iManage RAVN Extract
Unlock the full value of documents and unstructured data
Business transactions, asset transfers, loans, and many financial instruments are based on agreements and other complex form types. Millions of labor hours are spent every year by smart law firm associates and junior bankers rifling through agreements and extracting key data that is used in crucial transactional documents and analysis. This manual, labor-intensive effort is very expensive, time consuming, prone to errors and impacts overall company competitiveness. This labor cost can eat away at profitability or even make entire practices of business too expensive to pursue. Clients demanding innovative pricing models and cost-risk sharing are placing more of the burden to reduce costs on their suppliers.
Many organizations faced with this challenge, are exploring the use of Artificial Intelligence (AI) technology to streamline their business processes. AI’s ability to quickly automate cognitive tasks enables firms to dramatically reduce or eliminate the time consuming and costly work of reviewing and extracting key terms from thousands of disparate documents. Leveraging the power of AI, organizations can review all documents (not just a sample), improve accuracy, build a consistent low-cost review process, and ultimately deliver great work.
iManage RAVN Extract, powered by the award-winning RAVN AI technology, automatically reads, extracts and interprets critical business information from large volumes of documents and unstructured data, all from a single user interface. With iManage Extract, organizations can typically reduce manual labor costs by 50% or more, and transform unmanageable projects into streamlined and profitable processes.
Extract quickly identifies the structure of a document and uses out-of-the box or self-trained extractors to accurately find and extract specific terms or clauses. Once created, these extractors can be used across multiple projects. With Extract, organizations can develop multiple solutions to get more done in less time, access the value locked away inside their documents and turn moneylosing tasks into profit centers.
Get more value out of your organization’s data
iManage RAVN Extract can automatically access and make actionable large volumes of valuable information locked away inside your organization’s business systems.
- Pre-defined out-of-the-box extractors for contracts and a variety of document types automatically identify and extract relevant data in a seamless user interface. Get up to speed quickly, reduce upfront work and increase speed of execution for large volumes of documents and datasets.
- Self-training module puts organizations in control and enables users to train iManage Extract to extract content from industry or company-specific documents and datasets. Deploy new data extraction applications rapidly without dependence on specialized data scientists.
- Manage and re-use extractors between projects: Create extractors for your organization’s documents and reuse them across multiple projects throughout the enterprise. Develop new departmental solutions quickly and at lower cost, thereby increasing the organization’s ability to adapt to new opportunities.
Quickly transform projects from chaos to organized review in less time
iManage RAVN Extract AI technology enables organizations to gain insights into relevant data locked away inside their business documents. When used with iManage RAVN Classify automatic clustering and classification capabilities, Extract can remove the chaos and organize large document sets into specific categories or clusters to expedite the review process. A user-based security model enables sophisticated users to see all functionality, while reviewers stay productive with a simplified view. Leveraging the power of Extract, organizations can implement better project scoping, pricing and resource planning, while establishing consistent best practices review processes.
Improve accuracy and find relevant information faster
iManage RAVN Extract takes search to the next level and pin-points relevant data with greater accuracy in less time. Using advanced extraction capabilities, iManage Extract can quickly interpret the structure of large, complex documents, including clauses and sub clauses of agreements, key definitions from contracts, and tabular information contained in financial documents.
Extracted data can be integrated into third-party contract or collateral management systems, or simply be provided as an Excel or XML output for further analysis. Extract uses input from the use of the system to continuously improve extraction accuracy, all from within a single easy to navigate user interface.
Enhanced user experience makes you more productive
iManage RAVN Extract smart features enable organizations to save time, work more efficiently and streamline projects.
- In-document search automatically identifies relevant information within sections of a document so you cut through the clutter and find relevant information faster.
- Dynamic event notification keeps you informed during the process, reduces the need for training and improves user adoption across project teams within the organization.
- Bulk tagging quickly provides structure in the review process, and work can be delegated more efficiently in project teams.
- Near-native preview capabilities pin-point relevant information in a document format that looks like the original. No need to hire additional resources for manual review process.
- In-context review and preview of extracted terms allows reviewing teams to further validate the data in context of the original agreement. Implement projects faster and improve review accuracy.
Reduce cost of ownership, enhance IT agility
Like all iManage RAVN applications, iManage RAVN Extract leverages the single iManage RAVN AI engine and search index and provides capabilities for advanced integration between iManage applications. Organizations can seamlessly upgrade to future capabilities of Extract with no down time or inconvenience.
A robust API enables extracted data to be exported into other reporting formats for quick integration with your organization’s existing systems. With Extract, streamline business processes, reduce cost and get more value out of your organization’s documents and unstructured data sets.
Deploy in the iManage Cloud or on-premises
iManage RAVN Extract is available in the iManage Cloud, the first and only cloud service to bring proven technology relied upon by Internet leaders such as Google, Facebook and Twitter to the professional community for document and email management.
Cloud users benefit with continuous upgrades, zero downtime for maintenance, extensive scalability and sustainable performance from anywhere, integrated analytics to intelligently monitor and protect all data from unauthorized or malicious access, and data encryption for data at rest and in motion using customer managed encryption keys.