Our client, a leading US-based Banking and Financial services company, has a historic load of around 25K+ procurement contracts and generates around 2K contracts each month globally. These contracts range from the master agreement and general services agreement to equipment maintenance and trade agreements, among others.
The client faced challenges in capturing insights from these global contracts, which used time-consuming manual efforts. Despite using OCR software for pre-processing, the client also faced quality issues in the documents data that was extracted.
Our client commissioned Nia Contracts Analysis to automate the analysis of historical contracts and new contracts. With its NLP, Computer Vision, and AI/ML capabilities, Nia Contracts Analysis quickly and accurately extracted terms and clauses of procurement contracts and determined the potentials risks of their contracts and suppliers.
Download the case study to learn how Nia Contracts Analysis helped the client achieve 90% accuracy in historical contract processing and a 10X increase in productivity.