Luminance Diligence uses next-generation AI to enhance and expedite a vast range of contract review projects, from M&A due diligence and lease reviews, to ensuring compliance with data protection regulations, contract consolidation exercises and repapering.
Luminance Diligence uses next-generation AI to enhance and expedite a vast range of contract review projects, from M&A due diligence and lease reviews, to ensuring compliance with data protection regulations, contract consolidation exercises and repapering.
Luminance’s AI works out-of-the-box to identify over 1000 different concepts within executed contracts, as well as flagging anomalies that lawyers might not have otherwise been aware existed. Luminance helps lawyers to maintain compliance with advanced in-built clause and document comparison technology, and can also be used for redaction, reporting and contract remediation. 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 works across the even the largest volume of contracts, giving lawyers confidence that nothing has been missed and placing them on the front-foot in negotiations.
Luminance works out-of-the-box, reading and forming a conceptual understanding of contracts and visually representing insights across a range of interactive widgets including document types, clauses, anomalies, currencies, languages and regions.
Luminance’s unsupervised machine learning automatically identifies anomalies present in your data room and categorises them by severity, type and number, allowing lawyers to effectively prioritise their review.
Luminance’s Automatic Document and Clause Compliance allows lawyers to choose the parameters of their review, selecting their desired standard versions (or ‘model’ variations) of clauses or documents to compare other contracts, against with red-lining and green-lining showing compliance and deviations from the ‘model’ version.
Luminance can be taught new examples of concepts via a simple point-and-click process as part of the normal review workflow, allowing for bespoke tags for projects, clients or business areas. This machine learning means Luminance can stay current as new regulations come into effect, meaning that there is no need for downtime to perform costly maintenance.
Luminance brings the power of AI to Microsoft Word. With one click from within Luminance, lawyers see the relevant document in Word, with Luminance’s AI analysis of the document available in a sidebar. Luminance also integrates with VDRs including Box, Dropbox, HighQ, Intralinks, Ansarada and Sterling for the fast and easy transfer of documents.
Luminance’s built-in workflow tools ensure no duplication of valuable work effort such as automatic task distribution, notes and batch document allocation. Project managers can oversee review progress and view real-time information, including tasks assigned, task size and progress.
Save Time, Reduce Cost and Focus Resource
Troutman Pepper estimated they were able to complete a review of over 12,000 contracts three times faster in Luminance compared to traditional approaches, reducing costs for their client by 90%.
World-Class Security
Luminance’s Infrastructure and Operational practices are certified as compliant with ISO 27001, whilst operations are overseen by an Advisory Board of leading figures within the security space.
Use Time-Savings For Resource-Intensive Projects or Additional Work
Use AI-generated time-savings to complete projects that might have otherwise been too resource-intensive and thus would have been outsourced or not even contemplated. During Bird & Bird’s review of 200,000 employment documents, they increased the speed of their review from 79 documents per hour to 3,600 per hour with Luminance.
Maintain A Competitive Advantage
Luminance enables lawyers to gain quick and thorough insight into their contracts, surfacing buried deal killers or critical findings at a far earlier stage of the review. Appraised of all information early on, Luminance helps lawyers to optimise negotiating positions, planning strategy carefully with the maximum time and knowledge advantage.
Companies like Luminance are instrumental in transforming the day to-day lives of lawyers and are a key component in future-proofing the industry.
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.
If Luminance wasn’t available, we probably would have just agreed with the client not to do the review at all - it would have been cost-prohibitive.
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.
By allowing lawyers to instantly edit and correct any discrepancies found by Luminance, this Work in Word tool will expedite the process of document review and risks will be minimised. This function will prove invaluable for legal teams in their everyday work.
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