Slaughter and May today (19 April) announces that it will implement visualisation tool StructureFlow across the firm. StructureFlow, which was founded in the UK, helps users to produce digital diagrams and plans to help visualise complex legal structures and transactions.
StructureFlow completed and won the Magic Circle firm’s first Collaborate legal tech incubator programme in July 2019, beating five other cohort members to secure a successful pilot with the firm. Slaughter and May says it will now be rolling out the technology on an ongoing basis.
Since commencing the pilot, the technology has been trialled on live transactions by lawyers in the corporate, financing, financial regulation and tax practices.
We’re told that the pilot showed that the use of StructureFlow enabled users to produce structure diagrams and steps plans more quickly, easily and professionally than they could using more traditional tools. StructureFlow has been used on a wide range of matters, including the documentation of group structures in due diligence reports, mapping out funds flows for deal completions and mapping out the parties and contracts involved in a joint venture.
Slaughter and May clients are also using the technology and reaping the benefits. David Westgate, group head of tax at Derwent, sais: “We have been using StructureFlow with Slaughter and May on the structuring of a complex joint venture and redevelopment. The diagrams are clear and easy to interpret as well as showing multiple steps. We can see a wide range of use cases for the tool and look forward to using it going forward.”
Emma Walton, knowledge and innovation manager at Slaughter and May, said: “The development of the StructureFlow product and the responsiveness to our requirements has been really impressive at every stage. We have seen StructureFlow grow and develop since we started working with them through our Collaborate programme, and are looking forward to extending our usage of the tool and seeing how it continues to improve.”