Businesses have countless documents to keep track of. And organizing, maintaining and updating them can be a challenge, both from a volume and a manpower standpoint.
Intelligent document processing (IDP) tools are increasingly applied to process and analyze structured and semi-structured documents such as forms and invoices. This technology leverages such tools as computer vision, machine learning, natural language processing, and optical character recognition.
But when it comes to delving deeper into more complex documents and assessing and parsing their contents for consistency, clarity and errors, these systems can often be simplistic in nature.
Contract intelligence (CI) picks up where IDP leaves off. Using a branch of ML known as natural language understanding, CI provides meaningful insights from extracted data in more complicated contracts, agreements, and other business documents.
