The move follows similar deals Kira Systems has done with ALSPs such as Axiom and Elevate, and underlines the realisation by process-focused legal service providers that AI is something that has to be integrated into their offering.
LPO Integreon has over 2,400 staff, with delivery centres on four continents, and is one of the largest such LPO businesses in the market. In which case, the Kira deal is doubly significant and perhaps marks a watershed moment for the LPO industry globally. How long before all other LPOs similarly adopt AI services is now likely just a matter of time rather than a matter of ‘if’, while several others, such as New Galexy, have already started down this road.
Integreon CEO Bob Rowe, said: ‘Incorporating Kira’s cutting-edge machine learning into our legal services offerings allows us to deliver more efficient due diligence reviews, contract reviews, migrations and analyses. Our partnership speaks to how we help organisations realize greater efficiency and profitability than what they can achieve on their own.’
In a statement the company said that Integreon had developed a ‘deep understanding of how Kira’s machine-learning technology can be integrated into its existing services’, including contract lifecycle management platform migration, post-merger integration and regulatory review.
Kira Systems CEO and co-founder Noah Waisberg, added: ‘I have long been impressed with Integreon’s contract review expertise, as shown through the company’s pioneering contract management work with Microsoft. We are proud they have chosen to incorporate Kira into their ongoing services to clients and look forward to working together.’
‘Our new and improved AI-enabled contract review services help our clients save, on average, 45% of review time, when compared to a purely manual approach, without sacrificing any accuracy,’ concluded Mark Ross, Integreon’s global head of contracts, compliance and commercial services.