The Latest from Luminance

9 May 2024 | Ella Hislop

With new features and updates coming in thick and fast, Luminance recently hosted a Customer Webinar, offering a live demonstration of the latest and greatest developments in our AI! In case you missed it, here’s a recap of some of the highlights…

Auto Mark-Up

Auto Mark-Up is the latest addition to Luminance’s suite of AI-powered negotiation functionality, enabling users to bring any contract into line with their business’s gold standards and preferred positions in just one click. This is all within Microsoft Word, with changes tracked in real time, so users can instantly review and approve all modifications; the contract is ready to return to the counterparty in seconds! Not only does this new level of automation for routine contracts translate into further time- and cost-savings, it also guarantees the best possible negotiating position every time…

Ask Lumi in the Repository

Ask Lumi, Luminance’s ‘legal-grade’ chatbot is now available within the repository, providing legally accurate answers to any contract query in seconds. Users can select a question from a pre-populated list of common contract queries, such as ‘How many contracts expire in the next month?’, or simply ask their own natural language question. Ask Lumi will analyse the contract database, deliver an answer in moments, and allow you to navigate to any relevant documents with just one click. Luminance’s repository delivers unparalleled insight into any document landscape, and this new feature takes it one step further.

Collaborative Workflows

Luminance’s easy-to-use Workflow Editor helps teams to manage legal workflows, ensuring the efficient and compliant flow of contracts around an organisation. New, Collaborative Workflows further streamline approval processes by enabling simultaneous reviews, with individual notifications and direct links, so all collaborators can stay informed and access the relevant content for them with ease. Once the reviews have been completed by the relevant approvers, the contract will automatically be returned to the contract owner, displaying any rejected language together with recommended amendments which can be inserted in a single click.

As you can see from this whistle-stop tour, there are so many exciting updates to Luminance’s cutting-edge technology, with even more to come. If you’d like to learn more about how your organisation can benefit from what Luminance has to offer, schedule a demo today!