Seal Software, the leader in AI-powered contract discovery, data extraction, and analytics to be a core component in the MediTract contract lifecycle management platform.
Seal Software, the leader in contract discovery and analytics, has entered into a strategic partnership with TractManager Inc. to deliver the contract analytics platform for MediTract. TractManager’s MediTract division provides hospitals and non-acute care facilities with an enterprise contract lifecycle management solution that automates workflow and increases contracting compliance. One quarter of all US hospitals use Meditract for compliant contract management.
“With the Seal analytics platform, our clients will be able to quickly locate important clauses in the event of a critical occurrence, identify which contracted provisions pose the greatest risk, and ensure they are benefiting from the cost savings and revenue opportunities that are currently ‘hidden’ in their contracts” said Trace Devanny, chief executive officer of TractManager. “We evaluated all the leading contract analytics players and Seal is clearly the most advanced on the market, not only in terms of technology but also in their understanding of how to extract insight from contractual information and surface it to drive value for organizations.”
“I am delighted to be partnering with TractManager” said Ulf Zetterberg, founder and chief executive officer of Seal. “MediTract is considered the ‘gold standard’ in contract lifecycle management and when we couple our data and analytics solutions with their proven platform, we create an even stronger value proposition for TractManager’s client hospitals and health systems, and ensure MediTract’s market dominance well into the future.”
About Seal Software
Seal Software is the leading provider of contract discovery, data extraction, and analytics. With Seal’s machine learning and natural language processing technologies, companies can find contracts of any file type across their networks, quickly understand what risks or opportunities are hidden in their contracts, and place them in a centralized repository. Based in San Francisco, Seal empowers enterprises around the world to maximize revenue opportunities, reduce costs, and mitigate risks associated with contractual documents, systems, and processes. For more information, visit Seal Software at www.seal-software.com.
Spark for Seal Software
About TractManager, Inc.
TractManager’s healthcare-specific strategic sourcing application suite serves the sourcing and contract management needs of three out of five U.S. hospitals. Serving the healthcare industry with integrity for over 30 years, TractManager is the first-mover in strategic sourcing and enterprise contract lifecycle management. Our advisory services wrap around each solution component, optimizing sourcing and service category management, while supporting best-practice contracting processes. With divisions in Dallas (MD Buyline), Chattanooga, Tenn. (MediTract), and Hudson, Ohio (MedApproved), we are dedicated to helping our clients reduce their capital and non-labor costs, and conform their contract, policy, and procedure management to meet regulatory requirements.
Sandra L. Taylor, Ph.D.
Chief Marketing Officer, TractManager, Inc