21 March 2023 | Reunert, one of South Africa’s largest industrial groups, has announced its adoption of Luminance’s AI to enhance contract and knowledge management across its subsidiaries.

With over 20 subsidiaries operating across three segments, managing the contracting process has proven complex for Reunert’s in-house legal team. Reunert needed a next-generation technology that could both streamline the review of high-volume, routine contracts, as well as provide AI-powered assistance with complex, bespoke contracts. Reunert’s legal team needs to centralise and manage a great volume of essential legal and enterprise knowledge across the organisation. By using Luminance’s AI-powered repository, Reunert’s legal team can now rapidly locate, review, and compare multiple contracts, whether under negotiation or already executed.

Luminance’s Workflow Editor automatically routes contracts, based on their properties, to the appropriate people and/or divisions in the Group. Reunert maintains compliance with Luminance’s ability to learn new concepts on-the-fly via point-and-click training, ensuring adaptability in an ever-changing regulatory landscape.

Reunert is also using Luminance’s highly customisable contract generation functionality: as an organisation with multiple subsidiaries, Reunert needs a technology capable of automatically building out contract templates dependent on the segment and jurisdiction. With all contract templates centralised within Luminance, Reunert’s legal team can minimise version control risk and ensure that internal standards are adhered to.

Hendrik van Rensburg, Group Legal Counsel at Reunert commented: “In such a large organisation, mitigating risk across different teams and jurisdictions can be a complex undertaking. Luminance’s AI will be transformational for our legal team, providing a complete overview of our contractual landscape and helping us to maintain internal compliance.”

Eleanor Lightbody, CEO of Luminance added: “Luminance's AI can streamline contract management processes for organisations of all sizes, centralising institutional knowledge and ensuring cross-company compliance. This is essential for businesses operating in today’s challenging market conditions, so I am excited to see the value that Luminance will deliver for Reunert’s legal team.”

ENDS

About Luminance

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.

About Reunert

The Reunert Group was founded in 1888 and its shares are listed on the Johannesburg Stock Exchange since 1948. It is a constituent of the FTSE/JSE responsible Investment Index. Reunert owns and manages a portfolio of businesses in its Applied Electronics, Electrical Engineering, and ICT segments.

For further details, see www.reunert.com