Danish IT security company Cryptomathic has deployed Luminance’s Contract Intelligence Platform, aiming to make contractual information more directly accessible across the business and reduce the volume of routine queries handled by its legal, risk & compliance team.
Cryptomathic, which serves major financial institutions, manages a large volume of contracts containing technical, commercial and service-level terms. Key information is often spread across master agreements, annexes, schedules and amendments that evolve independently over the course of a customer relationship.
Before adopting Luminance, questions relating to renewal dates, invoicing terms, liability positions and customer obligations were typically directed to legal. The company says the platform now enables teams including sales, finance, sales operations and IT to access approved contract information directly, with legal support reserved for more complex issues.
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According to Cryptomathic, the platform has enabled business users to query its contract repository in natural language and receive evidence-backed responses. The company says it has improved visibility into renewal dates, purchase order terms, invoicing requirements and contractual obligations, while helping to reduce routine legal enquiries.
Different teams use the repository for different purposes. IT checks response times and obligations linked to updates and releases; Finance tracks invoicing terms and licence types; Sales Operations monitors renewal dates and purchase order terms; and Legal analyses issues such as liability and indemnification.
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