# ABBYY launches Text Analytics for Contracts Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-04-28 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: Accelerate Business Decision-Making with AI-Driven Contract Meta Description: Discover insights, streamline analysis and accelerate time-to-value with ABBYY's AI-driven managed service for contract intelligence. Contact us today! Tags: featured Tag URLs: featured (https://financedigest.com/tag/featured) URL: https://financedigest.com/abbyy-launches-text-analytics-for-contractshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd280418-11-1736842785597-compressed.jpg) The new scalable managed service uses AI to dramatically accelerate business decision-making through human-like understanding of contracts [ABBYY®](https://www.abbyy.com/en-gb/), a global provider of content intelligence services, today announced the launch of [ABBYY Text Analytics for Contracts](https://www.abbyy.com/solutions/text-analytics-for-contracts/), a managed service that automatically discovers insights from contracts and leases to speed up risk mitigation, obligation analysis and content migration. With Text Analytics for Contracts, businesses can leverage the entire ABBYY technology portfolio to accelerate time-to-value and successfully implement their contract lifecycle management, robotic process automation and digital transformation strategies. ABBYY’s human-like understanding of contracts enables users to speed-read documents by pinpointing sections, clauses and facts for systems of records or other business processes to drive contextually informed, accelerated decision-making. The [service is well](https://www.financedigest.com/uk-says-baker-hughes-altus-deal-may-hurt-competition-in-oil-well-services.html "UK says Baker Hughes-Altus deal may hurt competition in oil well services") suited for large and medium-sized enterprises, large-scale system integrators and independent software vendors who need to automatically leverage the intelligence embedded within sectioned documents including contracts, leases, regulatory filings and more, to augment business decision-making processes and ensure compliance with emerging regulations such as GDPR and ASC606. “Text Analytics for Contracts empowers [businesses](https://www.financedigest.com/business-texting-an-essential-communication-tool.html "Business Texting: An Essential Communication Tool") to reduce time-to-content, automate time-to-decision and accelerate their time-to-compliance. It simplifies the use of semantic and AI technologies to automatically identify [intelligence within contracts and streamlines analysis](https://www.financedigest.com/now-is-the-time-for-banks-to-introduce-intelligent-account-analysis.html "Now Is the Time for Banks to Introduce Intelligent Account Analysis") to dramatically reduce turnaround time,” comments Bruce Orcutt, Vice-President, Head of Product Marketing at ABBYY. The service’s modular, extensible and scalable cloud-based architecture allows contract processing as well as discovery, review and analysis workflows to be easily customized – all with zero infrastructure footprint. Micro-service based workflows provide users with a highly flexible environment to perform section, obligation and compliance analysis, drawing on [products and technologies](https://www.financedigest.com/u-s-lighting-products-market-recent-strategies-trends-technology-innovation-analysis-application-by-tmr.html "U.S. Lighting Products Market: Recent Strategies, Trends, Technology Innovation, Analysis Application by TMR") from ABBYY’s portfolio of AI, NLP, recognition, and information capture technologies, as well as third-party products and services. Text Analytics for [Contracts enables clients to run teams across multiple time zones](https://www.financedigest.com/euro-zone-business-activity-contracted-again-in-august-pmi.html "Euro zone business activity contracted again in August -PMI"), 24/7, using multi-tier review and analysis workflows. ABBYY service personnel simplify customer engagement by taking responsibility for configuration, staging and processing of documents, to accelerate the [delivery of contract-based intelligence](https://www.financedigest.com/intelligent-delivery-the-future-of-ecommerce-and-retail.html "Intelligent delivery: the future of eCommerce and retail") to client personnel. The granular level of insight is achieved using ABBYY’s comprehensive NLP technology, which combines syntax, semantics, pragmatics and machine learning to identify sections, target specified entities and understand complex structures. It provides the high level of accuracy and customization needed by attorneys [dealing with complex contracts during negotiations](https://www.financedigest.com/s-africa-negotiates-deal-with-eu-to-clear-citrus-blockage-at-ports.html "S.Africa negotiates deal with EU to clear citrus blockage at ports") or mergers and acquisitions, and compliance and security professionals when dealing with risk. The advanced technical capabilities are accessed through simple, intuitive interfaces that require minimal training and provide an effortless user experience. **Availability and pricing** ABBYY Text Analytics for Contracts is [available worldwide](https://www.financedigest.com/meet-appyfair-the-long-awaited-french-leader-of-virtual-and-hybrid-events-is-now-available-worldwide.html "Meet AppyFair: the long-awaited French Leader of virtual and hybrid events is now available worldwide"). For more information, please contact an ABBYY representative. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---