Speeds Up Contract Reviews for Middle Eastern Construction Giant
Speeds Up Contract Reviews for Middle Eastern Construction Giant-
50%
reduction in contract review time
-
95%
accuracy in identifying key clauses and risks
-
20%
increase in legal team bandwidth
The Challenge
A major construction company in the Middle East, faced a growing bottleneck in their contract review process. Manual review of voluminous and complex construction contracts was time-consuming, prone to errors, and hindered project progress. The company needed a solution to accelerate review times, improve accuracy, and free up legal resources for higher-value tasks.
The Solution
They implemented elsAi, Optisol’s GenAI accelerator. elsAi was trained on a vast dataset of construction contracts, enabling it to
- Automatically extract key information like project details, parties involved, deadlines, and critical clauses.
- Identify potential risks and inconsistencies with pinpoint accuracy.
- Generate summaries and highlight areas requiring human review.
The Results
- 50%reduction in contract review time: elsAi pre-screened contracts, flagging potential issues for swift human review.
- 95%accuracy in identifying key clauses and risks: elsAi's deep understanding of construction contracts minimized human error.
- 20% increase in legal team bandwidth: Freed from tedious tasks, lawyers could focus on complex negotiations and strategic advice.
- Improved project efficiency: Faster contract approvals accelerated project timelines and reduced costs.
The Results
Beyond efficiency gains, elsAi provided Al Darwish with valuable insights
Identification of common contractual risks: The company used this information to renegotiate standard terms and improve future contracts.
Standardization of contract language: elsAi helped ensure consistency across contracts, reducing ambiguity and disputes.
