Allens' Real Estate Due Diligence App (REDDA) won an award in the Project Innovation category at the prestigious Property Council Australia (PCA) industry awards on Friday night.
This year, 137 finalists competed for national recognition in 20 categories – Allens was the only law firm shortlisted.
'The PCA award for project innovation is wonderful recognition by the property industry that a law firm can add value to property transactions by making due diligence reporting easier, faster and more cost-effective for clients,' said partner Victoria Holthouse.
'REDDA addresses a pain point identified by our clients – too much professional time spent on reviewing large volumes of data.
'We brought together a multidisciplinary team to work with Neota Logic to find a way to embed more than 20 years of legal knowledge into a tool that analyses leases and flags material issues that require further review,' Victoria said.
Anna Collyer, Partner and Head of Innovation at Allens, said the REDDA solution was the perfect example of blending complex legal knowledge and decision making with artificial intelligence.
'We pride ourselves on embracing new technologies and tools that help us push boundaries. For our clients, REDDA means real-time access to flagged issues, faster turnaround and greater efficiencies. For our lawyers, it means more time to focus on the issues that require legal analysis and expertise,' Anna said.
A full list of winners is available online: www.propertycouncilawards.com.au
Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.