Zycus Merlin AI Platform lets you utilize the latest innovation and
techniques around artificial intelligence, machine learning, and robotic
process automation across the entire Source-to-Pay suite. With its
pioneering technology, the Zycus Contract Metadata Extraction Bot will
enable customers to automate a very manual process and provide a high
degree of efficiency and process compliance.
The Zycus Merlin Contract Metadata Extraction Bot has the ability to
identify standard metadata (like Contracting Party, Effective Date,
Expiry Date, Contract Title, Currency, Payment Terms, Contract Value,
Renewal Terms, etc.) and customer-specific metadata from different types
of contracts like commercial and sales contracts, vendor agreements,
leases, NDAs, purchase agreements, SOWs, MSAs, etc. The contracts can be
uploaded as machine-readable documents or even as scanned images, with a
very high degree of accuracy.
The Merlin AI Bot is strongly integrated with the Zycus iContract
application and thus allows Zycus customers to run the bot from the CLM
application or easily take the extracted metadata into Zycus iContract.
However, other customers can also leverage the benefits of Merlin to
integrate the extracted data into their non-Zycus contract applications.
The Merlin iContract Metadata Extraction Bot will have a tremendous
impact on the CLM space as it will significantly reduce the extraction
time, improve accuracy, and enable practitioners to take better
decisions based on well-classified, cleaner data.
“Today AI is used very flippantly in the industry, but what makes Zycus’
AI initiative really stand out is our very significant investment in
people and technology, access to real customers’ data for training, and
our deep understanding of the domain,” says Kanishka Ghosh, Director
of Product Management at Zycus.
About Zycus Inc.
Zycus is a leading global provider of end-to-end Source-to-Pay suite,
and has been cited as a ‘Leader’ for the 4th time in a row in
Gartner’s 2018 Magic Quadrant for Strategic Sourcing Application
Suites.
The comprehensive product portfolio for Zycus includes applications for
both operational and strategic aspects of procurement. To learn more
about Zycus, visit http://www.zycus.com/.
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