AI Speeds Up Contract Review 10x, Achieves 98% Accuracy

A law firm streamlined complex contract review with an AI platform, achieving 98% accuracy, reducing review times by 10x, and mitigating legal risks and operational costs by 85%.
Client:
A prominent law firm specializing in complex commercial contracts, particularly within the insurance, finance, and intellectual property sectors.
Problem Statement:

Manual contract review bottlenecked the law firm, causing:
● Slow processing (weeks)
● Inconsistent quality
● Missed deadlines & financial risks

This jeopardized efficiency, accuracy, and client satisfaction.

Results:
☑️ Reduced contract review times by up to 10x
☑️ Achieved 98% accuracy in identifying key contract terms and potential risks
☑️ Reduced legal risks and operational costs by 85%
☑️ Enhanced client satisfaction with faster turnaround times and improved accuracy

AI Solution:

The law firm implemented bestAgreement.ai, an AI-powered contract review platform that revolutionized its contract analysis process:

● Automated initial review: Leveraging Advanced NLP and ML Algorithms, bestAgreement.ai automates the initial review of complex contracts. This process identifies key clauses, extracts critical information, and flags potential issues, streamlining the review process.
● Enhanced accuracy: The platform’s AI models consistently achieved 98% accuracy in identifying key contract terms and potential risks, minimizing human error, and ensuring comprehensive analysis.
● Streamlined workflow: The intuitive interface seamlessly integrated into the firm’s existing workflow, allowing lawyers to easily access flagged issues, collaborate on revisions, and delve deeper into specific clauses.

The AI-powered platform improves accuracy and minimizes risk, allowing lawyers to focus on the strategic aspects of contracts, leading to better client service and more efficient legal practice.

Industry: Legal Services
Vendor: bestAgreement.ai
Client: A corporate law firm