As the world is rapidly digitizing, data has become a critical component of almost all companies. Despite the shift towards digital, there are still many scans and PDF documents that lack accessibility and knowledge. In particular, contracts can be complex due to the interlocking of documents and the variety of addendums, making it challenging to gather the necessary information from them in a reasonable amount of time. The lack of time for employees to double-check information can also lead to incorrect information being disseminated. With contracts that have 300 pages and 12 addendums, finding the necessary information within seconds can be nearly impossible.
Intellegam has developed an innovative method of contract selection by combining Optical Character Recognition (OCR) and various NLP layers. This enables the reading, digitization and querying of contracts, making the process of gathering information from them much more efficient and accurate. The integration of these technologies has reduced the time it takes to review a contract from hours to just seconds, allowing for a more thorough and error-free process.
This solution has been found to reduce the workload by up to 90%, and provides a more precise and thorough process of task completion compared to manual methods. The integration of OCR and NLP technologies ensures that contracts can be processed in a matter of minutes, as opposed to hours or even days, with higher accuracy and detail. The ability to quickly and easily access information within contracts reduces the risk of errors and miscommunication, making it a crucial tool for companies in the legal, financial and insurance industries.
Revolutionizing Contract Processing with Intellegam's OCR and NLP Solution
This solution is highly relevant for the legal, financial and insurance industries where contract processing and management are a daily task. By streamlining the process of contract review and analysis, companies in these industries can save valuable time and resources, enabling them to focus on their core business objectives. The ability to quickly and accurately access information within contracts not only reduces the risk of errors but also improves the overall efficiency and productivity of these organizations.