Class 1 Railroad Company Gets an All New Technique for Contract ComplianceCONTACT US
A Class 1 railroad company has rail tracks in North America that provide freight and passenger train services covering most of the United States of America.
“Brightleaf far exceeded our expectations and delivered Six Sigma results on millions of data points.”
– Senior Manager
Problem Faced by Client
The company always intended to digitize their legacy contracts to better manage their contractual obligations hidden in thousands of contracts. Some of the contracts were hard to trace owing to the large pool of physical documents and they knew that with the passage of time, this problem would only increase.
It was hard for the employees to dig through these files every time for the information required as there were about 500 thousand legacy contracts, some of them even date back to 19th century.
Before approaching Brightleaf, the company had no idea how much revenue is hidden underneath those legacy contracts. There was no clue which track maintenance contract was due and in which its maintenance obligation was expired.
Due to this turmoil, they started looking out for a reliable vendor to help them with this urgent business need. They did an extensive market research and zeroed in on Brightleaf, relying on both Brightleaf’s goodwill in the market and customer references.
Solution Provided by Brightleaf
Brightleaf sat with the company’s business process owners for several days both onsite and offsite to understand the business requirements. Brightleaf using its proprietary software, own people and own process extracted vital information from their contracts ranging from Industrial Track Maintenance, Rail Crossing Agreements, to Haulage and Real Estate.
After business process owners approved Brightleaf’s understanding of their business requirements, Brightleaf customized its engine using Natural Language Processing and other semantic techniques to automate the extraction of metadata information from each type of contracts. With a team of experts and following six-sigma methods Brightleaf delivered a high-quality error-free data.
The Project not only helped the company manage its obligations better but also assisted in tracking its lost revenues. Company realized that, some of these legacy contracts were not billed for years. There was huge revenue realization after Brightleaf analysed the documents and provided the information to the company.