Infrrd AI Enabled Intelligent Document Processing for Complex Documents

  Enterprises roll out an  Intelligent Document Processing  (IDP) system to either scale their operations or cut down on some costs. Irrespective of what they choose, they need to figure out what will help them achieve their goal. Should they aim for higher accuracy or a reliable confidence score? This is like The Matrix red pill / blue pill situation. Pick one and your world will change forever, or pick the other and go back to business as usual. In our experience, dealing with some of the largest enterprises in financial services, the focus is usually on accuracy. Most companies think that if they get 95% accuracy, they are golden. Everyone believes that higher accuracy means lower costs, faster turnaround and better scale for their business. While this is not entirely false, it does not address the complete picture.  Let’s take a closer look. The problem with only using accuracy On the surface, accuracy looks like a good measure. You would be hard-pressed to think...

Infrrd was recently recognized by Everest Group as a Star Performer and Major Contender in the consulting and research firm’s “Intelligent Document Processing (IDP) Products PEAK Matrix® Assessment 2021.” It’s exciting for us because it highlights our momentum and market impact. We’re very proud of both, and delighted to be part of an industry that’s exploded as the need for automation became blindingly clear.  Read the complete article

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   👈

Intelligent document processing 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.  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 The eBook To know More 😁 https://hubs.ly/H0rq_Lk0   

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  

We sat down with Amit Jnagal, Founder/CEO, to find out more about where Infrrd came from and where it’s headed.  Infrrd pivoted to financial services and used our understanding of harnessing unstructured content to tackle different business problems. We had built powerful AI capabilities, and this was a great way to use them. We just had to decide where to focus and  what customer problem to solve.                               READ MORE

"My Best Advice For Buying Enterprise Automation Software" Know Your Problem,  Find Your Best Solution (Ask Ben how) The biggest mistakes clients make when selecting a  vendor … We sat down with Benjamin Cornforth, VP of Worldwide Sales at  Infrrd , to find out more about the buyer journey and mistakes clients make. As an industry veteran, he had lots of tips to share. And Here’s How: Get Machines Involved For the first time, technology has come far enough to start to solve more sophisticated business problems, starting with back-office accounting processes . The  procure to pay process   is just one example, as it requires the ability to pull data out of different documents and make sure they match before a check goes out. “Today, a human references those manually, types them into SAP or Oracle, and spits out an approval. So that’s what we’re trying to solve for.”  Buyers can do more, better, for less money. “What they’re able to do...

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

Enterprises today have no time or resources to waste. To be successful, they have to make smart choices when it comes to maximizing efficiency and innovation to stay ahead of the competition.  AI  is offering new and exciting ways to make better, more informed business decisions.                                          READ MORE

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