Seal Software, the leader in Contract Analytics and Discovery today announced that the ROOM, the leading provider of transaction and data room services, contract review and legal services, is using Seal Contract Discovery and Analytics to improve contract review services for its clients.
Using Seal’s innovative solution, the ROOM will further extend its capabilities, providing a more efficient, faster and more accurate contract review service to its clients.
Merger and Acquisition (M&A) transactions require large volumes of contracts to be reviewed within a relatively short time as part of the due diligence process. The ROOM has been providing M&A transaction services for more than 20 years. “Since we started with Seal, we have invested in developing our own IP in Seal to support our business, including working on specific Extraction Policies and Seal’s capabilities to work with the Dutch language. We are now in a position where our team of senior lawyers and process specialists, together with Seal Software, can help our clients review contracts, identify key issues in both Dutch and English Language contracts with greater accuracy and in less time than using purely manual process. We are thus able to make far more efficient use of resources. Seal Contract Discovery and Analytics enables us to automatically and very quickly extract the key data we need from thousands of contracts, faster and cheaper than ever before,” says Jeroen Kruithof, founder and CCO, the ROOM. “We evaluated around 12 of the top contract focused solutions on the market today, and Seal was by far the most effective.”
Seal Contract Discovery and Analytics uses advanced Artificial Intelligence (AI) and Machine Learning (ML) to teach the solution the client’s contractual language and can differentiate between standard and non-standard clauses, critical when undertaking due diligence.
“the ROOM is the latest in a number of professional services firms who are realising that utilising advanced technology such as AI & ML helps them to differentiate from their competitors and provide a better, more cost-effective service to their clients,” says Toby Hannon, VP EMEA at Seal Software. “Far from being a threat to the industry, this technology is set to free legal professionals from repetitive, tedious tasks and allow their skills to be deployed on higher value activities.”
Copyright © 2016 Legal IT Professionals. All Rights Reserved.