Clutch Group, an organization dedicated to delivering the professional services for law, is pleased to announce that it has been named as a finalist in the Supplier of the Year category for the 2014 British Legal Awards.The British Legal Awards, held by Legal Week, are the leading awards for the UK’s business law community and incorporates 27 different categories into its program. The Awards Ceremony took place on November 27, 2014 at the Old Billingsgate Market in London.The ceremony was attended by over a thousand of the most elite lawyers and general counsel in the industry.
Clutch Group’s submission focused on LAECS (the Legal Agreement Extraction & Codification System), a proprietary documentation platform that extracts and codifies key reference data from legal and financial contracts and agreements, allowing for easy sorting, searching, and analysis. Clutch built LAECS to help a top financial services institution conduct a full-scale remediation of its derivatives contract environment and to implement an evergreen process for ongoing derivatives documentation processes. Harnessing LAECS’ customized data models and Optical Character Recognition (OCR) search functionality, Clutch’s data analytics team extracted and validated over 110,000 ISDA-related agreements for the bank, allowing the client to gain much-needed insight into its Over-The-Counter derivatives environment and exposure. LAECS is now being deployed for Business As Usual processes that have increased the bank’s legal and business operations teams’ productivity while also reducing overall costs.
LAECS was also recently recognized as an industry-leading tool in the International Association for Contract & Commercial Management Innovation Awards.
“We are excited to be named as a finalist in the 2014 British Legal Awards,” said Aamir Khan, AVP and European General Counsel at Clutch Group. “This recognition, along with the opening of our new London Office, shows how quickly we’ve established ourselves as the leading alternative legal provider in the UK. LAECS is playing an important role in helping our clients comply with evolving regulatory mandates and develop a real-time, comprehensive understanding of their risk and exposure. We are confident LAECS will become the industry standard for documentation analysis and management, helping organizations deal with their legal risk and compliance challenges in a new and innovative way.”
This recognition comes at a time of enormous growth for Clutch. Clutch recently opened new offices in London and Zurich and expanded its headquarters in Washington, DC by over 30%. In the past year, Clutch has grown over 100%, doubled its technology footprint, launched an energy and natural resources practice, and expanded its global consultant and associate pools by over 30%.Clutch Group was recently recognized as an Outstanding Service Provider in the 2014 International Association for Contract & Commercial Management (IACCM) Innovation Awards. Clutch was also named in the Inc. 5000 list as one of the fastest-growing private companies in America and was voted as a Top Legal Outsourcing Provider and a Top Corporate Investigations Provider by the 2014 New York Law Journal Reader Rankings. In addition, Clutch was named a Leader in the LPO industry by NelsonHall and was chosen as a top legal services provider in IAOP’s Global Outsourcing 100 List.
About Clutch Group
Founded in 2005 by top attorneys from leading firms and business process pioneers, Clutch Group has grown to a team of legal, technology and process experts in five offices across three continents. Clutch was built from the ground up to help General Counsels more effectively manage problems within Fortune 500 companies. Clutch combines its expertise in harnessing technology, implementing process and focusing on fact development to deliver risk-measured, cost-optimized solutions for clients. Clutch Group has been consistently ranked as a top provider by industry research as well as client satisfaction since its inception and has been recognized by industry authorities including Nelson Hall, New York Law Journal, International Association of Outsourcing Professionals (IAOP), Chambers Global, Frost & Sullivan, the Black Book of Outsourcing and Dun & Bradstreet. For more information, visit http://www.clutchgroup.com.