Why it is needed
AI & IDP plays an essential role in automating contract processing. Contracts contain legal obligations and drive business opportunities & growth. Therefore, there is a need for enhanced agility, compliance, and responsiveness in the contract processing workflows. Through intelligent data capture and extraction, organizations can transform incoming documents/contracts into actionable data and benefits for legal and contracts management professionals.
Contract Intelligence powered by AI
Kanverse offers a powerful solution for extracting and classifying essential information. Kanverse helps process scanned contracts and images, list down the key data points from the contracts, provides a structured format. Kanverse leverages natural language understanding (ML, NLP, and smart OCR) to quickly analyze relevant information from large quantities of contracts and with an accuracy that is difficult to achieve at scale with manual labor.
- Auto classification of contracts
- Auto detection of clauses and legal provisions
- Semantic understanding of contracts like human would