ktMINE’s all-new Benchmark App is here and the launch brought Brett Schoell, Product Lead, to reminisce on the journey. Like a parent getting ready to send their child to school for the first time, I’m nervous and excited for the future. Countless hours were spent at ktMINE discussing new features, views, and data for the ktMINE Benchmark App. The discussions during the development process were influenced by all of our client interactions.
For the ktMINE Benchmark App to become a reality, we met with transfer pricing, valuation, legal, technology transfer professionals, and other industry experts for valuable feedback. We also leveraged our Customer Success team to identify areas of opportunity based on interactions with current users.
For me, this is the most exciting part of such a collaborative process. In the beginning, we knew we were building a product to compete with ourselves, as no other provider in the market has the quantity of data or quality of analytics found in ktMINE’s applications. So it only made sense for our clients to be the vehicle that drove the ktMINE Benchmark App forward.
Following these discussions, we identified three key focus areas:
- Improving the categorization of the data
- Adding new analytical tools
- Increasing the exporting capabilities available
Improved Data Categorizations
A major focus of the ktMINE Benchmark App was to include additional data categorizations to help minimize research time. Enhanced category types (transaction, IP, and entity), payment data enhancements, and refined entity search filters are a few of the notable changes that help to expedite research. Users can leverage transaction types to confidently search within a predefined set of documents to examine specific transactions.
IP types allow users to quickly search agreements and identify specific IP types of interests, thus returning more accurate search results.
Entity types have reimagined what is possible when searching for specific entities. This filter provides the ability to search entities based on name, type, role, location, or any combination.
Lastly, we added payment type filters to quickly refine searches to specific payment types and add your own rates.
In a nutshell, the reason we added or enhanced these category types was to create additional options for our customers that would streamline their research with concise results all in one place.
New Analytical Tools
Alongside data, we wanted to ensure the new features and functionalities of the ktMINE Benchmark App changed our customers’ overall research experience. ktMINE’s UI design experts developed new features for our users to include:
- The addition of a project management system
- A more robust analysis center
- Paragraph tool for full-text research
When we began the development of the ktMINE Benchmark App’s project center, our main focus was the ease of use and driving collaboration among teams. Now, users can create a project and track the overall progress while adding comments to specific agreements. A central location for all project activities helps to align research and ensure accurate analyses.
The ktMINE Benchmark App also expands how users can perform analyses by providing different views in the analysis center. Table view provides a quick snapshot for initial reviews highlighting the transaction type, filing date, entity, IP type, and more.
Profile view gives users access to full profiles for a more detailed agreement analysis which includes the agreement summary, terms, transaction details, and more.
The ktMINE Benchmark App’s analytics view provides robust analytics for visual search results filtered by desired categories.
Perhaps one of the most exciting features of the analyst tool upgrades would have to be paragraph view. Dissect agreements by searching full-text agreements by keywords to reveal clauses of interest.
Increased Exporting Capabilities
Last but not least, was the addition of several new exports to provide new ways for users to extract data. To address these varied needs, we went from two exports up to eight. Some of these new exports include the ability to export all of the analytics, a light export designed to extract larger sums of data, and even the ability to export our new paragraph tool.
The ktMINE Benchmark App is designed to address current market challenges while elevating the benchmarking process by empowering users, creating new opportunities, and providing greater research efficiencies. Delivering the ktMINE Benchmark App to our customers after they gave us so much insight and feedback is truly exciting. We are already hard at work on future enhancements and new applications – stay tuned for the latest innovations from ktMINE.