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SUCCESS STORY

Wolters Kluwer Reimagines Business Processes

TCS implements deep machine learning (DML) for simplifying legal invoice operations

 
Client
Wolters Kluwer
Industries
Information Services
Service
Tax Finance Audit Risk Compliance Regulatory Services

Challenge

Automating the time-consuming manual legal invoice management system with TCS’ DML model

Wolters Kluwer’s Enterprise Legal Management solutions business unit provides legal spend and matter management, contract lifecycle management and legal analytics solutions. They receive a high volume of legal and insurance claim invoices. Paper invoices can account for 3-5% of customers’ total legal spend. Invoices were received in a wide variety of file formats and then needed to be manually processed, which was time consuming, cumbersome, and resulted in inaccuracy. The client was therefore looking to streamline its legal invoice operations to be fast, accurate and tailored to its customers’ policies

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Solution

Wolters Kluwer pioneers a smart e-billing solution with TCS’ DML.

TCS helped Wolters Kluwer deploy a neural-network-based DML model, a part of TCS’ Cognitive Computing Suite (CCS), to get better insight into historical invoice formats. Underpinned by natural language and digital image processing, TCS’ neural network pre-processes and enhances structured and unstructured data from all invoice formats. The solution involves stitching the gap between human parsing experts and DML algorithms with a workflow. This combination ensures high quality, efficient and consistent extraction of all key data elements. Unformatted raw pdfs across thousands of formats are transitioned into a LEDES-formatted data feed, which is integrated directly into an enterprise legal management spend system. The DML-based e-billing solution has also helped the company address new opportunities and provide their clients with a comprehensive look into their legal spends.

“Wolters Kluwer is excited about pioneering the industry’s first e-billing solution with deep machine learning capabilities, which are powered by TCS’ cutting-edge cognitive technologies." Abhishek Mittal, VP, Head-Data Analytics, Opex and Legal Ops COE, Wolters Kluwer

Benefits

Wolters Kluwer enables customers to uncover additional savings.

Wolters Kluwer now offers Intelligent Invoice Conversion, with DML that gets smarter with every invoice it processes. The new solution drives an increase in legal spend processed, and:

 

67%

Reduction in manual effort

99%

Accuracy

74%

Decrease in price

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