Case Study: a payment technology company improves CLM accuracy and contract insights with Epiq

Payment Technology Company Leverages Custom AI and Machine Learning to Enhance CLM

The payment technology company faced challenges with its contract lifecycle management (CLM) repository, needing to validate provisions, improve spending adherence, and strengthen analytic insights. They engaged Epiq for its Contracts Solutions expertise and proprietary AI and machine learning services to address these issues.

Epiq implemented a solution using optical character recognition powered by machine learning to extract and verify contract provisions from a vast repository. The vendor reviewed over 90,000 contracts, trained six custom ML models, and achieved a 95% data accuracy rate. This process significantly enhanced the organization's contracts metadata and improved overall CLM repository utilization for the payment technology company.