February 14, 2017 by Alex Cohen
New software solution provides rich data to seamlessly bring legacy contracts into current systems
SAN MATEO, Calif. – February 15, 2017 – Apttus, the category-defining Quote-to-Cash solution provider, today announced the availability of Apttus Intelligent Import. This technology solution automatically scans, loads, and analyzes contracts, both physical and digital, to an Apttus Contract Management repository. This has traditionally been a manual operation that prevents many organizations from gaining visibility into their legal and commercial obligations, hiding potential risks and revenue leakage from company leadership. Now, organizations can benefit from the many advantages of bringing their most critical contractual data into a centralized Quote-to-Cash operation.
Powered by a combination of Apttus’ Contract Management tool and technology from ABBYY, a global leader in document technologies, Apttus Intelligent Import makes legacy contracts more accessible, accurate, and relevant than ever before. It integrates several new efficiencies and capabilities for any organization or legal team, including:
- OCR: Converts documents in a broad array of formats into machine-encoded text, which can then be analyzed.
- Classification: Identifies the type of contract or legal document.
- Segmentation: Breaks each document down into its component parts, particularly clauses and business terms.
- Extraction: Pulls specific components, facts and attributes from a contract or document.
- Validation: Confirms correct segmentation and extraction of contract contents. Includes a state-of-the-art interface for conflict resolution and required legal review.
- Export: Transfers the data into a structure easily loaded into Apttus Contract Management.
“By applying proven e-discovery principles to the world of contracts with Apttus Intelligent Import, millions of data points can be identified, extracted and analyzed in a short amount of time,” said T. Jason Smith, esq., Senior Director of Application Solutions at Apttus. “These provide metrics by which you can measure performance, evaluate risk and proactively manage the relationships upon which your company’s success is built. This is critical to helping law departments increase compliance and reduce risk without slowing down the sales cycle.”
“Before the development of Apttus Intelligent Import, many contract management projects required months to even get started,” said David Bayer, VP, Text Analytics at ABBYY. “Together with Apttus, we’ve created a solution that accelerates the accurate extraction of critical information from legal documents to significantly reduce the cost and effort of bringing existing contracts into a revenue operation. We’ve now put the results and processes back into the hands of our customers and their legal teams.”
“Apttus Intelligent Import offers significant value to our customers. They’ll be able to save time inputting contracts and benefit from the numerous opportunities that an influx of new data provides,” said Kirk Krappe, Apttus CEO. “This is an enormous step forward, a direct result of both Apttus’ innovation in contract management technology and our partnership with the ABBYY team. Together, we’ve added a seamless, more efficient way of joining the Quote-to-Cash community.”
ABBYY is a leading global provider of technologies and solutions that help businesses to action information. The company sets the standard in content capture and innovative language-based technologies that integrate across the information lifecycle. ABBYY solutions are relied on to optimize business processes, mitigate risk, accelerate decision making and drive revenue. ABBYY technologies are used and licensed by some of the largest international enterprises and government organizations, as well as SMBs and individuals. The company maintains offices in Australia, Canada, Cyprus, France, Germany, Japan, Russia, Spain, Taiwan, UAE, the UK, Ukraine, and the United States. For more information, visit www.abbyy.com/company.
Apttus, the category-defining Quote-to-Cash software company, drives the vital business process between the buyer’s interest in a purchase and the realization of revenue. Utilizing a patented combination of SaaS-based applications, the Apttus Intelligent Cloud maximizes the entire revenue operation by driving behavior and providing prescriptive data to company decision-makers. Apttus offers enhanced Configure Price Quote (CPQ), E-Commerce, Contract Management, Renewals and Revenue Management solutions on the world’s most trusted cloud platforms, including Salesforce and Microsoft Azure. Apttus is based in San Mateo, California, with additional offices located across the globe. For more information visit: apttus.com.