Docugrid
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Docugrid, is a semantic search platform that uses deep learning, NLP and artificial intelligence to enable companies to take their unstructured documents such as contracts, and other business documents, and convert them into useable data that can be used for first and third party purposes. Docugrid was created in 2022 as a SaaS tech start-up based in Redwood City, California. The company was founded by former executives of Cisco, Voicea, and Wrappup. The founding team was also part of the BlueKai executive team, which was acquired by Oracle on February 24, 2014.
The company focuses on delivery of document analytics and allows inspection of the documents by forming queries in natural language. Some additional techniques used are generative question creation which enables the document to be more easily summarized. By automating the capture of data from contracts, businesses can reduce errors and ensure that data is consistently accurate across all contract management software. This can help businesses make better decisions, and improve the visibility of contract data. Contract automation can also facilitate cross-functional collaboration and communication. By automating the sharing of contract data and documents, businesses can improve communication and collaboration between different departments and teams. This can help businesses save time and money, and improve the quality of contract management. By automating the enforcement of compliance standards, businesses can reduce the risk of non-compliance. This can help businesses save time and money, and improve the quality of contract management. Finally, businesses can reduce the need for manual review and approval of contracts.
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