What is Cognitive Document Automation?

Posted 03-03-2020

Document-based tasks are costly as well as time-consuming. Organizations that deal with document-intensive processes have a hard time taming these high records, papers, and e-documents. They are trapped in a never-ending loop of manual work required in hard-to-integrate backend systems. These challenges reduce data visibility, swell operational costs, enterprise agility, and slow customer response.

Is it similar to the struggles you are facing in your company processes? Are you looking for a solution to improve data processing? If you are looking for an efficient data automation solution, then Cognitive document processing software such as Cognitive Invoice is the way to go.

Let’s begin with what’s Cognitive Document Automation?

Nowadays, most of the technologies that we see use artificial intelligence, cognition, and machine learning. The digital assistants and other automated capabilities have gained popularity amongst organizations as these solutions have the ability to learn. The main idea behind cognitive automation processing is to bring intelligence to information-sensitive processes. It is closely related to RPA, Robotic Process Automation as a blend between Cognitive Computing and Artificial Intelligence (AI). Using artificial intelligence, cognitive automation processing has improved and correlates with RPA as well. Thus, providing customer satisfaction and cost-saving solution. Using cognitive automation software for document processing can enhance the accuracy of complex business processes even for unstructured data formats.

Intelligence of CDA

Cognitive document processing comprises three essential stages. The main purpose of document processing is to acquire the data from various sources, extract, combine, and later transform this data. This information is later used in various processes in multiple systems.

  1. Acquire: The first step involves the acquiring of documents from various sources, different formats and from multiple devices such as fax, folder, email, PDF, website uploads, office files, MFP’s, and mobile devices. Users expect a smart acquiring process in which data can be acquired from multiple channels at the same time without having to adjust different instructions like start over or restart. The CDA application must have the document capture capabilities so as to perform real-time data capture and data display and users should be displayed the correct data before submitting it.
  1. Understand: After acquiring the data, the CDA reads and understands the information provided to it. So, the system is able to answer questions like “what is this document about? What information does it contain? What is to be done with the information and document?” So, this step involves the cognitive transformation of data into intelligent and business-consumable information that can be used by multiple systems in performing various processes.
  1. Integrate: The last step involves the integration of Cognitive document processing software with downstream processes using pre-configured system API’s or connectors. In some cases, Cognitive document processing also uses RPA technology to integrate with systems and map the data from source to destination. In this case, the system needs not to be exposed to web services or API.

Our Solution

DocAcquire Cognitive Invoice is an intelligent platform that reduces reduce effort, cost, and risk by using by adopting Artificial Intelligence at its core to automate invoice processing.

Some of the key capabilities include:

  • Analysis of unstructured invoices.
  • Retrieval of useful data using various intelligent techniques such as NLP and keyword extraction.
  • The ability to extract handwritten data.
  • Can be integrated to processes such as auto-filling of online invoices using the data extracted from digital invoices.
  • The ability to export and integrate the extracted data flow with your propriety systems.

 How Cognitive Invoice will benefit your business?

Enterprises today face many challenges like enhancing decision making, increasing efficiency, ensuring customer loyalty, and staying competitive are some of the common hurdles faced by businesses. Using Cognitive Invoice, the efficiency and quality of your business will increase manifolds. You can use cognitive automation to formulate your business transformation strategies and stay ahead of the curve.

Benefits of Cognitive Invoice:

  • Increased speed: The process of extracting data from multiple invoice layouts becomes faster.
  • Cost savings: You will no longer need to hire people for manual data entry and sorting. So, your staff will be able to focus on more important tasks.
  • Better decisions: It removes bias, ensures consistency, and lets human experts focus on bigger issues.
  • Reduced risk of regulatory breaches: When the whole system is automated, it reduces the chances of data being lost, misfiled, and error generation in data handling.

Conclusion

We live in a competitive world where there is no scope of lagging. Cognitive Document Automation is definitely a faster way to extract, export data and fasten up your business processes. It is an escape from cumbersome and time-consuming manual data handling and minimizes inaccuracy.

So, if you are looking for a faster solution for data extraction, processing, and handling, then you don’t need to look afar. Cognitive Invoice is the best solution for all your data processing issues. Introducing cognitive solutions to your business will increase your productivity and you will be able to move things faster. Thus, saving lots of effort and time.

Want to increase the efficiency of your business? Try out Cognitive Invoice for free! 

 

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