Be it multinational organizations or SMBs or mom-and-pop stores, processing information from documents is a business challenge that hurts all equally. Operational efficiency can exponentially improve a business’s bottom line. It is important that business owners understand the bottlenecks in their current method of information processing.
Banking, Insurance, Healthcare, which are among the largest global industries, typically offload the information processing work to third-world countries where labor is cheap. However, manual processing of information often comes across these challenges:
- Large volumes of data, usually in a thousand different formats, makes processing these documents difficult. A difficult process done slowly leads to loss of time and money, and if done quickly leads to increase in errors, which also leads to loss of time and money.
- Complex validation processes, when done manually, require more time for the final data to be validated.
- Manual data entry leads to waste of time and money. Setting up a functional team for the manual processing is also investment-heavy and slow to show the ROI.
Fast document processing and validation, irrespective of the format or type of document – how can businesses achieve this without investing heavily in manpower.
ICE-Ai Suite brings together AI and Machine-Learning technologies to form Intelligent Document Processing (IDP). IDP was developed to avoid template-based bottlenecks that slow the information processing cycle. Documents, irrespective of the origin and format, are analyzed and understood by software using AI, Machine Learning and NLP methodologies to intelligently capture, process, validate and verify information.
ICE-Ai uses OCR, Artificial Intelligence, Machine Learning and NLP algorithms to accurate identify information from documents without the need to create templates. Upon training the model with the first samples, ICE-Ai can automatically learn and improve its efficiency to ensure accurate data extraction.
With defined business rules, ICE-Ai can learn to make decisions faster from the documents processed. The AI i also capable of identifying anomalies from the data and highlight them to the user before processing.
ICE-Ai’s algorithms are intelligently learning about your documents so that it can make better decisions for you. The Analytics modules also give you insight into your documents, to help you understand them better.
ICE-Ai Suite has the capability to quickly understand a business process it is assigned to optimize. Process steps are easily programmable, and the algorithms are constantly learning with data to improve their performance.
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