Distil key information from documents

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RAVN Extract uses Artificial Intelligence technology to automatically read, interpret and extract key information from unstructured data into a desired business output, like a human would do but much faster and eradicating human error.
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See this product in action

  • 
    RAVN ACE robot is 10 million times quicker than the manual labour it replaced
    
    
    
    
     
     
     
     
    Matthew Whalley, Head of Legal Risk Consultancy, BLP, Legal Futures Event Quote
  • 
    Our 'contract robot' can now finish in less than two seconds work which would have taken a team of people 100 days to complete.
    
    
     
     
     
     
    Matthew Whalley, Head of Legal Risk Consultancy at BLP
  • 
    RAVN were very good at adapting a technical product and speaking about it in a non-technical way. We explained the problems we were facing and they offered a solution and explained it in an easy-to-understand and user friendly way.
    
    Victoria Blanchard, Consultant at Berwin Leighton Paisner
  • 
    RAVN ACE is the most exciting new development we’ve seen for several years…a true next generation system
    
    
     
     
     
     
    Independent Legal IT Consultant at Inside Legal IT event

Benefits of RAVN Extract

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Increase Efficiency

RAVN Extract is far more efficient at reading, extracting and summarising information than traditional manual efforts, allowing you to get to the information you are after much quicker. By automating this process, staff that used to manually perform these arduous tasks can now focus on other things.

Mitigates risk

By automating the review process, companies and firms can reduce risks such as typos and other human errors. Different people interpret data in inconsistent ways, but with the implementation of RAVN Extract, firms can be assured that all the data extracted is consistent.

Increase Margins

Margins are increased as more work can be done in less time. There is no need to hire additional temp staff to meet tight deadlines allowing both labor costs and cost of office space to be reduced. Also, RAVN Extract does not require a promotion, pay rise, overtime or sick days.

Staff Morale

As staff no longer have to perform uninteresting, repetitive data extraction tasks, they are able to focus on more engaging work leading to an increase in staff morale.

Get more from your documents & unstructured data

Too much time is spent and too many opportunities are lost due to the lack of relevant information to hand. You need the right information, at the right time, in the right place. The era of simply searching for and finding documents has passed, you need to be able to extract and distil the information held from within documents. This is where RAVN Extract comes in.

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Automate the review process

RAVN Extract uses Artificial Intelligence to review documents as a human would do.
All you need to do is ask RAVN Extract what key pieces of information you are looking for (for example addresses, names etc.) and it will automatically read and interpret stacks of documents then extract and summarise the key information for you for in a matter of seconds.
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Why do I need RAVN Extract?

Organisations are facing a rise in unstructured data and according to IDC the volume of corporate held data will be 44 ZB by 2020. This unstoppable growth is causing several problems for organisations:

  • Finding the relevant information
  • Lack of time and resource to interpret mountains of documents
  • Lost opportunities due to lack of relevant information

RAVN Extract can help you overcome these obstacles.

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Applied Cognitive Engine

RAVN Extract is built on top of the RAVN Applied Cognitive Engine (ACE). RAVN ACE brings together different technologies from the fields on Information Processing and AI (Artificial Intelligence) in a coherent, enterprise-ready solution stack. Beyond the foundations of a powerful document search engine, the Applied Cognitive Engine focuses on extracting and distilling the information within documents.

Ace Cognitive Computing

Who can benefit from RAVN Extract?

RAVN Extract is not narrowly focused on a single area of expertise, but it can be used in multiple strands of business and be truly multipurpose too.
The potential uses for RAVN Extract are virtually unlimited; whether you are a law firm, financial services company or any other business that needs to deal with huge stacks of unstructured data – RAVN Extract can help you!

Here are some specific use cases where RAVN Extract has been successfully deployed:

Extract for Real Estate: RAVN Extract automatically extracts the requested data points from documents such as tenancy agreements or Land Registry documents. For example data including names, addresses, length and expiry of lease. A summary of this key data is then automatically exported into a desired business output. Results show that RAVN Extract can now finish in less than two seconds work which would have taken a team of people 100 days to complete.

Extract for Contract Analysis: The solution can automatically cluster contracts, including scanned PDFs, into separate contract categories. Each category is then handled to extract the requested data points, such as call out rates, overtime, shift and standby rates, and export them into a desired business output for further analysis.

RAVN Extract can also highlight where it is unable to extract the data points or if it lacks confidence in the value and these are then highlighted in the report. This is usually down to poor quality in the original documents or where sections of text has been crossed through and edited by hand.

