NEW YORK – Duff & Phelps, the premier global valuation and corporate finance advisor, has selected eBrevia’s award-winning artificial intelligence technology to deploy throughout the enterprise for faster contract review.
Duff & Phelps has already been using the software for large-scale contract review projects to augment its professionals’ expertise and bring increased value to clients more quickly. The firm will continue to leverage the software for a variety of use cases as it advises clients on a range of strategic and complex business challenges.
Duff & Phelps has been increasing its presence in the contract management space from two perspectives: legal management consulting and post-acquisition integration. As a legal management consultant, Duff & Phelps advises clients on selection and implementation of contract lifecycle management systems. Once installed, those systems require large migrations of contract data for population purposes. Duff & Phelps also advises clients on their system and contract data integrations after acquisitions as it relates to newly acquired targets. In both arenas, the ability to review, analyze and align large volumes of contract data is paramount to success.
eBrevia’s software analyzes contracts and extracts unstructured data and complex legal concepts, regardless of the vocabulary used or placement in a document. In addition to utilizing pre-trained provisions out of the box, eBrevia’s Bespoke self-training solution enables non-technical users at Duff & Phelps to train the system to extract custom information and meet their specific needs. Duff & Phelps piloted several vendors in the space before selecting eBrevia.
“Using eBrevia’s software enables us to scale our domain expertise to more efficiently serve the needs of our global clients,” said Tyler Marion, Managing Director. "Duff & Phelps is known for being on the cutting edge of innovation. Machine learning technology is playing an increasingly prominent role in knowledge work. eBrevia is on the forefront of this movement in the contract analytics space.”
Duff & Phelps will increasingly use the software not only for transactional work and large-scale contract review projects, but also to assist its clients in complying with IFRS 15, IFRS 16 and GDPR.
“We’re thrilled to be working with Duff & Phelps,” said Ned Gannon, eBrevia’s CEO. “Accelerating the contract review portion of projects enables the firm’s professionals to spend more of their time developing the sophisticated strategic solutions for which they are known. Complementing deep domain expertise with cutting edge machine learning technology creates substantial value that directly benefits Duff & Phelps’ clients.”
About Duff & Phelps
Duff & Phelps is the premier global valuation and corporate finance advisor with expertise in complex valuation, disputes and investigations, compliance and regulatory consulting, M&A, real estate, restructuring and other governance-related issues. The firm’s more than 2,000 employees serve a diverse range of clients from offices around the world. For more information, visit www.duffandphelps.com.
About eBrevia
eBrevia provides leading enterprise contract review and analysis solutions, leveraging machine learning to produce faster and more accurate results. The software, which extracts and summarizes key legal provisions and other information, is used in due diligence, contract management, lease abstraction, and compliance. eBrevia’s clients include global law firms, Fortune 500 companies and audit/consulting firms around the world. For more information, visit www.ebrevia.com
