Case Study: Leading US Banking and Financial Services Company achieves 10X procurement productivity with EdgeVerve AI Next Contract Analysis

How Document AI Contract Analysis helped the client achieve 90% accuracy in historical contract processing and a 10X increase in productivity

EdgeVerve worked with Leading US Banking and Financial Services Company, which managed a historic load of 25K+ procurement contracts and added ~2K new contracts monthly across multiple agreement types. The customer struggled to capture insights from these global contracts, relied on time‑consuming manual clause extraction and low‑quality OCR preprocessing, and faced elevated operational and supplier risks as a result.

EdgeVerve deployed its AI Next Contract Analysis platform to automate historical and incoming contract processing, using NLP, computer vision and ML to extract terms, compare language to templates, enable intent/entity/keyword search, and build a feedback‑driven knowledge base. The solution reduced research effort by about 90%, cut contract cycle time by 60%, achieved ~90% accuracy in historical contract processing, increased procurement productivity 10X, and provided risk profiling and improved negotiation support.