Key Takeaways from 2024
Learn how AI is transforming document processing and delivering near-instant ROI to enterprises across various sectors.
Case Study
Finland-based Manufacturing Company Uses Astera to Automate Their After-Sale Process.
Processed 40,000 PDF Contracts in About 100 Hours
Accelerated Data Extraction Process from Several Weeks to Few Days
Background
The Finland-based manufacturing giant operates in more than 60 countries and has a worldwide network of distributors that serve over 450,000 building owners and facilities management customers. Aside from product installations of elevators, walkaways, and escalators, the company also provides after-sales services based on the contract agreement, ensuring better customer retention and loyalty.
Use Case
The manufacturing giant needed an effective solution to automate data extraction while cutting down on the resources needed for the process.
The biggest challenge for this global leader in the elevator and escalator industry was extracting coverage and exclusion information from 40,000+ contracts manually. Each contract contained heavy legal verbiage that spanned up to 250 pages. It took anywhere between several hours to several days for the paralegals to review each contract and draw out a synopsis for claim eligibility. Due to the sheer volume of contracts and lack of resources, manually reviewing every document with precision and verifying customers’ claims took the team thousands of days. They needed a solution that could automate data extraction and produce the information in a structured format.
Enter Astera
After thoroughly searching the market, the corporation decided to opt for Astera’s professional services to design and implement a custom solution to meet their data extraction and reporting needs.
As Astera offers a complete data extraction solution that is purpose-built, it helped the Finland company to handle a range of unstructured data formats, including PDFs, PDF forms, TXT, PRN, RTF, DOC, DOCX, XLS, and XLSX. Astera combined rule-based data extraction with an enterprise-grade ETL engine to help the after-sales team streamline their ETL process to liberate data trapped in unstructured files.
Profile
This Finland-based manufacturing company handles a variety of operations, including installation of escalators, moving walkways, and elevators. They process thousands of documents and PDF contracts every day to ensure smooth installation and after-sales services for all their products.
Industry
Manufacturing
Use Case
The Finland-based manufacturing giant wanted to extract information from thousands of PDF contracts, without putting strain on an already busy IT team.
Results
Using Astera, they were able to automatically extract data from contracts and process claims while cutting down on the resources needed for the process. The Finland-based company can now process 40,000 PDF contracts in approximately 4 days.
Astera’s team of engineers created a custom solution that consisted of three report models to extract data from all PDF formats. They designed a workflow that used custom logic to run through batches of contracts to find and extract the predefined set of keywords and phrases. It took approximately 3-4 days (about 100 hours) to clear out the corporation’s piled-up batch of 40,000+ contracts.
Using Astera, the company can now upload the final Excel reports in its ERP system to make the coverage information available to all departments. Since the process is repeatable and customizable, it now takes the corporation a few minutes to extract coverage information from new contracts and make accurate decisions on approving or rejecting claims.
Authors:
Rabia Hatim
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