Verifying payments on lease contracts through data accuracy
After doing an audit of their 50,000 cell sites, this large wireless network operator needed to find out whether they’re paying the right amount of lease payments. They wanted to ensure that they remained profitable and that their costs are tightly controlled. The company hired SVI to find out the answer they looked for. For this project, SVI recruited and trained a combination of 500 paralegals and lawyers to complete the task. These people were taught how to interpret a provision the same way so that the extracted data was always consistent. Teaching the professionals became a challenge, so we decided to come up with interpretation rules per data field to be extracted. We also had to ensure that all the paralegals and lawyers interpreted the provisions the same way.
Contract Abstraction
The Solution
Due to the data’s importance, the company required 100% data accuracy relating to dollar and date fields. Date fields include commencement, expiration, and notification dates. Dollar fields include cost items such as base rent and rent increase amounts per term, among others. To ensure meeting the company’s requirement, SVI implemented a multi-pass data abstraction process. Four people were tasked to extract the same information and match their output against one another’s. Then, a fifth person corrected any inconsistencies found among the outputs.
The company expected a one-year turnaround time but SVI completed the task in just six months, delivering the 100% data accuracy required. This case study proves the expertise of SVI on data accuracy, a skill we firmly continue to extend to our clients up to now.
The Results
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