Here’s the press release in its entirety
Partnership enables the launch of an exciting new contract search product, allowing customers to save time and mitigate risk
London, UK – 26th April 2012 – Seal Software Group, a leading contract management provider, today announced the formation of a partnership with LexisNexis, a leading provider of content and technology solutions, to offer the Lexis Contract Finder service.
Many businesses are often not fully aware of their contractual obligations, and may not be benefiting from the most favourable contractual terms. The first step towards greater control is to achieve full visibility of all contracts. This is all too often an arduous task as departments and individuals often enter into binding agreements, while those ultimately responsible are unaware.
The Lexis Contract Finder service, powered by the automated search engine Seal Contract Discovery, makes it easy for organisations to quickly locate, categorise and manage all their contracts. Lexis Contract Finder searches nominated servers and systems to identify all contractual documents (including text, PDF, image and other file formats). Identified contracts are copied, tagged and filed enabling customers to track, filter or search with ease. LexisNexis provide additional services including scanning and digitisation of paper contracts, thus enabling legal teams to digitise and manage their entire contract universe. The Contract Finder service helps make managing contract risk more efficient for legal teams and their commercial colleagues.
Ulf Zetterberg, Founder and CEO, Seal Software Group said, “In LexisNexis we have a partner with expert understanding of the importance of accurate and up-to-date information, especially in the context of contractual obligations.
“Their customers will benefit from this additional, value-added service created by this partnership. We see the opportunity to work together as a perfect strategic fit for Seal and are delighted with the possibilities that this agreement opens up.”
LexisNexis Director of Strategy and New Business Development, Andy Sparkes, added, “Lexis Contract Finder is a fantastic addition to our suite of exciting products designed to help in-house lawyers operate more efficiently. I am delighted with how effectively it relieves administrative burden while reducing risk and exposure, thus providing a must-have solution to many of the contract lifecycle management issues faced by internal legal teams, general counsel and finance directors.”
About Seal Software Group
Seal Software Group provide solutions to discover, capture, extract, create and manage contracts. Seal’s unique combination of Contract Discovery (cDiscovery) and Contract Lifecycle Management (CLM), provide insight, lifecycle management and reporting for law firms, General Counsel, Legal Process Outsourcers (LPO) and eDiscovery vendors.
Seal’s Dolphin CLM for SharePoint, manages contracts in a secure repository, from creation to ongoing proactive management of contract performance.
Seal’s cDiscovery automatically discovers existing contractual documents, extracting key information from any file type. Applicable in M&A, spend and procurement and contract abstraction environments, Seal identifies and processes thousands of documents per day, reducing the time and cost of discovery, due diligence and contract abstraction.
For further information, visit the Seal Software Group website: www.seal-software.com
