Utilizing machine learning and modern technologies, CCM leverages structured and unstructured data to generate new business insights.
The more an organization grows, goes online, or globalizes, the larger the role of contracts in the organization. Therefore, the ability to systematically manage contract creation, execution, and analysis is central to risk management, financial performance, and operational efficiency. Yet, organizations across all industries typically face two challenges related to the management of contracts in their organization; ineffective processes and costly support.
KPMG Cognitive Contract Management (CCM) is a tool that leverages KPMG’s modular cognitive capabilities to ingest, analyze and automate decision making across the contract management lifecycle to address these problems. A range of artificial intelligence “building blocks” proprietary to KPMG enables the system to read and understand invoices and contracts, and compare them back to reference data.
CCM’s customizable workflow is one that ingests source documents, performs pre-processing and data extraction, undertakes cognitive document analysis, and outputs the results of the analysis into a client defined format.
CCM helps organizations to address the following challenges:
Our partnerships with leading cloud service providers - and the versatility of KPMG Ignite - allow us to integrate the best-performing technology for the case at hand, as well as provide access to technology roadmap offerings.
Built on the KPMG Ignite platform, Cognitive Contract Management (CCM) leverages KPMG’s modular cognitive capabilities to ingest, analyze and automate decision making across the contract management lifecycle.
KPMG Ignite includes methods, tools, approaches and resources that focus on improving the consistency, efficiency and time to make decisions and take action. In addition, we wrap this portfolio with highly-skilled resources who apply relevant domain knowledge to leverage these capabilities and continue to innovate on emerging technologies.
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