“Legal professionals are obviously very highly trained people,” she says. “But the reality is, they are spending a huge portion of their time reviewing [contracts]. It can take up to an hour for someone to review a non-disclosure agreement. There can be hundreds of these documents [in a firm] every day.”
Now, Luminance is preparing to launch a fully automated contract negotiation tool called Luminance Autopilot. The company plans to start beta testing with selected customers in the next month, with a wider roll-out in the new year.