Axiom has launched a contracts intelligence platform in an effort to speed up its contract review process.
The contracts intelligence platform is to be used during buy- or sell-side due diligence or during post-merger integration.
The technology completes contract reviews by using artificial intelligence to collect and identify relevant clauses. Legal professionals ensure data accuracy and interpret it in to measurable data fields.
According to Axiom, the contracts intelligence platform provides users with a transparent view of their contract data, using a business intelligence dashboard housed on a secure web portal.
Visualisations are built around common risk areas and detailed analysis can be shared with key stakeholders to inform of critical decisions.
Conor Miller, senior vice president of merger and acquisition due diligence and integration services at Axiom, commented: “Axiom’s contracts intelligence platform provides actionable insights that can help both buyers and sellers make corporate transactions more valuable to their shareholders, informing valuation and enabling companies to identify risks and synergies earlier and more accurately.”
He added: “Companies have started to truly view digestible, comprehensive contract analysis as a competitive advantage, especially for serial transactors, and a key element in orchestrating a successful deal.”
Andrew Shaw, assistant general counsel and commercial lead at inVentiv Health Research, said: “The Axiom contracts intelligence platform, helped our team analyse and compare provisions across the two entities faster and at a lower cost than the status quo alternative.”
