What agreement types does Likezero support?
Likezero is agnostic to document type and can support complex legacy contracts. Likezero has processed the majority of financial services contracts.
What languages does Likezero handle?
Likezero supports any language, as we do not use rules to “interpret” text our data mining and matching process works on any language. We have processed thousands of collateral agreements in French and German for a Leading European Investment Bank.
Can Likezero process fund agreements?
Yes, and we can hold data against umbrella agreements at either a fund or individual attribute level.
Does Likezero only handle standardised templates?
No, Likezero works extremely efficiently even where there is minimal standardisation e.g., Loans contracts.
How does Likezero handle OCR errors and poor scans?
Likezero has proprietary OCR software and can handle legacy scans (i.e. 40+ years). OCR errors are detected through a probability measure that compares all of the words in one paragraph relative to another “similar” paragraph. The differences in words between the paragraphs are highlighted to a system operator for review. The software will never automatically collect data against a clause unless it is an exact match to the predetermined clause library, this removes the risk of incorrect data being collected due to OCR issues.
How scalable is Likezero?
Likezero is fully scalable, both in terms of documents and data model. Likezero has delivered enterprise wide projects which require the processing of over 300,000 documents and collected over 1 million data points, for a single client.
Is there a central document repository I can search across?
Yes, this is surfaced as a contracts inventory which is a golden source of all documents (original, amendments etc.) and associated data (contract, reference and metadata). Users can perform in depth search across the contracts inventory for documents (historic), extracted data, legal clauses, reference data, tags, comments/notes etc.
Can Likezero split multiple agreements in one PDF?
Yes, documents can be split upon upload into Likezero.
Can Likezero highlight where a specific clause exists across other agreements?
Yes, Likezero groups together clauses that are the same into ‘clusters’ and these are instantly surfaced to the user. Users search for a clause and see where it exists in other agreements in the contracts inventory.
Can Likezero compare clauses to see different variations?
Users can search for a clause and instantly see where there are similar clauses and the software highlights the differences with other clauses, for the user to review.
Can I add comments to particular clauses?
Yes, a note attached to a cluster (clause), this strengthens the power of clause level analysis performed by legal teams by ensuring the opinions are stored at clause level forever, across all agreement types where the clause may exist. The user can then search for all clusters containing a note to review all previous analysis in one place.
Can I search by the entity name?
A user can search by legal entity name, and can assign ‘Legal Entity Role’. This provides a ‘look across’ view to the user to understand not just what entity relationships exist across multiple agreement types but also an additional insight into the role they have in each agreement. This feature enables a deeper, macro level understanding of entity relationships and their associated risk profiles across agreements where an entity may be a ‘Party B’ in one agreement and a ‘Lender’ in another, which benefits all aspects of the business.
What data models does Likezero have?
Likezero has a Master Data Model consisting of thousands of attributes which supports a variety of agreement types and can be applied to individual use cases such as BREXIT, LIBOR Cessation, Loans Reference Data & Collateral, Prime Brokerage etc.
Can Likezero ingest reference data?
Yes, Likezero is fully customisable to hold required client specific or industry reference data for various use cases e.g., credit risk data.
Can Likezero extract data embedded within tables?
Yes, Likezero has a market leading capability to extract and manage data found within complex tables e.g., Credit Support Annex (CSA) Eligible Collateral and Loan Facility Terms and Conditions.
Can the data model be adapted midway through a project?
Yes, a Likezero operator is able to configure the data model for new use cases at any point in time.
Can Likezero’s software handle out of sequence processing?
Yes, we can process any document irrespective of order i.e. if an amendment is found and needs to be added at a later stage the data framework links the document in the correct order and captures the latest representation of the overall agreement.
What is the Likezero Clause Library?
The Clause Library is a set of predetermined clauses that are mapped to Likezero’s Data Model. When new documents are processed, the paragraphs mined from the document are automatically matched against the Clause Library and data is subsequently inherited from the Library enabling a Straight Through Process.
What reporting formats does Likezero provide i.e. XML, CSV, BI?
Likezero provides standard data outputs in XML and CSV. Customised data feeds (and associated mappings) can be made available through APIs.
How is Likezero deployed?
Our Likezero SaaS offering is auto deployed to our cloud by a CI/CD pipeline. Each release is automatically unit, regression, UAT and performance tested in the pipeline. This allows us to confidently deploy changes within an hour after the change is completed.
What is the technology architecture of Likezero?
The Likezero product based on a micro services architecture ensures the services that deliver the Likezero functionality can scale individually and instantly to meet user demand as well as providing for high availability.
How does Likezero integrate with downstream systems?
We provide APIs and fully flexible data feeds into clients downstream systems. Our consumable data output can be trusted because it has complete context. Our data outputs enable firms to improve quality, reduce cost and more importantly save time on difficult decision making.