Seal Software, a provider of solutions to maximize revenue opportunities and reduce expenses and costs associated with contractual issues, unveiled the latest version of the Contract Analytics platform designed specifically for users who demand greater visibility and control over their contracts throughout the enterprise.
The Contract Discovery platform from Seal Software is used by numerous organizations around the globe for finding contracts wherever they may reside like hard drives, network drives, and software apps, as well as to extract contractual terms. The features of Contract Discovery help users to easily understand all contractual obligations and benefit from carefully negotiated terms.
Now the newly released Contract Analytics solution supposedly takes Contract Discovery to the next level and is stated to be the only self-service contract abstraction and analysis solution available today.
Ulf Zetterberg, founder and chief executive officer at Seal Software, remarked, “With the average Fortune 500 company managing up to tens of millions of contracts each year, contracts have become a critical asset class in their own right requiring dedicated management. The new Seal Contract Analytics platform offers legal teams and contract professionals complete visibility into their contract portfolio with advanced control over search parameters to extract and analyze exactly what they need, when they need it. Whether it's due diligence during a merger and acquisition or updating shifting terms and conditions over time, Seal helps legal teams answer questions in literally hours instead of days or weeks through its dynamic extraction process.”
With options to be used in conjunction with the Contract Discovery platform, the new Contract Analysis is termed as a dynamic system that discovers and informs users of revenue opportunities, expenses, and costs within their contractual obligations. The solution blends Contract Discovery review functionality with advanced search, rules and Seal's assisted review technology and enables users to ensure that the best overall terms are applied to all contracts regardless of origin and seamlessly gain insight into divergences from approved contract templates.
Thomas Kase, vice president of research at Spend Matters, added, “At Spend Matters, we review more than 100 supply chain and procurement solutions annually, and it is rare for us to find a solution that both meets a substantial business need, and also has no direct competitor in the marketplace. Seal’s Contract Discovery and Analytics solution is one of those rare products, and from direct conversations with Seal's clients we can confirm that the solution delivers on what is promised. It's well worth looking at for any firm needing to fully understand what a company is contractually committed to.”