Luminance integrates with virtual data room provider, Admincontrol, to drive further efficiencies in due diligence   


23-06-2021
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 Luminance has announced that it is enhancing its award-winning technology by synchronising with Admincontrol, a leading provider in digital collaboration and secure document sharing.

The integration with Admincontrol comes at a time when many of Luminance’s customers are continuing to work at least partly from home due to the Covid-19 pandemic. Currently deployed by over 85,000 users worldwide, Admincontrol helps teams to rapidly and securely upload and share business-critical documents, such as those required for M&A due diligence reviews. As well as saving reviewers from the laborious task of manually transferring vast datasets between the two platforms, Luminance’s automatic synchronisation with Admincontrol will ensure that there is no risk of documents being lost in transit during the upload stage. This is all the more pertinent as many legal teams continue to work remotely from one another and documents can more easily be missed.

Further, by allowing legal teams to automatically transfer their documents from Admincontrol into Luminance, all documents can then be analysed by Luminance’s pioneering solution, which combines supervised and unsupervised machine learning algorithms to read and form an understanding of legal data. As a result, lawyers are able to quickly identify key information and potentially critical risks, allowing them to start their review in the most logical and efficient way possible. Using Luminance, lawyers consistently achieve time savings of 50% on day one of a review, increasing with continuing use.

Møyfrid Øygard, Managing Director at Admincontrol, said, We are delighted to have launched this integration- by allowing lawyers to rapidly and securely upload vast datasets, we hope to ensure that dealmakers can save even more time, minimise risk and increase the scope of their contract reviews.”

Luminance’s CEO, Eleanor Weaver, comments: With the majority of our customers continuing to work remotely either full-time or part-time, Luminance’s synchronisation with Admincontrol is ensuring that our customers are able to conduct the most seamless and streamlined review from any location, from the point of document upload right through to the analysis.”

Launched in 2016, Luminance’s cutting-edge technology solution is now used by over 300 leading law firms and organisations, including Bird & Bird, Holland & Knight, Slaughter & May as well as all of the ‘Big Four’ accounting firms.

About Luminance

Luminance is the leading artificial intelligence platform for the legal profession, with over 300 customers in more than 50 countries. Luminance’s machine learning technology reads and forms an understanding of documents, helping lawyers to perform the most thorough and rapid document reviews across practice areas including due diligence, contract negotiation, regulatory compliance reviews, property portfolio analysis and eDiscovery. Luminance has offices in London, Cambridge, New York and Singapore.

About Admincontrol

Admincontrol, a leading provider of Board Portals and Virtual Data Rooms in the Nordics, offers a smart and secure collaboration platform for due diligence and other business-critical process.

Founded in Norway in 2005, Admincontrol has since established local offices across the Nordic region and in selected markets in Europe such as the UK. More than 4000 companies and 100 000 users enjoy the benefits of Admincontrol’s platform today.

Since 2017, Admincontrol has been a part of the successful Visma Group.

 

Luminance is the leading artificial intelligence platform for the legal profession. The fundamental technology behind Luminance is the Legal Inference Transformation Engine (LITE), built from a blend of unsupervised and supervised machine learning and pattern recognition techniques developed at the University of Cambridge. Luminance has over 300 customers across the world, including one-fifth of the global 100 law firms all of the Big Four Accountancy firms.

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