UnitedLex and Seal Software Partner to Transform the Contract Negotiation Process with Near-Term $250M Impact
NEW YORK–(BUSINESS WIRE)–UnitedLex, the pioneer of the enterprise legal services model driving transformation throughout the entire legal ecosystem, today announced a master collaboration agreement with Seal Software to deliver a contract negotiation solution leveraging Seal’s industry-leading artificial intelligence (AI) platform.
Seal’s AI platform will integrate with UnitedLex’s end-to-end contracts lifecycle services to instantly compare third-party contracts and language against a client’s contracting standards to determine what further actions are necessary. Analysis of third-party forms is one of the most complex and time-consuming aspects of the contracting process. This solution significantly accelerates the deal negotiation cycle and reduces related support costs. UnitedLex is forecasting that its clients will achieve more than $250 million in accelerated revenue in 2019 due to more-rapid contracting cycle times.
“After evaluating several AI platforms within our UnitedLex Technology Incubation Lab, we determined that Seal’s leading-edge software solution best meets our clients’ demands and closely aligns with our vision to redefine the legal services delivery model,” UnitedLex CEO Dan Reed said. “Seal’s continued investment in its platform has paid off with significantly enhanced capabilities, and we are confident that Seal’s aggressive roadmap will continue to deliver innovation and value to our corporate clients.”
With this new AI platform, UnitedLex clients will be better-equipped to manage the risks and exposure associated with pending and existing contracts, while saving time and money by expediting the negotiation or re-negotiation process.
“UnitedLex has proven to be a true market disrupter, redefining the possibilities and expectations for what it means to be a global leader in legal services,” Seal CEO Ulf Zetterberg said. “As an AI company focused on enterprise clients, we could not have a better partner to collaborate on the development and delivery of a contract negotiation solution. With its best-in-class approach to technology, disruptive service delivery models, scalable human capital, and financial strength, UnitedLex will continue to change the landscape for legal services, and we look forward to playing a fundamental role in this transformation as a core technology partner.”
UnitedLex (unitedlex.com) is an award-winning enterprise legal services provider that drives transformation throughout the entire legal ecosystem. UnitedLex was founded in 2006 with a singular mission to improve the performance of leading corporations, law firms, and academic institutions. Since then, more than 2,700 attorneys, engineers, and consultants across four continents have deployed innovative service models and digitally powered solutions that deliver unparalleled business impact resulting in risk mitigation, efficiency improvements, and cost optimization for clients around the world.
About Seal Software
Seal Software (seal-software.com) is the leading provider of contract discovery, data extraction, and analytics. With Seal’s machine learning and natural language processing technologies, companies can find contracts of any file type across their networks, quickly understand what risks or opportunities are hidden in their contracts, and place them in a centralized repository. Headquartered in San Francisco and with operations globally, Seal empowers enterprises around the world to maximize revenue opportunities, reduce costs, and mitigate risks associated with contractual documents, systems, and processes.
Cortney R. Nathanson
Vice President, Global Marketing
This article published with permission from Business Wire