Contract Markups: Detect, Automate, Decide, ACT!
Have you ever wanted to scan documents such as NDA’s, Mortgage Applications, HUD forms, or Purchase and Sale Agreements to determine what has been altered or modified without having to review every page?
INTRODUCING DOCUMENT AMENDMENT DETECTION MODULE
Using MagicLamp’s Document Amendment Detection Module, developed in IBM Datacap, contracts are reviewed, and every page in a document analyzed to identify instances where the text has been altered or modified by hand.
HOW DOES IT WORK
The process begins by splitting the document up into manageable blocks. Each block is then analyzed using a confidence cluster algorithm which ascertains where an edit by a pen is. When edits occur the position of the change is stored within the Datacap system for further usage downstream in the process.
When the document analysis is complete, Datacap will correlate the positions found against the known Sections of the document.
Datacap will then move on to the next steps. The steps can include publishing the results of the analysis to an external system or a verification stage where further communication could be made to end customers. Keep in mind that this would also be an excellent stage to implement an Acceptance or Rejection process and Datacap will only take the operator to the pages that contain the amendment.
USE CASE STEP 1.
- An RPA Robotic system receives documents.
- At this point, the RPA Robot has no idea of the Document Type or what to do with the document received
- The RPA Robot needs to send the document to an advanced imaging platform like Datacap for further in-depth analysis and review.
- Sending the document to Datacap is accomplished using MagicLamp’s RPA Datacap WTM Connector tool
USE CASE STEP 2.
- Using Advanced Imaging and Capture Techniques the Datacap platform provides the ability to determine the type of document it is processing.
- MagicLamp’s Document Amendment Detection Module is used to discover and store every amendment and their location specific to a page within the document itself.
USE CASE STEP 3.
Once the RPA Robot receives the Document Type, the number of amendments detected and their location on the page the RPA Robot can then become dynamic in nature being navigated based on a series of an externalized rules.
USE CASE STEP 4.
Using a rules platform such as IBM Operation Decision Manager (ODM) rules can easily be created or updated by business users all in real-time without having an impact on the underlying technical architecture. If new business rules are required, users may configure them in an IBM ODM Decision Table. Once the new entry is complete and published, the new rule will be evaluated and acted on accordingly.
USE CASE STEP 5.
ODM Rule: Does Strike Out Require Approval: This rule determines if an amendment is automatically accepted or requires review for approval. The decision parameters are the Document Type and the Document Section in which the change occurs. Based on this information users can set the rule to YES if a particular amendment needs approval.
USE CASE STEP 6.
ODM Rule: Document Next Steps: This ODM rule allows users to control the operation of the robotic output process regarding what the robot should do next with the document. Managing the Document Type and the number of amendments found in the document users can either route the document to an archive system, email the document or send the document to a secure print portal, all without having to change a single RPA process.
The good news is if you are looking for a solution that can scan any document and detect an amendment made by a pen, MagicLamp has the solution that can automate the entire process. Achieving automation in amendment review has many benefits, the most tangible is removing a repetitive task from skilled personnel which gives them time for customer interaction. The result of more customer interaction is an increased Net Promoter Score.
To request a demonstration of the Document Amendment Detection Module please email email@example.com