From Data Extraction to Diligence Intelligence: Introducing Insight Boards

The Problem: Tables Aren’t Enough

AI-generated tables have revolutionized contract review by quickly extracting key terms across hundreds of agreements. But if you’ve ever worked on M&A diligence, you know that extracting terms is only the beginning. Real diligence requires something deeper: connecting the dots between contract provisions, understanding how a company actually operates, identifying what’s conspicuously absent from the data room, and assessing how deal terms impact what needs review.

Consider the difference between these two diligence observations: “The Acme Partnership Agreement contains a change of control provision” versus “The company’s top five customers, representing 65% of revenue, all have contracts that allow immediate termination upon change of control. Additionally, contracts with the two largest customers are missing from the data room entirely, preventing full risk assessment.” The first is data extraction. The second is diligence intelligence; the kind that actually appears in diligence reports and informs deal decisions.

This gap between extraction and intelligence has remained the biggest bottleneck in automating M&A diligence. Until now.

Introducing Insight Boards

We built Insight Boards to close this gap. Our newest feature transforms how teams move from raw contract data to actionable diligence analysis, automating the high-level insights that actually matter in M&A transactions.

Think of each insight as a building block for your diligence report. Instead of manually synthesizing information across dozens of smart tables, spreadsheets, and documents, Insight Boards deploy individual AI agents to generate comprehensive analysis on specific diligence topics. Whether you need to assess customer contract standards, evaluate IP assignment provisions across employment agreements, or identify missing key contracts, Insight Boards handle the heavy lifting.

But intelligence alone isn’t enough. M&A diligence is inherently collaborative, with multiple team members contributing expertise across different workstreams. That’s why we designed Insight Boards to combine AI-powered analysis with real-time team collaboration, giving you both automation and flexibility in a single platform.

How It Works: Agent-Powered Insights

Insight Boards put you in control of what diligence intelligence gets generated. Teams create insight cards, which serve as instructions for specific diligence tasks. Each card deploys an individual Lexcel AI agent to execute that task from start to finish.

Here’s how it works in practice. Suppose you need to analyze non-compete provisions across customer, supplier, and joint venture agreements. You create an insight card with those instructions. The Lexcel agent then builds a smart table, identifies and adds the relevant files from the data room, generates question columns, analyzes the responses, and drafts a comprehensive insight synthesizing what it found.

The best part? These aren’t static reports. Insights automatically update when new materials are uploaded to the data room, powered by Lighthouse. This means your diligence intelligence evolves alongside the data room, ensuring you are always working with complete, current information.

Built for Collaboration

One of our biggest challenges in developing Insight Boards was enabling real-time collaboration without forcing teams into rigid workflows. Every firm works differently, and we wanted to give teams the flexibility to use Insight Boards however best fits their process.

Once an insight is generated, team members can edit, comment, flag, approve, or regenerate it as needed. Every action is tracked in a complete activity history, creating an audit trail that team members can reference at any time.

This approach gives you the best of both worlds: the power of AI-generated diligence intelligence combined with the collaborative flexibility your team needs to work the way you already do.

The Next Step in Diligence Automation

Insight Boards represent the biggest leap forward in automating M&A diligence. By combining AI-powered diligence intelligence with collaborative flexibility, we’ve created a platform that does not just extract data but actually thinks like a diligence team. Approved insights become the building blocks of your final deal memo, and the result is faster reviews, deeper intelligence, and reports that write themselves as you work.