SAN FRANCISCO, Dec. 15, 2015 /PRNewswire/ -- Seal Software today announced that Deloitte, the British multinational professional services company, has selected Seal Software's leading Contract Discovery and Analytics solution as a foundational technology in its global Compliance and Risk practice. The use of Seal will enable Deloitte to provide contract discovery and analytics capabilities to their global clients, giving them immediate visibility into their contracts in order to mitigate risk and uncover new commercial opportunities based on their existing, and future contractual agreements.
Seal Software's platform seamlessly searches an organization's document repositories, shared drives, and file servers to identify contracts, centralize them as searchable documents in one location, and extract key terms, provisions, and clauses that define the business relationship. Seal quickly and efficiently automates labor-intensive contract reviews, allowing Deloitte's Compliance and Risk practice to more heavily focus on higher-value risk and compliance advisory services for its clients.
"We're excited to work with Seal to utilise their technology to support our review and analytics capabilities to help our clients understand their contractual liabilities, opportunities and obligations," said Kristian Park, Partner, Contract Compliance and Risk, Deloitte. "Essentially, we look to mitigate risks and uncover the hidden benefits within our clients' contracts and Seal's technology allows us to increase the levels of service and value we provide."
Seal's solution will provide Deloitte with the ability to automate the discovery and analytics of buy-side and sell-side contracts, and other legal agreements such as NDAs and leases. The discovery portion of the solution locates and reviews the contracts, and then extracts over 50 pre-defined contract terms and data. The analytics portion of the solution builds on this to enable the learning of an organization's specific languages and clauses, and can be trained to search for specific elements, regulatory issues, and even non-standard clauses.
"More and more businesses are looking to mitigate risk, and Deloitte is a leader in providing advisory services for compliance and risk management," said Ulf Zetterberg, Founder and CEO, Seal Software. "We're excited to form this global alliance with Deloitte to support their client engagements with increased access and visibility into contracts, ensuring more effective risk analysis and stronger adherence to regulatory mandates."
About Seal Software
Seal Software, the leading provider of contract discovery, extraction and analytics solutions, enables companies around the world to effectively manage their contract portfolio by understanding exactly where their contracts are when needed and, more importantly, what is buried within them, in order to maximize revenue opportunities, mitigate risk and reduce expenses.
Seal Contract Discovery locates contractual documents within minutes wherever they reside within an organization and is rapidly deployable; extracting key contractual terms and clauses, rendering them for easy review, and populating corporate repositories, including, Customer Relationship Management (CRM), Contract Lifecycle Management (CLM), and Enterprise Resource Planning (ERP).
Seal Contract Analytics empowers clients to analyze contracts by discovering specific language and clause combinations that are most relevant to your business. The Seal platform is used within 8 out of 10 of the top Legal Process Outsourcing (LPO) providers, legal review and advisory firms, delivering increased visibility into time-critical opportunities and risks while alleviating contract review processes and technical challenges.
For more information, visit Seal Software at: www.seal-software.com. Connect with Seal Software on Facebook, LinkedIn and Twitter.
SOURCE Seal Software