Swimming in piles of paper documents every time a new customer is onboarded? Wondering how to transform those documents into actionable data? Optical character Recognition is probably your best bet. This guide tells how Optical Character Recognition tools coupled with AI capabilities are here to make your life easier
But first, what is OCR?
In simple terms, OCR enables businesses in various industries to convert physical documents into digital text, saving time and effort. Imagine you have a paper invoice, you have to first scan it onto your computer. This file is now a picture file which you obviously can’t extract information from. OCR changes that, it takes that pic and turns it into whatever type of file you need.
And OCR, coupled with AI takes a step further. This is what we call_ Intelligent Document Parsing_ where it not only converts the file but also verifies and extracts data that you specifically are looking for-monthly recurring EMI payments, contacts, or accounts, for example.
Introducing SelfServe an Intelligent Document Parsing Platform
We at PowerCred after working all these years with banks and financial institutions built SelfServe, an Intelligent Document Parser which converts documents into clean customisable data.
No additional AI model training required
With SelfServe, neither do you have to train AI models nor be a tech expert. The user interface is super easy to use and intuitive. You can set the specific data you need to collect.
So, instead of wasting your time training AI models, you can do more productive things
Works for Many Kinds of Documents
The best part about IDPs like SelfServe is the fact that they are document-agnostic platforms. This means it doesn’t matter what kind of document you want to parse; the system is versatile and suitable for any business and individual needs
Not just that.
Even file types won’t matter as any good IDP supports all popular formats like PDF,JPG,PNG and TIFF. So you can use it with whatever files you receive.
Compliance and Security
For industries dealing with sensitive and confidential information, such as legal, finance, and government sectors, maintaining compliance and security is of utmost importance.
PowerCred’s Intelligent Document Parsing reinforces security by automating the verification and authentication process of sensitive data. This ensures that the OCR-extracted information undergoes rigorous checks, protecting against unauthorized manipulation or tampering. Compliance is strengthened, and stakeholders’ trust is secured.
Dig Deep with Advanced Data Analytics
Unlock detailed insights with advanced data analytics through an OCR tool that goes beyond simple data extraction.
This is where SelfServe outshines the rest, it extracts metadata, recognizes keywords, and analyzes context for valuable data-driven decisions.
Empower your business with streamlined processes, targeted marketing strategies, and increased profits.
In Conclusion
Whether you're in finance, healthcare, legal, or beyond, making use of an IDP tailored to your unique needs is going to supercharge how you function. From streamlining workflows to driving decision-making, the possibilities are limitless.
Sounds too good to be true?
Don’t take our word for it and try it out yourself.
Drop your mail in the comments below for exclusive early access to PowerCred’s Intelligent Document Parser.
Top comments (0)