1489313 - Hogan Lovells FIS Horizons 2021 update - Flipbook - Page 40
Hogan Lovells
40
Legal tech
On this page we have summarized some of the key technology tools which we are using
to improve the way we deliver legal services and collaborate with our clients. We would
be happy to discuss further the way any of these might be used by you.
Collaborate
Contract generation - DraftXpress
We have long used custom-built extranets as
a repository for project documentation and
information. Collaborate is the next step forward
in this area, an innovative platform that combines
the traditional functions of a data room with an
online interface that enables live collaboration
between the in-house and Hogan Lovells
teams and makes it easier to capture and
share knowledge as projects develop.
Our document automation service, DraftXpress,
helps to automate the repetitive elements of
transactional documents, allowing the in-house
and Hogan Lovells legal teams to focus on
bespoke drafting. By answering a simple online
questionnaire, you can quickly and easily generate
a first draft. This significantly reduces drafting
time, creates a consistent approach to document
drafting across teams and jurisdictions, enables
suites of documents to be automated and provides
quality assurance.
Due diligence and contractual
analysis - Kira
Kira is a contract review tool that, when trained,
identifies and extracts legal concepts from
contracts to speed up and make more efficient
due diligence and document review exercises.
Information is extracted into a searchable format
that links back to the original document and
enables the review to identify documents that
contain relevant clauses that may require more
in-depth review without the need to read through
all the documents.
We have also partnered with FTI Consulting to
combine our talents in legal analysis with their
expertise in mining information from large
volumes of contracts and other data sources.
Our collaboration produces sophisticated results
while facing tight deadlines and cost constraints.
Litigation outcomes
We are also employing cutting edge tools to conduct
research and assess potential outcomes in litigation,
including Ravel Law, Lex Machina and Prism.
Prism is our Early Case Assessment (ECA) service,
which provides early in-depth analysis of a dispute
for a fixed fee within 30 days. Using online
software we take instructions, agree the scope,
the action points, the timetable and fix the price
of the ECA. A note of all of this is generated
immediately and given to the client. Prism won
the British Legal Awards 2016, Innovation
Legal Services category, where it was described
as “something genuinely new that actually
helps clients”.
