Welcome Seal Software – and a Contract Management Webinar next week!

We introduced Gatewit the other day; our second new sponsor for Spend Matters UK / Europe is Seal Software. In their case, this is a transatlantic agreement, so they’re going to be working with Jason and colleagues at Spend Matters US as well.

Seal was founded by Ulf Zetterberg,  who is Swedish. His co-director, Steve Tucker, cut his purchasing teeth at Mars Confectionery in Slough – some years after I did the same.  Tucker then became an entrepreneur, and founded Intersources, which was bought by Hubwoo a few years back.  Zetterberg has now moved to the West Cost to drive the Seal US business, whilst the UK operation has its office in Bracknell.

Now, there aren’t many firms we write about here where we can truly say their offering is unique, but in the case of Seal, they appear to have a product that is – in some important aspects at least – just that. Their software addresses contract management, but its particular beauty comes in the area of “contract discovery”.

What does that mean? Well, have you ever moved into a new procurement role and asked “can I see all the major contracts / the contracts database”? And been greeted with ironic laughter from your new colleagues, then pointed towards a cupboard, cabinet or room, where (if you’re lucky) maybe 50% of the key contracts will be sitting in their hard copy glory. I know I have. But we would all like to know what is in our organisation’s contracts – the risks and opportunities they hold. But it has  often seemed an impossible task to get that level of understanding and visibility.

So the Seal contract discovery product allows an organisation to capture, gain visibility, classify, and interrogate the full contract population, with a high degree of automation. Remarkably quickly, you can see which contracts you have in place, their key terms and conditions, identify particular issues and risks, and share all this with colleagues instantly.

For a typical customer, it reduces the time and effort (and therefore cost) of running a discovery process  by an order of magnitude. I’ve had a quick demo, and it is like nothing else I’m aware of, and as close to magic as any procurement related software I’ve seen.

Anyway, you can read more about Seal in this article by Jason Busch on Spend Matters US, and go back to the more detailed review from Thomas Kase (Spend Matters US) if you want more information.  We’ll also feature a longer post on the product soon. But for the meantime, welcome to Seal!

Hot off the Press! Register now for a free Webinar  with Jason Busch and I talking about the latest thinking in Contract Management – 5.30 pm UK/Portugal time / 6.30pm Western Europe on Tuesday September 25th.

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