About ThoughtTrace

ThoughtTrace is a cloud-based document management suite that uses artificial intelligence and machine learning algorithms to classify, review, analyze text across contracts and agreements. The application configures domain-specific AI models based on previously processed documents, allowing businesses to gain insights into use cases, language formations and document types.

It offers an enterprise search functionality, which lets professionals in legal, real estate, power and other industries automatically discover relationships, facts, values, dependencies and risks across the data. ThoughtTrace provides a contract analytics module, which allows users to upload single or multiple documents, extract data using OCR functionality, create abstracts, and conduct ana...


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2 Reviews of ThoughtTrace

Overall rating

5 / 5 stars

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April 2020

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Brooke from Acacia Exploration Partners, LLC

Verified Reviewer

Company Size: 11-50 employees

Industry: Oil & Energy

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

April 2020

Complete lifesaver. Oil & gas land departments should NEVER be without this product from now on.

I have saved easily over $20,000 (really probably WAY more than that if I had paid a broker in the field to do these projects) in less than 2 months of starting our subscription.

Pros

Our industry is going through a VERY difficult time right now - we are required to do "more with less" daily & sometimes to a degree that is absolutely IMPOSSIBLE without exposing our companies to significant business risk through tasks/reviews we just can't get to because we don't have enough full time employees & we also can't spend the $ on outside contract help for projects due to severe budget restraints. ThoughtTrace gives me the ability to manage all my leases & contracts at a largely efficient & much more effective level. I literally do not know how any oil & gas company thinks they are managing their leases & contracts efficiently without having ThoughtTrace as a required tool. This is going to change the face of the Land business. This is a tool that you pivot with the times & get on board & learn it/use it/buy it or you will be left behind in the slow/expensive/archaic dust of the way we used to do things.

Cons

I'd like more recurring & regular trainings - whether virtual, in person, group discussions, etc.

Reasons for Choosing ThoughtTrace

Because I could not even decipher what Grooper can even do for my department based on a not so great virtual sales demonstration. And ThoughtTrace had me sold & 150% believer within the first 15 minutes of their in-person sales demonstration in my office. Their sales people are great, but ThoughtTrace absolutely sells itself. They are in no way seeking to replace people. ThoughtTrace increases efficiencies and speed of projects.

April 2018

Keilah from Callon Petroleum

Time Used: Less than 6 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

April 2018

This program makes my job less tedious, exponentially more efficient and more accurate with ease.

Pros

The ease of running the queries to get the information needed. The customer service from Agile is astonishing. The accuracy of the reports.

Cons

I've been using this system for three weeks and don't have a complaint yet. The system is easy to learn, the system is great and with Agile's customer service and quick response to retrain ALI with any hiccups we have, ALI is the perfect pair for my job.