Last week in New York City, we hosted our annual US Seal Insight user conference. This year, more than 200 customers, partners and Seal team members came together to share ideas, challenges and success, and it was a thrill to be a part of this event.
One of the brightest spots of the conference was the introduction of Seal Now™, our new solution for contract negotiation. Seal Now is a “killer app” for the negotiation of third-party paper – documents that were drafted on another party’s templates, or any document that has been substantially revised and redlined. This has been a massive pain point for our customers, and indeed for the market as a whole. Estimates suggest that a typical contract negotiation process takes more than 30 days, and some of our customers have already reported remarkable time savings of up to 80% after deploying Seal Now.
What these companies are saying is that Seal Now is a significant step forward in the “democratization of AI,” as it brings Seal’s leading enterprise-class analytics directly onto our clients’ desktops and into the Microsoft Word environment–the place where contract negotiators want to do their work.
I am particularly pleased with the development of Seal Now for two reasons. Firstly, upon taking on my role as CEO earlier this summer, I set as our highest priority to put our customers at the center of everything we do. Seal Now embodies this customer-centric mandate. It actuates the desire expressed by our customers, which I have heard since my work at Seal began more than two years ago, to bring the full power of Seal into the initial phase of the contract lifecycle, specifically to help them negotiate complex agreements more effectively. Help us ‘fix it before we sign it,’ has been the ask, and with Seal Now we will do just that. Our customers have also asked us to make Seal more accessible to everyone working on contracts. With our Word interface, Seal Now is a huge win on this front as well.
Secondly, Seal Now represents the collective effort of our entire company. We are a diverse, global organization with outstanding development resources in far-flung places including Sweden, Cairo, London, North Carolina and, of course, the Silicon Valley. Teamwork is the foundation of everything we do from working with and exceeding the expectations of customers, to building great products. The creation of something as powerful as Seal Now would not have been possible without the close collaboration of everyone at Seal, and this provides a powerful blueprint for future innovation that will bring exciting new solutions to our customers.
Going forward, it is clear that contract professionals will increasingly rely on AI in their negotiations as much as they do spellcheck or redlining. The time to begin the journey of business transformation that will result from bringing AI to the negotiation process is now … more specifically, Seal Now.