Trusted by professionals
Kira is in enterprise use at some of the world’s largest professional services firms from the AmLaw 100, Chambers Band 1, and Big Four. They trust it for contract review, analysis, and knowledge management.
Faster, more accurate, and more comprehensive due diligence contract review
Kira helps complete contract review work faster while mitigating risk of errors and unexpected liabilities. Users consistently report time savings of 20–40% the first time using the software, and up to 90% or more with experience. Kira does this by automatically highlighting and extracting relevant contract language from contracts in virtually any file format. To date, Kira has been trusted on hundreds of billions of dollars of transactions, both small and large. See how Kira works for due diligence.
Success StoriesChemtrade uses Kira in US$900M acquisition
Improve client contract obligation management
Companies lose an average of 5–12% of contract value due to lapses in administration of contract obligations. Some examples are missed renewal dates on auto-renewing contracts, failure to ask for credits when they are due, or failure to send invoices when money is owed. Professional services firms are in an ideal position to help.
- Improve templates and playbooks by identifying standards and outliers.
- Improve tracking and management of required contract obligations, e.g., notice, confidentiality, exclusivity, indemnification, and insurance.
- Identify missed opportunities to reclaim revenue or eliminate costs by tracking renewal dates, credits due and more.
More efficient lease abstraction for real estate practices
Kira can dramatically accelerate the preparation of accurate and comprehensive lease summaries. Using Kira, lenders and purchasers can get a quick overview of lease terms for a single building or an entire portfolio, in minutes if necessary, in support of advisory and transactional real estate practices. Kira can also help analysts and lawyers complete property due diligence more quickly and accurately.See how Kira works for lease abstraction
Mitigate risks, ensure compliance and develop new business lines
Clients may need help reviewing contracts to identify areas of risk of noncompliance with FCPA, export control, or other regulatory issues. Kira includes built-in provision models that can identify these clauses across large volumes of contracts. Using Kira Quick Study, additional compliance provision models can be tailored to specific client needs. The process of review documents for compliance—even across extremely large pools of contracts—can be partially automated, and reapplied to other projects for additional clients. Over time, this helps to create an additional margin business for the firm, around which additional legal services can be upsold.
Enhance your financial services practice
Consistency is key in financial services, and variations from one deal to the next need to be considered carefully. Kira makes it easy to see aberrations from the norm, even on third party paper. For example, a financial services practice can use Kira to maintain a library of prior clause precedents for their credit agreements and other financial instruments. Running every new deal document through Kira helps identify clauses that should be checked against the prior deal database, ensuring consistency and accuracy of advice across the team.
Improve knowledge management with unparalleled clause search capabilities
Unlike keyword-search systems, Kira can accurately identify clauses even when the wording varies substantially from contract to contract. Automate the classification of documents and collection of clause precedents across an entire repository. Use Kira to identify clauses and deal points from prior transactions, and then create a searchable archive of those provisions for use on future projects. A great example is the ability to create M&A deal points studies that not only provide advice on what’s “standard” but also make it easy to find the actual clause language from prior deals.
Mitigate risk of errors
Catch provisions missed by unassisted review. For crucial provisions, mistakes can be costly.
Dramatically faster dealmaking
When diligence is more productive, deals get done faster, and clients are happier. Amidst increasing competition for deal work, Kira provides an edge.
Along with improved accuracy and speed, Kira provides greater insight into the contract analysis project. Easily provide senior lawyers and clients with transparency into the review.
Clients often need more contracts reviewed, but are concerned about costs. With Kira, lawyers can review more contracts in less time, providing greater value to their clients and increasing the potential to upsell broader legal services.
Deals get done on time. And time not spent on routine review can be used to add value in other ways.
Junior professionals get their review done in less time, while still learning the valuable basics of due diligence.