Microsoft’s Finance team has implemented advanced technology to streamline workstream prioritization and automate qualitative assessments. The team, responsible for reviewing the company’s major customer contracts, faced increasing complexity and time demands as the contract portfolio expanded. To address these challenges, they leveraged Microsoft Azure AI technologies to automate document processing and contract review.
The solution, developed by Microsoft’s Intelligent Transformation Finance (ITF) team, uses Azure Cognitive Services, including Form Recognizer, Optical Character Recognizer (OCR), and Translator, to analyze and assess contracts. This platform enables a preliminary review of documents, providing insights and facilitating global coordination and prioritization. By automating these tasks, the team achieved significant time savings and enhanced operational efficiency.
Key benefits of the solution include improved accuracy in contract assessments, seamless integration with existing systems, and scalability across different document types and languages. It also supports continuous improvement through machine learning capabilities, ensuring ongoing enhancements and adaptability.
The implementation underscores Microsoft’s commitment to innovation in finance and highlights the scalability and effectiveness of Azure services in transforming document-intensive processes. The platform’s design principles prioritize scalability, continuous improvement, and broad applicability across diverse organizational needs beyond contract management.
Overall, Microsoft’s use of Azure AI and machine learning demonstrates a model for leveraging technology to drive efficiency, compliance, and innovation in financial operations.
