Document management suite enables companies to turn complex documents into rich data points and insights

Innodata Inc. (NASDAQ: INOD) today announced the launch of docAnalytics(tm), a web-based document analytics platform that enables companies to seamlessly analyze and manage complex documents without the drudgery and expense of traditional human review. docAnalytics is built to work across multiple industries, including financial services, where complex, lengthy documents often require expensive and exhaustive expert review.

With docAnalytics, even the most complex documents are turned into rich data points that conform to industry or proprietary datasets. The data points are then made available within an easy-to-use application enabling complex analysis across a large document portfolio and the ability to downstream data to other systems or stakeholders, including regulators.

The platform is designed for managing complex financing agreements (such as mortgage agreements and leases), trade documents (including shipping orders, bills of lading, and letters of credit), transactional agreements (spanning ISDA, IFXCO, GMRA, prime brokerage, securities lending, investment management and 23 other document types), and fixed income documents (including bonds, prospectuses and indentures). To date, more than 23,000 documents have been digitized, analyzed and ingested in the platform.

docAnalytics' AI-driven data extraction is trained and maintained by Innodata's in-house experts or can be managed by an organization's internal specialists. Furthermore, the entire workflow is easily integrated with an API.

"The ability to transform complex documents into normalized, computer-addressable data is going to empower companies to react quickly and appropriately to an ever-changing landscape," said Jack Abuhoff, Chief Executive Officer at Innodata. "While market participants often invest significant resources in the lengthy process of document creation, typically involving negotiators, lawyers, tax experts, credit officers and compliance officers, they have lacked the right tools to make it work. The result is that when something happens requiring quick thinking - such as a bankruptcy, default, acquisition, a ratings downgrade, or a net asset value decline - firms are faced with slow and cumbersome expert reviews. With our approach, the experts are augmented with true digital data and can react quickly to market events and manage their portfolios of documents proactively."