Luminance Corporate uses next-generation AI to enhance and expedite the entire contract lifecycle process and automate legal processes. With Luminance, organisations can see all of their contracts in one platform, showing both the status and workflow of contracts currently under negotiation as well as an AI-powered index of executed contracts.
Luminance Corporate uses next-generation AI to enhance and expedite the entire contract lifecycle process and automate legal processes. With Luminance, organisations can see all of their contracts in one platform, showing both the status and workflow of contracts currently under negotiation as well as an AI-powered index of executed contracts.
Fully integrated with Microsoft Word, Luminance is the first AI that can be used out-of-the-box to take a first-pass review of incoming contracts, with in-built knowledge banks suggesting compliant wording for areas that present risk. Easy-to-use Legal Process Automation tools ensure smooth, hierarchically-assigned contract flow. Trusted by over 400 customers, including a quarter of the world’s top 100 law firms and global organisations such as Tesco, Ferrero and all of the ‘Big Four’, Luminance helps lawyers and organisations to manage workflows, get rapid answers to urgent business questions and maintain compliance.
Luminance visually indicates where terms differ from previously agreed wording via a ‘traffic light’ system. Where terms do not meet internal standards, alternative acceptable wording suggestions are provided from internal precedent banks and industry benchmarks.
Luminance acts as a central interface for viewing all contracts, whether under negotiation or already agreed. Luminance’s AI reads the contracts, presenting this analysis visually, broken down across a number of interactive widgets. These can be used to quickly search and filter to important information within a few clicks.
Luminance integrates with Word via a plugin. Open your contracts in Word and Luminance’s machine learning analysis labels key information such as clauses, parties and other important data points, allowing users to navigate around contracts with ease.
Within Word, Luminance shows alternative wording from precedents; this can be substituted at the click of a button. Lawyers can provide rationale on-the-fly whilst negotiating contracts, which is captured within Luminance. Not only does this ensure knowledge is not siloed or lost during personnel changes, but junior counsel can follow this guidance and ensure better adherence to internal standards.
Luminance’s Paragraph Analysis technology allows the user to track the history of mark-ups and amendments to contracts, even if track changes weren’t switched on when the edits were made by the counterparty, giving confidence that nothing has been missed.
Luminance’s easy-to-use Worfklow Editor enables seamless rule creation and manages the efficient, compliant flow of contracts around an organisation. Rules can be created and customised via an intuitive drag-and-drop interface, with any number of conditions put in place to hierarchically assign workflow, by virtue of contract properties including content, governing law, type, language, etc.
AI is critical for any forward-thinking in-house counsel or legal operations team that wants to accelerate deal closure, make more informed decisions, and ensure compliance in a rapidly-changing regulatory landscape.
With Luminance, we no longer have to rely on external counsel for complex reviews but instead can keep the work in-house.
Luminance really hones in on what’s important in a contract, a process which would normally take a team of paralegals far, far longer to go through with a fine-tooth comb.
Luminance’s technology is empowering lawyers to provide a higher level of client service. Lawyers can now free up time to focus on more rewarding substantive work: this is innovation at its finest.
Where time is of the essence, lawyers using AI technology like Luminance can find what they need to find fast and then use this to their advantage in many negotiations.
Luminance enables lawyers to quickly and easily see what areas of a contracted need to be negotiated… Faster contracting means faster revenue generation.
Luminance’s technology provides lawyers with one of the most sophisticated in-house tools on the market. By allowing in-house legal teams to rapidly understand all aspects of their contracts, Luminance helps to reduce time, resource and money.
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