Advantages of Using IDP (Intelligent Document Processing )
Do you know companies lose 60% of their valuable time doing data entry jobs or extracting data from different types of documents like invoice, scanned PDF, ID card, loan processing etc
I think you better be having beer at a beautiful beach.
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.
Automated document processing or rather Intelligent document processing is a process of seamlessly extracting data from documents which 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 but with time the system will evolve and will be more accurate using artificial intelligence.
Document extraction involves a step-by-step process for extracting meaningful data from documents , though no system can claim to be 100 % accurate but with time the system will evolve and will be more accurate using artificial intelligence.
Below are the steps :
Preprocessing of data :
The data can come in various formats, shape , size and may have colour variations. This data needs to be preprocessed to get to a readable format like removing noise , increasing contrast , correcting skewness ,auto cropping of region etc. After this step is done the data is in a more readable state.
Algorithmic Training :
This step involves training a deep learning algorithm and a NLP engine using labelled data to look for curated data within the document which needs to be extracted from the document. After the data is being trained the algorithm is tested with sample documents which are not trained and the accuracy is measured.
Extraction :
For the extraction open source libraries like Tesseract , Google vision API , Amazon Recognition are used for data extraction from different types of documents.
Developing API :
API stands for application processing interface , all these steps are integrated into an api and is hosted to a server where these documents can be processed with the help of a single url. The data extracted can be validated through a system or can be directly integrated to any ERP system.
Non Templated format :
We do not use any template driven algorithm for extraction which makes the algorithm robust for different kinds of documents . Template driven approaches are not scalable as business keeps evolving , you have to write new rules for different documents to get it extracted.
Time saving :
So if it comes to time saving you will have more time to do more meaningful stuff , the system is capable of processing large volumes of documents within seconds. How you will feel if it’s done manually?
Accuracy :
The documents are accurately processed so that you do not have to spend a huge time to validate the accuracy.
Schedule a call for a free consultation on Document Processing at scale .