Extract for Due Diligence: Documents and contracts, including scanned PDFs, are uploaded to RAVN Extract. The machine then automatically clusters the content into separate document classes (e.g. facility agreements, commercial mortgages, structured finance contracts, etc.) before extracting the relevant set of data points for each document class into a desired output e.g. third party system or excel spreadsheet.

In a recent example, RAVN Extract was able to replace 800 hours of manual due diligence work with 40 hours, including configuration, processing and output of the data; an overall reduction of 95% of the time for the data processing phase of the engagement.

Extract for ISDA CSAs: The solution can read, interpret, extract and summarise the content held within ISDA CSAs. It converts unstructured data into structured output.

Firstly, RAVN ACE can extract the structure of the agreement – the clauses and sub-clauses – which can be very useful for subsequent re-negotiation purposes, particularly if you adopt re-negotiation solutions that can leverage this structure.

It then further extracts the key definitions from the contract, including collateral data from tabular formats within the credit support annexes.
All this data is made available for input to contract or collateral management and margining systems or can simply be provided as an Excel or XML output for analysis.

RAVN ACE also provides an in-context review and preview of the extracted terms to allow reviewing teams to further validate the data in the context of the original agreement.

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Watch our Case Study on BLP’s use of RAVN ACE

See how RAVN ACE has benefited Berwin Leighton Paisner in terms of increasing efficiencies, mitigating risk, cutting costs as well as increasing staff morale.

 

Need more information?

Read our Extract Brochure

FIND OUT MORE

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  • 
    RAVN Manage and RAVN Connect Enterprise supplement our current systems extremely well. With both systems, searches become even more efficient and documents may be retrieved significantly faster than before. The fact that the systems understand how people work together and are able to spot cohesion through entire cases is a real strength in our daily operations. In Bech-Bruun, this is a highly strategic focus area. Moreover, RAVN is a pioneer in the area and we consider this as the first step to full implementation of AI.
    
    
     
    Stefan Winqvist, CIO at Bech-Bruun
  • 
    RAVN ACE robot is 10 million times quicker than the manual labour it replaced
    
    
    
    
     
     
     
     
    Matthew Whalley, Head of Legal Risk Consultancy, BLP, Legal Futures Event Quote
  • 
    Our 'contract robot' can now finish in less than two seconds work which would have taken a team of people 100 days to complete.
    
    
     
     
     
     
    Matthew Whalley, Head of Legal Risk Consultancy at BLP
  • 
    RAVN were very good at adapting a technical product and speaking about it in a non-technical way. We explained the problems we were facing and they offered a solution and explained it in an easy-to-understand and user friendly way.
    
    Victoria Blanchard, Consultant at Berwin Leighton Paisner
  • 
    RAVN ACE is the most exciting new development we’ve seen for several years…a true next generation system
    
    
     
     
     
     
    Independent Legal IT Consultant at Inside Legal IT event
  • 
     RAVN is very competitively priced at the moment and provides a standardised Windows interface so it needs much less integration. “It’s really simple and mimics the tech people already use. I’m focused on systems that are intuitive to use – unless it’s very simple to use people don’t have the time to work it out and remember how to use it. 
    
    Jeremy Rooth, Director of Business Transformation and Knowledge Management at Withers
  • 
     The RAVN solution allows us to leverage the inherent search capabilities that are now included with SharePoint 2013 and with the RAVN connectivity layer provided, we have the ability to extend to our broader information corpus as required. 
    
    Richard Skinner, Applications Architect at Taylor Wessing
  • 
     By building on the standard [Microsoft] technologies we will keep all the enhancements Microsoft have and continue to make with their search engine, augment it with RAVN’s preview and connectivity technologies and we are also able to utilise the huge wealth of expertise, WebParts and add-ons developed by the wider Microsoft community. 
    
    Sam Luxford-Watts, IT Manager at Watson Farley & Williams
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    RAVN has been instrumental in helping us create Insight, not only with the integration of the uniquely powerful RAVN Core platform at the heart of the solution but also with a high level of expertise at the forefront of search-based technologies.
    
    
    Michael George, Deluxe MediaRecall Executive Vice President and General Manager
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    With RAVN’s help we have been able to get a head start on production and have actually reduced production costs. RAVN have certainly been excellent value for money.
    
    
    Search Project Manager, Sky
  • 
    
    RAVN Connect revolutionises Sharepoint Search in distributed environments
    
    
    Senior IT Manager, COWI
  • 
     If you need your corporate Knowledge Management tailored to your needs, RAVN should be your first port of call 
    
    Josh Ellis, CIO, SFO