Documentation software vendor Litera, which acquired enterprise file sharing and collaboration specialist Workshare in 2019, has extended its use of artificial intelligence with another acquisition.
The deal with Bestpractix, announced this week, allows Litera to deepen its offering in contextual, predictive content delivery through the contract drafting lifecycle for law firms and other documentation-intensive businesses, via the former’s AI-powered contract drafting platform. According to Litera, the Bestpractix solution speeds up the creation of legal documents with the use of natural language processing and machine learning.
“By analysing previously negotiated agreements, the platform is able to accelerate precedent research and provide lawyers with smart, tailored and contextual drafting recommendations throughout the contract drafting process,” the company explained in a statement.
Bestpractix CEO and co-founder Omer Hayun and CTO Elad Hayun are joining Litera to develop the Litera portfolio.
Workshare Compare, which allows users to compare changes across any two documents in seconds, has become a key product within Litera’s portfolio, continuing to receive high marks from TrustRadius in 2020 for usability, performance, and the likelihood of being recommended by a reviewer.
The news follows hard on the heels of the appointment of Haley Altman as Litera’s global director of business development and strategy. Prior to joining Litera, she was founder and CEO of legal transaction management software provider Doxly, another legal-tech firm which Litera acquired in 2019.
Avaneesh Marwaha, CEO of Litera, said in the announcement that Altman had many qualities suited to an expanded leadership role.
“Her extensive experience as an entrepreneur and former lawyer is indispensable. We’re excited that her expanded role allows her greater focus on engaging directly with our customers and the legal industry,” Marwaha said.
And in May, Litera deepened its deal with DocuSign to add e-signature integration. This would enable it to boost law firms’ abilities around automated and paperless closing processes.
“[This allows] legal teams to seamlessly create and package documents in Litera Transact (formerly Doxly) for execution through DocuSign eSignature, to sign from practically anywhere. This means no face-to-face contact, no paper, no couriers, no mailing, and no trips into the office for printers and scanners,” according to the press statement.
Litera outlines what law firms will need from their business continuity plans in a whitepaper, downloadable here.
