One of the biggest use cases for document and contract analytics is the identification of missed revenue in existing contracts.
PALO ALTO, Calif. (PRWEB) September 17, 2019
Aragon Research has published its first ever Tech Spectrum™ for Document and Contract Analytics, identifying 14 major providers who are helping organizations automate processes and speed up time to business outcomes via document and contract analytics.
Enterprises are facing tremendous pressure to deliver faster results and business leaders are looking for new ways to leverage technology to expedite outcomes. Document and contract analytics is an impactful new business category that goes beyond content management to provide actionable insights via artificial intelligence technologies.
As we leave the era that focused on managing content from a system of record perspective, and are now fully immersed in the digital era, the new mission is to automate content processes and to do it intelligently. Through identification and evaluation of abstract concepts and concrete connections, document and contract analytics refines disparate content sources from surface structured data (like that in database management systems) to deeper data in legal contracts, sales contracts, and other critical business agreements.
According to the new report, document analytics is comprised of four components:
- Revenue Identification
- Contract Risk
- DRM and Security
“One of the biggest use cases for document and contract analytics is the identification of missed revenue in existing contracts,” said Associate Analyst Samra Anees. “This use case alone can provide great value for businesses.”
The providers evaluated in this Tech Spectrum include: ABBYY, eBrevia, Ephesoft, Google, IBM, Icertis, iManage, Kira, Microsoft, OpenText, Pramata, Ravel, Seal Software, and Wonderflow. Aragon clients can access The Aragon Research Tech Spectrum for Document and Contract Analytics, 2019 in the AIN client community or on aragonresearch.com.
About Aragon Research
Aragon Research delivers high-impact visual research, consulting, and advisory services to provide enterprises the insight they need to make better technology and strategy decisions. Aragon Research serves business and IT leaders and has a proven team of veteran analysts. For more information, visit https://www.aragonresearch.com/.