London, UK – 13th June 2017
Seal Contract Discovery and Analytics Provides Efficiency Gains, Improves Accuracy and Scalability of Contract Reviews in M&A Processes
Today Seal Software, the leading provider of contract discovery & analytics, is pleased to announce that the ROOM, the leading provider of transaction and data room services, contract review and legal services, is using Seal Contract Discovery and Analytics to improve contract review services for its clients. Using Seal’s innovative solution, the ROOM will further extend its capabilities, providing a more efficient, faster and more accurate contract review service to its clients.
Merger and Acquisition (M&A) transactions require large volumes of contracts to be reviewed within a relatively short time as part of the due diligence process. The ROOM has been providing M&A transaction services for more than 20 years. “Since we started with Seal, we have invested in developing our own IP in Seal to support our business including working on specific Extraction Policies and Seal’s capabilities to work with the Dutch language. We are now in a position where our team of senior lawyers and process specialists, together with Seal Software, can help our clients review contracts, identify key issues in both Dutch and English Language contracts with greater accuracy and in less time than using purely manual process. We are thus able to make far more efficient use of resources. Seal Contract Discovery and Analytics enables us to automatically and very quickly extract the key data we need from thousands of contracts, faster and cheaper than ever before,” says Jeroen Kruithof, founder and CCO, the ROOM. “We evaluated around 12 of the top contract focused solutions on the market today, and Seal was by far the most effective.” Seal Contract Discovery and Analytics uses advanced Artificial Intelligence (AI) and Machine Learning (ML) to teach the solution the client’s contractual language and can differentiate between standard and non-standard clauses, critical when undertaking due diligence.
“the ROOM is the latest in a number of professional services firms who are realising that utilising advanced technology such as AI & ML helps them to differentiate from their competitors and provide a better, more cost-effective service to their clients.” says Toby Hannon, VP EMEA at Seal Software. “Far from being a threat to the industry, this technology is set to free legal professionals from repetitive, menial tasks and allow their skills to be deployed on higher value activities.”
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.
About the ROOM
the ROOM is the leading provider of transaction- and data room services, contract review and legal services. With 20 years’ experience in data room services and already performing standard legal tasks (commoditized legal work) for the last 10 years, the ROOM can be seen as one of the pioneers in Legal Process Outsourcing. The combination of smart (Legal Tech) software and senior lawyers ensures that we can quickly capture, enrich, classify and analyse unstructured data. The output we generate consists of Red Flag Reports which shows you the key issues in your data. Abovementioned makes your due diligence process faster, more accurate and more (cost) efficient. the ROOM, for less risk, more control and maximum value.
For more information, visit the ROOM at www.theroom.nl or contact us via Jeroen@theroom.nl.