PostSig's Platform Ends Post-Signature Contract Chaos for Business Leaders and Operations Teams in Capital Markets and Beyond, Saving Costs and Reducing Risk
SAN FRANCISCO, CA / ACCESSWIRE / May 2, 2024 / PostSig, Inc. (PostSig) today launched a groundbreaking platform to revolutionize post-signature contract management workflows in contract-intensive industries like capital markets, banking, and law, among others. Harnessing the power of AI, the platform automates crucial processes, maintains up-to-date contract information, turns dormant contracts into objective business assets, and replaces the fragmented workflows that rely on emails, spreadsheets, and chat communications.
In a market where $39 billion is spent annually on data governed by complex contracts, PostSig tackles a critical, often-overlooked need. While the pre-signature phase involves extensive negotiation, the real value extraction and obligation management begin after the ink dries. PostSig's AI technology transforms the post-signature experience by:
- Saving time, money, and resources
- Automating data extraction
- Identifying and interpreting key information
- Providing real-time insights and recommendations
The platform empowers users to navigate intricate contracts, understand obligations, pinpoint opportunities, mitigate risks, and make strategic decisions based on their contract data. Additionally, PostSig improves compliance and reduces legal exposure through proactive insight generation.
PostSig's development is fueled by a diverse group of industry leaders, such as Robert Jeanbart, former CEO of SIX Financial Information; Chris Petrescu, CEO of CP Capital and former Head of Data Strategy at ExodusPoint Capital Management; David Ron, former CFO of Krux Digital, a cloud-based data management platform acquired by Salesforce and Truvalue Labs, Inc., acquired by Factset Research Systems; and Dr. Peter Stegmaier, former CMO at Hexagon Mining, serial entrepreneur, and board member; among other luminary investors. The company is supported by Michael Pestana, Partner of Wilson Sonsini Goodrich & Rosati. Their deep understanding of data markets and contract management underscores the platform's potential.
Many established pre-signature contract management solutions exist in the market, but post-contract management has been an afterthought until recently. As the number of subscription contracts that organizations purchase has dramatically risen, the workload of managing the renewal dates, critical legal clauses, and usage rights, particularly with data contracts, has grown exponentially. The risks and associated costs of mistakes are high and grow exponentially as businesses manage hundreds and sometimes thousands of contracts concurrently.
The PostSig founding team understands that AI, automation, and user-centric design can solve many of the inefficiencies around managing signed contracts.
"Established pre-signature solutions exist, but the post-signature phase needs innovation," says Hendrik Bartel, CEO of PostSig. "The exponential growth of subscriptions and complex data contracts creates a massive management burden, often maintained through inefficient, scattered systems. PostSig's AI, automation, and user-centric design solve this."
"PostSig solves a problem that capital markets industry players have been struggling with for years. It could save many types of companies millions by avoiding missing critical contract dates and automating the tedious aspects of procurement workflows," added Chris Petrescu, CEO and Founder of CP Capital, a consultancy for hedge fund procurement.
PostSig reduces post-signature procurement workload by eliminating manual post-signature contract processes, increasing efficiency, and reducing compliance risk. PostSig's plug-and-play implementation takes only minutes to upload contracts and instantly see actionable contract insights.
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About PostSig, Inc.
Founded by a team with a proven track record of building successful data companies, PostSig, Inc., revolutionizes post-signature contract management with its AI-powered platform. Designed for procurement, finance, legal, risk, and compliance teams, PostSig automates workflows, extracts critical data, and provides real-time insights. The platform eliminates time-consuming manual processes, reduces risk, and transforms contracts from passive documents into strategic business assets. Learn more at www.postsig.com.
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Anne Acosta
Marketing
PostSig, Inc.
info@postsig.com
SOURCE: PostSig
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