OCR for structured processing of contracts and documents
A services company with a large volume of contracts and documents uses OCR to extract key data automatically and turn it into structured, searchable information.
Context
A services company with a large volume of contracts and documents that had to be read, checked and used by several team members.
The problem
Contracts were read manually, and key data was extracted by hand. The information existed but was hard to use systematically, because it was not organised in a structured, searchable form.
The intervention
OCR was applied to read contracts and documents automatically and extract a set of selected key fields. The data is organised in a structured format and becomes easy to search.
The key data in each contract becomes structured data the team can search and compare.
The result
Manual contract processing went down, and key data is now available in a structured form that is easier to search and check.
What changed day to day
Management and the team have organised access to contract information and rely less on reading every document by hand.
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