Why Contract Analytics Matter in Procurement

We’re delighted to announce that Seal Software, a Docusign Company, was recognized by Spend Matters as one of the “50 Procurement Providers to Know for 2020”. Spend Matters is the leading research firm focused on the procurement line of business, and each year, they identify the 50 vendors they feel are raising the bar for procurement technologies and services.

Seal Software was on the first list in 2014 and has remained on it every year since due in large part to their dedication to helping enterprise procurement professionals, from contract managers to chief procurement officers to the legal staff who support the function. Now Docusign Analyzer and Docusign Insight help procurement professionals:

  • Derive insight into the obligations, risks and opportunities tied up in their vendor agreements and other buy-side contracts
  • Improve efficacy and efficiency by identifying revenue leakage, addressing regulatory requirements like GDPR and surfacing insight into core topics that procurement professionals care about, such as payment terms, auto-renewals and indemnifications

According to Nick Heinzmann, associate analyst, Spend Matters and one of the authors of the list,  “While AI and contract analytics have become ‘hot’ topics in the legal tech and contract management markets, Seal has demonstrated a consistent commitment to delivering relevant innovations since its founding over a decade ago. Beyond the obvious technical strengths that have made Seal a ‘Provider to Know’ year after year, we’re even more impressed with the provider’s vision for “democratizing” contract analytics. By making deep agreement insights and risk identification accessible to all users who touch contracts regardless of the source system or tools they rely on (e.g., Microsoft ® Word), Seal is extending the true value of its solutions across the enterprise —- a philosophy sure to gel with the provider’s new home at Docusign.”

Docusign 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 Docusign Agreement Cloud can serve as an inflection point for transformative changes across all buy-side and sell-side contract processes.

Learn more about how Docusign can help procurement teams by reading Smart Solutions for Agile Procurement.