Challenge
A small medical equipment manufacturer is undergoing diligence ahead of a potential transaction. As part of diligence, they need to tag and upload 500+ contracts into a central contract management system (CMS). However, their legal team is so lean that using only internal resources would significantly delay the transaction.
Approach
With limited internal capacity, the legal team faced a major operational hurdle. Although they could upload the contracts manually, they estimated it would take 3 months to complete. In stepped Axiom with a lawyer equipped with and trained on AI software. In just over a week, the Axiom lawyer uploaded and tagged all 500 agreements, including 10-15 clauses within each. What would have taken a paralegal three months working off the side of their desk was condensed into a focused one-week project.
Impact
- Saved legal team 2.5 months of tedious work, freeing up the paralegal to focus on ongoing matters and high-value projects.
- Eliminated major bottleneck in the diligence process by ensuring all documents were properly categorized and available in the CMS.
- “[The results] made me look like a miracle worker to our CEO”
- General Counsel, Medical Equipment Company
*Cost savings estimates are based on actual Axiom rates compared to equivalent law firm rate averages as listed in Wolters Kluwer’s Real Rate report.
