Legal AI company ThoughtRiver has announced an integration with data visualisation system Tableau to boost contract risk analysis for its clients across their whole document stack. Salesforce bought Tableau in August and has integrated it into its ever-growing platform.
At the time of the M&A deal the two US-based companies said: ‘Tableau will make Salesforce Customer 360 stronger than ever, and together with Einstein, will enable Salesforce to offer a complete AI-powered analytics platform for everyone.’
Einstein is Saleforce’s own AI solution, which can help with CRM lead analysis and appears to have some NLP capabilities around customer sentiment analysis.
Artificial Lawyer asked ThoughtRiver CEO and founder, Tim Pullan, why the UK-based AI company had done this integration with Tableau.
‘Tableau allows clients to easily visualise the risk profile across their entire contract portfolio and then drill into certain areas, or risk themes, right down to the individual contract and then to the individual clause.’
‘The problem that many clients have now is that they do not understand how many contracts they have signed, what is the risk within them, and how that risk is shared across the themes (confidentiality, liability, termination, etc). Our clients also use Tableau to look at how a risk position has changed across a negotiation and can then use that to show the value they have delivered. We think of this as true contract intelligence,’ Pullan said.
The company added that by combining their pre-screening software with this new data analytics capability, ThoughtRiver will be able to also examine legacy contracts for business risk insight.
‘This reflects the evolution of ThoughtRiver from being a focused point solution towards an extensible and comprehensive contract review platform to meet several use cases,’ they added.
The firm has also hired Richard Cobb as vice-president of Sales, as part of the company’s continuing international growth. It also has seen 100% headcount growth over the last 12 months, the AI company said.
What the Salesforce acquisition of Tableau delivers
In a company statement, Salesforce explained what it will be doing with Tableau and how it will work for clients.
‘Combination to Supercharge Customers’ Digital Transformations
With Tableau, Salesforce will be positioned to play a greater role in driving digital transformation, enabling companies around the world to tap into data across their entire business and surface deeper insights to make smarter decisions, drive intelligent, connected customer experiences and accelerate innovation.
Tableau Brings Self-Service Analytics for Everyone to Salesforce Customer 360
With Customer 360, Salesforce already provides organizations with a complete, intelligent view of their customers across every touchpoint. Salesforce pioneered AI for CRM with Salesforce Einstein, and today delivers AI-powered analytics for sales, service, marketing, commerce and more. Tableau pioneered self-service analytics with an intuitive analytics platform that empowers people of any skill level to work with data for any use case.
Tableau will make Salesforce Customer 360 stronger than ever, and together with Einstein, will enable Salesforce to offer a complete AI-powered analytics platform for everyone.
Tableau to Scale and Further Its Mission as Part of Salesforce
As part of Salesforce, Tableau will be positioned to accelerate and extend its mission to help people see and understand data. Tableau will operate independently under the Tableau brand, driving forward a continued focus on its mission, customers and community. Tableau will continue to be led by CEO Adam Selipsky and the current leadership team.