Seal Software Again Named on Spend Matters “50 Providers to Know” in Procurement

Global News

18
May
2018

Editor

Seal Software, the leader in contract discovery and analytics, has been named by Spend Matters for the fifth successive year on its annual list for 2018 of the “50 Providers to Know” in procurement. This list identifies companies and organizations that raise the bar for procurement technologies and services, and drive change in the way enterprises do business.

After months of intense debate, discussion and refinement among all of the Spend Matters analysts, the selection of Seal Software represents an unbiased, independent view of the providers that set the industry standard.

Spend Matters is the leading procurement analyst firm in the world, with its Spend Matters Network providing the largest and most influential voice in the procurement and spend management sectors. Routinely evaluating the latest procurement technology and service offerings, Spend Matters is uniquely positioned to help procurement organizations with their vendor selection processes.

"When we first began our coverage of Seal Software six years ago, we said that ‘Seal has changed the game for contract discovery’. Since then, Seal has been the clear market leader for machine learning based extraction and analysis of contract clause intelligence yielded from text -based contracts” said Pierre Mitchell, Chief Research Officer at Spend Matters. “We see this same technology being similarly relevant to other big data scenarios, but for now, if you need contract analytics to make sense of your contract repository or your counter-party's paper, Seal is the clear pace setter in the market to consider."

Seal’s contract discovery and analytics software is used by Global 2000 companies to gain actionable insight into their contracts. Using advanced techniques in artificial intelligence and machine learning, the Seal platform can serve as an inflection point for transformative changes across all buy-side and sell-side contract processes. 

Recently Seal has successfully invested in creating a centralized procurement platform that adds invaluable insights from spend & vendor data. By comparing the “should be” baselines from the contracts against the actual performances from spend data systems, Seal can identify and quantify gaps, risks, exposures, obligations, and even hidden revenue opportunities. Organizations can now have a single system where they can gain 360-degree view of all their categories, vendors, spend, and contracts in a highly intuitive and accessible platform that meaningfully ties together the most critical procurement assets.

“Procurement has remained one of the key applications of Seal ever since Spend Matters began covering us,” said Ulf Zetterberg, co-founder and CEO of Seal Software. “Since then we have continued to innovate in this area and the success of our enterprise-analytics solution for procurement teams is testament to that. It is an honor to once again make the Spend Matters list, which we see as an instantiation of the value Seal brings to Global 2000 firms and their procurement teams.”