Reducing Time Spent On Contract Reviews By 85% - Elior Case Study
Due to COVID-19 impacts in March 2020, Elior’s legal team needed to understand several key provisions in their contracts. Using Summize, they were able to provide the business with advice on how to proceed with a new adaptive approach.
- Over 400 contract reviews completed in 5 working days – an 85% reduction in time
- The platform was cost-effective – contract reviews were completed at a third of the usual cost
- Implementation finished in one working day
Elior is one of the leading contract caterers in the United Kingdom; working across a broad range of sectors including stadia, healthcare, education, and the public sector. With over 10,000 employees, numerous suppliers and several variations of clients, there are many contracts in place throughout the company.
Elior’s legal team needed to complete a manual review of over 400 contracts. This typically would have taken around six weeks to complete. This time-scale would have been costly for the business, both in time and hired external resource. Additionally, as the task was urgent and required completion by the end of the month, six weeks would not have met the needs of the company.
Providing the solution with Summize
Summize instantly creates contract summaries. The intelligent software behind the scenes highlights important clauses and key information, making it quicker and easier to find. The platform also caters to any unique contract requirements with the Clause Builder functionality. Using this tool, users can add unique and uncommon clauses to the system and Summize will highlight them across every relevant summary. It therefore caters to any kind of bespoke contract.
With these features, Elior’s legal team were able to carry out reviews of over 400 contracts, many of them unique to the business, within 5 working days – an approximate 85% reduction in time. This was also performed at a third of the cost, with a further 12 months of the software included on the account per user for future contract reviews.
Due to the easy-to-use functionalities, Summize does not require any formal training to get started, and no prior uploads or AI analysis are required. The system integration was also performed within one business day, allowing Elior to complete the review by the target date. This efficiency means that legal teams can start generating summaries of their contracts straight away.
Throughout the process, Summize provides regular assistance to its clients, meaning that any queries that occur can be answered immediately. The team is always open to feedback and wants to provide the best experience possible for its users.
“The integration was really easy, and Tom was always on hand to support the team and me.
The tool is self-explanatory, and the key benefit for us as an in-house legal team is that we can build our own unique clause wording in the clause builder functionality. This ensures the system will pick up all of our important clauses – not only from contracts based on our precedents but also in bespoke contracts. We can also add more clauses to the clause builder functionality for future reviews on other subjects; building a complete picture of risks and benefits within the entire contract.
Being able to export the data into Excel and only report on particular aspects of the contract is really useful when it comes to preparing reports for the Board.
It is definitely a tool which we will use regularly as it gives us a cost-effective, efficient way to quickly due diligence our contract portfolio using lawyers and paralegals in the in-house team with industry-specific knowledge, as opposed to outsourcing to a third party.“
Joanna Luke, Legal & Compliance Director