Australia: Maddocks signs on for contract review and analysis platform
Maddocks will be using Kira Systems’ AI-driven platform in matters involving contract review and analysis.
The firm has agreed to partner with Kira Systems after finding significant benefits during two major trials.
Maddocks Head of Knowledge Vicki McNamara said the trials, by the firm’s Commercial and Property teams, delivered excellent results when it came to speed and accuracy.
‘Using Kira, an experienced lawyer can review around 15 documents an hour, with estimated time savings of 20 to 40 percent. This is significantly faster than a physical "page turn and tag" review,’ Vicki said.
‘The platform also includes inbuilt data analysis accessible throughout the review, with data captured and extracted within Kira and then exported in Word, Excel or PDF format, automating the first cut of reporting.’
Vicki said that Kira was also useful for the management and coordination of teams working flexibly, as it allowed for the remote allocation and supervision of review tasks and improved transparency around review progress. This has been particularly useful during the firm’s COVID-19 response and will continue to benefit both the firm and clients post-pandemic.
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