Conga, a provider of an Intelligent Document Automation platform, has agreed to acquire Counselytics.
Founded in 2013 by CEO Jason Gabbard, Counselytics is a contract discovery and analytics company that uses proprietary artificial intelligence technology to extract data, bringing efficiency to contract management, due diligence and lease abstraction. Its customers come from a number of industries such as real estate, financial services, insurance and procurement.
The purchase will broaden Conga’s offerings by allowing customers to instantly convert unstructured contract data to actionable intelligence. It identifies and classifies structured data elements within the unstructured data of contracts to create a faster and more accurate contract review process.
“With Counselytics, we are bringing on top proven experts in artificial intelligence, with 25 years of collective experience in document analytics,” said Conga CEO Matthew Schiltz. “Counselytics’ solution furthers our work to deeply instrument the contract process. This will accelerate our customers’ contract lifecycle management adoption and maturation.”
Conga provides a suite of enterprise-grade Intelligent Document Automation solutions to help businesses optimise their CRM investments. The Conga Suite, which includes Conga Composer, Conga Contracts, Conga ActionGrid, and Conga Sign, claims to simplify and automate data, documents, contracts, signing, and reporting.
Conga Contracts claims to streamline the complete contract management lifecycle with a robust repository, granular security controls, flexible routing and approvals, and automated reporting. While Conga Sign claims to simplify the document execution process with a redefined eSignature solution built for Salesforce, by Salesforce users.
The company is privately-held and based in Colorado, with global operations in the UK and Australia, and is used by more than 650,000 users in 85 countries across all industries. In the financial services space, Conga is by used Finemark Bank & Trust to speed up its documents and increase face time with clients.
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