Better compliance, minimized risks and reduced contract cycle time
Legal plays a key role in managing business risks. With the globalization of business, Chief Legal Officers (CLOs) face challenges in complying with new regulations, preventing data breaches and protecting corporate data. Non-compliance to increasing new regulations and acts like General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA) etc. affects the company’s brand and reputation.
The Wipro HOLMES™ Artificial Intelligence (AI) and automation platform mitigates business risks by transforming contract lifecycle across pre-signing and post-signing stage, through a mix of hyper-automation and cognitive intelligence. It identifies contracts across multiple repositories, extracts meta-data from varied formats of legal documents and enables faster contract review with understanding of legal language and its variations.