UnitedLex,
the pioneer of the enterprise legal services model driving
transformation throughout the entire legal ecosystem, today announced a
master collaboration agreement with Seal Software to deliver a contract
negotiation solution leveraging Seal’s industry-leading artificial
intelligence (AI) platform.
Seal’s AI platform will integrate with UnitedLex’s end-to-end contracts
lifecycle services to instantly compare third-party contracts and
language against a client’s contracting standards to determine what
further actions are necessary. Analysis of third-party forms is one of
the most complex and time-consuming aspects of the contracting process.
This solution significantly accelerates the deal negotiation cycle and
reduces related support costs. UnitedLex is forecasting that its clients
will achieve more than $250 million in accelerated revenue in 2019 due
to more-rapid contracting cycle times.
“After evaluating several AI platforms within our UnitedLex Technology
Incubation Lab, we determined that Seal’s leading-edge software solution
best meets our clients’ demands and closely aligns with our vision to
redefine the legal services delivery model,” UnitedLex CEO Dan Reed
said. “Seal’s continued investment in its platform has paid off with
significantly enhanced capabilities, and we are confident that Seal’s
aggressive roadmap will continue to deliver innovation and value to our
corporate clients.”
With this new AI platform, UnitedLex clients will be better-equipped to
manage the risks and exposure associated with pending and existing
contracts, while saving time and money by expediting the negotiation or
re-negotiation process.
“UnitedLex has proven to be a true market disrupter, redefining the
possibilities and expectations for what it means to be a global leader
in legal services,” Seal CEO Ulf Zetterberg said. “As an AI company
focused on enterprise clients, we could not have a better partner to
collaborate on the development and delivery of a contract negotiation
solution. With its best-in-class approach to technology, disruptive
service delivery models, scalable human capital, and financial strength,
UnitedLex will continue to change the landscape for legal services, and
we look forward to playing a fundamental role in this transformation as
a core technology partner.”
About UnitedLex
UnitedLex (unitedlex.com)
is an award-winning enterprise legal services provider that drives
transformation throughout the entire legal ecosystem. UnitedLex was
founded in 2006 with a singular mission to improve the performance of
leading corporations, law firms, and academic institutions. Since then,
more than 2,700 attorneys, engineers, and consultants across four
continents have deployed innovative service models and digitally powered
solutions that deliver unparalleled business impact resulting in risk
mitigation, efficiency improvements, and cost optimization for clients
around the world.
About Seal Software
Seal Software (seal-software.com)
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.
Headquartered in San Francisco and with operations globally, Seal
empowers enterprises around the world to maximize revenue opportunities,
reduce costs, and mitigate risks associated with contractual documents,
systems, and processes.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190516005970/en/