So, I need a way for Salesforce to automatically create a contract record when we receive a DocuSign back as Complete.

Today, we have to create a Quote, fill out the fields, then click on the Loop Plus button to create a DocuSign. When we are ready to send the contract, we have to create a contract record, then click on the Loop Plus botton on the contract to create a DocuSign. The problem is that we have contracts out there that are not signed and create bunch of extra work for our contract reviewer in having to reach out the rep to delete the contract record. I could create an email alert that goes out after so much time stating that the contract is still in draft. However, we would really like to have the contract auto-created when we receive a completely signed DocuSign. We would also like the fields to auto-populate with necessary information and have certain picklist field values selected (these picklists trigger email alerts to accounting and training). 

So here is what we have today as a process:

1.) Quote record created from related list on Opportunity
2.) Contract record created from related list on Quote 
  a.) Contract record fields are filled in. Payment Status is automatically set to "Incomplete" and Contract Status is set to "Draft".
  b.) Contract document is prepared using Loop Plus custom button.
  c.) User clicks on link that will send document using DocuSign.
  d.) Document attaches to the Contract and Oppty records as a pdf.
3.) Document is signed by customer. Details show up in the Oppty in related list "DocuSign Status"
4.) Document is signed by Company. Details show up in the Oppty in related list "DocuSign STatus".
5.) Document is now status = Completed

Here is what we want:

1.) Contract document (Loop PLus/DocuSign) can be created from either Quote or Opportunity.
2.) When DocuSign is Completed, the contract record is created and attaches to record.
  a.) Contract fields autopopulate with fields from Oppty or Quote,
  b.) Status = Activated
  c.) Payment Status = Ready to be Invoiced

Sorry this is so long winded. Just wanted to be sure to cover any questions.

I was considering using Process Builder or Flows, but not really sure which one makes sense for this scenario. Also, I am a novice with both and Builder seems to be a little more complex than Flows.

Any help is appreciated,

Thanks, Shannon