Use Case: Intelligent Contract Management

Direct Access to Contract Information With Intelligent Document Processing*

*anonymised Case Study

Overview

Acodis at a market-leading, Swiss-based and globally active diagnostics and pharmaceuticals provider.

This case study was published anonymously.

Task

The classification and axtraction of data from contracts by artificial intelligence

Scope

Over 8'000 documents and 80 data points

Services

OCR, classification & data extraction

"Acodis has perfectly matched OCR, data extraction and AI to our business documents. The result, their expertise and the collaboration convinced me and led to significant optimisations in the range of three FTEs per year.”

Head of Sales Office

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Starting Point

The sales office of a market-leading, Swiss-based and globally active diagnostics and pharmaceuticals provider manages an archive of customer contracts that contain valuable information on customer relationships and sales processes. The contracts were only stored as scanned images - and when ad hoc queries were made by sales staff, finding the required information proved to be time-consuming and laborious.

The company needed a fast, flexible and efficient solution to accurately read business documents. The metadata should be accessible through the company's own IT infrastructure and changes should be able to be made internally.

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Successful cooperation with a competent, reliable and innovative partner

"Competent advice and guidance on the introduction of a new innovative solution from proven specialists. Close support during the entire implementation period."

EF_Acodis

Executive Sponsor in Financial Services

Read the full review on G2.com

Our Approach

As an expert in the field of intelligent document processing, Acodis was commissioned with the project. In a first step, 8,000 documents were classified with the help of a machine-learning system to identify around 2,000 relevant contracts. Subsequently, the contracts were analysed and more than 80 data points were read out and processed in a structured manner. Examples of data points include start and end dates of the contract, customer information and financial framework conditions. In addition, the extent to which individual contracts deviate from the standard contracts was investigated.

Results

As an output, the market-leading, Swiss-based and globally active diagnostics and pharmaceutical provider has a contract database at its disposal, which contains not only the digitised contracts but also the processed contract content. Access to the information is convenient and independent of location via a web application using the company login.

New contracts can be added to the system quickly and easily by sending them to Acodis by e-mail and uploading them automatically from there.

In addition to an overall view, employees can now find all relevant information on the contracts at the touch of a button and can simultaneously view the relevant section in the corresponding document.

Thanks to a smooth integration into the existing systems, a scalable solution has been created that automates the entire contract process from signature to reporting, thus saving time and costs.

Customer Benefits

Simple Access to All Relevant Contract Data

Time Saving of Three Full-Time Positions per Year

Integrated in Business Processes

Outcome

The valuable information is now available to the diagnostics and pharmaceutical provider in a machine-readable format and new contracts can be added effortlessly. By integrating with the company's internal system, access to the metadata is quick and easy for employees and changes can be made independently of Acodis. The automation has saved the company a considerable amount of work, which would take up three full-time positions per year.

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