Is your organization ready for Artificial Intelligence (AI)?
As the influence of artificial intelligence increases, the gap between businesses taking advantage of this technology and those who don’t continues to widen. But what organizations don’t realize is that AI and robotic processes can be utilized in just about every business process.
If you’re looking to save even more time with automation and improve your existing processes our intelligent data capture AI is the perfect fit – whether you are capturing AP invoices, sales orders, medical claims or any type of document with no common structure.
How we utilize AI
Artificial Intelligence is best utilized through our Intelligent Data Capture solution. This solution is paired alongside our smart Document Management system and takes your content management beyond simply a digital filing cabinet.
What makes SMART OCR so special?
It takes unstructured data that would typically require a human to manually discern and off loads it to software which structures it, so decisions and data entry can be done without any human work!
Most businesses require someone to sort, key in data from an image into their ERP, manually match to the P.O. and receiver, handle exceptions on quantity or price, route for approval on paper with no visibility and then finally file away in a file cabinet.
Our solution leverages automatic classification of document type (e.g. invoice, sales order, etc.) automatic separation of documents based on variable metadata value such as change in invoice number, page 1 of x, etc. as well as automatic extraction/indexing of structured fields such as invoice number, PO number, vendor name, line items.
In most cases matching and routing can be done with little to no manual intervention, and only requires your involvement when an exception occurs, freeing up significant hard labor costs.
Typically our best OCR use cases are within Accounts Payable, due to the volume, commonality of terms (invoice number, invoice date) and amount of data entry required for routing, matching and entry into the line of business system of choice.
No matter how you enter data, you can automatically classify documents and apply custom rules to extract the data needed to drive critical business applications. Intelligent Data Capture helps organizations to move beyond basic document imaging and content management toward business process automation to increase productivity and reduce costs.
What is OCR?
There are many types of OCR (optical character recognition) on the market. Content search OCR, zone OCR, semi-structured OCR, and image based, unstructured recognition (SMART OCR).
PiF utilizes unstructured data capture, which assumes batch capture of many documents at once, as well as document types where data elements are in different spots.
The solution finds relevant metadata using a few unique technologies:
- Image based recognition – the system can auto learn based on where it sees a logo and other data elements (for example, invoice number, total amount, etc.) it’s quicker than full page OCR where the system looks strictly for pre-determined labels.
- Synonyms – ability to create a knowledgebase of common terms like “invoice number”, “inv #” and every permutation to identify and extract values.
- Spatial Relationships – primarily with line item and table extraction, we look for common synonyms near one another. So, if the software sees quantity near description near unit price, it typically identifies a table. Additionally, when the software looks downward in each column and then across in a row and sees values, that typically indicates a row of data. If a data element is not under the column, the system can deinterlace the line items and flag following lines that may be a description and not a new row.
You can automatically classify documents and create “rules” for the AI to extract the necessary data that drives critical business applications. By adding an Intelligent Data Capture AI you can move beyond simply document imaging and content management to business process automation to increase productivity and reduce costs.
- Intelligent data capture simplifies and speeds up processing of documents in demanding high-volume environments
- Routing and matching documents such as invoices, POs, medical and insurance claims and sales orders takes less time allowing you to focus on your core business
- It was designed using Microsoft .NET and a Services Oriented Architecture (SOA) which allows it to scale up for Enterprise level On-Premise deployment or be used as a CLOUD based SaaS solution