Client Profile.
Leading Management Consulting Firm IL, USA
Industry: Management Consulting
Objective.
Extract key terms from contracts and enter them into a contract management database, helping them to help their clients’ i.e., law firms and law departments to plan, implement and measure business, information and technology initiatives.
The Solution.
Identified, extracted & entered more than 70 data fields into an online database, from completely non identical contracts in form of Service Level Agreements, Statement of Work, Rent Agreement, Non-Disclosure Agreement, Terms and Conditions agreed between two parties or any other kind of Agreements in PDF format, ranging between 5-100 pages.
Technology / Software.
Web based application/Adobe PDF
Challenges.
- Zeroing on resources, well versed with law firm details such as terminologies, technicalities etc.
- Identifying key terms from contracts of on an average 100 pages to enter them in to an online database in a stipulated time frame.
- Client emphasized on efficiency of the resource, enhanced quality of work, but wanted to keep the cost low.
Benefits.
- Dedicated resource adhered to the workflow of data extraction from contracts in PDF format followed with data entry of fields as agreed upon with the client in an online database, enabled the client to holistically address and deliver their expert services in the areas of Core Infrastructure, Strategic Sourcing and Business Operations, IT Strategy & Planning, Information Lifecycle Management and Law Department Consulting.
- Accurate & comprehensive information entered from contracts into a web based application, enhanced the satisfaction level for a diverse range of clients.
Value Addition.
Consistent upgrades in our systems, processes and skills, as reciprocation to the ever evolving technological demands, ensure that our online data entry solutions are the ones with latest technological adoptions to assist our clients to stay competitive.
The Solution.
- Client opted for 10 resources from our pool of data entry experts.
- Looking at the complexity and severity of the process, knowledge download sessions were held by experts from client’s end.
- This was then followed with some trial data entries, which were checked for erroneous entries by the client, to ensure that the data entry operators and client requirements were on the same page.
- Steps followed for accomplishing accurate and efficient data entry task:
- Extracting contract from the form, saving it to a contract library and tagging the document with the preliminary metadata.
- Reading through the contract, pullout key terms and enter key terms and preliminary information into Contract Management DB using forms.
- Enlisted are some of the fields, from approx. 70 fields from a particular contract, that were extracted and entered in the online database:
- Contract Name
- Client Name
- Contract Owner
- Contract Signatory
- Date of Expiration
- Renewed Y/N
- Signing Bonus
- Date Signed
- Date Effective
- Date Entered
- Amount Escalator
- Amount Annual Expected
- Cancellation Clause
- Rebate Amount – and many more
