The Project: Closure of the Jelmoli Department Store

The Jelmoli department store in Zurich is owned by SPS. It offers a diverse range of international brands and many services on six floors. Due to changing consumer habits and the growth of online retailing, SPS has decided to close and transform the department store in its current form. In this context, it is necessary to review all existing contractual relationships and adjust them if necessary.

General Conditions

• Project start: 08.09.2023
• Goal: Complete contract amendments by the deadline of 24.11.2023
• Challenge: Identification of relevant contracts and extraction of contract data points for more than 1,000 unstructured contract documents
• Requirements: Development of a cost- and time-efficient workflow for document analysis and contract adjustment letters with the highest quality standards

Project Process

1. Extraction of Data Points

Legartis AI analyzes all contract documents, recognizes the relevant contract data and extracts the data points that are relevant to the project.

2. Validation with Test Sets

Legartis uses various validation procedures to check whether the data points obtained meet the requirements. Legartis uses a test pipeline with evaluation mechanisms for this purpose.

3. Validation by SPS

SPS checks the quality of the data extracted by the AI into an Excel list.

4. Creation of Contract Adjustments

The data supplied by the AI is automatically imported into prepared contract adjustment letters.

Result

The AI-supported contract analysis identifies the relevant contracts and contract contents from the more than 1,000 contract documents and informs the contracting parties by the deadline of 24.11.2023. All contract adjustment letters are sent out without errors.

"Thanks to the use of Legartis, we were able to complete the complex contract adjustment process in high quality at comparatively low cost. Legartis AI met our expectations and showed what this technology can achieve: high precision and speed in a complex process."

— Jürg Sommer, General Counsel, Swiss Prime Site

There is no negative feedback on the formalities of the contract adjustments — neither from contractual partners nor from internal stakeholders. Within SPS, the professionalism and efficiency of the processing is positively emphasized.

The Jelmoli project impressively demonstrates how powerful highly specialized artificial intelligence can be for a clearly defined task like this — and that companies should also take full advantage of contract analysis in the post-signing phase if they want fast, precise results.