By Leading business and financial adviser Grant Thornton UK LLP has partnered with MRI Software to develop a unique capability that provides contract analytics and insights to the EMEA market.
The agreement means that MRI Software will provide capabilities beyond its real estate management remit to provide pioneering artificial intelligence technology for data extraction and contract analytics for corporate and legal documents.
The service is a flexible capability with the potential to unlock value from existing contracts across a range of industries and can include leases, service agreements and other vital business contracts.
Grant Thornton will act as a reseller and channel partner for MRITM Contract Intelligence powered by Leverton AITM, which uses pioneering artificial intelligence technology for data extraction and contract analytics for corporate and legal documents.
The combined offering provides a scalable, efficient, and transparent capability that businesses can use to unlock value from existing contracts, either as a direct revenue increase or broader insight to drive process improvement.
The service is a flexible capability with broad potential across a range of industries, particularly affecting those with a high volume of business-to-business contracts that are substantial in value.
Commenting on the agreement, Paul Jefferies, Consulting Partner and Head of Telecommunications at Grant Thornton UK LLP, said:
“We are excited to announce this formal agreement with MRI Software as it will help to unlock the significant commercial value that many of our clients suspect is locked away in their legacy business contracts.”
“We have been working with MRI’s Leverton AI platform for the last two years through several client engagements, and our experience is that we can consistently deliver strong return on investment for clients after a short proof of concept period.”
“MRI Software’s deep learning technology coupled with Grant Thornton’s in-house analytics capability structures and simplifies an otherwise confusing data landscape and provides absolute clarity around contractual billing performance.”
“The market-place for contract analytics has rapidly evolved in the last few years with increased adoption of digital solutions for managing, analysing and assuring legal contracts.”
“This agreement represents an exciting flexible and scalable digital capability that helps organisations unlock contract value.”
Saurabh Abhyankar, Chief Product Officer at MRI Software, added:
“The new agreement between MRI and Grant Thornton empowers organisations to take control of data and leverage it to reduce risk and maximise value for the business.”
“AI-powered technology helps uncover revenue gaps, unnecessary spending and sources of lost revenue, which allows revenue assurance teams to verify that their billing processes match the contract pricing structures.”
“This service will be essential for forward-thinking organisations to protect their business and move forward confidently while navigating change and driving operational efficiencies.”
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