Challenge
Ahead of a planned M&A transaction, Vulcan needed to evaluate the material terms buried across a deal room with hundreds of contracts. While they could send this out to a firm, their deal team wanted a fast-moving partner to help them accelerate their analysis in a more cost-effective way.
Approach
Axiom embedded a senior lawyer with the client to extract key contract data and migrate supplier relationships with new participation agreements. To handle volume without sacrificing accuracy, Axiom used Legora, an AI contract review platform, to extract entity details, stitch together templates, and process 344 supplier contracts at a fraction of the time manual review would have required. The Axiom lawyer then manually cross-referenced the client's internal source-of-truth records to flag which suppliers required which combination of agreements and to correct record errors until project completion.
Impact
- Client received a structured view of material contract terms across the whole document set in a week, significantly faster than the traditional manual diligence process.
- Client saved 90% of total cost compared to traditional outside counsel review, which would require hundreds of hours of associate time.
- By applying the same extraction logic across each document, Vulcan received standardized outputs that made it easy to compare terms and identify potential roadblocks in the deal.
*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.
