July 11, 2018
Fenwick is continually improving its use of legal technologies to deliver more value to its clients. As part of that initiative, the firm deployed Kira, a legal-industry AI platform, to help make its corporate M&A services even more efficient and effective. Fenwick now has data from its Kira deployment demonstrating the significant time and cost savings the program provides.
Contract Review: Greater Accuracy and Predictable Budgets, Lower Cost
Kira helps Fenwick complete contract review work faster and even more accurately. With Kira, high-level issue spotting can be done quickly at the outset of a deal, giving clients earlier visibility into potential diligence issues, facilitating Fenwick attorneys to perform a deeper analysis and shape the transaction terms as needed. Improved efficiency and flexibility translates into more predictable budgeting for clients and enables Fenwick to deliver greater value for cost-effective contract review.
A survey of Kira’s impact revealed that the tool enables Fenwick’s M&A licensing team to cut document review time by half on average.
Knowledge Management Enhancements
Fenwick has also brought Kira’s efficiency and flexibility to its internal processes. The firm’s research, knowledge and innovation teams are using Kira to conduct document review that supports many of Fenwick’s internal and external market survey publications. Fenwick staff have trained Kira to search for specific provisions within a document, resulting in efficiency gains and greater output quality. Using Kira, Fenwick has saved hundreds of hours for lawyers and staff that were previously spent producing survey publications.
“Kira is making a clear difference in the way we deliver services to our clients,” said Fenwick technology transactions partner Ralph Pais. “Our decision to bring Kira on board, along with CARA—a litigation-focused AI tool— is part of our ongoing commitment to innovation and client service.”
More information about Fenwick’s use of AI programs, and the firm’s innovative approach to client service, which includes people, processes and technologies implemented to drive efficiencies and value, can be found by visiting our service innovation page.