Luminance is an AI-powered contract analysis and management platform that automates the generation, negotiation, and analysis of contracts.
Visit Website
https://luminance.com/
Product Information
Updated:05/04/2024
What is Luminance
Luminance is a cutting-edge technology designed to revolutionize the way businesses handle contracts. Built on a proprietary legal Large Language Model (LLM), it uses next-generation AI to streamline the entire contract pipeline, from drafting and negotiation to review and analysis. This platform is trusted by over 400 customers in 60 countries, including top law firms and multinational organisations. Luminance empowers business leaders with critical insights, optimises internal workflows, and maximises revenue opportunities.
Key Features of Luminance
Luminance offers a comprehensive suite of features to manage contracts efficiently.
AI Insights Screen: Provides an instant overview of pre- and post-executed contracts, tracking activity across different functions and identifying bottlenecks in the contract lifecycle.
Contract Overview: Displays the number of contracts executed versus under negotiation, enabling business leaders to allocate resources effectively.
Contracting Parties: Identifies the most commonly negotiated contract types and frequency of contracting with specific parties, ensuring supply chain diversification and customer exposure assessment.
Alerts: Notifies users of contract termination dates, ensuring no renewal or upsell opportunities are missed.
Divisions: Allows authorised stakeholders to track activity across different functions, such as HR and Procurement, or subsidiary companies using Luminance.
Time Spent in Platform: Provides insights into individual user statistics, enabling team leaders to track performance according to targets or preferred business outcomes.
Pros
Streamlines contract management
Provides instant insights
Enhances operational efficiency
Maximises revenue opportunities
Cons
May require significant training for effective use
Dependence on AI technology can raise concerns about accuracy
Use Cases of Luminance
Contract negotiation and review
Supply chain management
Revenue optimisation
Operational efficiency improvement
How to Use Luminance
Step 1: Request a demo of Luminance to understand its features and capabilities.
Step 2: Configure the AI Insights Screen to track contract activity across different functions.
Step 3: Utilise the Contract Overview to identify bottlenecks in the contract lifecycle.
Step 4: Analyse the Contracting Parties widget to ensure supply chain diversification and customer exposure assessment.
Step 5: Set up Alerts to notify users of contract termination dates.
Luminance FAQs
Luminance is an AI-powered contract analysis and management platform that automates the generation, negotiation, and analysis of contracts.
Analytics of Luminance Website
Luminance Traffic & Rankings
25.1K
Monthly Visits
#1740481
Global Rank
#1015
Category Rank
Traffic Trends: Mar 2024-May 2024
Luminance User Insights
00:01:03
Avg. Visit Duration
1.71
Pages Per Visit
72.3%
User Bounce Rate
Top Regions of Luminance
US: 25.75%
GB: 23.4%
PA: 14.3%
IN: 6.45%
IE: 5.55%
Others: 24.55%
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