Floada FAQ
Who is behind Floada?
We’re a team of product developers and AI researchers from Gothenburg, Sweden. Since 2010, we've built contract intelligence solutions for Fortune 500 companies, starting with Seal Software, which DocuSign acquired in 2020 and rebranded as ‘DocuSign Insight’. We later contributed to DocuSign AI's foundational teams.
In 2024, we created Floada to address a market gap with high-impact, practical use cases, avoiding the complexity and unmet promises of traditional enterprise contract intelligence solutions.
We also have presence in Berlin, Germany and, San Francisco, US.
Why choose Floada if I already have a CLM?
Many enterprise customers find CLM systems overly complex, with limited data extractions and outdated ML technology. Floada isn't a CLM. It enhances your existing systems with customizable and accurate insights, enriching your data with a modern and efficient approach.
Who does Floada integrate with?
Floada integrates seamlessly with common systems in procurement and legal ecosystems, such as Microsoft and SAP. Its pluggable integration layer allows quick connections to new sources, supported by a robust API for most operations.
What does it mean for me that Floada is GenAI-native?
Unlike many enterprise contract intelligence tools that rely on outdated ML and treat LLMs as an afterthought, adding them only for basic chat or summarization features, Floada is built from the ground up to fully harness the power of LLMs at its core.
This ensures much more precise document extraction and enables customizations 90% faster than traditional solutions.
Can I use Floada without a CLM?
Yes, Floada operates independently of a CLM. It is designed as a standalone solution with its own infrastructure and intuitive UX.
What is the level of effort required for implementation?
Floada requires minimal effort to get started. Basic use cases are ready with near-zero implementation time, thanks to instant self-service customization powered by GenAI. For specific integrations, timelines are typically measured in days or weeks, not months.
How are AI Agents used and why?
Contracts often trigger repetitive tasks across multiple system integrations. These tasks, which rely on explicit contract data as input, are typically managed manually or with inflexible tools/code.
Floada’s agents streamline this by automating business processes through natural language instructions and seamless integration, reducing repetitive manual effort and complexity.
Can Floada read scanned documents?
Yes, Floada uses OCR (Optical Character Recognition) to process documents when needed. This technology converts printed or handwritten text from scanned documents, PDFs, or images into editable and searchable digital text.
Are you tied to a specific LLM?
No, we’re LLM agnostic. We leverage leading LLMs from OpenAI, Google, and Anthropic, as well as open-source models, to ensure flexibility and optimal performance tailored to each customer's needs.
How many documents can Floada process?
Floada is built for scalability, automatically scaling horizontally to handle any volume of data. It can theoretically process unlimited number of documents, with initial deployments capable of managing millions of contracts seamlessly.
Is it reliable and scalable enough for a large enterprise to depend on?
Absolutely. Floada is built to deliver enterprise-grade reliability, observability, and cloud-agnostic deployment for both SaaS and on-prem environments, with outstanding customer success process from day one. Finally, Floada prioritizes security and data privacy above all else.
Who is Floada best suited for, and who might it not be ideal for (yet)?
Floada is ideal for organizations dealing with scattered contracts, limited visibility, and manual processes tied to contract data. It streamlines workflows with advanced automation and ensures metadata synchronization across systems like CLMs, ERPs, and other key platforms.
However, it may not yet be the best fit for businesses seeking a full-scale CLM solution.