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New AI legaltech product launched in New Zealand
Posted on 21-Aug-2019 17:01 | Filed under: News

New AI legaltech product launched in New Zealand

McCarthyFinch and MinterEllisonRuddWatts announce authorDOCS Business Edition - an artificial intelligence (AI) powered legaltech tool delivering faster contract drafting and review.


Powered by authorAI, authorDOCS Business Edition brings together enhanced artificial intelligence, along with new collaborative team concept sharing, data segregation for information security and confidentiality.


authorAI is an AI platform designed by McCarthyFinch with investment from MinterEllisonRuddWatts and other investors. The platform is highly advanced - reading, writing and augmenting how lawyers work.


authorDOCS is a user-friendly add-in for Microsoft Word, enabling quick setup and easy integration with existing day-to-day processes. Its intelligence can be tailored to meet each team and user’s specific needs, including specialised review packs for specific types of contracts and machine learning of user preferences to guide the tool’s focus and suggestions it provides.


Benefits for New Zealand’s legal teams include:


Significant time savings by automatically presenting pertinent information and providing quick access to clauses and concepts needed for eļ¬ƒcient review and drafting of contracts


Greater collaboration by sharing clauses and concepts across legal teams to facilitate consistency, shared understanding and cooperation


Improved quality and reduced risk by ensuring consistency of review, including auto-flagging of issues to allow proactive management of potential problems


Delivery of greater value by reducing the amount of time required for each contract by up to 60%, empowering lawyers to refocus attention on more impactful work.


MinterEllisonRuddWatts Chief Executive, Andrew Poole said "Our firm is committed to delivering exceptional service and creating value for our clients. authorDOCS is the latest demonstration of us acting on this promise. This cleverly designed AI tool combines simplicity and ease-of-use, and is an ideal choice for any legal team looking to make tangible steps towards greater efficiency and the use of technology in the management of contracts."


James Schellhase, Chair of the McCarthyFinch Board, adds "Legal teams are expected to be more responsive, flexible, and thorough in their legal work, while providing measurable value to the business. This is amid ever tightening constraints on legal spend and resources.


"The quality and expediency of contract review and drafting are no exceptions, and authorDOCS uses AI technology to accelerate legal work and frees lawyers to focus on higher value needs of the business."


authorDOCS delivers quick wins for legal teams says Nick Whitehouse, Co-founder and CEO of McCarthyFinch.


"We have an exciting range of legal AI products in various stages of release, but we know that most legal teams are eager to begin realising the benefits of AI. authorDOCS creates immediate value, there are no complex IT projects and no changes to existing processes required. You can simply download and get started."


authorDOCS is available globally via a subscription with optional review packs, including for everyday supply agreements, material contracts, confidentiality agreements, and more. Legal teams can upgrade to the Business Edition to add team collaborative concept sharing and enhanced security.


New Zealand’s legal teams can receive of an exclusive authorDOCS offering from MinterEllisonRuddWatts - the country’s exclusive reseller of the legaltech tool.


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