he took over the startup DocuSign with the same mission of automating and digitizing business processes. In Silicon Valley, the father of five kids today is mentioned in the same breath as Bill Gates and Steve Jobs and is part of the legendary network of Silicon Valley icons.

In the following interview, Verena Fink, Founder of Woodpecker Finch and consultant for customer-centric innovation, BOARD expert for digital impulses from Silicon Valley speaks with Keith Krach about how trust transforms business.

BOARD: DocuSign's Digital Transaction Management platform seems to be a Swiss army knife. How would you describe it in one word?


Keith Krach: DocuSign in one word is trust. We provide the trusted service on the DocuSign Global Trust Network because we are dealing with people’s most important documents. Documents you sign, your most critical important decisions, the ones you need compliance and data privacy and security for. It is a trusted network that allows for fast, frictionless and secure transactions on a global network that universally translates. Trust is everything.


BOARD: Why did Paul Achleitner describe DocuSign as facilitator of Europe's digital
transformation?


Keith Krach: Well, everybody talks about Artificial Intelligence and Big Data. Paul and I agreed, that the first step is you have to get rid of the paper. If you look at 80 percent of the places where paper is used these days, it is because there is a signature required. So we help to get rid of the paper.

BOARD: How do you support European companies on this journey?

Keith Krach: DocuSign facilitates companies in the digital transformation because it has such a strong and quantifiable value proposition in terms of impacting the top and bottom line for companies. Secondly, it is a great customer experience which is the key aspect of customer satisfaction in digital transformation. The third thing of course is to reduce the risk in terms of compliance and security with all the multiple levels of authentication, data encryption and so on. Also important is the time to resolve in terms of implementation time. From a European perspective, the opportunity is huge because it speeds up commerce and facilitates global trade.


BOARD: Fast implementation sounds great, but how does it work?


Keith Krach: This is not a multi-year ERP implementation so you are able to get quick results. It’s like Tim Hoettges from Deutsche Telekom always says, “In order to steer the ship, the ship has to be moving. You have to get moving with quick wins, DocuSign gives us quick wins.” DocuSign is very simple to implement as it is cloud-based, using out of the box integration with all major applications for SAP, Salesforce, Microsoft and so forth. Open APIs make it really easy to integrate with any legacy code. So the speed to results is really quick.

BOARD: Together with Tim Hoettges, you just announced to take a further step in your strategic partnership with Deutsche Telekom. What led to this strong bond with strategic German investors like Telekom and SAP?


Keith Krach: It is very important that you have the leaders in each industry and powerful technology companies as showcases and partners. Many years ago, SAP rolled out DocuSign in all of their departments globally. They also invested in DocuSign and started reselling it, just like Deutsche Telekom. Having leaders in industries talking about demonstrated quantifiable value and showcases makes DocuSign much more credible and builds trust. We always say, one of the big keys to fast adoption is the executive champion at the top, the CEO. That’s why Tim Hoettges is so key not only at Deutsche Telekom, but for the rest of the world.


BOARD: How do you deal with German networks, being super sensitive in terms of data security?


Keith Krach: Data security is so very important these days! That’s one of the reasons why we helped facilitate the creation of the xDTM standard, which quantifiably measures quality in terms of data privacy, availability, security, enforceability, and compliance. The board of governors are the foremost thought leaders and security experts. We pioneered the category of Digital Transaction Management. The xDTM standard was of critical importance for setting the standard for trust, particularly for the Germans and Europeans.

BOARD: Aside from disruption and fun, what are your personal success factors?


Keith Krach: It is surrounding myself with great people who are smarter than me. I don’t believe in success as a result of luck, I think the definition of luck is preparation meets opportunity. The harder you work, the luckier you get. Our culture is very values driven. We maintain a high standard of our values which include integrity, respect, courtesy, courage, high ambition - those are noble ideals that guide us in terms of how we execute the mission. Most definitely, any personal success I have achieved is due to my dear wife Metta. I couldn’t do it without her.


BOARD: Thank you for the interview!

Please find the Interview with Keith Krach in German right here!

