AI Drives GDPR and DPA Compliance Across 300+ Contracts

Oaktree Capital Management, burdened by scattered contracts and manual processes, adopted AI-powered contract management software. This solution centralized data, automated tasks, and provided actionable insights, enhancing efficiency, compliance, and overall contract management.

Client:

Oaktree Capital Management, a leading UK-based investment firm, manages a substantial $183 billion asset portfolio on behalf of its clients. Leveraging a vast global network, the firm oversees various contracts with external partners.

Problem Statement:

● Data fragmentation: Contracts were scattered across various repositories, making it difficult to find specific information.
● Manual processes: Time-consuming manual reviews and analysis of contracts.
● Regulatory compliance: Ensuring adherence to evolving regulations like the GDPR.
● Lack of visibility: Limited insights into contract performance and potential risks.

Results:

☑️ Instant contract insights: Real-time access to contract data.
☑️ Enhanced compliance: GDPR and DPA compliance for 300+ suppliers
☑️ Global standardization: Consistent contract processes across regions.
☑️ Improved efficiency: Automated workflows and data-driven optimization.
☑️ Time savings: Increased productivity for legal and procurement teams.

AI Solution:

To address these challenges, Oaktree partnered with Sirion to implement an AI-powered Contract Lifecycle Management (CLM) solution. This solution provided several key functionalities:

● Centralized repository: A unified platform to store all contracts, improving accessibility and search capabilities.
● Automated data extraction: AI algorithms were used to extract crucial metadata from new and existing contracts, saving significant time and effort.
● Clause library: A standardized repository of contract clauses, reducing reliance on external templates and promoting consistency.
● Visual analytics: Dashboards and visualizations provided clear insights into contract data, enabling better decision-making and risk assessment.
● Integrations: Seamless integration with existing systems and third-party risk management applications to enhance the overall solution.

Sirion’s AI-powered CLM solution provided Oaktree with a robust platform to manage its complex contract portfolio, improve efficiency, and mitigate risks.

Reference:

1. Oaktree Improves Compliance For 300+ Suppliers With Contract Data Extraction

Industry: Public body
Vendor: Sirion
Client: Oaktree Capital Management