Case Study: KPMG achieves faster IFRS 16 contract processing with IBM Watson

KPMG helped businesses process leasing contracts automatically with AI

KPMG needed a scalable way to help customers comply with IFRS 16, which required extracting and analyzing large volumes of lease contract data for new balance sheet disclosure rules. The firm turned to IBM Watson and IBM Enterprise Content Management technology to build an AI-based offering that could automate this labor-intensive contract review process.

IBM helped KPMG implement the KPMG Content Abstraction Tool using Watson Knowledge Studio, Watson Explorer, Datacap, Business Automation Workflow, and Operational Decision Manager. The solution processed and categorized contracts, extracted key data for validation, and delivered structured outputs to accounting systems, increasing processing speed by 75%, handling 70,000 contracts, and completing the workflow in 25% of the time with high quality.

KPMG

Stephan Rinck

Consultant for Cognitive Business Solutions