This piece by the Mayer Brown team is a great read.
Contract analytics is a branch of the forensic technology world that is a little different to what I usually talk about. I agree with what the authors are saying in that there are similarities between eDiscovery and contract remediation exercises. And certainly, in this case, the remediation is related to IBOR which is something many people have or are or will be dealing with.
It is important to remember that discovery tools and processes can’t do everything. Can they be configured to do a job? Yes, they can. But is it better to consider using one of the contract analytical tools out there that is specifically designed to ingest, analyse, report on and use AI to remediate on the specific terms within a large set of contracts? I would stress it probably is.
We have been increasingly helping clients deal with these sorts of challenges, and there are many business drivers out there that warrant this sort of approach. Contact me if you’d like to know more about this.
With the cessation of LIBOR on the horizon and thousands of contracts at stake, we expect the decades of experience of litigators with e-discovery tools to be very helpful in aiding the transition.