Litera Kira vs. SpotDraft

Kira is a great due diligence tool and can be well utilised on both large and small transactions. It also has good application if you are looking to compare multiple documents against a model form document or market standard templates. Kira is less useful if you are looking to review emails (e.g. as part of a disclosure exercise); or if your review involves non-Latin based script languages.

The best place to use SpotDraft is on contract negotiation. The entire life cycle of a contract negotiation is captured well on SpotDraft. Data is also crunched and displayed in dashboards. We get to prepare better first drafts of contracts when we know of areas which get heavily negotiated on.

Incentivized

• Good for quickly getting to the relevant part of the document in the English language, the smartfields are accurate.
• Handles large scale review well with an excellent UI and helpful project management features.
• Cloud-based platform handles multiple simultaneous reviewers efficiently and easily.
• Ability to self-train smart fields is a definite advantage.

Incentivized

• Finding that many contracts aren't that 'standard' and if not standard, it is impossible to find enough examples to train with
• Many contracts have handwritten data, especially the key terms that it cannot read.
• Sometimes the contracts have attachments with important terms, we find that harder to train.

Incentivized

If our firm had more contracts in English, the usability of Kira would be rated higher. However, since we have to train clauses in Portuguese in order to use Kira, it makes its usability lower. We still are not able to fully use Kira for reading contracts in Portuguese. It takes a long time and many associate hours to make Kira usable in other languages.

Incentivized

I don't know of any other tool that provides so much flexibility and delivers efficiency in CLM.

Incentivized

There was an email sent out with technical questions that was not attended to. However, Kira support has been good in general in that emails are well attended to overall, the Kira support portal is great and regular meetings are held.

Incentivized

Support is decent, mostly the features are self explanatory.

Incentivized

We initially chose Kira because of the Quick Study feature and because we trust Noah. We've since evaluated Diligen--its features have grown substantially over the past year. We've also tried ContraxSuite, LawGeex, Evisort, Luminance, eBrevia, Heretik, Blackboiler, and many others. It all comes down to the cost + feature set. We will always go with the lowest cost provider with the widest needed feature set (assuming there are no accuracy or performance issues during the pilot).

Incentivized

SpotDraft came in highly recommended. So we purchased it directly.

Incentivized

• When trained to read bespoke types of documents, the accuracy can be very good and the consequential time savings very high. In this scenario we have reduced the average time of review of one type of client documents from over an hour to 15 minutes.

Incentivized