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.
“What used to take us weeks now only takes a few days as we process over 40,000 PDF contracts of various claims in approximately 4 days with Astera ReportMiner”
— Legal Analyst for the company
Enter Astera ReportMiner
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 ReportMiner 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 ReportMiner 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
Challenge
The Finland-based manufacturing giant was forced to manually extract information from thousands of PDF contracts, putting strain on an already busy IT team.
Product
Astera ReportMiner
Use Case
Using ReportMiner, they were able to automatically extract data from contracts and process claims while cutting down on the resources needed for the process.
Results
The Finland-based company can now process 40,000 PDF contracts in approximately 4 days.
Using ReportMiner, 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 ReportMiner, 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.