14 July 2023 | A British aerospace and engineering solution provider has adopted Luminance’s AI to centralise their enterprise data and achieve granular insight into their contractual obligations.

The multinational organisation, with customers in over 100 countries, chose Luminance to centralise over 5,000 commercial and customer agreements that had previously been siloed across the business. Luminance’s AI-powered contract repository now provides instant insight into the company’s expansive document landscape. Indeed, through its powerful ‘legal-grade’ AI, Luminance forms a conceptual understanding of contracts, visually representing insights across a range of interactive widgets including document types, clauses, anomalies, currencies, languages and regions.

Furthermore, Luminance’s AI automatically recognises over 1,000 clauses and concepts out-of-the-box for quick filtering, with automatic anomaly detection showing missing or non-compliant clauses. The legal team is using Luminance’s simple point-and-click functionality to create bespoke tags for projects, clients or business areas to allow for seamless searching across their contractual landscape.

Eleanor Lightbody, CEO of Luminance noted “The continued adoption of Luminance by world-leading organisation of this size is clear validation of our technology and the importance of delivering specialist AI to in-house legal teams operating in specialist industries. Luminance’s award-winning AI ensures that in-house legal teams are armed with essential knowledge about their contractual obligations, allowing them to effectively support their global business activities.”

This latest signing comes as Luminance continues its path of rapid growth, reporting a 336% YOY increase in customers for its flagship product, Luminance Corporate, with signings including Koch Industries, Yokogawa, and Hitachi Vantara.

ENDS

About Luminance
Luminance is the Contract Intelligence platform that turns the language that defines a business into the intelligence it runs on. Born out of the University of Cambridge and purpose-built by AI, legal and technology experts, Luminance understands the history and context of every contract. It acts on that intelligence, proactively surfacing risk, flagging obligations, accelerating negotiations and driving action across Legal, Finance, Procurement, Sales and the wider business. It enables enterprises to learn from their contracts, while contracts learn from the enterprise, helping businesses make better decisions and move forward with confidence.