Infrrd AI Enabled Intelligent Document Processing for Complex Documents

  Artificial Intelligence Machines learn like humans “Just think how we have learned to understand something, or how we have learned to infer something,”. “That’s the evolution of intelligence a human being has, the same thing happens with a machine, also, so slowly they start learning things, slowly they start understanding things, and in that way, they can start inferring things, and that inference is what can lead to machine learning, or we can say,  artificial intelligence .” Priya Thampi ,  VP Engineering Explains – Why customers believe in  Infrrd ’s  approach and how Infrrd’s technology is making a difference from others. READ MORE

Data extraction  from unstructured documents is a complex  task.We  can overcome this problem with help of Intelligent Data Processing. Data Extraction From Complex Documents Benefits of Infrrd’s Intelligent Data Capture platform: Effort Reduction:  The IDC platform is well-equipped with cognitive capabilities that makes self-learning feasible and adapts different layouts, configuration, rules, or templates. This saves a great deal of effort. Time-saving:   IDC solutions  can process graphs 12x times faster than humans letting employees work on value-added tasks. High Precision:  Through self-learning, the module learns to become more efficient and reduces human-ridden errors leading to more accurate and faster results. Increased Productivity:  With  IDC  in place, it’s possible to perform graph extraction in less time with reduced errors. This means less double-checking and reworking tasks, leading to higher efficiency and...

Intelligent Document Processing Extracted data and information  are fed into a process. Think  Mortgage Processing, Itinerary Processing, Loan Processing, Claims Processing, RFP Response  Processing, Financial Compliance, Auditing, Expense Management, Invoice Processing, and so on.  Can you extract the full value of data and information from all these 𝗰𝗼𝗺𝗽𝗹𝗲𝘅 𝗱𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝘀? Find out how to make  𝗔𝗜 𝘁𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝗶𝗲𝘀  work for you. Intelligent Automation                                               READ MORE  …….

“Intelligent data capture can achieve up to 95% accuracy and processes 12x faster than manual processing.” While traditional  OCR solution  may still be a better option for a few organizations, it fails to address critical challenges of graph extraction like identifying trends. Moreover, it also fails to address issues such as identifying overlapping graphs or axis scales and labels. Unlike OCR technology, the  IDC  platform is powered with AI-capabilities like  Machine Learning  and Natural Language Generator (NLG) to analyze the full population of data and identify outliers and expectations. It is these capabilities that enable entrepreneurs to draw a broader and deeper set of insights from visual representations. Once all the rules are in place, the data is extracted quickly and accurately, thereby increasing productivity and reducing the number of keystrokes required to perform the graph extraction task.  Intelligent Data Processing Infrrd’...

Automation is an evolving technology that promises to be the biggest game-changer – bringing results that are capable of disrupting a market. It is a breakthrough at breakneck speed, better described as ‘digital speed’.  Audit automation   is changing the nature of audit work, replacing much of low-level ticking and bashing with higher work, concentrating on analysis and judgments that give better insights. It also enables auditors to ask better questions and adding value to the audit process.  Infrrd’s IDC  platform is baked with cognitive capabilities. It covers several interlinked AI-enabled capabilities, such as Machine Learning and  Natural Language Processing .  Originally published at  infrrd.ai To know more about  Infrrd’s  platforms and solutions get a  free demo  from our experts.

When receipts come in different sizes, layouts, and formats, the manual method can break down. Employees can grow bored doing repetitive tasks and become disengaged, leading to unexpected and costly errors.  Worse yet, errors can trigger rework that steals even more of your employee’s time and productivity.  This calls for a smart solution that can effortlessly automate repetitive tasks so employees can spend their time on things that truly matter, doing things that only humans can do well. Modern solutions can also increase efficiency and quality by automatically doing real-time policy checks, detecting duplicate and fraudulent bills, and more.  And the solution is…. Automation. But hold on, all data extraction solutions aren’t the same. For example, consider  OCR . It’s an old but reliable horse in the race of automation and many businesses use OCR today to extract data from documents. But OCR has its limitations - especially when it tries to tackle complex...

