There is often a gap between what’s promised in a contract and what’s delivered. This gap stems from manual error, forgotten or lost contracts and lack of visibility when it comes to supplier trends or risks. Frustratingly or indeed luckily (however you choose to look at it) this value gap is almost entirely avoidable!
This case study talks through how AI is revolutionizing the world of contract analysis, it shares how organizations are:
- Using AI/ML to accurately extract terms and clauses of procurement contracts for better execution and tracking
- Able to reduce research effort by 90% as contracts are digitalized and searchable
- Reducing contract cycle time by 60% whilst reducing manual efforts
- Building a digital knowledge base that can vastly improve the value shared services can offer their organization
- Strengthening their negotiation skills via contract analysis