izDOX AI platform as Hosted SaaS or Enterprise SaaS (for high volume) transforms unstructured, semi-structured and structured digital and scanned PDFs, images with printed, handwritten data to meaningful information for quicker go no-go decisions with auto-verification and analysis. Template free solution with higher accuracy, cloud agnostic and on-premise availability are the USPs.
Problem Statement
In various domains like banking & finance, insurance, healthcare, logistics and across the departments like business operations, finance, sales and legal; there is large volume of printed or handwritten documents being processed daily. Manual / semi-automated processing (verification, analysis etc.) of such digital or scanned documents in unstructured, semi-structured and structured formats through folders and emails is a high-touch, monotonous, repetitive and hence error prone task. Sample document types are financial instruments, trade finance, forms & supporting documents, itemized bills, immunization records and so on.
Following challenges are faced by operational teams of our clients who process document with large format variations in large volumes:
- Documents processed using OCR need up to 90% manual intervention.
- Stringent document processing SLAs
- Higher document processing cost
- High rework cost
izDOX AI Platform: Solution Flow
Solution :
Document Hyper-automation using Artificial Intelligence (AI)
Document processing cannot be done alone by use of Optical Character Recognition (OCR) and Intelligent Character Recognition (ICR). izDOX AI platform uses machine learning (ML), neural networks, image processing, natural language processing (NLP) technologies and their combinations for handling (a) auto classification of documents (b) auto extraction of meaningful information (c) hundreds and thousands of variations in the formats (d) handwritten documents (e) multi-lingual documents and at the same time provide higher accuracy. Auto-verification of data and analysis is also done to help quick business decision making.
izDOX AI Platform discovers document information for business insights with increased accuracy (up to 99.9%), productivity (4x-20x) and up to 5x cost saving for our global clients.
Information verification and analysis through izDOX AI platform
Human like intelligence
- 24×7 auto doc processing
- Handles format variations with high accuracy
- Auto learning to improve accuracy further
- Complements with RPA
Streamline Document Processing
- Auto start: Job Processing Engine
- Integration with Rules Engine, Internal & Third Party systems
- Downstream integration with systems like ERP, CRM, Workflow, RPA, Core System
Data Security
- Security and Compliance
- Role based access
- On-premise / private cloud deployment
- Protection of PII even if verification is to be outsourced
Benefits
izDOX Benefits
Minimize Human Intervation
Minimize human intervention through AI document automation to improve productivity (4x-20x)
No-Touch Processing
Straight Through Processing (STP) for higher percentage of documents based on the use-case
Saving On Operational Costs
Saving in operational costs, especially when cost of manual skilled labour is increasing with inflation.
Business Efficiency
Speed up your processes to improve business efficiency. Vast volumes of variety of information processed
Customer Experience
Make secured information searchable real time thereby enhancing customer experience
Simplify Verification
Simplify verification, compliance and process audits. Analysed data is used for quick business decisions
Are you ready for the next steps in your digital transformation journey?
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