Documents, whether administrative or technical, are central to many organizations, businesses and institutions. Extracting and processing the data contained in these documents can be a complex and time-consuming process. For example, how much time have you or your teams wasted manually entering invoices? Fortunately, thanks to advances in technology, Intelligent Document Processing (IDP) offers effective solutions to this type of challenge.
Automatic document processing makes it easier to find and access relevant information, through faster sharing and categorization of extracted data. It also reduces the cost of processing information, while minimizing the risk of human error. To implement IDP, you need to turn to solutions that use different technologies such as natural language processing (NLP) or optical character recognition (OCR).
Docloop, a company specializing indocument workflow automation, offers you this type of solution and answers all your questions about TID and data extraction in this FAQ.
Automated document processing is based on the use of different technologies to capture, extract and process the data contained in documents automatically.
- Optical character recognition : OCR technology converts printed or handwritten text into usable electronic data.
- Natural language processing: TLN is used to analyze and understand the textual content of documents. It can recognize specific entities (names, dates, addresses, etc.) and perform document classification and categorization tasks.
- Machine Learning: this technique is used to train computer models to recognize patterns and structures in data. It is applied to automated document processing to improve the accuracy of information extraction and to adapt to documents in different formats.
As you know, there are many different types of document passing within and between organizations. Each type of document may require specific technologies, depending on its structure and content. Depending on the category of document (structured, semi-structured or unstructured), OCR, TLN or a combination of systems including artificial intelligence will be required.
The use of machine learning technologies for document processing
Machine learning plays an essential role in automated document processing. Using machine learning algorithms, systems are trained to recognize and extract specific information from documents. They adapt to new structures or variations in layout. These technologies form the basis of intelligent document processing, which can achieve data extraction accuracy of 99%.
Algorithms are used in document processing for several reasons:
- Extract useful information: in OCR, algorithms are used to convert images or PDF files into editable text. In this way, they facilitate the search, manipulation and analysis of textual data present in documents.
- Automatic data classification: algorithms can automatically classify documents according to content, category or characteristics. This simplifies the organization and subsequent retrieval of data.
- Accelerate processes: using algorithms to automate and accelerate document processing tasks. According to 60% of employees questioned in the Smartsheet survey, automating repetitive tasks such as manual document processing would save them 6 hours or more each week!
In the business world, it is estimated that 80% to 90% of the data generated and collected by companies is unstructured. Algorithms are essential for processing this type of information. That's why they're so important, and why AI's role in document processing is becoming increasingly important.
At Docloop, we integrate the latest innovations in artificial intelligence into our OCR and automatic document analysis software. With our intelligent document processing services, you can increase productivity and reduce costs!
Reduce costs and errors
By using a TID system, you can reduce processing costs by automating the extraction of data from documents. The cost of manually sorting and entering documents varies between €4 and €6. With TIP technology, you pay around 80% less, with a unit cost reduced to €0.50.
What's more, you save time by avoiding manual data extraction, and reduce the human errors associated with this process.
Customization and adaptability
TID solutions are highly customizable. You can customize the artificial intelligence models to process specific documents in your business function, and export the extracted data to any system. This means you can tailor the system to your specific needs and easily integrate it into your existing infrastructure.
Improved data security and compliance
Data security and compliance are key issues for all organizations. Intelligent document processing can help strengthen security and compliance by :
- Protecting sensitive data: the use of artificial intelligence technologies such as OCR extracts sensitive data securely and confidentially.
- Improving authorization and access management : IDP solutions offer features for managing authorization and access to processed documents. For example, only authorized people can access and manipulate extracted information, reducing the risk of unauthorized disclosure or unwanted access.
- Improved data traceability: with intelligent document processing, it is possible to track the entire data processing process, from extraction to export to other systems.
- Optimizing information security: IDP solutions incorporate advanced security mechanisms to protect data throughout the processing chain (data encryption, user authentication, etc.).
Taking advantage of these benefits couldn't be easier! Just contact us and try out our intelligent document processing software. Our 100% European solutions have been tried and tested by many companies. We keep abreast of the latest innovations to offer you the most comprehensive and efficient TID service possible.