Revolutionizing Contract Management: How AI Delivered Strategic Value for a Leading Retail Company

1. Challenge

Navigating Complexity in Contract Management

A leading e-commerce company faced significant challenges in managing over 10,000 contracts across three countries. Limited resources hindered their ability to review contracts effectively, identify compliance risks, and ensure timely renewals.

Key obstacles included:

• Ineffective use of traditional purchasing systems to automate processes.
• Missed opportunities in addressing regulatory compliance and contract renewals.
• Fragmented storage of contracts across SAP systems, shared drives, and other platforms.

These issues created bottlenecks that prevented the company from efficiently scaling its procurement operations.

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2. Solution

Deploying AI for Smarter Contract Oversight

To overcome these challenges, we implemented a proof of concept (POC) using an AI-powered Contract Intelligence Agent on a subset of 1,000 contracts. This initiative included:

• Extracting both structured and unstructured data to build a robust knowledge base, insights database, and compliance monitoring tools.
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• Evaluating supplier risk using a custom framework tailored to the company's specific requirements.
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• Developing a user-friendly interface to simplify interactions with the AI agent.
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• Scaling the POC into a full production solution to enhance visibility and automation across all contracts.

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3. Impact

Transformative Results with AI

The deployment of AI-powered solutions transformed the company's contract management processes, delivering tangible results:

• 100% Contract Visibility: The AI agent ensured comprehensive access and management of both structured and unstructured data.
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• +25% Actionable Insights: Enhanced visibility revealed contracts that required updates, renewals, or compliance measures, enabling proactive management.

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4. Our Approach

Innovating with AI for Business Excellence

This case exemplifies AICONIC’s commitment to crafting innovative, AI-driven strategies that address immediate business challenges while unlocking scalable growth opportunities. By integrating advanced technology with deep industry expertise, we empowered the client to streamline procurement operations and reduce compliance risks.

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5. Looking Ahead

Future-Ready Contract Management

With AICONIC’s tailored AI solutions, the client is equipped to sustain growth through data-driven decision-making. Connected processes and enhanced operational agility have created a strong foundation for maintaining operational excellence. As market dynamics evolve, the client is well-prepared to adapt, innovate, and thrive in a competitive landscape.