West km for Transactions is an add-on module to West km Foundation Services that is tailor-made for use by everyone - from junior associates to senior staff members - involved in the process of negotiating and finalizing transactions. It simplifies and accelerates the transactional law process so that you can close deals quickly and significantly improve your bottom line.
At the heart of West km for Transactions is a patented text-mining engine that uses artificial intelligence to automatically extract and precisely tag significant content in your transactional documents. This analysis helps speed up and simplify your deal research, due diligence, and document drafting.
How West km for Transactions Works
West km for Transactions automatically finds and categorizes all documents, clauses, and defined terms across your document collection. It also extracts and precisely tags substantive data including the parties involved, governing laws, jurisdictions, law firms, and other deal points.
Even better, all this heavy lifting occurs behind the scenes without reliance on user data entry, document pre-tagging, or even accurate document profile information. The analysis engine in West km for Transactions extracts and precisely tags this significant content automatically.
A West km for Transactions result list displays key deal points and summaries so you can quickly assess the most appropriate clause for reuse.
Speed Up Research Using Full-Text and Smart Searching
West km for Transactions provides knowledge-based research and analysis capabilities to expedite deal research and due diligence efforts. The system is as easy-to-use as an Internet search engine. Simply type in a few descriptive words and press Search to get a list of relevant documents or clauses. Result lists include key deal points and convenient summaries to facilitate the review process. Smart, concept-based search capabilities automatically add root expanders, synonyms, and related concepts to your document title searches to improve your results.
Simplify and Improve Document Drafting
By simplifying the complexities associated with the document drafting process, West km for Transactions increases your productivity, expedites document turnaround, and helps you maintain and improve the quality of your organization's work product. An intuitive word processor add-in function allows you to search for documents, clauses, or other snippets and drag-and-drop selected content into draft documents. To improve consistency and speed the learning curve for junior associates, you can designate key staff members to act as content creators. These users are granted appropriate security to establish and annotate model documents for use across the organization.
Consult the Experts
Thomson West's consulting services team ensures that your organization applies the best practices in the industry for knowledge management. Our technical and project management experts provide unmatched product knowledge and understanding of knowledge management in the legal industry.