KPMG’s AI-Enabled Contract Case Management Platform

By automating repetitive, rule-driven processes with KPMG’s AI-enabled contract management and case management platform, you have the ability to realize lower costs, greater accuracy, rapid deployment, improved compliance, and higher customer satisfaction. We invite you to consider KPMG as your AI and case management partner for contract management and watch this end-to-end overview of a LIBOR contract management process.

The retirement of LIBOR in 2021, changes associated with Brexit, regulations around initial margin, and procurement contract management are all forcing companies to repaper contracts.

Scrutinizing contracts is time consuming and difficult to manage on a global scale. Any change entails reviewing all in-scope contracts to determine the right transition path. When done manually, this places a heavy burden on finance, legal, and operations teams.

To address these challenges, KPMG brings together two assets to automate contract analysis and remediation:
• Ignite is KPMG’s global artificial intelligence platform. It enables KPMG to rapidly process and interpret large volumes of contracts and other types of unstructured data using state-of-the-art machine learning and natural language processing.
• Appian is a low code, application development platform that accelerates the creation of high-impact business applications.. Appian is a fast path from idea to application, enabling document sharing, customizable business rules, real-time reporting, and powerful process management..

This demonstration gives an end-to-end overview of a LIBOR contract management process.

Ignite begins by ingesting documents at scale, regardless of file format.

Some of Ignite’s market-leading capabilities include:
• Reasoning over documents and interpreting linkages between them.
• Deriving a consolidated view of contractual terms and document lineage.
• Linking contracts with amendments and distinguishing between various versions of the same document.
• Applying data quality business rules to identify missing pages, handwritten passages, and cross-referenced agreements.

In multiple client engagements, Ignite has achieved accuracy levels higher than human experts and other software approaches.

Users log into a landing page connecting stakeholders from legal, operations, project management, and client services. Each user’s journey can be configured to your specific requirements.

Here, the authorized legal user checks her dashboard for visibility into a contract’s origin, related amendments, key statistics, and required changes provided by Ignite. It also shows the specific tasks she must address today.
First, the legal user views the contract record that Ignite has extracted. She examines supplemental information such as the governing law, related agreements, and more.
Next, she approves or changes the amendment template recommended by Ignite based on predetermined business rules. Once the legal user has made changes to the template, the task is sent to Operations.

The Operations user receives a notification to send an amended contract to the client. He chooses an email template and customizes it by communication type and client outreach trigger—in this case a LIBOR adjustment.

In addition to contacting the client, the Operations team sources updated or missing contracts and ensures any updates are logged in Ignite’s automated system of record.

Appian provides no-code integration with CRM systems to preserve accurate contact data and minimize bounce back emails.

The Project Manager views the progress of the program by each line of business. He also examines risks, issues, and budgets.

Appian Records unifies data and presents a configurable dashboard for visibility and real-time, robust reporting. This data is reported to internal stakeholders and external regulators.

You can also integrate a ChatBot to query policies. This provides an interactive way to deliver information so users spend less time searching for answers.

By automating repetitive, rule-driven processes with KPMG’s AI-enabled contract management and case management platform, you have the ability to realize lower costs, greater accuracy, rapid deployment, improved compliance, and higher customer satisfaction. We invite you to consider KPMG as your AI and case management partner for contract management.