Relativity Contract is a powerful tool designed to optimize contract review/analysis, extraction, and management processes for legal professionals. By harnessing advanced artificial intelligence (AI) and machine learning (ML) technologies, this application empowers users to automate tasks, extract key information from contracts, and gain valuable insights for informed decision-making through the entire contract life cycle.
One significant advantage of Relativity Contract is its integration within the Relativity ecosystem. As contracts are already hosted within Relativity, this tool streamlines the processes if the same client later becomes the subject of litigation or investigation. Users gain the pole position in handling production requests and effectively managing reviews, including simultaneous reviews related to different matters.
Relativity Contract also integrates with external systems relevant to contract management processes through Custom Connectors. With custom connectors, users can seamlessly import and export data from external systems or establish a real-time connection for synchronization and data updates. Some of the external systems include Salesforce or Microsoft Dynamics and other Customer Relationship Management (CRM) systems. Document Management systems, such as SharePoint or Dropbox, can also be connected.
Use Cases of Relativity Contract for Clients:
- Regulatory Compliance: For clients in highly regulated industries, particularly regarding data privacy compliance, this is a great tool. It allows compliance officers to manage and monitor contractual obligations related to data privacy regulations, such as the GDPR (General Data Protection Regulation). By quickly identifying contracts containing specific language or provisions pertaining to data privacy compliance, the application facilitates privacy impact assessments and ensures adherence to regulatory requirements. The tool makes discussion of necessary actions and compliance remediation steps collaborative and seamless. Automated workflows and reminders track key dates and contract renewals, addressing potential compliance gaps proactively.
- Insurance: After a natural or man-created disaster, insurance companies face a surge of property insurance claims. Relativity Contract can assist in efficiently organizing and analyzing the relevant insurance contract associated with each claim. The tool enables quick searching and retrieval of specific policies based on policyholder information, property addresses, or policy provisions. It expedites claim resolution by identifying clauses and provisions, facilitating communication, and improving efficiency during the claim handling process.
- Mergers & Acquisitions: Relativity Contract proves instrumental in managing the complexities of mergers and acquisitions. With numerous contracts involved, ranging from supplier agreements to customer contracts and employment agreements, the tool establishes a centralized and automated contract management process. It extracts and organizes key metadata, expediting due diligence by allowing quick search and retrieval of specific contracts based on various criteria. Machine learning algorithms identify crucial clauses and provisions, aiding the review and analysis of risks and obligations tied to the M&A deal.
Relativity Contract holds potential beyond these scenarios. For debt collections and credit card companies, it aids in identifying relevant provisions, ensuring compliance, tracking important dates, and maintaining an audit trail of communications and actions during the debt collection process. The application’s document management capabilities enable effective organization and tracking, facilitating comprehensive views of collection efforts.
If you would like to see a demo of Relativity Contract, please feel free to reach out to me at Robin.LeDonne@AcornLS.com. I am also happy to discuss how this technology may work for your case, or exchange thoughts on what other technology in the market may fit.
Robin averages 16 years of eDiscovery experience and is a licensed attorney in the state of California. She plays a key role in the planning and implementation of eDiscovery projects, consulting with clients, and providing direction and support to Acorn’s operations. In 2003, Robin began her career in civil litigation, most notably representing victims of sexual abuse. Dealing with vast amount of paper discovery, during a time when many firms were transitioning to become paper free, she was interested in how data itself would be organized in the future. Soon thereafter, in 2008, Robin transitioned to the eDiscovery industry, starting first as a document reviewer, then as a project manager.
Acorn is a legal data consulting firm that specializes in AI and Advanced Analytics for litigation applications, while providing rigorous customer service to the eDiscovery industry. Acorn primarily works with large regional, midsize national and boutique litigation firms. Acorn provides a high-touch, customized litigation support services with a heavy emphasis on seamless communications. For more information, please visit www.acornls.com.