When IDEXX Laboratories needed to review its entire contract database quickly to see which agreements had connections to sanctioned countries and entities, it turned to the AI-powered automation platform Luminance.
IDEXX, a multinational corporation in the pet healthcare space, undertook this contract review work last year following Russia’s invasion of Ukraine.
By using Luminance, a project that typically would have taken weeks if done manually only took 20 minutes, according to officials from IDEXX and the tech platform.
“When the documents were uploaded, Luminance immediately presented on a map any regional reference to Russia,” said Jaeger Glucina, Luminance’s chief of staff. “They were able to quickly filter down to all of those contracts and then do a quick search across them, so they understood their exposure super quickly.”
Glucina told Legal Dive the IDEXX Laboratories use case was one example of the different ways companies, including several high-profile ones, are employing Luminance to speed up high-volume contracting work and reduce costs in the process.
The company is competing against many other platforms offering contract management services at a time when legal departments are increasingly embracing AI-powered technology.
According to a press release issued in January, Luminance’s product for in-house legal teams, Luminance Corporate, saw a tenfold increase in adoption last year.
Koch Industries, one of the largest private companies in the U.S., is among the new customers Luminance has announced.
Koch’s in-house legal team is using Luminance’s AI to automate the repeatable tasks and administration involved with generating contracts, including NDAs, master service agreements and IT-related agreements.
This usage of Luminance has extended to members of business units outside of Koch’s legal department who can access contract templates in the platform and input details specific to each contract.
Luminance then generates a contract without the legal team needing to get involved, Glucina said, and the contract flows into the platform’s AI-powered repository once it’s executed.
“Our non-legal functions can now utilize Luminance as a self-service way to generate new agreements quickly, while still ensuring compliance with internal legal standards,” said Laura Pickle, CIO & Discovery director for Koch's legal team, in a statement.
This usage of Luminance frees up Koch’s in-house legal team “to focus on higher-value work that drives business growth,” Pickle added.
Deloitte and BT
All four of the Big Four accounting firms are also Luminance customers, according to Glucina, and they are examples of how alternative legal services providers (ALSPs) are using the AI-powered platform to assist their clients.
For example, Deloitte used Luminance on a contract standardization project in which it was working with the telecom giant BT.
BT’s in-house legal team needed Deloitte to analyze and standardize 4,500 documents across 14 European entities in a period of two weeks.
The use of Luminance’s AI helped determine which contracts required remediation by the in-house legal team and which did not. Overall, Deloitte estimates, there was a 50% time savings compared to a manual review.
“With AI they were able to meet the deadline for the client, and the review was just as thorough, if not more thorough, than it would have been in the four weeks taken by human beings,” Glucina said.