In the accounting industry there is a lot of manual work like accounting data from documents, text extraction or data extraction from images and many more. And all these manual works needs to be 100% accurate.
Manually going through bundles of data and then processing it manually is nothing more than waste of time. Instead of doing this, you should automate all these task with the help of OCR. OCR accounting is the most efficient way to get the most out of your accounting tasks.
Dr Kai-Fu Lee quotes ” I think AI is coming and replacing routine jobs is pushing us to do what we should be doing anyway”.
Exactly this is something I’ll try to introduce you with. An AI tool that can replace your files and data-driven work by automating it. And that will increase your productivity by multiple times. The better you understand it, the better it’ll be for you and your business. Every smart one out there is adapting this technology very fast, and now it’s high time for you not to waste your time in those time taking tasks that can be easily done by machines.
In this 3.0 revolution of technology, what matters is how fast you automate your manual work? This will not only lead to making the new tasks easy but also this will increase your productivity by multiple times percent. We all know that this era is shifting swiftly to next-generation technology and AI. Combining with deep […]
Automated document processing or rather Intelligent document processing is a process of seamlessly extracting data from documents that can be easily dumped into an Excel sheet or can be directly integrated with an ERP system using API.
Document extraction involves a step-by-step process for extracting meaningful data from documents, though no system can claim to be 100 % accurate with time the system will evolve and will be more accurate using artificial intelligence.
We will specifically look for the features and comparison where you can do document processing at scale. Most of the RPA software lacks great OCR engines, either they integrate with 3rd party OCR solution like Google vision, Amazon extract or other OCR which makes your data vulnerable to be shared with 3rd party service.
The switch from manual indexing to an automated OCR process by itself would have resulted in a reduction in the resources required to onboard data. Additionally, it would have reduced errors and omissions introduced by manual data entry from five percent to as little as two.
Let Docextractor help you do that. Docextractor uses state of the art algorithms to extract curated data from documents like invoice , receipts , id card , shipment data , loan processing data etc.
Docextractor algorithm is battle tested to extract date , amount , total purchase , tax data address etc from invoices which is not even template driven .The data extracted can be directly synced to ERP system using API.
Docextractor uses a two way process to extract the exact word you require from the invoice. This includes text detection and text localization which ultimately boils down to extract curated text from pdf, text from image or documents.
ICR uses is called Supervised Machine learning, Supervised learning (SL) is the machine learning task of learning a function that bridges an input to an output based on example input-output pairs.