Extraction and validation of complex data from a table, photo, signature, bar code, QR code, the outcome of radio, and check box are possible because of the izDOX-Plus AI-based solution.
Business Need
Financial institutions, aggregators, and registration agencies collects very large volume of forms from the customers. These forms have very variations in the formats of forms, thus making it challenging to automate with conventional OCR techniques. Complexity increases because of check boxes, radio buttons, tables, photo, signature, etc.
These documents are submitted by as PDF or images for processing, and executives have to read the forms and manually enter the data in the ERP. This manual process is labor intensive, time consuming and delays the entire process of approvals of forms. Manual entry may have some errors, thus cross checking of data is required. Thus there is impact on the business efficiency. The process can be automated using artificial intelligence based technology.
Our solution izDOX-Plus has lots of capabilities to automate the complex forms processing having very large variation in documents.
Solution
Our izDOX-Plus solution uses AI technologies to extract and validate the data from forms. The data can be text, information from table, photo, signature, bar code, QR code, outcome of radio and check box. This data can be validated using business rules, and also can ne matched with ERP or other systems. Information can be matched across form and supporting documents with confidence score. The final data can be pushed back to system for approval.
The izDOX-Plus can be integrated with ERP and any other system using APIs.
The izINV can be integrated with the any system using APIs or supported with RPA. The typical touch points are:
1. Online systems or folders to access and read the invoices documents or use APIs to push invoices
2. ERP system for additional information required in data validation
The izTRF AI platform benefits are as below
Scalability
Scalability from faster trade document processing.
Accuracy
Key Value Extraction Accuracy Ranging from 80 to 99.9%
TAT
Faster Turn-Around-Time due to increased automation
Productivity
4x–10x Productivity through significant time savings.
Solution Features
Case Management
Index incoming documents over time and link them to cases.
Automated Verification
Match information across documents with a confidence score.
Regulatory Compliance
Applies rules based on UCP, ISBP, ICC, and RBI guidelines.
Automated Risk Checks
Automates name screening, sanctions checks, and anomalies.
Seamless API Integration
Sanction screening of entities, ports, goods via 3rd-party integration.