Magic Circle member Clifford Chance, recently ranked as the 7th highest grossing law firm in the world, prides itself on leading legal innovation to provide client service excellence. The firm launched a continuous improvement project to make processes more efficient. In particular, the document production process allowed room for errors that require a lot of rework, and the amount of revisions led to corrupt and even lost documents.
Clifford Chance turned to Litera for its Contract Companion solution. Leveraging a subset of Artificial Intelligence, Contract Companion is a proofreading software that allows users to review defined terms, cross-references, and citations in documents in less time and with lower risk, right from within Microsoft Word.
With Contract Companion, lawyers identify and review document errors faster, saving at least one hour a week. Furthermore, Contract Companion assesses the “legal health” of a document, which reduces liabilities for the firm’s clients by finding contract language errors.
"The latest statistics we have show that fee earners are saving around an hour every week, solely in proofreading time. When you multiply that by the number of people who are still working with hourly rates, it’s quite a significant number… and it isn’t just an internal saving. It has an impact on the turnaround time for sending these documents to clients."