Seal Software Simplifies Interpreting Contractual Relationships
SAN FRANCISCO, CA: Seal Software, the comprehensive platform for contract discovery and contract analytics discloses the expansion of customer base of its AI-based solution with more than 100 organizations. The unique feature of this integrated solution allows customers to instantly locate customer documents across the organization; which has attracted the customers globally. “We attribute the rapid adoption of our platform to its speed, accuracy, scalability and the tangible business value it provides,” says Ulf Zetterberg, CEO of Seal Software.
The platform uses Natural Language Processing and advanced Machine Learning techniques to review and extract key terms, provisions, obligations and incentives from the documents. Latent Semantic Indexing helps in identification of relationships among terms and concepts. Seal customers are now able to retrieve all the relevant information about any contracts and use them to raise the revenue levels, eliminate risks and minimize expenditure.
In addition to keyword searches, the solution can identify themes and clauses using various combinations of words proving a strong foundation in identifying non-standard clauses or provisions that may be written in abstract or confusing ways. A set of 15 different algorithms such as MaxEnt, LSI, JAPE and SVM operate together to boost the power of contract discovery, data extraction and deep analytics.
Seal Software serves every industry fetching it with more customers. Some of them are,
Tech Company Divesting Its Businesses: A technology company was to spin off another company to realize better focus and agility. Seal software efficiently handled this short timeframe deal by reviewing the contracts, extracting keywords and providing necessary information. This facilitated the judgment on reassignment of contracts to the parting companies.
International Manufacturer Looking to Mitigate Risk: Household Appliances Company branched in several countries was looking for a 360 degree view of all its contracts. But the lack of transparency led to many obligations. The intervention of Seal Software made gave employees an upper hand over managing these contracts which gave them more time to spend towards higher-value tasks for risk reduction and adhering to compliance regulations.
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