Contract Analyzer

Through use of Natural Language Processing, the tool identifies and extracts data in various languages from multiple types of documents in a fast and efficient manner. The solution is able to understand the context of documents in order to identify specific elements from texts and tables. Using smart algorithms, the tooling is able to turn unstructured text data into structured data, allowing for a myriad of possibilities in data analytics and automation.

Immediate results
Completely auditable and rapportable
Cost savings compared to manual work
Put your focus on value-added work
Improved data quality

Description

The tooling analysis one of more documents and enables the user to:

Turn documents (PDF, word or image) into structured data with direct links to the specific location in the documents
Analyse scanned documents through integrated Optical Character Recognition
Execute validation and plausibility checks to increase the certainty about the results

Execute the tooling both in the cloud and on-premise
Easily scale to multiple languages and document types with a minimal amount of training and investment
Include your own calculations or workflows through the API-connections
Easily integrate with other systems and solutions through standardised in- and output

Challenge 1: Contract Management

For every legal department within a large organisation the management of immense amounts of contracts is a significant challenge. Extracting the required information from all of the PDFs by hand is a tough job. Part of what makes it hard is that the information is not in a database but rather in paper documents - so searching for a name or a clause is impossible. It is however not too late to get started on digitisation!

Challenge 2: IBOR Transition

One of the biggest challenges for financial institutions over the next years will be the IBOR-transition. In order to determine the exact impact of the transition on individual customers and contracts, all affected contracts need to be identified and classified with all relevant information into a structured format. This will be a significant task for most institutions, especially because more information is needed than is typically available in systems (e.g. Fallback clauses, early-termination provisions)