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Kira Inc. News

Kira Systems Named 2016 Gartner Cool Vendor in Procurement and Sourcing Technology

Posted on May 31, 2016 8:30:00 AM by Andy Kim

Toronto, ON - Kira Systems, the machine learning contract analysis software provider, has been named as one of Gartner’s “Cool Vendors” in Procurement and Sourcing Technology, 2016.

Each year, as a part of its Cool Vendors research, Gartner identifies emerging vendors with innovative and game-changing technologies, business models and service offerings. This year’s Cool Vendors in Procurement and Sourcing Technology report highlighted, among others, vendors that leverage survey analytics, algorithms and machine learning capabilities to bring solutions to challenges faced by procurement and IT leaders.   

The report cites Kira Systems’ thought leadership in using machine learning to improve business performance as its point of differentiation, and describes Kira as a “secret weapon” within a corporation’s contract lifecycle management (CLM) strategy.

Kira’s proprietary machine learning technology excels at automatically identifying and extracting relevant information from all types of contracts, and organizes it into metadata that can be exported and synced into other systems. Kira comes with built-in machine learning models covering general commercial terms, real estate leases and compliance terms, as well as those provisions that are commonly reviewed in due diligence and post-merger integration. Customers can also customize Kira’s capabilities via its easy-to-use Quick Study feature to train additional machine learning models that can accurately identify virtually any desired clause. 

Earlier this month, Kira Systems was also named the winner of Legaltech News 2016 Innovation Award for Knowledge Management Software of the Year.

“We are pleased and honored to have been named a Cool Vendor by Gartner,” said Noah Waisberg, CEO and co-founder of Kira Systems. “We spent years developing our proprietary machine learning technology to be especially accurate at extracting and identifying text in all types of contracts. Today, Kira has been deployed by some of the world’s leading firms and our machine learning technology is providing them with greater visibility into their executed contracts.”

About Kira Systems

Kira Systems helps enterprises uncover relevant information in unstructured contracts and related documents. Our powerful, award-winning software excels at searching and analyzing contract text. Kira offers pre-built machine learning models covering due diligence, general commercial, corporate organization, real estate and compliance. Using Kira Quick Study, anyone can train additional models that can accurately identify virtually any desired clause. Kira can be deployed on virtual data rooms and other large repositories of contracts, creating summary analyses within minutes. Customers, who include some of the world's largest corporations and professional services firms, trusted Kira on over $100 billion of M&A transactions in 2015 alone. They also deploy Kira for knowledge management, contract search, analytics, and other use cases where visibility into contract provisions is critical. To find out more, please visit www.kirasystems.com.

This entry was tagged Kira Systems Updates, Corporate Practice, Machine Intelligence

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