At Docmatic, we’re working every day to try and build a great place to work for company employees, especially those who have to work with company data, people we like to call the “knowledge workers”. Knowledge workers are those who will be up to their necks in data for excellent reasons but very often, navigating around all this data can be a source of stress and long hours of tedious and repetitive work. We understand this work, and we aim to revolutionise it by bringing more efficiency and time to all knowledge workers, particularly those in the legal field.
Our motto is “Analysing legal documents shouldn’t be that hard”. We develop innovative methods of analysis to assist companies in managing challenging business and legal documentation. We also help them extract crucial data from unstructured and complex documents, like legal acts, financial reports, contracts, news and more.
Our new product, DocMatch, is a comparison plugin that determines the level of similarity between documents, like agreements, contracts and NDAs. DocMatch uses original AI models developed over the last two years. These models analyse the documents and then detect and locate the semantic and contextual similarities and differences. All our solutions are meant to improve the work environment of our users. To automate time-consuming and mind-numbing tasks and release their creativity.
What do you think makes this company unique?
We are a young AI company founded in 2018, and as a start-up, we have the creativity and the flexibility to adapt our offer to the market’s needs. That’s where our real point of difference comes from, the time we put into creating the best quality technology. We pushed the boundaries as we developed computing models that can understand the meaning of a sentence, whatever the writing style, whatever the wording, thanks to a grant from the Fast Track programme run by the European Union and the Polish National Centre for Research and Development.
As a company, our objective is to democratise automated AI solutions. We want to be the first line of support for legal processes. From developing products to help control data in legal, compliance and risk management documents to reducing the time workers spend interrogating data and trying to find answers.
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How has the company evolved over the last couple of years?
In 2018, our company was involved in a project to analyse hundreds of proxy statements. Our client asked us to extract different types of information; meeting dates, management board names, salary figures, and claw-back policies. The estimated cost of the project was crazy. It was a 2-day, 2-person job.
At the time, the market for data extraction solutions was insufficient and disappointing. So, our team developed a model capable of analysing all our client’s documents in one go. We shortened the time needed to one hour and boosted the accuracy to 93% (a 25% increase compared to doing this manually) for just a couple of thousand euros.
Today, we continue to develop our offerings around solving this same problem with our new catalogue of plugins. Our goal is still the same: more efficiency, more accuracy, less time and less money. With DocMatch, everyone can use the best of our technology for under a hundred pounds a month.
What can we hope to see from DocMatch/Docmatic in the future?
What would you like to see?
In all seriousness, we’re only just starting. With DocMatch, we’ve created a Google Drive (and soon-to-be Microsoft) plugin offering innovative text analysis to everyone. Tomorrow, we will develop a solution to read and analyse any contract (B2B, HR, corporate) to help ensure you sign the best possible agreement. Our suite of plugins will bring access to easy-to-use and easy-to-understand LegalTech solutions to a much broader audience, levelling the law field for everyone who needs it.