HERE Technologies Drives Quick Time to Value with Icertis' Powerful AI capabilities

Business Challenge 

HERE Technologies wanted to get more value from its legacy contracts that were not stored or accessible through Icertis Contract Intelligence (ICI). The leading location technology company had 70,000 documents in non-digitized, unstructured forms, representing a huge wealth of data that could not be easily accessed and shared across the company to make better business decisions. 

HERE had previously adopted Icertis Contract Intelligence to create a single source of truth for its contracts, thereby increasing efficiency, protecting against risk, and empowering its employees to manage contracts without heavy involvement from legal. 

Without access to legacy contracts, however, HERE’s goal for a single source of truth was missing a critical component. The effort to manually digitize 70,000 contracts and extract the data within them was cost- and time-prohibitive. 

The Solution 

HERE turned to the Icertis DiscoverAI, which utilizes Icertis’ cutting-edge patented AI technology trained on one of the largest annotated contract repositories in the world.

“ICI’s DiscoverAI app rapidly digitized and analyzed more than 70,000 legacy HERE and third-party contracts allowing us to unlock critical contractual terms to improve our business.”

DiscoverAI app identifies and extracts contract metadata, attributes, and clauses at scale and has helped companies unlock value from millions of historical contracts to date. Utilizing the unmatched scale and power of Microsoft Azure, contracts can be converted from unstructured blocks of text to parseable digital assets in about 75% less time than manual processes allow. 

HERE ran 70,000 legacy contracts through the Icertis AI pipeline of proprietary algorithms. Using Optical Character Recognition (OCR) technology, contract data contained within text, images, tabular data, and low-resolution PDFs could be processed by the system. 

The Benefits 

With these contracts fully digitized and integrated into the enterprise contract data pool, HERE’s 10,000 employees are empowered to make better business decisions when managing their contracts. For example, HERE’s sales teams now have deeper insights into past customer contracts that allow them to make proactive decisions on renewals, up-sell, and cross-sell, thereby increasing revenue and accelerating contract turnaround time. 

HERE was surprised and delighted by the speed of the cutting-edge Icertis AI technology, which has allowed its legal department to be a better partner to the business.