Improving Contract Accuracy and Speed for a Major Financial Institution in Saudi Arabia
In the competitive landscape of the Saudi Arabian banking and financial services sector, speed and compliance are the twin pillars of success. For a prominent regional financial institution, the growing volume of loan agreements, vendor contracts, and employment documentation had reached a critical point. As operations expanded across Riyadh, Jeddah, and the Eastern Province, the legal team found itself overwhelmed by contract-heavy processes and increasing regulatory expectations.
The Challenge: Manual Bottlenecks and Compliance Risks
The organization relied heavily on traditional, manual contract drafting and approval processes. Legal teams spent a significant portion of their time manually editing templates, cross-checking regulatory requirements issued by the Saudi Central Bank (SAMA), and coordinating physical signatures across branches.
This approach resulted in several business challenges:
- Slow Turnaround Times: Contract execution often took several days or weeks, delaying key business initiatives and customer onboarding.
- Version Control Issues: Managing multiple contract revisions through email increased the risk of outdated or unauthorized clauses.
- Regulatory Exposure: Without a centralized digital audit trail, compliance reviews and regulatory audits were time-consuming and high-risk.
- Rising Operational Costs: Printing, courier services, and excessive administrative effort significantly increased legal operating expenses.
Seeking a Digital Transformation
Recognizing that manual processes were no longer sustainable, leadership initiated a shift toward digital legal operations. The objective was to standardize contractual language while retaining flexibility for diverse financial products and Shariah-compliant requirements.
The institution aimed to enable business teams to generate compliant contracts within approved parameters, allowing senior legal counsel to focus on strategic advisory and regulatory oversight.
This shift marked a move from static contract handling to treating contracts as structured, measurable digital assets.
The Solution: Smart Legal Contract by Beveron Technologies
The transformation was driven by the implementation of Smart Legal Contract, a robust contract automation software designed for enterprise legal teams.
Using Smart Legal Contract, the institution converted complex legal templates into intelligent, guided questionnaires. The platform centralized all contracts into a secure repository, enabling real-time tracking, automated approvals, and digital execution—eliminating manual follow-ups and physical document handling.
The Outcome: Measurable Business Results
The adoption of Beveron Technologies’ solution delivered immediate and measurable impact:
- 75% Faster Contract Creation: Contract drafting time was reduced from days to minutes using automated, pre-approved templates.
- Stronger Compliance Control: A complete digital audit trail ensured every contract aligned with internal governance and Saudi regulatory requirements.
- Operational Cost Reduction: Lower printing, courier, and administrative costs resulted in significant savings within the first six months.
- Improved Stakeholder Experience: Internal teams and external partners benefited from faster, more transparent contract workflows.
Conclusion
Through the strategic adoption of Smart Legal Contract, this leading financial institution in Saudi Arabia successfully modernized its contract management processes. What was once a legal bottleneck is now a streamlined, compliant, and scalable contract operation—supporting growth, regulatory confidence, and long-term operational excellence.
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