Case Study: Major Audit and Management Consulting Company reduces lease review time by 80% with Cortical.io Contract Intelligence

How a Big Four Accounting Firm Reduced Review Time of Lease Agreements by 80%

Major Audit and Management Consulting Company faced a regulatory challenge from new IFRS 16 and ASC 842 lease accounting standards that required clients to disclose all leases on the balance sheet. With thousands of non-standardized lease agreements per client and high variability in how information is expressed, keyword-based automation failed to deliver reliable results. To address this, the firm engaged Cortical.io and deployed Cortical.io Contract Intelligence.

Cortical.io integrated Contract Intelligence into the firm’s contract-processing workflow, training extraction models with as few as 50 annotated leases and scaling to production for over 100,000 contracts. The solution handled OCR’d scans, extracted precise amounts, dates, clauses and inferred unstated data, and fed results into the firm’s lease-management tool for rapid verification. Cortical.io’s implementation cut manual review and data-extraction time by 80%, reduced costs, and freed expert staff to focus on higher-value work.