Infrrd AI Enabled Intelligent Document Processing for Complex Documents

  Invoice processing is critical to the Accounts Payable (AP) department of any business operation. Still, many businesses are stuck with traditional, slow, and inefficient invoice management solutions. If you look at AP processing today, there are a lot of companies processing their invoices manually within their accounting team or with the help of a legacy OCR engine with not-so-good results.  Today, when the world is offering AI-based solutions with advanced capabilities of machine learning and deep learning, what is limiting businesses from evolving? What are the pros and cons of manual processing? What are the first steps towards invoice process automation or Intelligent Invoice Processing? Let us try to find answers to some of these questions. Exponential Processing Time is one criteria used to assess any service today. The faster you deliver results, the more successful you are. Take the case of bank payments. Traditionally, bank payments and transfers were done through...

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 .......

Intelligent Data Processing Automating data extraction from complex documents  has been a challenge for so many for so long. Maybe you tried using OCR to automate data extraction.  It works for more simple documentation.  Perhaps you were successful using cloud tools from Amazon or Google to automating more simple stuff, and figured,  “What the heck, we’ll try that for the complex stuff, too!” Have you ever wondered about  99% accuracy  of data extracted from 𝗰𝗼𝗺𝗽𝗹𝗲𝘅 𝘁𝗮𝗯𝗹𝗲𝘀? Answer these 5 questions to find out.                         READ MORE  ….

It’s a known fact that P&ID’s diagrams are of great importance to the oil and gas industry. They hold critical information concerning the layout of an engineering process flow along with the interconnected types of equipment. Over a period of time, the landscape of handling P&ID diagrams has witnessed a drastic change. With digitization in place, several vision problems were observed such as resolution, orientation, and the existence of noisy textual information. Intelligent Data Capture

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...

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 data extraction algori...