AI-Driven Software Bolsters Review, Supports FTI Technology’s Contract Experts in Streamlining Processes for Clients
WASHINGTON, Sept. 24, 2018 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced the Company’s Technology segment has entered into a teaming agreement with Kira Systems. The collaboration will provide FTI Technology’s Contract Intelligence practice with an industry-leading tool that automates the extraction and analysis of key provisions from both structured and unstructured corporate contract populations. With Kira Systems’ software, FTI Technology’s team of experts will be further equipped to streamline processes that support the elimination of risk and creation of value.
“Relying exclusively on manual processes for collecting and reviewing relevant data within contracts is cost-prohibitive and resource-intensive,” said Ryan Drimalla, a Managing Director in FTI Technology’s Contract Intelligence practice. “Kira’s ease of use and scalability will help our team automate the extraction of business-critical information found within these documents and, through integration with our existing suite of technologies, provide our clients with even more powerful and comprehensive contract discovery and analysis solutions.”
FTI Technology launched its global Contract Intelligence practice in June 2017 to provide clients with contract process experts, forensic experts, corporate investigation specialists and technology professionals who have led some of the world’s largest and most complex regulatory response, information governance, M&A, litigation and investigative engagements. The team will further enhance client services with Kira Systems’ AI-enabled contract review software to improve speed, accuracy and complex contract review across large-scale corporate projects.
“FTI Consulting is truly a global leader in business advisory innovation, and its Contract Intelligence practice is a perfect fit for our software’s capabilities,” said Rich Hermann, Director of Corporate Markets at Kira Systems. “The team has repeatedly demonstrated its ongoing commitment to providing clients with the best service through the adoption of technology-driven solutions.”
Kira Systems’ software, Kira, uses machine learning to automate the extraction and analysis of key provisions from both structured and unstructured contracts, accelerating and improving the accuracy of due diligence, general contract reviews, deal points studies, regulatory compliance, contract metadata extraction projects and more. Kira will be used to help FTI Technology streamline the due diligence of contracts process, forensic analysis of deals, compliance with lease accounting standards, and other complex review projects.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 4,600 employees located in 28 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $1.81 billion in revenues during fiscal year 2017. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.
About Kira Systems
Kira Systems’ technology is the most used and trusted software for contract review and analysis, helping the world’s largest corporations and professional service firms uncover relevant information from unstructured contracts and related documents. Kira is powerful, patented, award-winning software that excels at searching and analyzing contract text and can be deployed for due diligence, knowledge management, lease abstraction, regulatory compliance and other projects where visibility into contract provisions is critical. Using Kira Quick Study, anyone can train additional models that can accurately identify virtually any desired clause. To find out more, please visit www.kirasystems.com.
FTI Consulting, Inc.
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FTI Consulting, Inc.