Extraction of Unstructured Text from Contracts
Nature of implementation
Imaging & Text Solutions
Nature of organization
Information Extraction and Workflow Automation
Deep Learning, Natural Language Processing, Image Analytics, Data Science
Background & Case
The client had text data arriving in unstructured formats from which parsed, clean and linked data was required to be extracted. Generally arriving as contractual documents, key information extraction and documentation becomes highly time and effort intensive work when done manually.
Using deep learning and NLP approaches, we were successfully able to extract key information like supplier name, customer name, effective date of contract, end date etc.The solution was deployed on the client system.
Value & Impact
The solution saved numerous hours of manual labor in time and efforts thereby streamlining contracts review, renewal and negotiation process along with improving accessibility of key information across the client system.
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