AI-powered technology continues Intapp’s mission of delivering active intelligence across its Industry Cloud for Professional Services to help firms modernize their business operations
ORLANDO, Fla. , Aug. 19, 2019 (GLOBE NEWSWIRE) -- Intapp, the industry cloud for professional and financial services, today announced its new artificial intelligence (AI)-powered conflicts resolution capability. Built on top of Intapp’s active intelligence engine, Intapp Conflicts provides assisted clearance to help firms dramatically reduce the time spent on conflicts searches by quickly surfacing the true conflicts “hits” so they can work faster, more efficiently and more accurately.
Many firms perform tens of thousands of conflicts searches each year using a highly manual and inefficient process. This means that lawyers and support staff aren’t maximizing the time they are able to spend on revenue-generating activities. Intapp Conflicts filters out the inherent “noise” and enables analysts to better focus their efforts and more quickly target results that require a lawyer’s attention.
The results of Intapp’s recent conflicts innovation program were telling: client firms spent an average of 8.2 person-hours on a typical conflicts-clearance effort from initial search to resolution. Using Conflicts with active intelligence, they slashed the amount of time spent on their conflicts clearance process by up to 60%. Based on program findings, it is projected that a typical large law firm could save between $6-10 million over four years, allowing the firm to scale cost-effectively and provide their lawyers with more time to focus on client success.
“Many law firms are looking to derive valuable insights from their data to make decisions faster with greater accuracy and efficiency,” said Jose Lazares, Intapp’s vice president of product and business management. “This is especially true with conflicts resolution, which is a critical part of the business acceptance process and one in which accuracy is critical. Now, with Intapp Conflicts, our customers can leverage actionable intelligence to automate and scale critical risk management activities.”
With Intapp Conflicts, customers can:
Experience productivity improvements, giving firm lawyers and staff more time to interpret the conflicts detected and decide on the most appropriate course of action
Receive assistance with decision-making tasks, thereby empowering analysts to add value elsewhere
Structure conflicts reports in a way that aligns with how analysts and lawyers actually think
Increase accuracy by leveraging historical data regarding previous searches, hit results and final decisions.
Reduce costs and enhance ability to scale operationally due to speed, efficiency and accuracy gains
Intapp provides the first and only professional and financial services industry cloud to help firms shift to a modernization strategy and gain a growth edge in today’s competitive marketplace. Over 1,400 clients globally rely on us, including 98 of the Global 100 law firms, five of the top eight global accounting firms, and more than 650 private equity, investment banking and other capital markets firms. We offer intelligent solutions – purpose-built for partner-led firms – spanning the entire client lifecycle, from strategy through origination and execution. Intapp is backed by Temasek and Great Hill Partners. For more information, visit www.intapp.com