HOUSTON (February 2019) – ThoughtTrace, the leading provider in AI/ML for contract analytics and document intelligence, has much more growth on the horizon after a strong 2018. Last year, the company grew its customer base by 4X. As part of the response to this growth, ThoughtTrace has moved its corporate headquarters from The Woodlands to a new office in the Phoenix Tower of Greenway Plaza.
“Companies are increasingly focused on embracing ‘leap-ahead’ technologies to create efficiencies and new opportunities,” said Nick Vandivere, CEO ThoughtTrace. “We have seen this first hand and are taking every measure to support and exceed the expectations of our growing customer base.”
Today’s Need and Tomorrow’s Growth
This includes bringing on more team members to help guide customers as they transform their process for managing large volumes of complex, unstructured information, often found in contracts and other documents. A larger team needs a larger space, and the new headquarters in the Phoenix Tower was built to accommodate today’s need and tomorrow’s growth. The decision to open a new office went beyond creating a great space for staff; a primary driver was the team’s continual dedication to customer success and education and enablement. The new office was designed to accommodate training courses, focus groups, meetings & events, and more. ThoughtTrace’s software development and data science teams will remain in The Woodlands.
Building Contract Intelligence
ThoughtTrace launched the first domain-specific, AI/ML-powered document intelligence and contract analytics platform in 2017. Organizations in many industries have traditionally lacked domain-specific solutions for contract and document intelligence, leaving them with only a cursory understanding of some of their data. Leveraging AI/ML as a complement to human expertise, ThoughtTrace reads, organizes and structures data, allowing users to quickly identify actionable insights, and make better decisions.
Today, ThoughtTrace’s customer base spans the industry across Oil & Gas, from Upstream to Midstream, Mineral Buyers, and A&D Professionals. Looking ahead, ThoughtTrace is actively expanding ALI’s domain knowledge to support the Supply Chain, Renewables, Real Estate, and Utilities industries, helping each customer save time, reduce risk, and seize opportunities in 2019.
In 2017, ThoughtTrace launched the first industry-specific Document Intelligence and Contract Analytics platform that provides value on day one with minimal training and setup. Leveraging AI/ML as a complement to human expertise, the ThoughtTrace platform identifies critical obligations in contracts exponentially faster and with greater accuracy than traditional methods. ThoughtTrace reads, organizes, and surfaces data that gives users operational agility, actionable insights, and decision-making superpowers.