INTRODUCING SEAL VERSION 5.4

Seal Software is the leader in AI-powered contract discovery, data extraction, and analytics, for Global 2000 companies. Procurement and legal teams across the world are using Seal to reduce legal review times by an average of 45%-65%, drive millions in procurement costs savings and transform contracts into valuable sources of business intelligence for business transformation and strategic planning.

Seal Bringing AI-Driven Big Data Analytics to Contracts

Companies intent on driving strategic intelligence, operational efficiencies, and sales, have long mined a wide variety of structured data sources for insight. But, as advanced as these mining technologies have become they still have not tapped the raw information stored in unstructured content. Every Global 2000 company has tens-of-thousands of contracts controlling the flow of billions of dollars and untold amounts of liability and risk, yet these strategic documents are virtually ignored once executed. Even companies with a mature contract lifecycle management system and processes struggle to gain visibility into their contracts. Seal is changing this paradigm by mining unstructured content for data and insights. Unlocking these documents value also unlocks the opportunity to use this information to make informed decisions in vendor management, risk analysis, and strategic analysis.

Seal is a machine learning platform for discovering, reviewing, and analyzing contracts and other unstructured content. Seal leverages several technologies in combination to:

  1. Find all current contracts and eliminate the “garbage”
  2. Create searchable versions of all contracts
  3. Automatically build and refresh trusted metadata to support search, analysis, and reporting
  4. Enables use of user preferred tools – including MS Word and eSignature solutions
  5. Analyze contract data for 360° vendor visibility and compliance monitoring
  6. Establish and measure progress towards defined outcomes

The use of AI technology in the enterprise provides both advantages and challenges. From day one Seal focused on creating outcomes that exceed enterprise user expectations. Designing in the scale, adaptability, user experience and manageability that sets it apart from legal AI solutions designed for legal firms or generic AI platforms that take dedicated data scientists armed with reams of relevant data to train.

Seal Technology Solves Problems and Enables Analysis of Contracts for Risk and Outcomes

Problem: Contracts are scattered across the organization in various searchable and non-searchable formats. If metadata exists it is out-of-date and not trustworthy.

Solution: Seal Contract Discovery and Classification - establishes a clean, trusted, and unified access point for all contracts 

Seal’s discovery functionality is specifically designed to identify contractual documents across the network and through the scanning of physical documents. Seal then uses embedded OCR and patented AI technology to create a searchable version of all documents, a search index and extracts key information related to contractual language, clauses, clause combinations, and the key contextual metadata held within each document. The process supports multiple languages and may be conducted in discrete phases. The process eliminates the high cost and error-prone manual search for and review of tens of thousands of contracts.

Problem: Companies assume that because they have a contract lifecycle management(CLM) system the built-in metadata framework will meet their search and reporting requirements. But the reality is that it is impossible to ensure users enter metadata accurately and consistently and even more problematic and costly is the challenge of retrofitting the system and existing documents to meet new metadata requirements.

Solution: Seal automates entity/metadata extraction and refresh, providing visibility into contract data without the need to manually create and update metadata. The extraction may be repeated whenever there is a need for additional information to support new business or risk management requirements.

Seal has predefined standard contractual terms for each major use case that can be extracted from documents. Specialized extraction packs are available for extracting terms relevant to specific topics including GDPR, QFC, M&A, and VCC. For unique company requirements, users may configure bespoke policies for extracting the terms and clauses, the process is simple and requires no special technical skills or additional resources. For reference purposes, there are hundreds of predefined terms, companies will generally utilize 20-30 of the standard terms and a mix of specialized or bespoke terms depending on individual group or portfolio needs and use cases. All extracted terms may be fed data directly into transactional systems and digital processes – including the Seal logic Engine that can normalize or calculate new metadata based on one or more other data elements or criteria.

Problem: Some contract language is unspecified and inconsistent, requiring manual reviews to gather information: i.e. inferred dates: “Termination six months following date of XXXXXX”; non-normalized party name: ABC vs. Acme Business Corporation

Solution: Seal AI enhanced logic engine for normalization, calculation, and enhancement of extracted entity information

In version 5.4, Seal introduced the Seal Logic Engine that enables the application of business logic to further enhance the entity extraction process, including the calculation of values, dates, the normalization of contract parties’ names, and more. Designed for use by the business analyst responsible for digital processes, data flow, and information integrity, the new logic engine capabilities will continue to be expanded to further enhance digital transformation of unstructured content processes.

Seal Logic Engine

 

Problem:  Contract negotiation often relies on third-party paper and Microsoft Word – both are outside the defined contract lifecycle management tool and process. This breaks down the value proposition of the CLM process and creates a visibility problem into the contract repository.

Solution: Seal provides a trackable clause library, an in-line document viewer for rapid document review and a Microsoft Add-in for contract authoring, updates, and redlining. 

Unlike traditional CLM processes that require use of proprietary system and templates to maintain visibility into contracts, the Seal solution can work directly within Word. The solution supports in-house or third-party templates and still maintains full visibility and control of the document metadata. The advance comparison, redlining and in-line access to the approved clause library for rapid replacement of non-standard clauses are all customer favorites.

Problem: The concept of slicing and dicing contractual data in the same manner that transactional data is analyzed is new. Many organizations eager to drive this information into their digital transformation processes do not have the time or resources to manage generic AI-enabled technologies.

Solution: Seal is committed to positive user outcomes. The Seal AI technologies and services options are designed specifically to help Global 2000 enterprises achieve rapid time to value and continuous ROI.

Option 1: For companies looking to gain the advantages of a cloud-based solution, the Seal Cloud Services (SCS) is a secure managed service where Seal deploys and manages the entire software stack and infrastructure leveraging the latest automation tools and cloud technology - including the Google Cloud Platform (GCP) with the Tensorflow TPU technology which has been designed to optimize the execution of specific core machine learning models used by Seal.

Option 2: For procurement teams looking to define and measure performance against outcome scenarios the Seal Enterprise Analytics solution is a product module and companion service that helps procurement teams establish and measure progress towards defined goals, with actionable insights to drive cost savings and working capital optimization.

Option 3: Seal Professional and Learning Service teams are staffed with subject matter experts that are trained to help customers throughout all phases of design, implementation, management, and maintenance to help ensure expectations are met and exceeded.

 

 

 

 

 

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Some of Our Customers

  • BOSCH
  • DocuSign
  • Experian
  • Schlumberger
  • KAISER PERMANENTE
  • Experian
  • Humana
  • PayPal
  • United Technologies
  • MERCK
  • aldermore
  • centrica