Infrrd AI Enabled Intelligent Document Processing for Complex Documents

  A Gartner analyst takes 20 calls a month on OCR and   Intelligent Document Processing  from enterprise buyers looking to make their next moves. We asked him what they’re looking for in a  data extraction solution . And he said, “solution accuracy.”  Here’s why: Vendors aren’t generally willing to provide this most critical metric. Instead, they say, “it depends.” They don’t want to commit, which is unsatisfactory to the enterprises who have real money on the line.                                    READ MORE

Nikunj Sanghvi , Infrrd’s VP intelligent automation, is passionate about helping businesses improve their speed and efficiency. He likes being part of a team that offers tailored solutions to clients interested in optimizing and transforming their processes, and says its Infrrd’s patented technology, the ability to increase accuracy and throughput, and industry-specific integrations, that make it possible. “We help them unlock their data, so that they can use it to run their businesses smarter,” he says.                    READ MORE

Rindegastos , a Chile-based cross-platform application that digitizes the expense reporting process, had a problem. It needed to process receipts from Chile, Argentina and Peru, but being able to read the data from different countries and detect which country the receipt was coming from turned out to be a tall order.                              READ MORE   ........

Expense reporting has always been a hassle. There are receipts to keep, loads of dates and amounts and details to enter — but people do it, because they like to be reimbursed for the money they have spent on company time. Nobody really likes manually filling in the forms required to get their money back, though.  Infrrd  helped the company unlock data hidden in its clients’ unstructured documents, which meant less of a need to ask end-users to fill out fields. It also meant less opportunity for people entering the information themselves to make mistakes, so less need to spend time fixing them.                                          👉    READ MORE....

Intelligent document processing AI is powerful stuff—but technology alone won’t create business value. In fact, building good, useful AI with its accompanying technology is really only about 30% of the challenge.  Taking advantage of its power is the other 70%.  A project needs to both create AI insights and use those insights to move the needle.   The 70% rule of thumb is a good reminder that both the business and technical sides of your company need to work together to successfully transform your processes.                                  READ MORE   👈

5 Tips for Beating the Bottleneck Document complexity  can be a drag if you’re unable to address it with the technology and the people you have working with you. The systems you have in place may not be optimized to extract data from unstructured documents. That leaves your internal, back-end processes lacking, and has everyone working exponentially harder to try and dig out the data your system can’t see. Improving your accuracy and throughput is critical, however, to make sure document variation doesn’t stop the show.  Here are five ways to address the bottleneck document variation can cause, including tips for using these variations to make your company more competitive in today’s incredibly nuanced business environment.                                             READ MORE  

Intelligent document processing If you run operations for an insurance company, it’s time to rethink your priorities. The people and technology you’ve had until now can’t stay static, or you’ll be left behind as digital transformation reshapes the industry.  Claim processing is the need of the hour. Find out why and how you should transform your claims experience. Check out the Insurance Use Case Originally published at   infrrd.ai  

Do you believe AI can do everything? Find out some of the reasons why AI cannot make Chai / Tea. Check out Interesting video : #AI #artificialintelligence #machinelearning #deeplearning #intelligentdocumentprocessing #Intelligentdatacapture #IDP #Intelligentdataprocessing #digitaltransformation #ml #NLP

Intelligent Document Processing Intelligent Document Processing  ( IDP ) is  rapidly emerging  as a category of solutions that help you extract data from the documents that drive your business- like  insurance claims , mortgage applications, contracts, purchase orders, invoices, engineering drawings, and so on.   Download the Executive Guide to IDP Many vendors offer IDP products, but they’re all quite different so the landscape isn’t easy to navigate. The category itself can go by different names. Some call it  Cognitive Document Processing . Others call it Intelligent Document Capture (IDC). Some even refer to IDP solutions as  OCR  or  Machine Learning OCR  … which is very misleading.  To keep it simple, we’ll stick with IDP in this post so we can help you make sense of it all.                                       READ ...

