Business Challenge
- The customer has 14,000 + legacy documents making it difficult to read and report on agreed upon terms
- Contract admins had to spend hours to identify specific clauses
- The business moved to a new form of reporting on contracts where metrics were missing from legacy contracts
Solution Provided
- Implemented Contract Classification utility to classify the documents and segregate into different categories like MSA, SOW, SA, and NDA, etc..
- Executed OCR tool to convert PDF image format documents into Searchable PDF documents
- Used, Smart Contract Analytics tool to further process the pdf and extract new Metadata as needed for newly defined KPIs.
Benefits to client
- Saved time in document classification and further helped in making the image pdf into a searchable pdf
- Able to extract a lot of important Metadata with 80% accuracy
- Generated and stored key clauses into CLM Repository for improved reportability and audit needs
