Automatic Review of Incoming Contracts

ProSapient uses Luminance to perform automatic first-pass reviews of incoming contracts, providing color-coded risk analysis that categorizes clauses as acceptable, non-standard, or risky based on internal standards. The system suggests alternative wording drawn from internal precedent, which can be inserted directly into Microsoft Word. The AI learns from the General Counsel’s expertise, enabling junior counsel to access critical legal knowledge and maintain adherence to internal and external standards. Automating standardized contract reviews, such as NDAs and MSAs, has reduced bottlenecks and accelerated time to signature.

According to an internal assessment, Luminance’s drafting tool lowers the time and cost of training new legal team members on negotiating contracts and significantly reduces the burden on senior lawyers.

Granular Insight into Executed Contracts

Contracts stored in Luminance’s repository provide visibility into key information across the contractual landscape, including clauses, document types, currencies, governing laws, and anomalies. This enables ProSapient to surface new revenue opportunities by identifying upcoming contract expiry dates and alerting Sales to renewal prospects; to collaborate across functions, with Finance receiving automatic notifications of new clients to access payment and reporting terms; and to accelerate time to new revenue, using search and filtering capabilities to categorize contracts by deal value and focus on high-impact agreements.

Automating the Routine at Every Stage

Previously, workflow allocation and contract flow management consumed significant resources, with a paralegal handling administrative tasks that carried a substantial risk of human error. Luminance’s Workflow Editor now automates the routing of incoming contracts to the appropriate team members, eliminating manual allocation processes.

Per an internal ROI assessment, Luminance offers the ability to automate the daily administrative tasks faced by many legal teams and typically carried out by paralegals.

By automating routine work across the contract lifecycle, ProSapient has saved the equivalent cost of hiring a new paralegal (£27-35k annually), recovering 20% of daily time from day one.