Locations
Client: Leading North American medical devices manufacturing company
Industry: Healthcare and Life Sciences
Solutions Provided:
- Standalone model using Google Gen App Builder
- Automated generation of supplier agreements leveraging structured prompts
- General question answering within agreements
Key Technologies: Python, GCP Search & Conversation, Text Bison (LLM), BigQuery, GCS Bucket, Dialogflow
Target Audience: CXOs, Directors, VPs, General Managers
Background:
The client aimed to reduce costs and improve adherence to policies in their supplier agreement and contract management processes.
Challenge:
The primary challenge was to minimize the time and expense associated with contract management while enhancing accuracy and compliance with policies.
Solution:
Wipro, in collaboration with Google Cloud, developed a prototype based on Google Generative AI (GenAI). The solution featured a standalone model capable of searching and displaying specific clauses from a set of contract documents and generating contract documents in plain text. Additionally, the model provided crisp summaries of Statements of Work (SOWs), generated supplier agreements, and answered general questions within the agreements.
Results:
The implementation of this solution resulted in:
- Reduced Time: Significant reduction in the time required to generate contracts and locate specific clauses.
- Increased Accuracy: Enhanced accuracy in contract management, ensuring better adherence to company policies.
- Cost Efficiency: Lowered costs associated with contract management processes.
Conclusion:
The collaboration between the medical devices company, Google Cloud, and Wipro led to a highly effective solution that significantly improved the efficiency and accuracy of the client’s contract management. The integration of advanced AI and machine learning technologies played a crucial role in achieving these outcomes. This case study highlights the transformative potential of such technologies in optimizing business operations.
