Global News
Seal Software, the leader in contract discovery and analytics today announced that PwC has selected Seal’s award-winning software to dramatically reduce time-to-value for their client’s contract needs.
With increasing pressure due to regulations, compliance and the growing need to manage business better, many companies turn to PwC for contract review and remediation services. PwC has engaged with Seal for a number of contract-heavy use cases where key terms from unstructured contract data are needed, including IFRS 16, Brexit, GDPR and Loan Portfolio review.
The Seal technology enables PwC to dramatically reduce the time from starting a client engagement to having actionable data extracted from contracts to begin their review, remediation and consultancy activities.
Seal’s advanced technology, which incorporates Artificial Intelligence and Natural Language Processing, performs an automated discovery of contractual documents and brings them into a centralized repository. Seal then indexes and extracts all key metadata from those contracts, providing a fully searchable, cleansed contract portfolio. Seal contract analytics (SCA) enables the development and fine tuning of custom term extractions, ensuring that their clients can take advantage of PwC’s considerable experience in these areas making it reusable for subsequent engagements.
Umang Paw, PwC Partner in London said, "We are delighted to be working with Seal Software and to add their capability to the portfolio of technology that we tailor for our client's specific business needs. We have been using the software for over a year and are seeing real client benefits across a number of different use cases."
“We are proud to be part of PwC’s service offerings to their clients,” said Ulf Zetterberg, CEO Seal Software. “We also couldn’t be more delighted to have a client of such stature and experience embracing the Seal technology, and helping us build out powerful use cases for our clients.”
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