HOUSTON, TX, JUNE 18, 2019 – ThoughtTrace, the leader in AI-powered document intelligence and contract analytics, held their inaugural user conference, REALIZE 2019, on May 20-21 at the Woodlands Resort.
100 leaders in the oil and gas industry convened at the Woodlands Resort and Conference Center to discuss challenges in an increasingly complex climate, and how innovation and technology are playing a role in building a larger competitive strategy.
Realizing Contract Intelligence
Many of the answers organizations need to make confident decisions and stay competitive are living in the company’s contracts and documents, however contract intelligence is a struggle for many businesses. Continuous visibility into contractual risks and opportunities is a huge advantage, but previously difficult to realize.
Powered by Artificial Intelligence and Machine Learning (AI/ML), ThoughtTrace automatically categorizes, reads and extracts critical information and insights from contracts and documents. Suddenly, companies can understand their business holistically, and make better decisions by applying AI to find fast and accurate information to help guide their decisions. There was a feeling of excitement at REALIZE as product experts and customers alike discussed the potential impact domain-specific, contract intelligence can have on their lives and businesses.
“AI is just a tool, not unlike a database, email, or post-it notes, and it is built to serve a purpose. for us, that purpose is empowering people and companies to greater insight and creativity through better access to their most challenging information,” said Nick Vandivere, ThoughtTrace CEO in the opening keynote address.
Throughout the day, conference attendees made valuable connections, learned applicable best practices from subject-matter-experts, and saw an exclusive look at the never-before-seen product roadmap from ThoughtTrace leadership. Presenters from Callon Petroleum, WPX, DCP Midstream, BPX, Devon Energy, and Venado Oil and Gas shared their experiences, what ThoughtTrace VP of Success, Kurt Kemmerly, says the conference is all about.
“Realize is designed to be an integral part of the forward-thinking community we are building together with our customers and partners. It’s about collaboration, making connections, and sharing experiences to help the industry progress,” said Kemmerly.
The insight shared among peers gave attendees valuable information to change the way they work.ThoughtTrace was also honored to present the 2019 Innovation Awards to customers who not only recognized and embraced the power that the ThoughtTrace platform brought to their organizations but also worked closely with ThoughtTrace and the user community to establish best practices and use cases with industry-wide significance.
Congratulations to the 2019 ThoughtTrace Innovation Award Winners:
- Gary Holmes, Land Administration Manager at Devon Energy
- Danny Falligant, Director of Land at BP
- Keilah Whitley, Land Analyst at Callon Petroleum
- Cesar Amicarella, Director of Digital Transformation at DCP Midstream
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.