Managing the contract lifecycle is a burden. Extracting critical data points from contracts and getting them all into existing tools is laborious and time-intensive. Contracts need intelligent automation.
Unlock the business value
The business value in contracts is waiting to be unlocked. Get to that value faster. Our AI-driven intelligent document processing platform extracts all critical data points in just seconds.
Go beyond plain text
It's more than words on a page. Off-the-shelf OCRs cannot accurately recognize styles of handwriting and signatures. They struggle with additional clauses and values stuck in tables, too.
Optimize ROI
Hero Platform_ provides a variety of independent AI models requiring zero-to-very little training. Quickly prototype, deploy, and improve your ROI with AI tools that work.
Increase your bottom line with AI-powered contract management
Your contracts are more than just agreements and deal memos. Each contract can be an incredible vehicle for cutting costs and increasing profits — if your organization can invest enough time and energy to negotiate better rates and follow a systematic renewal process.
Benefits of Intelligent Contract Automation
Employees read through long paragraphs and then manually find relevant information to compare with other databases. But Hero Platform_’s next-gen IDP automates all of this.
A single source of Truth
Contracts evolve. Even the best contract management systems (CMS) need help keeping up with this evolution. But it's not only the systems that struggle. Employees struggle to review them manually resulting in missing critical information. Variations in terms and legal language make each contract unique and open to interpretation. Businesses need an enterprise-ready source of truth to manage the evolution and unlock the business intelligence stuck in contracts.
Go beyond ChatGPT
A semantic understanding of contracts is critical. No AI chatbot can return a true "best" answer without it. AI tools with off-the-shelf OCRs have real-world limitations in unpacking data. If they cannot see handwritten signatures, tables, and other nuances, someone must manually review contracts to extract the information. This stops automation. The only way to reach your automation goals is to go beyond basic OCR and text understanding.
Every 24 hours, more than 3 billion business emails are sent and received worldwide.
Secure enclave for contracts
Contracts are the lifeblood of your business. They should never appear on public platforms like ChatGPT—which needs your proprietary document data to train its AI. Enter Hero Platform_. It's a certified, secure automation platform engineered with native AI/cognitive intelligence. Reduce the risk with a secure enclave that isolates and integrates sensitive contract data with your existing tools. With Hero Platorm_, your data remains private and is never stored.
Discover the business value
Quick decision-making leads to faster contract completion. But contracts have complicated stuff—including handwriting, clauses, values, and tables—that must be extracted. Our patent-pending Context-aware OCR reads contracts like a tenured international contract lawyer and extracts data with above-human accuracy. Unlock the business intelligence in contracts and process your critical data faster.
Multilingual contract support built-in
With translated documents, there's always a concern for human error. Hero Platform_ extracts critical data points from contracts in any language. Like a multilingual international contract lawyer, our AI-driven IDP platform reads vendor names, contract values, start and end dates, and payment terms in multiple languages. Hero Platform_ is language-independent. Ask it a question about the contract, and it will provide the answer.
When integrating any new technology, security and ROI are real concerns. You want to get the most value from your automated workflow as quickly as possible. Popular large language models (LLMs) let you experiment with use cases until you find one that gives your business some value, but these are resource-intensive and come with risks that compromise your data. Go beyond experimentation and get real results. That's where our flexible platform comes in.
Choose from a variety of independent AI tools that require zero to very little training. Use them for rapid prototyping and start getting value from the platform immediately. And with the ability to transition to more optimized models, you can continue to improve your ROI. Plus, our platform offers the flexibility and security to extract and integrate sensitive contract data with all your systems.
Get the job done faster and better while saving time and money with Hero Platform_.
How we help enterprises with Contract Automation
Everyone uses a different template for their contracts. Regardless of the structure or layout of information, Hero Platform_ extracts essential data from PDFs, email attachments, scanned contracts, and more. This lends the platform to several use cases.
Data extraction
Automation Hero's semi-structured AI model finds specific parts of contract pages. Then, it combines industry-leading optical character recognition (OCR) to read documents with unmatched accuracy—turning handwritten signatures and numbers embedded within tables into valuable data for supply management, incident reports, and accounts payable tools to process in seconds.
Contract validation
IDP technology can also help review and analyze contracts by extracting key clauses, provisions, and dates, identifying potential risks and obligations, and comparing different versions of the agreement. In addition, Automation Hero captures expiration dates so users can set alerts, enabling contract managers to make more informed decisions with more time to prepare for negotiations.
Intelligent integration
After analyzing the data, Automation Hero can automate several actions, including alerting decision-makers to approve or remit amendments. The platform's API integrates seamlessly with third-party services, email providers, CRM software, and AP systems—automatically updating relevant business intelligence tools with real-time data that enhances decision-making.
Enhance negotiations
IDP doesn't just speed up data extraction—it helps contract managers analyze performance data and find hidden costs. Data extraction enables you to build a compelling case for better terms when it's time to renew. Find contract breaches and compliance issues, and use this information to discuss new arrangements. After all, nothing can counter the facts when it comes to negotiations.
Stability & scalability: Deploying intelligent document processing (IDP) as a microservice
Whether scaling up or down, platforms need to be built for rock-solid, stable performance. Your business depends on it. That’s why scalability and stability are the core pillars of the Hero Platform_.
FAQs about Intelligent Contract Automation
What is intelligent document processing (IDP), and how does it help with contract management?
Intelligent document processing (IDP) is a technology that uses artificial intelligence (AI) and machine learning (ML) algorithms to extract data from documents and forms automatically. IDP can help with contract management by automatically extracting relevant information from contracts, such as dates, payment terms, and clauses. This helps to streamline the contract management process and ensure that contracts are managed effectively and efficiently.
What are the benefits of using IDP for contract management?
There are several benefits to using IDP for contract management, including increased efficiency and accuracy, reduced manual labor, improved compliance, and a reduced risk of errors. IDP can help organizations manage contracts more effectively and efficiently, ensuring that important information is accurately captured and stored for easy access and retrieval.
How does IDP improve contract processing times?
IDP can improve contract processing times by automatically extracting relevant data from contracts and populating it into the appropriate fields in a contract management system. This eliminates the need for manual data entry, which can be time-consuming and error-prone. With IDP, contracts can be processed more quickly and efficiently, allowing organizations to focus on other essential tasks.
Can IDP help with contract analysis and review?
Yes, IDP can help with contract analysis and review by automatically extracting key terms and clauses from contracts. This can help organizations identify potential risks and opportunities in their contracts and ensure compliance with relevant regulations and policies. In addition, by automating the contract analysis and review process, IDP can help organizations save time and reduce the risk of errors.
Demonstration Videos
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