 

 

02.04.2021

"Führen durch Fragen"

Dr. Paul Achleitner studierte Rechts- und Sozialwissenschaften an der Hochschule für Wirtschafts- und Sozialwissenschaften in St. Gallen, wo er zum Thema „Sozio-politische Strategien multinationaler Unternehmungen“ promovierte....

02.04.2021

Sustainable Corporate Governance - Droht uns eine Überregulierung aus Brüssel?

Im Gespräch mit Jella Benner-Heinacher, DSW-Hauptgeschäftsführerin (stellv.) und Vize-Präsidentin bei BetterFinance. Das Interview für die BOARD führte Marc Tüngler.  Das vollständige Interview finden Sie im Archiv der...

02.04.2021

Das „magische Dreieck“: Sustainable Finance, Sustainable Reporting und Sustainable Governance - Regulierungen ante portas?

Prof. Dr. Patrick Velte ist Universitätsprofessor für Betriebswirtschaftslehre, insbesondere Accounting, Auditing & Corporate Governance, an der Leuphana Universität Lüneburg. In seiner Forschung und Lehre verknüpft Prof....

30.01.2021

Aufsichtsrat 2021 - Wer fragt, führt - Warum der strategische Dialog mit dem Vorstand nie so wichtig war wie heute

Harald Nikutta, Partner bei Control Risks und verantwortlich für DACH und Osteuropa im Gespräch mit Kai Beckmann, Director Governance, Risk & Compliance, Mazars GmbH & Co. KG WPG StBG, Hamburg, und Leiter des...

05.01.2021

Die Rolle des Aufsichtsrats - Corona als Katalysator

Dr. Martin Eisenhut und Marc Tüngler im Gespräch mit Jörg Schick.

30.12.2020

Die neuen Grundsätze guter Unternehmens- und aktiver Beteiligungsführung im Bereich des Bundes

Im Gespräch mit Herrn Ministerialdirektor im BMF Stefan Ramge. Herr Ministerialdirektor Stefan Ramge ist seit Mitte 2018 Leiter der Abteilung VIII im BMF und damit für Beteiligungen, Bundesimmobilien und Privatisierungen...

10.11.2020

Verbandssanktionen ante portas

Professor Dr. Bartosz Makowicz ist Universitätsprofessor an der Juristischen Fakultät der Europa-Universität Viadrina Frankfurt. Er ist Initiator und Direktor des dortigen Viadrina Compliance Center, der ersten intra- und...

22.10.2020

Professionelle Kulturentwicklung und nachhaltige Vergütung

Kerstin Artenberg, Vice President HR & Communications und Mitglied des Executive Committee der Borealis AG mit Sitz in Wien, gibt Einblicke, wie gerade der Aufsichtsrat Kultur und damit eine nachhaltige...

22.10.2020

Value Balancing – der zukünftige Accounting-Standard für Non-Financials?

Christian Heller ist CEO der Value Balancing Alliance e. V. (VBA) mit Sitz in Frankfurt a.M. und Vice-President bei der BASF. Die VBA ist eine von Unternehmen gegründete Non Profit Organisation, die das Ziel verfolgt, einen neuen...

01.07.2020

Stellungnahme des IDW zum Entwurf eines Deutschen Public Corporate Governance-Muster-Kodex (D-PCGM)

Melanie Sack ist Wirtschaftsprüferin und Steuerberaterin. Seit 1.4.2018 ist sie geschäftsführendes Vorstandsmitglied des Instituts der Wirtschaftsprüfer in Deutschland (IDW). WP/StB Dr. Viola Eulner ist Fachreferentin im IDW und...

Imagebroschüre

Ein-/Ausblenden

Compliance-Leitfaden

Ein-/Ausblenden

Ein-/Ausblenden

Aufsichtsratsstudie 2021

Hier finden Sie die Aufsichtsratsstudie 2021 als PDF

Online-TV für Aufsichtsräte

Ein-/Ausblenden

Fachmitglieder

Ein-/Ausblenden

Ihr Kontakt zu uns

Ein-/Ausblenden

Haben Sie Fragen zum Arbeitskreis deutscher Aufsichtsrat?

Kontaktieren Sie uns gerne per