Seal was recognized for its contract discovery and analytics platform which discovers contract documents across an organizationâ€™s network
Online PR News – 27-October-2016 – United State, California – Seal Software announced today it has been named a 2016 Legaltech News Innovation Award Winner for its Contract Discovery and Analytics platform.
Submissions for the Innovation Award were made by the LegalTechâ€™s more than 40,000 readers, and a panel of judges comprised of Legaltech News and The Recorder editors selected the winners from across hundreds of finalists. They evaluated candidates across many criteria, and describe the winners as the â€śwho's who of the legal tech industry, collectively moving the needle forward.â€ť Seal and the other award recipients will be recognized on June 13 in San Francisco, in conjunction with Legaltech West Coast.
Seal was recognized for its contract discovery and analytics platform which discovers contract documents across an organizationâ€™s network, uses artificial intelligence to extract important terms, provisions, and clauses, and report on that data using intuitive data visualization tools. The actionable insight provided by Seal to its customers is used make strategic business decisions at many Fortune 1000 organizations.
Seal was recognized in the Risk Management category not only for its infrastructure software, but as a highly tuned and trained solution to understand, learn, and extract contract data â€“ even from non-searchable document files. The data it extracts helps businesses fully understand the risks, liabilities, and opportunities that are hidden deep within its repository of contracts, which may include hundreds of thousands of documents. It significantly enhances their ability to control risk from many types of business events such as M&A, changes in regulatory mandates, new business initiatives, security breach, etc.
â€śWe are excited and honored that LegalTech News has recognized our platform as one of the most game-changing solutions for the legal profession,â€ť said Ulf Zetterberg, CEO of Seal Software. â€śOur technology gives legal teams immediate access to all the contract data they need, much faster, more accurately, and at a lower cost than traditional contract reviews. Weâ€™re very proud to be recognized for the investment weâ€™ve made in our technology.â€ť
Currently, Sealâ€™s solutions are utilized by legal services firms and legal operation teams around the world. Seal has grown its revenue and employees by 100% every year since its founding in 2010. Seal has over 100 customers, including McKesson, Deloitte and legal services firms such as Apogee Legal. McKesson has publicly stated that its deployment of Sealâ€™s platform has resulted in a 75% reduction in the time to find contracts, and an estimated 80% savings in time to identify a key contract term. goo.gl/VGr68i