New software applies machine learning to contract reviews

When contracts need to be reviewed, renewed or revised, the process tends to be labor intensive and time consuming. Contract delivery and analytics specialist Seal Software is launching version 5.0 of its contract analysis software, which uses machine learning to speed up the process. It also includes a new add-in which allows contract data extraction and review capabilities to be used within Microsoft Word. Analyze This Now (ATN) pulls existing contracts directly into Word, converting all documents — including PDF and TIFF images — into MS Word format. From there, business users can review text, update terms, change metrics, and create new versions all within their familiar Word interface. With ATN, the Seal platform is running in the background, analyzing the text and showing users the status of clauses and provisions…

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