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SuccessData has developed an AI solution that automates the extraction of information from documents such as legal and commercial contracts, invoices, web pages, regulatory docs.
About
SuccessData uses sophisticated machine learning to automatically turn “dark” data (unstructured data buried in text, tables or figures which by definition cannot be processed by existing software or analytics platforms) from documents such as legal and commercial contracts, regulatory filings, web pages, news articles or annual reports into machine readable datasets. SuccessData automates complex screening and analysis processes by extracting relevant data points and producing a predefined structured data output, replacing tasks that would otherwise necessitate tremendous human effort. What we have specifically worked on when designing the solution: - no hand-labelling and a model that trains on much smaller datasets, so the client automates extraction at the speed of light - Plug and play: SuccessData is easy to set up (based on APIs) - Data structure: not only we extract the data, but we also extract the hierarchy and organisation of the data. We are able to extract data from tables which is technically very difficult
Key Benefits
SuccessData allows the client to automate manual processes which are time-consuming and expensive -The time saved by our solution can be invested in higher value tasks and will improve the productivity overall -This is even more valuable when the number of documents that transit in your systems is high. It will drastically reduce the effort needed to retrieve useful data -The use of our solution allows for better quality of data as we will reduce the error rate that naturally derives from manual inputs -Our solution uses the latest AI technologies and thus allows for an effortless contribution of the client: very few examples of what you need are asked. No need for costly hand labeling of data. -Our technology allows for table data extraction, which is highly complex and very few of our competitors can get the same quality of results -The client integration is made easy thanks to APIs and the solution can be deployed either locally or on the Cloud to perfectly fit your needs
Applications
Ingestion of unstructured documents (contracts, complex invoices, legal documents in multiple formats - PDF, scan, webpages), analysis of the unstructured data and conversion into structured data, capturing the key data points (e.g. contract start date, contract end date, products, amount etc) which can then be automatically shared into a CRM or any other system. Typical Business Cases : KYC, contracts management, complex invoicing reconciliation