Infrrd’s current wave of technologies has tested a multilayered extraction model successfully that employs a suite of advanced  AI-technologies  to streamline the operational process. This is a result of a months-long effort in finding the right composition of technical modules. Following details provide a bird’s eye view to the multilayer architecture and its capabilities. 1. Computer Vision As an intense lens can recognize the objects well and spot loopholes, the vision also plays a similar role. It recognizes and identifies the regions of the document that needs to be extracted. It performs preprocessing operations to improve the quality of the document by distinctly identifying the text, images, stamps, handwriting, etc and make it ready for extraction. Also, the document is classified by understanding the structure of the document pages. Intelligent Data Capture At  Infrrd , we’ve done intense research on identifying various objects on a page/image. Our ...

Infrrd’s AI-enabled platform transforms invoice management by easing the traditional error-prone process. It holds the capability to analyze, extract, and validate data from invoices of different formats and layouts. Additionally, the platform delivers extracted data into any pre-existing tool.  Click here to know more:  https://hubs.ly/H0kyVvd0

When introduced,  Optical Character Recognition software  was considered to be a boon for businesses. Instead of manually transferring data from records, one could now simply extract data from them. Later they can enter it automatically into in-house systems. We can save hours of manual labor but there remains a caveat. Errors introduced during the extraction process remain in your system. Before we recognize and fix the errors it can stall the work for many hours. OCR scanners are prone to fail when one tries to extract data from old documents. Either the fading of the print or the lack of contrast can lead the software to incorrect recognition of patterns. Additionally, most online  OCR software  is designed to work with English as a language. But not everybody uses English as their first language. If you travel to Europe, the script remains the same but the language differs. A smart engine OCR should be able to pick up this difference in language and adapt its...

Infrrd   has some exciting news to share with its users: we have just won two prestigious awards, Rising Star Award for 2018 and Great User Experience Award by FinancesOnline Infrrd OCR  has officially been reviewed and certified by FinancesOnline, an independent SaaS review platform that strives to create unbiased analyses in a bid to help businesses find the perfect solution that fits their unique requirements. Not only did Infrrd OCR garner a positive rating, but it was also certified with the  Great User Experience  award for 2018. The AI technology of  Infrrd OCR , according to FinancesOnline, is capable of efficiently extracting simple and complex data as well as key fields from various types of documents for hassle-free procurement of information. FinancesOnline was impressed that our AI Platform is powerful enough to capture data from IDs, passports, financial statements, custom PDF formats, and even hand-written forms and notes. These ar...

Old school ways of conducting financial transactions are gradually bidding adieu. Automation, AI, and data analytical tools are taking over to ease the workflow. Everyone in the market wants to move ahead to enhance customer experience, deliver value, and obtain market share. So boarding the train of digital transformation has become the first choice for most companies. Now the question is what does it signify for the present and future of this industry? Adapt and adopt, these are the key terms for most companies who are walking in pace with the technological revolution. Finance being the people first sector is shifting its focus to make their customers’ personal lives better and easier. Businesses are prioritizing greater agility and higher quality for their overall process improvements. Some of the changes they are going through are: Making investments on technology which can support or expand their operating models, thereby making their processes responsive, effective, and digita...

WHAT IS OCR? Data entry can often turn tedious and inaccurate if done manually. But, you can avoid this cumbersome process with an automated optical character recognition software. What OCR does is, it uses machine learning to scan each character on a page individually. It allows the documents to upload as text documents instead of images. We could scan easily and promptly any kind of printed document, be it receipts, invoices, contracts, utility bills and much more with this solution. HOW IS INFRRD’S OCR DIFFERENT FROM TRADITIONAL OCR? Our  OCR solution  is different in two ways: We don’t use templates but NLP for recognizing entities in a document. This helps us identify business names, bank details, amounts, prices etc. irrespective of where they occur in the document. Read more  here  on why templates are a bad idea. We use Machine Learning to fix what traditional OCR’s cannot figure out, by building an automatic context around the...