Spend Matters 50 To Watch — Seal Software

Following the launch of the Spend Matters 50 to Know and 50 to Watch list, our US site and our colleagues are running through all the providers to give the reasoning behind their inclusion. These are brilliant short summaries of each company’s offerings, and will be of great value for many readers. We are adding our comments about the firms; for some we may have little to add, but for others we can offer further value and insight. We will then give you the link to the US post for you to read in full if you wish.

When I first heard about the Seal product, it seemed too good to be true. This tool could discover all the contracts that our organisation had entered into, wherever they were hidden in (electronic) files around the entire business? It sounded like magic. Then I had a demo of the system , and ... it works!  Using very clever search algorithms, it seeks out contract documents from your systems, then enables you to search and sort based on key factors in the contract - for example, you might look for all contracts expiring within the next 3 months, or all contracts that contain liquidated damages clauses.

It was one of those products that I immediately thought "I would have bought that if I were still a CPO."  So it has been pleasing to see Seal doing well over the past couple of years, although really, it still aren't as well known as it deserves to be. Here’s an excerpt from the US review:

"Seal’s Discovery and Analytics tools are Java-based solutions that address contract discovery, onboarding, and ongoing analytics. Both products are quite novel, and the Discovery tool is a completely new contract management product segment and unique, though you’d think competitors would have caught on by now. Why is their Discovery solution so valuable? It boils down to this ..."

"The company is British but based in California, and its founder and CEO was born in Sweden. Their global approach continues as the company has now added the capability to train their tool to fetch contract content in just about any language ... It is clear to us that Seal knows CLM. Their solution is still completely unique in the industrial procurement market."

You can read the whole report here.

 

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