Redefining Project Delivery with Construction Contract Management Solution

Key Highlights

  • OptiSol partnered with a construction company to address contract management inefficiencies using our Gen AI accelerator, which improved overall project efficiency & streamlined processes.
  • The client faced delays and errors due to complex contract management and inconsistent data. A lack of predictive insights further hindered effective risk management.
  • Our Gen AI accelerator streamlined data extraction, standardized terms, and translated data formats using predictive analytics and document summarization to enhance risk management.
  • The project improved project efficiency and on-time completion, enhanced risk mitigation through accurate forecasting and enabled better strategic planning and decision-making.

Problem Statement

01

Complexity in Managing Contracts: Managing numerous contracts for various projects, subcontractors, and suppliers led to significant administrative overhead and delays in contract approvals.

02

Inconsistent Contract Data: The client faced challenges with contract data that came in various formats and languages, resulting in miscommunications, errors, and potential legal disputes.

03

Lack of Predictive Analysis: The lack of real-time insights into contract performance and trends hindered their ability to proactively manage risks and forecast project outcomes.

Solution Overview

01

Our Gen AI accelerator efficiently extracted data from construction contracts and regulatory documents, reducing administrative overhead and speeding up the approval process for the client.

02

Our team used semantic analysis to standardize contract terms, specifications, and compliance requirements, ensuring consistency and reducing miscommunications across various projects.

03

Our accelerator seamlessly translated and standardized data from supplier and subcontractor contracts, regardless of format or language, minimizing errors and potential legal issues.

04

We utilized predictive analytics for real-time insights into contract performance, helping the client manage risks, optimize resource allocation, and forecast project timelines and costs.

05

Our Gen AI accelerator offered document summarization to uncover hidden trends and patterns in documents, enabling the client to gain deeper insights for better planning & decision-making.

Business Impact

01

Improved Project Efficiency:Streamlined data processing and standardized contract management enhanced project efficiency and on-time completion rates.
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Improved Project Efficiency

02

Enhanced Risk Mitigation: Real-time insights and predictive analytics enabled proactive risk management and accurate forecasting of project timelines and costs, driving optimization.
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Enhanced Risk Mitigation

03

Informed Strategic Planning: Document summarization and deeper insights into contract data led to better strategic planning and decision-making in construction management.
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Improved Decision Making

About The Project

OptiSol initiated the project to address delays and errors caused by contract management issues, inconsistent data, and lack of predictive insights. Our Gen AI accelerator streamlined data extraction, standardized terms, and translated diverse formats, reducing overhead and errors. Predictive analytics provided real-time insights for better risk management and forecasting, while document summarization improved planning. This led to enhanced project efficiency, risk mitigation, and strategic planning.

Tech Stack

Testimonials of Our Happy Clients

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