  Does your firm run on data insights? Find out how an investment advisory firm automated data extraction from complex, unstructured financial reports using Intelligent Document Processing (IDP).                                         READ MORE

Intelligent Document Processing  is an important part of today’s technology landscape. It’s drawing increased attention as part of an ecosystem that’s allowing enterprises to move beyond OCR and automate more complex processes. Analysts have floated expectations that  IDP will eventually replace OCR , and are paying special attention to both the overall market and the players positioned to move it ahead.  Download the Everest report here →                                                READ MORE

If data is the new oil then accuracy is its Octane Number. Companies may have hundreds of disparate sources of data – spreadsheets, documents, receipts, invoices, RFP’s, financial reports etc. , if not scraped through accurately that would be a major show stopper. Manual scraping is time consuming and laborious, while un-intelligent  data extraction  tools will require human intervention to monitor and make corrections. Need of the hour is an Intelligent Data Capture platform that drives contextual accuracy like a human . Accuracy is one of the most important aspects of data extraction. Originally published at  infrrd.ai  

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. The following details provide a bird’s eye view to the multilayer architecture and its capabilities. Originally published at  infrrd.ai  

While conventional  OCR engine  is considered as a mainstay platform and might seem like the end-all, be-all solution for capturing data. It can be frustrating at times when the data is misread or not even be read. Inputting a document into an OCR doesn’t mean that it will actually output something without a hitch- forcing knowledge workers to manually work. Why does OCR fail? Many OCR engines fail to support and understand the complexity of the input data in a given document. For example, if the input document is a form then the OCR might identify the text but may not recognize text over a line or the text in blocks. This may result in unexpected output. Originally published at  infrrd.ai  

Many multinational companies today, face the most significant revolutionary change in the realm of technology. Namely, conversion of paper documents to digital and the inability to leverage data ensnared inside scanned documents and images. Relying on data trapped inside documents and manually re-keying them can land businesses into a bottleneck situation. Therefore, the need for an automated solution to segment and extract document elements is high.  Originally published at  infrrd.ai  

Whether you’re presenting an annual report, comparing sales figures, or highlighting a trend, visual representations such as graphs or charts are a great help to understand data elements quickly. However, in today’s hyper-interactive world, it’s hard to understand why data still continues to be represented as colorful graphs. These data trapped visual representations that cause restrictions in harnessing the data or make better decisions. Originally published at  infrrd.ai  

Whether qualitative, quantitative or temporal dataset, a tabular presentation has always been a systematic yet logical way to represent data. As data increases at unprecedented rates, the struggle lies in binding data-enriched tables to paper-centric sources. Also, the difficulty with these paper-centric documents is that it limits the capability to automatically extract and interpret insights computationally for future use. 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...

There’s  tremendous value  trapped in your unstructured data, complex documents, and images.  Extracting it manually is slow, expensive, and doesn’t scale well.  OCR has its performance limits and eventually hits a wall.   How can you  remove this bottleneck? This new  AI-driven  approach to data processing can do far more than OCR.  What is IDP?  Why is it different? When is it better? Is it right for me? This ebook is an executive guide to  Intelligent Data Processing , a new AI-driven solution that can  unlock the data  you need to drive intelligent automation and improve business processes.   Intelligent Data Processing Get an overview of IDP, explained in simple terms.  Learn what it is, why it’s  fundamentally different from OCR , and how it can be applied to remove bottlenecks in your business. Includes three examples of  typical use cases .  Download Now To Know More : ...

How AI can Solve your OCR Problem The success of your  Intelligent Automation  strategy depends on your ability to extract necessary data from paper-based documents such as contracts, manuscripts, books, invoices, receipts, etc. and convert it into machine-readable text.  Unless you want a manual data entry bottleneck in front of your whole automation process, step one of your automation strategy should include the automation of that data extraction process.                                         READ MORE