Convert PDF and image contracts into searchable documents
Contract management teams often have to deal with the laborious task of managing legacy paper contract document, scattered across various business units and network drives making them prone to low visibility and operational risk. In some cases, contracts signed outside the contract management system or on 3rd party paper is faxed or emailed back. Just uploading these files make it into your contract management software as non-readable PDF or image files, it makes the system inefficient.
For contracts to be usable, the key contract metadata and language from each contract document must be readable, made available for search and querying.
OCR or Optical Character Recognition (OCR) contracts scanning offers many advantages for legal and contracts management professionals. OCR converts scanned in contract documents and images into a usable text-searchable format. Once these documents are OCR processed, eContracts can link to both the original scanned and OCR copy of the document and makes them available for users to search by content inside the document such as legal clause, counterparty name, legal entity name or any other phrase.
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