Australian workplaces are experiencing a notable productivity slowdown, with new research indicating that inefficient contract management processes are contributing to the country's economic challenges.
The latest report from Docusign, in collaboration with Deloitte, identifies outdated and manual agreement procedures as a factor behind ongoing micro-inefficiencies in businesses, which, when accumulated, significantly impact national productivity levels.
The findings come as the Productivity Commission's most recent bulletin highlighted only a 0.2% growth in output, while hours worked rose by 0.3%—leading to stagnation in productivity results in early 2025.
Despite widespread adoption of digital transformation initiatives and artificial intelligence (AI), many organisations still depend on fragmented contract workflows. According to Docusign, such inefficiencies equate to more than AUD $3.13 trillion in lost economic value on a global scale each year.
Key findings;The Docusign-Deloitte survey focused on the Australia and New Zealand (ANZ) region, uncovering the scale of the so-called 'Agreement Trap'.
Lengthy negotiation cycles and delays in approval are prompting business leaders to prioritise operational efficiency measures. The study shows that 68% of ANZ decision-makers rate their contract creation capability as advanced, with 55% attributing significant performance improvements to this maturity.
"Reversing Australia's weak productivity performance is one of the most urgent economic challenges we currently face, and slow business processes are only exacerbating the issue. It is perhaps no surprise that we're seeing businesses focus on tactical use cases like contract creation; what may seem like siloed inefficiencies at the individual business level actually causes a considerable strain on productivity when multiplied at the scale of the economy,"
said Shaun McLagan, Group Vice President and General Manager for ANZ at Docusign.
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