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Processing financial forms is costly and time consuming. It requires the mobilization of a manual extraction team and slows down customer service and delivery. Furthermore, processing financial paperwork rapidly with old procedures is prone to errors and can result in major issues.
Our client’s machine learning-powered solution aims to streamline document processing, reduce errors, improve efficiency, and provide valuable insights through Intelligent Process Automation.
Pain / Challenges
Most of the data is unstructured and the OCR algorithm recognizes data from scanned documents fall below an acceptable threshold. It is nearly impossible to achieve at least 80 percent-90 percent automation for OCR on scanned documents.
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