Businesses run on documents as documents help build connections. They cement relationships and enable trust and transparency between stakeholders. Documents bring certainty, continuity, and clarity. When it comes to reviewing documents, most intelligence platforms perceive documents for their language content. A business document is not just written text, it’s a record of information and data – from simple entities such as names or addresses to more nuanced ones such as notice period or renewal dates – this information is required to optimize workflows and processes. Revv recently added Metalens, an intelligent document analyzer that breaks this barrier and applies artificial intelligence to extract data and intent from business documents to scale up business processes.
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Metalens allows users to extract relevant information and identify potential discussion points from any document (pdf or Docx) within Revv. This extracted data can be reused to set up workflows, feed downstream business apps with relevant information, and optimize business processes. Think itinerary processing, financial compliance, auditing, renewal follow-up, invoice processing, and so on, all identified and automated. The feature improves process automation, which is otherwise riddled with copy-pasting errors and other manual data entry bottlenecks.
Rishi Kulkarni, the co-founder, adds, “Revv’s Metalens feature is fast, efficient, and a powerful element that sifts through the content and turns your documents into datasets. This unlocks new insights that allow our users to empower themselves and align their businesses for growth.”
Metalens is another aspect of Revv’s intelligence layer used to understand document structure and compare and review contracts with current industry standards. Businesses can identify their risk profile and footprint in half the time, with half the resources. It helps to get a grip on the intent of business documents and ensure your business objectives are met.
With Metalens, users can –
- Extract all the important entities (in one document and replicate the system for all other documents)
- Fill up a form using datasets (also known as metadata in the product) or use this data to set up workflows
- Automatically tag and identify the potential discussion points of a document
- Create new documents using the same saved datasets (metadata)
- Create business-specific dashboards to track all relevant information
- Unearth the real intent of the clauses
Excited about this new feature, Sameer Goel, co-founder, adds, “The impact of this intelligent layer is clear and immediate as it is able to process complex documents with legalese and endless text that’s easy to miss. It can process unstructured and structured document data even when datasets’ formats and locations change over time. This machine learning approach provides users with an alternative solution that allows them to circumvent their dependence on intimately knowing the document to extract information from it.”
Revv’s new Metalens feature gives its users the speed and flexibility to generate meaningful insights and accelerate business outcomes by putting machine learning front and center. It quickens the review process and makes negotiation smoother. It brings transparency that helps reduce errors and lets users save time and effort.
Metalens is part of Revv’s larger offering designed to simplify business paperwork. Revv is an all-in-one document platform that brings together the power of eSignature, an exhaustive template library, a drag-n-drop editor, payments and Gsheet integrations, and API connections. Specially designed for owner-operators, consultants, agencies, and service providers who want a simple no-code tool to manage their business paperwork, Revv gives them the ability to draft, edit, share online, eSign, collect payments, and centrally store documents with one tool.
Backed by Lightspeed, Matrix Partners, and Arka Ventures, Revv was founded by Freshworks alumni Rishi Kulkarni and Sameer Goel in 2018. With operations in Silicon Valley and Bangalore, India, Revv is designed as a document management system for entrepreneurs. As of now, Revv has more than 3000+ businesses trusting the platform and is poised for even greater growth with features like attaching supporting media/doc files, multi-language support, bulk creation of documents, and even user groups.