LONDON, June 12, 2019 /PRNewswire/ — EdgeVerve Systems today announced the launch of Nia Contracts Analysis at the AI Summit, London, 2019. Infosys Nia Contracts Analysis is a leading contract management system with the ability to discover, extract and analyze information present in contracts using Deep Learning, the way humans would – by keeping its context and semantics intact.
For any organization, legal and compliance functions are one of the most critical and often resource constrained. Many studies show that ineffective control and management of contracts with suppliers results in significant loss of revenue apart from loss in productivity and increased risk. To deliver high-value business impact, it is essential to build an intelligent system which not only avoids reliance on hard-coded logic based on pre-defined formats of contracts but also progressively learns with time.
Nia Contracts Analysis harnesses Nia AI platform’s Advanced Machine Learning, Vision and natural language processing capabilities to transform the process of analyzing and reviewing contracts. It provides organizations an opportunity to streamline their contract review process, thereby safeguarding the interests of business partners, increasing productivity by 50%, reducing costs and mitigating risks by automated extraction, sanitization and verification of extracted fields. Nia Contracts Analysis is a next-generation AI product that enhances the capability of an organization to manage risks and improve their overall negotiation strategy. The NASSCOM AI game changer award 2018 for innovative applications in ML lends further credibility to Nia Contracts Analysis.