Overview
The client manages large volumes of legal documents including MSAs, SOWs, Sales Orders, and addendums, each averaging 30 pages. Refering them for compliance requirements, Finance operations were taking time as this was manual in nature.
Business Challenge
The contract review process involved:
- Manual extraction and validation of contract clauses (Terms, Penalties, PO clauses, etc.)
- High dependency on human review, increasing compliance risk
- Processing 3000 documents across 93 contracting standards
- Significant effort and turnaround time for legal validation
The Solution
DExTr, an SLK (an Altimetrik company) document-intelligence solution, was used to automate contract review and compliance checks.
The solution enabled:
- Automatic extraction of key clauses such as payment terms, liabilities, confidentiality, and key dates
- Structuring of extracted data for validation and auditing
- End-to-end traceability back to source documents
This solution showcases how AI-led Document Intelligence and Compliance Automation capabilities can be applied to streamline large-scale contract review and compliance processes.
Business Outcomes
- 80% faster document extraction
- >90% reduction in processing time
- 95% accuracy and reduced cost
- ~50% reduction in headcount
Summary
A document-intelligence-driven approach automated contract review and compliance checks, significantly reducing processing time, improving accuracy, lowering operational costs, and minimizing compliance risks across large volumes of legal documents.
