Case Study | February 18, 2021
Our client, a multi-billion dollar privately held professional services and consulting firm, acquired six companies in two years, leading to an internal audit and review of their contracts across all divisions and acquisitions.
In addition to understanding its thousands of divergent agreements, signatories, terms, and expiration dates, the company needed to better understand its safety and training requirements, insurance obligations, ability to use subcontractors, and what obligations were prescribed for assigned employees.
The client assumed it would need to manually pull each agreement and enter its information into a spreadsheet.
The client approached Cimplifi for assistance with hiring a group of contractors—instead, we suggested a Relativity integration: Heretik Contract Analysis. The software’s unique Al engine extracts and compares the exact provisions this client needed to analyze.
We loaded the contracts and in a matter of minutes, Heretik was able to examine, extract, and compare the provisions—something which would have taken a team of reviewers months to accomplish.
We not only saved the client tens of thousands of dollars, but they were able to immediately highlight near-expiration contracts in need of renewal, and ensure that the company’s standard business practices were appropriately aligned with obligations contained in contracts that governed the client relationship.