Efficient management of contract document abstraction process with automated rules generation and entity-value mapping.
Enterprises can save 50% in document abstraction effort through fully automated rules generation and entity-value mapping with Wipro HOLMES™ ML for Contracts. The solution automates understanding of lengthy and complex legal contracts, extracts clauses from these documents and classifies clauses into various categories based on built-in domain ontology. It also generates business rules based on the work instructions/SOP document to capture relevant attributes into the document management system.
Having the right information helps in ensuring governance and management of deliverables and obligations, and empowers business users. This is also complemented with alerts for business stakeholders that provide insights to derive strategic value from contracts and ensure governance.
This solution, based on work instructions document and SME inputs, can be applied to different contract types such as Master Agreements, Confirmations, Credit Support Annex etc.