Beacon NY, December 20, 2024, DocuWare, a leading provider of document management and workflow automation solutions, unveils its AI-powered Intelligent Document Processing (DocuWare IDP), bringing about unprecedented improvements and accuracy in how data is extracted, interpreted and classified from even the most complex documents. DocuWare IDP is also available as a standalone product and the company is excited to offer it to a wider customer base across new market segments.
Harnessing the power of Artificial Intelligence, DocuWare IDP automates text recognition from structured and unstructured documents, pre-processing such as splitting and cropping of documents, document classification by recognizing the document type, and extraction of data from invoices, purchase orders, ID cards, contracts and many more. DocuWare IDP brings digital document processing to the next level and further streamlines information management via the DocuWare Platform. With advanced optical character recognition (OCR), it accurately extracts data from low-quality scans or handwritten documents (HTR). DocuWare IDP helps businesses drive employee productivity by reducing the need for manual intervention and better managing operational costs by allowing them to scale with the same or fewer resources. Fast automation rates, automatic classification and pre-trained use cases contribute to a significant reduction in the time spent triggering document-driven processes and workflows.
DocuWare IDP offers major advantages for businesses dealing with high volumes of documents. Even documents containing unstructured or complex data, such as tables with page breaks can be handled automatically, ensuring that all required data is available for further processing.
Here are some of the best use cases from DocuWare customers across many industries:
Mail Room Automation
Companies to this day get documents sent to them via Post or to a central email inbox. For companies that receive a huge number of documents, processing the incoming documents becomes a very tedious and time-consuming task. This is where DocuWare IDP intelligently classifies the documents into categories (like invoice, legal letter, etc.) and extracts data relevant to the identified document classification (for example - an invoice to be processed, it is necessary to extract line items, but a legal letter will not have any line items). Once the relevant document data is extracted, the appropriate workflows can be automatically initiated: for example the approval process for invoices, and the signature process for contracts. All without human interaction.
Invoice Processing Automation
Extracting data from incoming invoices is a tedious, time-consuming and error-prone task if done manually. DocuWare IDP helps to process incoming invoices by automating the extraction of data within the invoices, even with complex line items. This data can be leveraged to match it against purchase order(s) and delivery note(s) for automatic approval.
Contract Management
IDP extracts all relevant data from contracts, including applications, proposals, or term sheets, that is needed for further automatic processing, like contracting parties, start and end of the contract, and notice periods. This data can be used for contract approval, renewal, or cancellation workflows and increases the automation rate significantly.
Claim Management
IDP classifies all documents and extracts their relevant information. By this, you can automatically ensure that all needed document types are part of a claim dossier and that the data within the different documents is consistent.
For more information on how DocuWare's IDP can transform your document management processes, visit Intelligent Document Processing at DocuWare or contact your DocuWare Partner.