• Financial Services
  • Professional Services
  • Intapp DealCloud

How AI data summarization helps your team work faster and smarter 

AI is everywhere. News feeds are flooded with articles and commentary about how it’s transforming the workplace by helping teams work faster and smarter.  

Most firm leaders are eager to reap the benefits they keep reading about — but they don’t know which AI tools would be most beneficial for their teams.  

Research indicates that AI data summarization tools are a good place to start. A recent survey reveals that 76% of professionals at partner-led firms are interested in using AI-generated summaries to distill key information. Those surveyed estimate that AI data summarization would save them up to six hours of manual work each week.  

Keep reading to learn how Intapp Assist for DealCloud’s summarization feature cuts through the clutter to give your professionals critical insights and a competitive advantage. 

An overview of AI data summarization

Intapp Assist’s AI-powered data summarization feature improves productivity and enhances decision-making by using AI to identify important insights within large volumes of information. These insights are presented in concise summaries that appear on deal, meeting, contact, company, and other profile pages (also known as detail pages) within Intapp DealCloud

Detail page summaries are created using proprietary data from DealCloud and information from Intapp Data, which is collected from publicly available sources including LinkedIn and corporate websites.  

Additionally, for firms that take advantage of optional DealCloud data integrations, summaries also include intelligence from third-party providers like Equilar, Preqin, and Pitchbook. That means professionals don’t have to spend their time manually entering the data to feed the summaries, since it’s added to DealCloud records automatically. 

DealCloud users can also customize summaries by editing their content as well as the data sources used to create them.  

Summary types and benefits 

Intapp Assist can create summaries for any type of DealCloud profile page. Here’s a breakdown of the four types that are used most often and the benefits they provide for your team. 

Meeting summaries

Documenting meeting highlights and action items can be tedious. Transcripts are helpful, but parsing out the key points typically requires professionals to wade through pages upon pages of dialogue. 

Meeting summaries eliminate all this manual work by providing professionals with a concise description of who attended and what transpired. Action items are clearly listed so nothing falls through the cracks.

Deal summaries

Analysts, associates, and other team members can attest to how tedious and inefficient it is to provide deal updates. They either have to spend valuable time creating summaries manually in an internal system, or field ad hoc update requests from various stakeholders.  

What do these methods have in common? They both require professionals to scour systems for the most current information. 

Intapp Assist saves your professionals from this time-consuming hassle by automatically generating summaries featuring deal stage, recent activities, deal source, and other key information. This frees team members to focus on higher-value work, and allows stakeholders to get the latest updates on demand. Changes are also updated automatically, so teams never have to worry about whether they’re viewing the most current information. 

Company summaries

Company summaries are another key time saver. They help your professionals optimize their business development strategies and build more productive relationships by providing insights into deals, prior interactions, and account details.  

For example, a private equity professional viewing the company summary for an investment bank may see that the bank has brought the firm a lot of deals — but that the firm passed on every single one. This professional immediately knows that to turn this into a profitable relationship, they need to provide the bank with very specific details on the types of opportunities the firm wants to receive.  

Company summaries also include intelligence from Intapp Data and integrated third-party feeds — so teams stay informed about acquisitions, funding, and other important updates. 

Company summaries keep teams information with account details and important updates

Contact summaries 

Contact summaries provide additional support by simplifying meeting preparation. They share key insights from proprietary data including recent interactions, along with information such as board memberships and previous employers collected from integrated third-party data. Professionals can also use insights from prior communications to identify optimal talking points that support more productive conversations with their contacts.  

These summaries help your professionals create stronger connections with their contacts, both online and in person — a key “Activator” behavior. As demonstrated in recent research on the most successful business-development behaviors, the Activator approach to business development increases the average partner-led firm’s revenue by up to 32%. 

Contact summaries simplify meeting preparation with insights about recent interactions

Stay a step ahead with summaries

Manually poring through volumes of data to uncover essential information isn’t just inefficient and tedious. In a world where the firm with the right information at the right time usually wins, it isn’t even an option. 

With Intapp Assist’s summary feature, your teams have instant access to the critical insights they need to work smarter, have more meaningful engagements, and stay a step ahead of the competition.  

Learn more about summaries and other Intapp Assist for DealCloud features that leverage AI to give you a competitive advantage.