Elena Folkes, director of Market Development, Thomson Reuters; Geetha Mashetty, product lead, Transaction Management, Thomson Reuters; and Jag Dhariwal, CEO, Dealcloser, shared what the partnership means for legal professionals in the Legal Geek session, “The new frontier of Transaction Management: a game-changing solution from Thomson Reuters.”
Folkes and Dhariwal noted that the average time to close merger-and-acquisition deals has risen more than 30% in the last decade, with 22% of delays stemming from inadequate technology supporting the due diligence process. Folkes and Dhariwal explained that the HighQ-Dealcloser partnership lays the groundwork for addressing these pain points for customers.
The partnership aims to fulfill a vision of an end-to-end transaction management solution integrating HighQ, Document Intelligence, and Dealcloser. The integrated solution will enable users to address each stage of the transaction lifecycle: preliminary processes and documents, due diligence, transaction documents, regulatory filings and approvals, closing, and post-closing.
“The vision for the HighQ and Dealcloser partnership is to enable customers to close deals faster and better leverage technologies to control costs and improve productivity,” said Sebastiaan Bos, senior director, Legal Practice and Productivity, Thomson Reuters. “This collaboration is a proof point for the Thomson Reuters build, buy, partner approach to provide customers with the best and trusted solutions at speed, and our continual efforts to apply cutting-edge innovations to support our customers’ evolving needs.”
“Our end goal is to provide customers with access to a single source of truth across the entire deal lifecycle, and this partnership is a critical first step in making this a reality,” said Dhariwal. “We are excited about this partnership and how it ultimately will enable our customers to provide a superior client experience, reduce costs, and mitigate risk throughout the deal lifecycle.”
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