Apttus Launches Machine-Learning-Powered Solution For Contract Migration
- Written by Anna Spiewak
- Published in News Briefs
Apttus, a quote-to-cash software firm, has introduced a new machine-learning solution—Apttus Intelligent Import—which is said to automatically scan, load and analyze both physical and digital contracts to an Apttus Contract Management repository.
Intelligent Import is powered by Apttus’ Contract Management tool combined with technology from partner ABBYY, a global provider of document technologies, to make legacy contracts more accessible, thorough and relevant.
The solution combines several new capabilities for businesses or legal teams, including:
- OCR, which converts documents in different formats into machine-encoded text that can be analyzed;
- Classification, which identifies the type of contract or legal document;
- Segmentation, which breaks down each document into component parts;
- Extraction, which pulls specific components, facts and attributes from a contract or document;
- Validation, which confirms correct segmentation and extraction of contract contents; and
- Export, which transfers the data into a structure loaded into Apttus Contract Management.
“By applying proven e-discovery principles to the world of contracts with Apttus Intelligent Import, millions of data points can be identified, extracted and analyzed in a short amount of time,” said T. Jason Smith, Senior Director of Application Solutions at Apttus, in a statement. “These provide metrics by which you can measure performance, evaluate risk and proactively manage the relationships upon which your company’s success is built.”