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.
Maddocks Innovation Partner Lindy Richardson said the adoption of the Kira platform was in line with the firm’s innovation strategy of finding ways to create value for both Maddocks and our clients.
‘Our innovation strategy encourages our people to work with our clients to find ways to continue to raise the bar on the level of service we provide, and our partnership with Kira is another a great example of this’, Lindy said.
Kira Systems CEO and Co-Founder Noah Waisberg said the company was thrilled to partner with a law firm committed to a culture of innovation.
“Maddocks is clearly dedicated to delivering its clients world-class service through innovative methods, and we are pleased that it has adopted Kira to support this mission.”
To find out more about our approach to innovation, head to the Innovation at Maddocks page on our website.
Maddocks is a proudly independent Australian law firm that works closely with corporations, businesses and governments throughout Australia and internationally. We advise national and international clients across the education, government, healthcare, infrastructure and technology sectors, from our Canberra, Melbourne and Sydney offices. Our specialist expertise includes dispute resolution and litigation, employment and safety, financial services, franchising and insolvency.