Key Highlights
- Our project implemented a GenAI-powered CLM system to automate contract processes, streamline operations, ensure compliance, and optimize vendor relationships.
- The client Struggled with manual contract management, scattered contract data hindering decision-making, and compliance issues due to fragmented data and manual processes.
- We implemented GenAI for automated querying, document parsing, and centralized storage, facilitating streamlined contract management and quick access to critical information.
- Our client benefited with reduced labor costs and improved contract management, centralized storage, and automated compliance, optimizing decision-making and vendor strategies.
Problem Statement
01
Contract Management Inefficiencies: Client faces challenges in managing contracts manually, seeks automation for efficiency and accuracy, and desires centralized storage for better access.
02
Data Fragmentation: Client struggles with scattered contract data, hindering decision-making and strategic insights, needs consolidation for optimized vendor negotiations.
03
Compliance Challenges: Client deals with compliance issues from manual processes and fragmented data, seeks automated solutions for better regulatory adherence and risk mitigation.
Solution Overview
01
Implemented Gen AI for querying document details in natural language, facilitating instant access to critical terms, obligations, deadlines, and assisting in response drafting and risk assessment.
02
Leveraging cutting-edge document parsing, centralized storage minimized manual effort and errors, while facilitating quick access to vital contract information.
03
GenAI-driven CLM enabled informed decision-making by consolidating scattered contract data, offering comprehensive insights for risk assessment and strategic planning.
04
Through continuous monitoring and data-driven analytics, we identified cost-saving opportunities, optimized vendor relationships, and maximized procurement outcomes.
05
Utilizing GenAI, we ensured compliance with regulations, mitigated risks associated with manual processes, fostered trust & safeguarded the company's reputation.
Business Impact
ABOUT THE
Project
The project implemented GenAI CLM, leveraging advanced NLP and machine learning to streamline contract reviews and automate renewals, significantly reducing labor costs and errors. Centralized storage and document parsing provided quick access to critical contract information, enhancing visibility and vendor management. GenAI’s data consolidation offered insights for risk assessment and strategic planning, optimizing vendor negotiations and identifying cost-saving opportunities. Continuous monitoring and analytics maximized procurement outcomes, ensuring robust compliance and mitigating risks, delivering enhanced operational efficiency and strategic value.
Tech Stack
Testimonials of Our Happy Clients
Ken Kisner
Global Head of Digital R&D
My experience has been incredibly positive. They were incredibly easy to work with, even with changing requirements.
They are incredibly competitive, but are only a fraction of the cost of US companies.
They are definitely the most professional of the foreign companies that we were looking into.
Nyswyn K.
Director of Software Development
Our journey with OptiSol has been nothing short of remarkable. For over 7 years, we have partnered with them on our digital transformation, and the results have been truly transformative.
Over the years, we have come to trust OptiSol Business Solutions as a reliable and strategic partner.
Al Bagiro
CTO, Auto Insurance Company
The AI engine was completed on time and trained to 90% accuracy. Their eagerness to learn new knowledge impressed us.
Their team is large to handle multiple projects at once, and likes to resolve challenges as well as learn new things. They also welcome regular communications, and of course, needless to say, develop everything in sprints.
Dan Talken
Founder, CEO, & CTO, My Equipment Library, LLC
OptiSol Business Solutions has shown youthful skill and dedication to the projects. Moreover, they have been quick to implement their solutions without sacrificing the quality of each platform.
We’re constantly impressed with their speed and quality of the development that they achieve on a consistent basis.
Dr. A.K Pradeep
CEO MachineVantage
Exceptional Collaboration and Expertise - A Top-Notch Partner for AI, ML, and Digital Applications.
I have had the privilege of working with an exceptional team of professionals from India on numerous AI, ML, and digital application projects. Their expertise in these domains is remarkable, and they consistently impressed us with their knowledge, resources, and innovative approach.
Rick Tigges
CFO, Bemodo
They are very responsive and able to shift focus quickly as we have needed it for business reasons.
OptiSol Business Solutions has been great at documenting the timeline of the project. They were very responsive and were able to shift focus quickly, as well. They discuss what they’re working on without any issues. So far, there’s no need to improve their service.
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