Provision

Provision's Overview

Provision is a cutting-edge B2B company based in Toronto, Ontario, Canada. Operating within the infrastructure sub-industry, the company specializes in contract analysis for the construction sector. By leveraging advanced technology, Provision aims to streamline the process of document and revision management, thereby saving time and reducing the costs associated with future mistakes. A part of Y-Combinator's Summer 2022 batch, Provision is making significant strides in the North American construction market, particularly in Canada. Despite its small team size of just four members, the company has managed to make a substantial impact by offering a robust platform that identifies and mitigates risks in construction projects.

Provision's Platform Features

Provision offers a comprehensive contract analysis platform tailored for the construction industry. Users can upload project documents and instantly see associated risks, thanks to the platform's automated checklists. These checklists are designed to extract necessary answers based on the project's lifecycle stage, making it easier to identify potential issues before they become problematic. The platform serves as a co-pilot, guiding users past irrelevant sections and helping them focus on crucial aspects of their project documents. Additionally, it provides real-time risk identification to ensure that no potential issues are overlooked before bid submission. Provision's platform has been rigorously tested on both multi-billion dollar P3s and smaller projects, ensuring its reliability and accuracy.

Provision's Security and Compliance

In an industry where data protection is paramount, Provision has achieved SOC2 certification, ensuring that all data—both in transit and at rest—is securely protected. This certification underscores the company's commitment to maintaining the highest standards of data security and integrity. With a focus on high accuracy in its intelligence, Provision ensures that the information extracted and organized by its platform is both reliable and actionable. This dedication to security and accuracy makes Provision a trusted partner for construction firms looking to mitigate risks and streamline their document management processes.

Provision's Impact and Achievements

Since its inception, Provision has reviewed projects worth $2 billion on its platform, demonstrating its capability and reliability in handling high-stakes construction projects. The company claims to retain $20,000 in profits per project for its users by ensuring that potential risks are identified and mitigated early in the project lifecycle. This impressive track record not only highlights the platform's efficiency but also its effectiveness in delivering tangible financial benefits to its users. By focusing on crucial stages such as 'Go / No Go', 'Project Review', and 'Contract Review', Provision helps construction firms navigate complex project requirements and avoid costly mistakes.