21 February 2023 | Luminance, the world’s most advanced AI for legal process automation, today announced that leading analytics solutions provider, Mobileum, has adopted its award-winning technology to supercharge the organisation’s contracting processes.
The Silicon Valley-headquartered organisation, which has global offices across Europe and Asia, was in need of a next-generation technology to assist its in-house legal team in the negotiation and review of high-volume contracts. Having previously relied on a legacy document management system to search and analyse their contract database, Mobileum chose Luminance due to its ability to provide instant insight into the status and workflow of contracts currently under negotiation, as well as an AI-powered index of all executed agreements.
With Luminance in their legal toolkit, Mobileum will now benefit from the first AI in the world capable of automatically taking a first pass review of incoming contracts out-of-the-box. Luminance’s revolutionary Traffic Light Analysis visually indicates where terms differ from previously agreed wording, helping legal teams to ensure compliance with both internal standards and external regulations.
Mobileum will utilise Luminance’s intelligent contract repository to achieve granular insight into their expansive document landscape and better understand areas of business opportunity. For instance, Luminance’s AI will automatically flag key periods such as commencement dates, breaks and expiration, ensuring that Mobileum can maximise revenue capture.
Nitesh Ranjan, General Counsel at Mobileum, commented: “Luminance’s AI will be a critical technology for our legal team. As a global organisation, our legal team is responsible for processing vast volumes of documents, which makes it essential that we integrate the most innovative technology into our contracting processes. Adopting Luminance’s AI drives efficiencies across the entire contract lifecycle process, from drafting to negotiation and review.”
William Atkins, Chief Financial Officer at Mobileum, added: “We are delighted to be working with Luminance to further the development and integration of Mobileum’s systems and processes.”
Eleanor Lightbody, CEO of Luminance, said, “We are thrilled that yet another leading technology business has chosen Luminance’s AI to supercharge their legal team. AI is crucial for in-house legal teams looking to thrive against a backdrop of data overload and rising efficiency pressures. With Luminance, Mobileum’s legal team will be better prepared to tackle these challenges.”
Luminance is the world’s most advanced AI technology for the legal processing of contracts and documents. Founded by mathematicians from the University of Cambridge, Luminance’s AI reads and forms a conceptual understanding of documents in any language. Luminance uses this understanding to augment the spectrum of legal matters, from AI-powered contract drafting, negotiation and review to investigations and eDiscovery. Luminance is trusted by over 500 customers in 60 countries, including all of the Big Four consultancy firms, a quarter of the world’s largest law firms and multinational organisations.
Mobileum is a leading provider of telecom analytics for roaming, security and risk management and end-to-end domestic and roaming testing solutions. More than +900 operators rely on its Active Intelligence platform to increase roaming revenues, to improve network security, to minimize risk and to ensure active testing and monitoring. With a strong record of innovation, Mobileum is recognized for its ability to extract network and customer insights and to convert them into real-time actions that increase revenue, improve customer experience and reduce costs.
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