San Francisco, CA – July 9 2013 – Seal Software, a provider of solutions to discover, capture, extract and manage contracts, today announced a new partnership with Novatus Contract Management, industry leaders in contract lifecycle management. The partnership will enable Novatus to enhance the solutions they provide their clients via their new Novatus DNA tool by ensuring that full contract visibility is attained by utilizing the unique Contract Discovery capabilities of Seal Software.
“Novatus DNA is a remarkable tool for our clients and significantly increases the flexibility and breadth of our CLM solution,” said Jeffrey Bosworth, senior vice president of sales and marketing with Novatus. “With it, you can ‘Discover’ existing contractual documents stored on your network in any file type (doc, PDF, jpg); ‘Navigate’ the document for key metadata; and ‘Analyze’ for essential, relevant info. All in one.”
Organizations recognize the need to better manage buy and sell side contract and supply chain management. The use of technology solutions to address challenges such as obligation management, renewals, pricing and other key milestones has long been at the center of the Novatus offering. A critical factor in the effectiveness and adoption of such solutions has long been the challenge of populating such systems with the current contract corpus, including contractual documents and metadata. Traditional methods of manual contract abstraction are slow, costly and cannot be repeated without further delay and cost.
Seal Contract Discovery and Analytics is the only automated Contract Discovery solution that identifies which documents are contractual, extracting an extendible core set of key contract metadata, as well as creating fully text searchable versions of contract image files. The contract documents, fully searchable PDFs and metadata can then easily be uploaded to Novatus Contract Management, more quickly and more cost effectively than has been previously possible. Furthermore, the process can be repeated at any time to extract additional metadata, process acquired business entities, additional departments etc.
“Novatus has years of experience in providing their customers with innovative contract and supplier management solutions. This partnership will help Novatus ensure that their customers have all of their contracts under control, with full contract metadata visibility, helping customers to better manage risk and cost,” said Dan Daehler, VP Global Services & Channels, Seal Software.
Further information on Seal Contract Discovery and Analytics can be found at: www.seal-software.com/solutions
Seal Software and Novatus will host a free joint webinar entitled, “Uncovering the DNA of Contracts: Discover, Navigate, Analyze” on August 1 2013 at 2pm eastern (11am pacific). The webinar will be hosted by Ryan Tohill, Director of Strategic Partnerships for Novatus, and Dan Daehler, VP Global Services & Channels for Seal. Register now.
About Seal Software
Seal Software has created a new market segment, Contract Discovery and Analytics, with its unique Seal cDiscovery solution.
Seal cDiscovery addresses compelling pain points within all enterprises: how to find contracts, extract clauses, render them for easy review, and populate corporate repositories – CRM, CLM, ERP, SRM – with contract data.
Seal cDiscovery is installed in minutes and, without expensive configuration, automatically discovers existing contractual documents from a wide range of document and image file types. It also automatically extracts key clause metadata and provides an easy format for further review, as well as a platform for on-going management of contracts, with a fully searchable repository and obligation management tools. Critically, it allows easy migration of contracts and metadata to the full range of enterprise platforms.
Seal has the vision to make Seal cDiscovery the cVault for every enterprise – a central repository representing the ‘single source of the truth’ for contracts, used to process in-bound contracts, audit the enterprise for rogue contracts, and provide a single search, reporting and migration tool for regulatory, transactional and strategic purposes, accessed by every major enterprise process for which contracts are important.
Seal helps organizations in verticals such as legal services, financial services, oil and gas, high-tech, pharmaceutical, media, manufacturing, transportation, and telecommunications achieve control of their contracts and obligations for compliance, cost saving and competitive advantage.
For further information, visit the Seal Software website: www.seal-software.com
Novatus was founded in 2008 by well-respected and globally recognized contract and supply chain industry leaders and pioneers in the contract lifecycle management (CLM) industry. The Novatus team is passionate about providing results-oriented contract, compliance and supplier management web-based software solutions and unrivalled customer support resulting in measurable, positive business results for their clients. Novatus has a compelling and scalable business solution for companies of every size and today being used by thousands of Global 1000 users to manage diverse purchase, sales and partner agreements. For more information, visit www.novatuscontracts.com or call 877.745.3070. Follow us on Twitter, Facebook , Google+ and LinkedIn.