Procurement: 70% Faster Agreement Signing for the Construction Company
With BestCompliance.AI, the construction company accelerated its Procurement agreement signing by 70%.
70%
Faster Agreement Signing
5m
For Preliminary Compliance Check
2-6h
Saved Per Agreement
Overview
BestCompliance.AI allows companies to conduct preliminary checks of their contracts for policy violations within minutes without compliance officers' assistance.
This case study shows how the construction company has accelerated its agreement signing at almost 70% due to AI, eliminating procurement downtime.
Problem Statement
- The Procurement team had to get approval from the Compliance Department on each agreement.
- They have to wait up to 5 business days for feedback on each stage of the signing process.
- Due to several iterations, signing each agreement could take weeks.
Solution: BestCompliance.AI automates document review for policy violations
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The Compliance Officer uploads the needed policy into BestCompliance.AI in minutes.
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The Procurement Specialist reviews the agreement draft with BestCompliance.ai.
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AI analyzes the document in minutes, detecting if there are any violations of the uploaded policy.
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If violations are found, you can download them as a PDF report for further processing.
This video showcases how a Compliance Officer uploads a policy into BestCompliance.AI:
This video showcases how a Procurement Specialist reviews the agreement for compliance violations:
Results
- The preliminary check of each agreement now takes 5 minutes instead of 3-5 business days.
- Compliance Officers are only involved in the final stage, saving 2 to 6 hours per agreement proofreading.
- BestAgreement.ai accelerated the process of signing procurement agreements by 70%.
Time Spent on Agreement review
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With Manual Check: up to 5 days and 2 to 3 iterations
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With BestCompliance.AI: 3 to 5 minutes
Conclusion
BestCompliance.AI significantly accelerates the Procurement while maintaining accuracy in Compliance.
It's a game changer for enterprises dealing with dozens of agreements every month, accelerating Procurement for improved business results.
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