South African law firm, Webber Wentzel, has adopted Luminance\u2019s artificial intelligence technology to enhance its due diligence processes for M&A transactions.<\/p>\n
The Luminance platform has built-in collaboration tools which will enable\u00a0Webber Wentzel’s lawyers to quickly group and assign documents, track live progress, and significantly reduce the amount of time spent organising workflow.<\/p>\n
\u201cWebber Wentzel has been using a number of innovative technology solutions to continuously improve efficiencies and add value when we deliver our legal services to our clients. Machine learning technology is the next step in our journey, focusing on enhancing the management and review of increasingly large volumes of documents,” said project manager, Celia Pienaar.<\/p>\n
“Luminance\u2019s advanced machine learning streamlines due diligence and similar high volume processes. Its unique Visualise dashboard provides an immediate, holistic understanding of the data room content. We\u2019re excited to deploy Luminance across the firm and work with our clients to further enhance the top-tier service they have come to expect of our brand.”<\/p>\n
Luminance uses advanced machine learning techniques from the University of Cambridge to automatically sort, cluster and classify a data room, pinpointing even subtle differences between contracts so that hidden risks can be uncovered early on in a transaction.<\/p>\n
The company launched in September 2016 and has over 70 customers across 18 countries.<\/p>\n