Data Extraction from documents has evolved significantly since the OCR days of the 1990’s. Several template-based approaches have been replaced with Artificial Intelligence and Natural Language Processing guided systems, offering intelligent data extraction from complex unstructured documents. Typically, Intelligent Data Extraction is a component of an overall Intelligent Automation strategy that combines various processes to give the organization a complete, automated end-to-end solution.
Idexcel’s new revolutionary framework, AIDE (Automated Intelligent Data Extractor) is an Artificial Intelligence (AI) powered Data Extraction solution that enables rapid processing/extraction of unstructured data from scanned documents, PDFs, handwritten forms, and images for financial operations, application processes, and any procedures requiring the intake of data in an unstructured format. With our AIDE solution framework, an enormous number of paper-based documents in different formats, varying layouts, and multiple languages are digitized into various formats that can be stored and analyzed more easily.
Our intelligent framework can identify data like a human would: quickly, accurately, and within unstructured documents. Whether extracting data from unstructured financial records, purchase orders, or government documents, our platform gets the job done quickly and accurately. Not only can we automatically extract information, but we can also output the data into a final destination of your organization’s choosing, enabling easier search capabilities. The AIDE framework is seamless and scalable, simple to operate, and easy to manage.
Idexcel’s AIDE Framework can extract data from the following unstructured documents especially for Public Sector Organizations (but not limited to):
- Tax Forms
- Grant Requests
- Court Documents
- FOI Request
- Handwritten Text
- Standard Forms (Census, Employment) and
- Many more
Although the aforementioned documents are easily interpretable and differentiable by humans however, they are difficult for simple data extraction solutions to understand. Traditional OCR which works on a rules-based extraction approach is not a practical solution owing to the complex nature of its disparities and the features. This complexity in extraction increases further when the input has handwritten and multilingual text and content. As we are aware, automating a data extraction process is quite simple when all the documents have similar layouts. A simplified template-based approach can help in this case. In other cases, though these documents have similar layouts, the information within them may vary vastly. Idexcel’s AIDE helps process all these different documents at a much more precise and quicker rate.
Major Data Extraction Challenges posed by both manual and primitive Automation Tools in Public Sector Organizations solved by Idexcel’s AIDE:
- Minimizes manual errors that compromise data integrity and improves accuracy rates to up to 95%
- As the processing of data becomes easier, faster, and more accurate it eliminates the time and complexity of processing unstructured data
- Eliminates both external/internal application compatibility issues that lead to more costs by integrating commonly used applications which helps develop a tailored integration process with unique applications.
- With automation and powerful continuous learning, the processing time is reduced from days to minutes thereby eliminating manual workforce costs and resource management challenges.
- AIDE framework scales easily to accommodate larger workloads at minimal or no additional costs helping get rid of the inability to scale during seasonal/event-driven influxes.
- With AIDE, human worker burnout and exhaustion with manual and redundant tasks are overcome, as only minimal employee oversight is required to manage ongoing tasks.
Potential Benefits derived from using AIDE for Data Extraction:
Potential of Language Agnostic Data Extraction: By leveraging the power of Artificial Intelligence, AIDE can excerpt information from various physical documents across multiple languages. This is in turn very helpful for supporting, optimizing, and elevating processes in large multi-national corporations having multilingual workforce.
Considerable Time Savings: AIDE performs large volumes of data extraction at a faster rate with no compromise on efficiency and accuracy. This in turn allows Public Sector Organizations to focus their manual resources more into building meaningful services, innovation, and creative thinking.
Enhanced Data Quality: Idexcel’s AIDE captures the right data, reducing data errors and improving the overall quality of the data.
Easy Access to Data: Do away with the inconvenience of paper documentation and embrace the simplicity of organized digital data.
Improved Speed & Accuracy: With AIDE, there’s no need for error-prone manual data entry. Public Sector organizations can vastly improve the speed and accuracy of their digitization process using Idexcel AIDE, our intelligent and automated data extraction solutions.
Greater Security: Powered by AWS Cloud solutions, our framework adheres to strict security guidelines and the industry best practices.
Why Idexcel AIDE?
Every day, at every organization, at every level of management and operations, employees need to extract details from contracts, leases, tax forms, surveys, and other documents. The good news is that Artificial intelligence offers ways to perform these complex, integrated tasks far more efficiently. What we are talking about here is a decidedly less flashy and, at face value, more pedestrian use of Artificial Intelligence aimed at reducing costs and optimizing operations. Idexcel’s AIDE is a smart and intelligent data extraction framework that can process unstructured documents rapidly and digitize data from handwritten forms and papers. Besides, it can also perform unstructured data extraction from structured data such as financial statements information, extract information in Excel format, texts from image files, and extract tables from PDF documents.
The AIDE solution framework can execute data extraction from various paper-based documents in different formats, layouts, features, and languages. These documents are processed and digitized into various formats that can be analyzed and stored very efficiently. Built on top of Amazon Textract, a powerful machine learning tool, this smart solution’s storage, and security protocols are one of the best in the industry. In this way, previously inaccessible data are made available to anyone within a few mouse clicks.
Most organizations want to grow. It’s no big stretch to assume yours does, too. More satisfied customers, more revenue, more innovative ideas springing from the minds of employees. But growth for growths’ sake – as appealing is it may sound – is neither scalable nor sustainable. Without an intelligent automation strategy and the tools to back it up, there will come a tipping point at which your organization’s well-intended growth begins working against itself.
To know more about Idexcel’s AIDE, Schedule a Free DEMO