Case Studies, Technology Articles

Google Document AI for Contracts & Resources Management

Business Need

Companies from every industry deal with documents that contain critical data to maintain their business operations on a daily basis. These routine activities may require large amounts of time for their highly qualified, and expensive, staff. The manual labor to process these documents is tedious and error-prone, and also adds to the cost and time of document processing.

To overcome these difficulties and improve the contracts and resource management system, Akvelon formulated the following goals:

  • Accelerate and simplify contract lifecycle management by digitizing and extracting highly accurate data from contracts
  • Ensure that the processing of documents can be adjusted while new contract structures are introduced
  • Reduce manual document processing, minimize setup costs, and accelerate deployment
  • Ensure a high level of accuracy with Human-in-the-Loop (HITL) reviews

Akvelon’s Engagement

Akvelon’s team started with investigating the service providers that can be seamlessly integrated with the Contracts & Resource Management system developed by Akvelon.

Our solutions architects chose to use Google Document AI for the following reasons:

  • The Document AI platform already contains pre-trained models for document processing, including basic extractors like OCR and Form Parser
  • Providing the Document AI Workbench to train the models on different business documents or create own models can lead to better results for documents
  • Presence of Human-in-the-Loop AI to help achieve higher document processing accuracy with the assurance of human review

Solution should work well with the on-premise deployed software, ensuring the highest level of security

As a result, developers created a microservice that communicates with Google Document AI via HTTPS connection and extended current back-end services to integrate workflows of bi-directional communication between Google Document AI Cloud and Contracts & Resource Management software.

The parsing process starts from the raw document and moves through our workflow to extract high-value information by converting the unstructured data into structured data.

Along with Google Document AI integration, the Contracts & Resource Management software workflow has a user-friendly interface so that document and extracted data can be easily interfaced with the existing business processes.

The newly-received contract PDF is then imported into the Contracts Management system.

After that, the system automatically processes a contract using Google Document AI to parse the contract and display a pre-filled import form using the Human-in-the-loop approach for final confirmation of contract terms like dates, invoicing milestones, service terms entries, and more by the user, like in the example below.

Due to more than 92% accuracy in automated parsing, the contract import process now takes just a few moments to complete.

Business Impact

Key impacts since the solution was released to production environment:

  • Achieved 125% improvement in data freshness/availability in the contract tracking system
  • Saved about 1.5 months’ worth of time annually for finance professionals, reducing mundane data entry work
  • Currently supports more than 20+ contract and purchase order types (SOW, PO, Amendments)
  • Implemented a secure machine learning business solution using Google Cloud Document AI technology, achieving 92% accuracy in contract data recognition

    Technologies used:
  • Contracts & Resource Management system: React JS, .NET Core, and MS SQL RDBMS
  • DocAI Microrservice: Python, Google Document AI API, openCV, Pandas, Natural Language processing library for Python (NLTK), and Numpy

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