We can run your contract remediation and repapering projects from start to finish, using our global network of lawyers, best in class technology and service delivery centres to ensure we balance quality with cost considerations.
Whether it’s in response to regulatory changes, a change in internal policies and procedures, or just to get your “house in order”, large scale reviews of your contract portfolio can be a burdensome and expensive undertaking. And once the review is complete, there’s often more to be done; contracts may need to be repapered, novated, negotiated, terminated and so on.
We can deploy a multi-disciplinary team of lawyers, technologists and project managers to run your contract remediation projects from start to finish, using best in class technology and service delivery centres to ensure we balance quality with cost considerations. Our large network means that we can do this for you across the globe and in many languages and provide you rich data at each stage of the process.
Our client, a large international bank, was required to undertake a large review of their contracts to ensure they were in compliance with recent changes in regulation. Having over 10,000 contracts, some of which were 200 pages in length, this project was expected to be extremely resource intensive. Adding to this burden, this new regulation required our client to ensure contract compliance within a short timeframe.
Using a combination of AI and machine learning techniques we designed and automated the process of digitisation and extraction of key terms and clauses from their contracts. We then automatically compared these clauses against the new regulation to flag clauses that were not in compliance. We then used our Contract Management Platform to automatically create new, compliant contracts.
Reduction of contract review & regeneration from average 3 hours to minutes 70% cost savings per contract.