AI-driven software bolsters review, supports FTI Technology’s contract experts in streamlining processes for clients
Washington, D.C. – September, 2018 — FTI Consulting, Inc. (NYSE: FCN) today announced the Company’s Technology segment has entered into a teaming agreement with Kira Systems. The collaboration provides FTI’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’s software, FTI’s team 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, Managing Director in FTI’s Contract Intelligence practice group_._ “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 launched its global Contract Intelligence practice in June 2017 to provide contract process experts, forensic experts, corporate investigation specialists and technology professionals that have led some of the world’s largest and most complex regulatory response, information governance, M&A, litigation and investigative engagements. The team looks forward to further enhancing client services with Kira’s 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 Consulting streamline the due diligence of contracts process, forensic analysis of deals, compliance with lease accounting standards, and more.
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 4,700 employees located in 29 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 billionin revenues during fiscal year 2016. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.
About Kira Systems
Kira Systems’ technology is a powerful, award-winning software solution that excels at searching and analyzing contract and document text, helping the world’s largest corporations and professional service firms uncover relevant information from their contracts and related documents. Kira can be deployed for contract intelligence due diligence, knowledge management, real estate, regulatory compliance, and wherever visibility into contract and document data is critical. Using Kira Quick Study, our no-code machine learning platform, anyone can train Kira to accurately identify and answer a question about virtually any desired clause or data point from their business documents. To find out more, please visit www.kirasystems.com.