San Francisco, June 21, 2022 – Pramata, the leading contract management solution provider, announced today that Foster Sayers, attorney and entrepreneur, has joined the company as general counsel and chief evangelist. “Foster knows the pressures facing today’s chief legal officers and how they’re tasked with being more strategic, delivering value beyond legal affairs and growing the bottom-line,” said Praful Saklani, Pramata co-founder and CEO.
“As a Pramata client and daily user, Foster saw first-hand how our solution makes it easy for teams to access their agreements, manage obligations and mitigate risks. He’s the perfect person to educate leaders on how this technology benefits not just the legal team – but the entire business.” Previously, Sayers was corporate counsel for Vertafore, where he led the transformation of the contract lifecycle.
Using Pramata’s contract management solution, he automated Vertafore’s processes for organizing, storing and digitizing executed agreements, as well as extracting key terms. These changes were instrumental in Vertafore boosting its valuation from $2.7 billion in June 2016 to $5.35 billion in September 2020, when the company was sold.
Sayers was also co-founder, CEO and general counsel for 121Nexus, a company with QR code technology solutions that he co-invented for the pharmaceutical and biomedical industries.
Earlier in his career, Sayers held in-house counsel positions at Vertex Rail Corporation, a manufacturing company; KD Secure, a developer and provider of internet protocol for video solutions; and, Mainline Information Systems, an IT solutions and managed services provider. “Too many companies have contract management solutions with mandated workflows or functionality that the business doesn’t need or end up adopting.
Pramata is focused on making contract management easier and delivering the most value as quickly as possible,” said Sayers. “I’m passionate about helping businesses succeed and ready to show my peers how Pramata makes it possible for all teams, whether legal, sales, finance, or procurement, to drive business value in just a few clicks.”
Pramata provides a simple and cost-effective way for companies big and small to manage their contracts. The company’s solution pairs domain experts with AI technology to deliver a data accuracy level of more than 99 percent.
Pramata makes contract management effortless for B2B companies. With the first contract repository as a service (RaaS), businesses can easily and accurately manage contracts opportunities and obligations, while mitigating risks. Pramata digitizes and maintains contracts and provides one-click access to precise data so teams can act with confidence. For more information, visit: www.www.pramata.com, LinkedIn, Twitter.
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