London, UK, 23 November 2020: ayfie, a leading provider of search and text analytics solutions, today announces that an international law firm based in Londonhas licensed ayfie’s search and extraction platform for their mergers and acquisitionsteams to scope due diligence exercises. The decision was made after a successful trial in the first half of this year.
The customerwas looking for ways to improve workflows with intelligent automation, becausesell-side due diligence always starts with an enormous amount of unstructured data that is not easy to mine. ayfie’s technologyimmediately provides structure and automates entity extractions without the need for training.
Increasing data volumes and file types can generate immense complexity for due diligence exercises. ayfie provides a cost-effective way to review large and diverse data sets - and is fully integrated with virtual data room software, such as HighQ, Ruby Datum, Azure and file servers. Structuring data for review is simply a matter of adding files that are being continuously analyzed by ayfie’s natural language processing engine.
“Our customers like the simplicity of ayfie’s interface in combination with automatically extracted meta information such as key entities in thirteen languages. More so, the ability to annotate and place notes on documents without touching the native files in their original silos, will be extremely useful for due diligence teams,” stated Lasse Ruud, ayfie’s VP Marketing and Communication. “Accelerating understanding of client data will increase efficiency and predictability for due diligence.”
The result of ayfie’s solution is speed and the ability to extract insights from unknown data sets.Since ayfie requires no upfront training, it is much more effective in these scenarios than pure machine learning approaches.
“We are extremely pleased to have another international law firm leveraging our linguistic capabilities to deliver greater value to their clients”, adds Ruud.
About ayfie – ayfie (ayfie.com) offers search and text analytics solutions that bring structure to unstructured data. Its products combine artificial intelligence with deep expertise in linguistics, computational linguistics and computer science to extract meaning from text. Professionals across all industries use ayfie’s powerful text analytics engine to efficiently detect personally identifiable information, reveal critical insights, conduct smart searches and power security practice workflows.
The company is headquartered in Oslo, Norway with offices in the US, UK, Germany and Sweden.