Vesparum Group, an Australian AI trailblazer, has announced the release of its purpose-built document comparison solution, Draftable Legal.
The new purpose-built document comparison solution optimises document comparison tasks, such as identifying discrepancies, errors, and changes in legal documents, empowering teams in the legal sector and other document-intensive industries to enhance accuracy, efficiency, and risk management in their workflows.
The solution is the result of a two-year collaborative effort involving world-leading AI experts, with significant input from members of the Australian and global legal community.
Draftable Legal also fills a gap in the legal industry that has come about due to drastic changes in the document-comparison market.
Brendan McGreevy, Commercial Director, Draftable said: “We started seeing more lawyers reaching out to us citing three key changes in the document comparison market: prices were rising sharply, customer support was eroding, and product choices were diminishing.”
“While there’s always been a significant demand for our general-purpose document-comparison software from the legal sector, we previously couldn’t meet the unique needs of lawyers. Now we have,” he said.
Draftable Product specialist and former Herbert Smith Freehills’ lawyer, Yulia Gosper, said Draftable Legal is the responsive solution that perfectly aligns with the discerning needs of the legal profession, delivering valuable enhancements where they matter most.
“Draftable Legal is an intuitive solution I wish I had during my time working in a law firm. Document comparison is an essential task, typically forming part of document drafting and review workflows, and the legal industry has been in search of a more intelligent approach to alleviate the time-consuming nature of it.”
“Through its seamless integration with the key software used in the legal industry (such as data management systems, MS Word, and Outlook), Draftable Legal enables streamlining this critical workflow,”
“This allows those working in the legal profession to spend the ‘saved’ time doing higher value, intellectually stimulating work,” she said.
Draftable Legal is the brainchild of Australian-based disruptor, Vesparum Groupand is setting itself apart from established competitors by ensuring localised customer support and competitive pricing. Draftable has teams working across all time zones to ensure fast and reliable solutions and support.
The company is founder-led and privately-owned, and its overarching mission is to create and deploy AI technologies to solve tangible business challenges.
Founded in 2012 in Melbourne, Australia, Vesparum Group is the brainchild of visionary siblings Ben and Tim Toner. With Ben’s AI and technical expertise and a PhD in Quantum Physics from Caltech, and Tim’s commercial acumen gained from his roles at Macquarie Group and Lazard, the Toner brothers embarked on a mission to build a global AI company.
Today, Vesparum Group has more than 70 people (AI engineers, machine learning experts, software and product developers, investment bankers and consultants), operating in 12 countries providing products and services to more than 1000 customers globally.
