Infrrd AI Enabled Intelligent Document Processing for Complex Documents

We entered 2022 with focused goals, an industry-driven product roadmap, and a futuristic perspective. As we kick off this third quarter, we remain focused on providing you features to help our users reap the best results from our Intelligent Document Processing (IDP) platform. Here are some of the major features and enhancements from our latest release. Business Rules for Document Processing Infrrd's IDP solution now provides options in the user interface to perform derivations or calculations on extracted data to transform them based on your individual requirements. Users can achieve this by configuring business rules. Previously, contacting Infrrd’s customization team was required and now, some of these capabilities are available from the IDP user interface. This will result in significant time savings as available business rules can simply be configured and managed within the Infrrd IDP platform rather than routing it through the Infrrd customization team. Read more about this f

Inside this eBook is a detailed guide to understanding Infrrd’s 100% document accuracy offering. With less than 100% accuracy, you will still need manual review and corrections. Even if an IDP solution offers as high as  95% accuracy, this still only results in a 50% efficiency gain from the process. 100% document accuracy offering completely eliminates the need for manual work resulting in 100% efficiency gain. It allows your business to divert precious human resources for higher cognitive tasks while bringing down processing times and processing cost per document. This eBook covers topics including: •  Understanding what difference accuracy makes to your processes •  What is 100% document accuracy? •  How does Infrrd deliver this? •  How 100% accuracy transforms document processing Download eBook

  Welcome to the second post in the Ask Infrrd series - your platform to have an honest, candid conversation about everything related to document data extraction. In this series we answer frequently-asked questions for our IDP experts or that we receive at  hello@infrrd.ai . Here, we answer another question about Mortgage processing. Q: Why are many mortgage companies unable to find an effective OCR partner who can show results? A:  Before we delve into the answer, let us take a step back and learn more about why OCR solutions have struggled to deliver effectiveness for most industries, not just Mortgage. OCR technology was designed to solve a different problem than data extracting. OCR was a means to convert images with text to digitized text that can be read on a computer. If we are only considering this function of OCR, then I would argue that it has done a phenomenal job and come a long way since it was originally created. OCR engines of today can read very low-quality images with

  The Great Resignation and Data Entry Jobs There is no doubt that COVID-19 changed the world dramatically during the past two years. It has also set the “Great Resignation” into motion. According to  Pew Research , the “quit rate” in the U.S. reached a 20-year high in November 2021. With this vacuum for talent, many companies have started changing their criteria for entry-level technical positions. This resulted in quite a few data entry candidates quickly moving into entry-level IT roles. Hiring and training a manual data entry team efficiently is no longer easy in today’s ever-changing work environment. Most companies struggle to hire, manage, and upscale their data entry teams while facing a churn rate of 50%-60%. To reduce their dependence on manual labor, most businesses seek out an automation solution. The first hurdle is figuring out the mix of and determining the balance between automation and human effort. For example, if a business spends $50,000 per month processing documen