Data lies at the core of digital transformation. Yet 91% of respondents in a survey reported that poor data quality affects their operations. Another 2023 Adobe Acrobat survey posits that 48% of people experience struggle to retrieve information from relevant documents. It leads to challenges like error-prone manual data entry, arduous document review, poor scalability, among others.
Read on to learn about the challenges of conventional document processing and how intelligent document processing handles these issues. Explore how Evoke’s Intelligent Document Processing (EIDP) benefits companies to seamlessly extract accurate information from multiple documents, thereby ensuring enhanced operations productivity and efficiency.
Difficulties of Document Processing
Conventional document processing includes several challenges like:
- Time-consuming data extraction process
Manual document processing is a time-consuming and taxing process. For instance, our client from the healthcare in North America faced a challenge with manual document classification, as it was a time-consuming and tedious process prone to human error. From error identification, document data correction to its approvals, the process impacted the company’s overall productivity. - Erroneous data entry
Manual data extraction is error prone. Despite the skillset, the possibility of human errors in manual data entry is ever-present, with issues like data oversight, erroneous data extraction and so on. - Absence of standardization
Ensuring document standardization is necessary to avoid document duplication errors and document security. However, maintaining document structures and format consistency is difficult in conventional data processing. - This significantly impacts on businesses— Citibank faced a $900 million loan error due to clerical errors. In Virginia, absentee applications with incorrect information were sent to 500,000 voters, the reason being incorrect alignment of a spreadsheet. The state paid double for document mailing and printing.
- Scalability restrictions
Conventional document processing, unlike its automated counterpart, takes a significant amount of time to process large chunks of documents manually. This restricts the scalability of data extraction. - Compliance and security concerns
Manual document processing can make it challenging for businesses to stay updated with the ever-changing data security and compliance regulations.
How Evoke’s Intelligent Document Processing (EIDP) Solution Solves the Challenges
The necessity of efficient document handling and subsequent data extraction is vital across all business domains. This, in turn, empowers businesses to avoid costly data loss, reduce efficiency, extract accurate data avoiding missed business opportunities.
Evoke’s Intelligent Document Processing solution enables businesses to process all kinds of documents. Infused with advanced AI (Artificial Intelligence) technology EIDP offers a comprehensive suite of document processing features. It ensures streamlined workflow, high accuracy, and customization. Here is a list of how Intelligent Document Processing helps you in document processing:
- Quick information extraction: Intelligent Document Processing enables quick data extraction from diverse documents such as invoices, COAs, medical reports, contracts and more, scanned, or handwritten. It is user-friendly and enables users to review and submit the processed data.
- Automated document processing: Powered by GenAI-automation it deftly conducts document processing and extracts relevant information to users. This reduces human error and enhances data accuracy. Check the case study where our EIDP solution assists the client to automate medical document classification and feature extraction.
- Self-training and configuration: Equipped with NLP (Natural Language Processing) and GenAI Evoke’s Intelligent Document Processing solution self-trains itself from new data and performance feedback. It fine-tunes itself based on received parameters, requiring minimum human interference, and enhancing data extraction accuracy. Moreover, you can easily configure Evoke’s Intelligent Document Processing to adapt and process multiple document types, layouts, and formats.
- Seamless workflow integration: The output parsing engine of our Intelligent Document Processing streamlines the document processing workflow. This engine ensures compatibility with present systems and operations workflows, thus enabling seamless integration. For instance, check the link to know how our intelligent document processing enables a leading client to seamlessly integrate classified documents and extracted features into the company’s existing workflows, thereby streamlining the entire document management process.
- APIs services integration: The APIs exposed in Evoke’s Intelligent Data Processing solution streamline automated data extraction, ensuring easy data accessibility and modification. This means you can customize IDP’s functionality based on your specific requirements via APIs. Check out the case scenario where we assisted a leading corporate service provider streamline their payment process. Evoke’s Intelligent Document Processing solution ensured accuracy of crucial information extraction with several rounds of advanced GenAI powered automated document processing.
- Faster data review and modification: Evoke’s Intelligent Document Processing solution process involves expert review and modification of data before final submission. This process ensures quality data is received and retrieved, enhancing overall productivity.
Benefits of Evoke’s Intelligent Document Processing Solution
Evoke’s Intelligent Document Processing solution offers a comprehensive package of benefits that include:
- Increased efficiency
- High data accuracy with GenAI powered extraction
- Scalability and adaptability
- Real-time data extraction via API services
- Data extraction flexibility
- Time and resource savings
- Cost efficiency
- Improved customer experience
Why Choose Evoke’s Intelligent Document Processing
Large volumes of documents, signature detection, specific data extraction or integration of existing systems—Evoke’s Intelligent Document Processing solution does it all for you. It ensures quality data extraction and high accuracy. Its combined use of AI and GenAI with user-friendly interface ensures you experience its full potential without any hassle.
With our Intelligent Document Processing solution, you get seamless integration and streamlined workflow process through our advanced API capabilities. Our end-to-end document processing solution extracts information from a wide variety of document files, sizes, and formats, guaranteeing top-notch data extraction. Our solution’s versatility caters to varied industries including finance, insurance, healthcare, and government, among others.
Evoke’s Intelligent Document Processing solution empowers businesses to enhance operations efficiency, and drive productivity. Connect with our experts to explore how to transform and enhance your document management.
