Our client, a company operating in a highly regulated industry, faced significant challenges with outdated contract records in their Document Management System (DMS). Ensuring compliance with terms, pricing, expiration dates, and validity requirements required substantial manual effort and frequent cross-referencing across documents and communications. These inefficiencies posed compliance risks, and also hindered the company's ability to manage contracts effectively, impacting supplier negotiations and operational audits.
The existing DMS often lacked up-to-date contract information, leading to incomplete or inaccurate records. This system limitation created vulnerabilities in regulatory compliance and operational efficiency, and required manual input for checking up and updating data, taking too much time and generating frequent errors. The inability to maintain accurate contract metadata further complicated cost control, supplier relationships, and the company's ability to perform comprehensive operational audits.
To address these issues, we implemented an AI-powered contract auditing solution. The AI agent automated the extraction, verification, and validation of contract details, including terms, pricing, expiration dates, and compliance criteria. It flagged discrepancies, identified expirations, and ensured compliance requirements were met.
By updating the DMS with accurate metadata in real-time, the AI eliminated manual intervention, reduced errors, and synchronized contract terms with operational needs.
Up-to-date contract metadata integrated with operational documents enabled comprehensive audits for better oversight and decision-making.
Continuous monitoring reduced compliance risks and prevented missed deadlines.
Automated auditing streamlined contract management, improving cost control and supplier negotiations.
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