by Shashi Bhargava, on Jan 12, 2024 4:40:18 PM
Key takeaways from the blog
- Intelligent Document Processing helps bridge the automation gap between ERPs and manual paperwork.
- TruCap+ IDP has in-built document ontologies to expedite process automation in a contextually sensitive environment.
- TruCap+ Marketplace is a proprietary repository of document ontologies or encodings that help speed-to-value.
Businesses selecting ERPs as a secondary automation solution for record maintenance tend to increase their technical debt in the long run. The approach still retains paper processes in their original form, resulting in swivel chair operations. Intelligent Document Processing helps businesses to bridge this process gap and at the same time improve business productivity.
How does Intelligent Document Processing help jumpstart automation in paper-intensive processes?
Intelligent Document Processing works with semi-structured and unstructured data in documents. It extracts the free-flowing textual data by using a highly intuitive framework in a contextual environment powered by Artificial Intelligence (AI). Intelligent Document Processing uses its in-built template-free approach and document ontologies to help businesses hit the road running from day one.
With high workloads, how can you navigate around the downtime during automation deployment?
Intelligent Document Processing automation solution is exclusively used for processing heavy paper-driven workloads and is a plug-and-play platform. Its deployment results in practically no downtime! Intelligent Document Processing directly integrates with downstream systems. It incorporates the unstructured data extracted from documents in a structured form into the business systems.
What are Document Ontologies?
Document Ontologies are in-built set of document encodings and frameworks in Intelligent Document Processing platforms. Each document ontology is carefully researched and designed to incorporate all the fields mostly found in a certain category of document, such as purchase order or invoice. The platform uses ontologies for identifying and classifying documents before data extraction and document processing. Business users can directly use these ontologies or modify them, if required, to process any unstructured or multi-structured document. The Intelligent Automation Document Processing solutions of people’s choice usually have in-built document ontologies to expedite the process automation related to high volumes of unstructured data.
What is the Intelligent Document Processing Marketplace for Document Ontologies?
Intelligent Document Processing (IDP) Marketplace is a proprietary repository of Document Ontologies and document frameworks that is available on the TruCap+ IDP platform. It helps business users jumpstart the automation of document-intensive processes by using the AI-powered TruCap+ IDP platform. The marketplace complements the AI-driven template-free approach of the TruCap+ IDP platform, enabling businesses to go live with the document data extraction automation right from day one.
How does the Marketplace for Document Ontologies help speed-to-value?
The Intelligent Document Processing Marketplace hosted on the TruCap+ IDP platform has pre-built library of document frameworks or document ontologies. With a template-free approach and the potential to go live using the plug-and-play mechanism, TruCap+ in combination with the marketplace of document ontologies ensures faster return-on-investment and speed-to-value.
How do the document-specific ontologies help to quickly remodel the solution?
The in-built set of TruCap+ document ontologies are document-specific. That is there is a unique ontology for invoices, contracts, agreements, and KYC documents, respectively. Each document ontology is highly researched, designed, and developed to incorporate almost all the fields that are usually found for a particular document class, for example invoice. The ontologies can be easily modified, as required, and quickly deployed for maximized output.
How does Intelligent Document Processing offer flexibility as per innovation appetite?
Intelligent Document Processing platform TruCap+ is highly flexible and integrable with most ERPs and downstream systems, including robotic process automation and business intelligence solutions. TruCap+ IDP seamlessly integrates with licensed Generative AI solutions and allows querying on lengthy and tedious unstructured documents, such as contracts and agreements. The approach helps to discover points that are best for the business interest or are detrimental to it. This Information Discovery is pertinent to most business functions, such as legal, procurement, manufacturing, logistics, etc. TruCap+ IDP can be integrated with more than one automation solutions to bring forth end-to-end automation or Intelligent Automation in the most complex business environments, such as Trade Finance.
Simply put
Intelligent Document Processing solutions are important for bringing paper-intensive processes in the ambit of automation at an accelerated pace. These solutions have inbuilt document ontologies (frameworks or encodings) that help auto-identify and auto-classify the documents received for processing. TruCap+ IDP has Intelligent Document Processing Marketplace or proprietary repository of document ontologies. These ontologies along with an AI-driven template-free approach, enable businesses to jumpstart automation, ensuring faster return-on-investment and speed-to-value.
