Intelligent Automation transforming the contract ... · • Validate crucial contract information...
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Client Overview: A Belgian pharmaceucal major with over 7,500 employees and presence in over 40 countries. Business Challenges: The area of focus for the client was the procurement process. Being a global firm, there were thousands of contracts that needed to be processed and ingested into the procurement system. This requirement necessitated employees to focus on large documents in mulple languages, resulng in a considerable backlog of contracts. Engagement Scope: • Receive contracts/ details in email • Validate crucial contract informaon • Update the same in Ariba There was a need to enhance employee producvity and ensure opmal use of technology to streamline the contract management process. The Hexaware Approach: Hexaware dove deep on the exisng state of the contract management process. Our process, transformaon and domain specialists devised a soluon that could immensely help to address the crical issue of extracng informaon from unstructured, mullingual contracts. To help this process, we came up with a soluon that opmally ulized man and machine to process and ingest these contracts. Cognive OCR and RPA were used along with our consultants to put in place an operang model that cut down on the vast efforts required to read through large contracts and extricate the informaon needed to ingest these contracts. To start with, we completed a transformaon assessment for this client and the project began with a standardizaon exercise where the emails were standardized to ensure seamless BOT operaons. Post that, the soluon had three major steps. A bot would extract the scanned contract documents from an email. Then the cognive OCR kicks in and captures the informaon from the documents needed to create the contract in the procurement system. The OCR tool reads the scanned document and captures over 40 fields, 20 of which are mandatory. These are then displayed within the tool for a user to check for the quality. The Machine Learning (ML)-based OCR soluon helps in defining several templates and layouts to capture data from mulple formats of structured and unstructured contracts, thus reducing human intervenon over a period of me for various formats of a contract. Then another bot logs in and enters all the captured data into the procurement system. This involves data entry across mulple screens, data retrieval from mulple folders, thus ensuring a seamless handoff across the three steps. The role for the employee, dedicated to the process, changed from actually creang the contracts in the system to being able to use their me for higher value acvies such as negoaon and focusing on crical clauses. Automaon Delivered: • BOT reads the incoming emails with scanned contract documents • ML-based OCR BOT reads and captures the relevant fields from the contract copy • BOT logs into Ariba and keys in the informaon in the system Intelligent Automaon transforming the contract management process for a Pharma giant www.hexaware.com | [email protected]
Transcript of Intelligent Automation transforming the contract ... · • Validate crucial contract information...
Client Overview:A Belgian pharmaceutical major with over 7,500 employees and presence in over 40 countries.
Business Challenges:The area of focus for the client was the procurement process. Being a global firm, there were thousands of contracts that needed to be processed and ingested into the procurement system. This requirement necessitated employees to focus on large documents in multiple languages, resulting in a considerable backlog of contracts.
Engagement Scope:• Receive contracts/ details in email• Validate crucial contract information• Update the same in AribaThere was a need to enhance employee productivity and ensure optimal use of technology to streamline the contract management process.
The Hexaware Approach:Hexaware dove deep on the existing state of the contract management process. Our process, transformation and domain specialists devised a solution that could immensely help to address the critical issue of extracting information from unstructured, multilingual contracts.
To help this process, we came up with a solution that optimally utilized man and machine to process and ingest these contracts. Cognitive OCR and RPA were used along with our consultants to put in place an operating model that cut down on the vast efforts required to read through large contracts and extricate the information needed to ingest these contracts.
To start with, we completed a transformation assessment for this client and the project began with a standardization exercise where the emails were standardized to ensure seamless BOT operations. Post that, the solution had three major steps. A bot would extract the scanned contract documents from an email. Then the cognitive OCR kicks in and captures the information from the documents needed to create the contract in the procurement system. The OCR tool reads the scanned document and captures over 40 fields, 20 of which are mandatory. These are then displayed within the tool for a user to check for the quality. The Machine Learning (ML)-based OCR solution helps in defining several templates and layouts to capture data from multiple formats of structured and unstructured contracts, thus reducing human intervention over a period of time for various formats of a contract.
Then another bot logs in and enters all the captured data into the procurement system. This involves data entry across multiple screens, data retrieval from multiple folders, thus ensuring a seamless handoff across the three steps. The role for the employee, dedicated to the process, changed from actually creating the contracts in the system to being able to use their time for higher value activities such as negotiation and focusing on critical clauses.
Automation Delivered:• BOT reads the incoming emails with scanned contract documents• ML-based OCR BOT reads and captures the relevant fields from the contract copy• BOT logs into Ariba and keys in the information in the system
IntelligentAutomation
transforming thecontract management
process for aPharma giant
www.hexaware.com | [email protected]
Benefits
66%reduction in the
Average Handling Time to process
contracts
Ensured100%closuresin a day
71%reduction
in efforts toprocess
contracts
Clearedbacklog of
contracts to improve the experience
A scalable, flexible solution was delivered with the correct procedures in place for quality controls and a great employee experience. Through this intelligent automation intervention, the customer has achieved:
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About HexawareHexaware is the fastest growing next-generation provider of IT, BPO and consulting services. Our focus lies on taking a leadership position in helping our clients
attain customer intimacy as their competitive advantage. Our digital offerings have helped our clients achieve operational excellence and customer delight by
‘Powering Man Machine Collaboration.’ We are now on a journey of metamorphosing the experiences of our customer’s customers by leveraging our industry-
leading delivery and execution model, built around the strategy— ‘AUTOMATE EVERYTHINGTM, CLOUDIFY EVERYTHINGTM, TRANSFORM CUSTOMER EXPERIENCESTM.’
We serve customers in Banking, Financial Services, Capital Markets, Healthcare, Insurance, Manufacturing, Retail, Education, Telecom, Professional Services
(Tax, Audit, Accounting and Legal), Travel, Transportation and Logistics. We deliver highly evolved services in Rapid Application prototyping, development and
deployment; Build, Migrate and Run cloud solutions; Automation-based Application support; Enterprise Solutions for digitizing the back-office; Customer
Experience Transformation; Business Intelligence & Analytics; Digital Assurance (Testing); Infrastructure Management Services; and Business Process Services.
Hexaware services customers in over two dozen languages, from every major time zone and every major regulatory zone. Our goal is to be the first IT services
company in the world to have a 50% digital workforce.
Safe Harbor StatementCertain statements in this press release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry.
