Lander & Rogers was instructed by a national financial institution, to undertake an intensive contract review project. The client had a number of complex contracts and needed a report summarising all clauses, identifying common clauses and displaying how the agreements and common clauses differed from one another. They also needed to identify the most onerous clauses, and clauses that might cause red flags to be raised or require active management.
Some of the contracts were long and complex; manually comparing clauses across the full document set would be very time-consuming. Our lawyers would need to read through each contract to identify the relevant clauses and then copy these clauses from Adobe into Excel for manual comparison and analysis. They would then be limited to working in spreadsheets, rather than within the context of the actual documents. Our team sought to find a smarter and more efficient way to undertake the clause analysis and reporting requirements.
To significantly reduce the time and expertise needed for this contract review project, Lander & Rogers implemented an automated contract review AI solution using an AI technology platform commonly used by the firm in e-discovery exercises.
First, the contracts were imported into our AI-guided review platform. Our lawyers were then able to analyse, tag and extract relevant clauses. The artificial intelligence contract analysis platform assisted with grouping similar clauses, which it then categorised, allowing for quick and easy side-by-side comparison and review. Finally, the relevant clauses were summarised, collated and exported into an interactive PDF that our client's internal business teams could easily navigate and action.
Through the use of AI technology, Lander & Rogers was able to transform a time-consuming and laborious review process into a smart, streamlined and automated contract review project that saved time and resources both internally and for our client.
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