From Data Capture To Knowledge Capture With ABBYY.cloud

This article is the first in a short series on natural language processing (NLP) technology and its role in document processing. Over the coming weeks, we’ll continue digging into the innovation behind ABBYY NLP software and some specific business problems that it promises to address.

How ABBYY.cloud Will Change The Way You Manage Information

If you’ve implemented ABBYY OCR software before, you’re acquainted with the accuracy, cost reduction, and simplicity that come from automating data capture. You’ve also wondered what might come next. What could help you automate higher up the value chain, moving from data capture to knowledge capture?

In recent weeks, ABBYY Software has made this next step a reality with the introduction of its ABBYY.cloud solution. By tackling difficult business problems with NLP and AI tools, ABBYY.cloud addresses three challenges that span industries.

1. Classification of any document

Invoices may be accompanied by slips of paper with critical notes. Customers might send screenshots and tweets. Partners provide tables that need to go in a spreadsheet or database. And all of these things require extended manual input to decipher–let alone act on.

We’d all love it if documents filed in neatly, then told us what they are and what we should do with them. But in real life, document intake looks less like a parade and more like a stampede. ABBYY.cloud leverages natural language processing (NLP) technology to classifying incoming documents on the fly, allowing your staff to spend less time filing and more time thinking.

2. Aggregation & deep analytics for customer feedback

A perennial challenge in customer analytics is identifying trends from such disparate sources as feedback forms, social media, surveys, letters, emails, and so forth. It’s tough just to get through that much content, but actually comprehending and summarizing it is a whole other challenge.


ABBYY Natural Language Processing For Document Knowledge Capture

ABBYY.cloud reads text much like you and I, but at speeds we can’t even fathom. The combination of NLP innovation and high-performance cloud architecture pulls sentiments and suggestions from millions of customer comments every second, revealing a depth and breadth of feedback that was previously inaccessible.

3. Extraction of knowledge from unstructured text

Speaking of classification and comprehension, ABBYY.cloud does not require consistently formatted, structured data. Quite the opposite: because of its ability to understand meaning and relationships within and between texts, it perceives the latent “structure” of unstructured content and processes it accordingly. This enables knowledge workers to gain deeper, faster insights into challenging and unpredictable data sources.


Information Representation In ABBYY.cloud Natural Language Processing Software

The Role Of NLP In Document Automation

In a sense, natural language processing helps fulfill the automation path that optical character recognition (OCR) began. Of course ABBYY.cloud retains the features that its developer is known for:

  • OCR data capture and document conversion
  • ERP-integrated invoice processing automation
  • Scalable, on-the-fly translation between all major languages

…all in a single, user-friendly dashboard. The real magic, however, is in empowering a content-weary organization to act on a wealth of knowledge.

Different organizations or teams are at different stages of that process. Some have barely begun to address data entry, and other are already digging into vast digital content using the manual methods currently at their disposal. But at any point, it takes an uncommon blend of business process expertise, invaluable partners like ABBYY, and deep technical know-how to deliver lasting value.

At Paperless Productivity®, we strive to bring that rare combination to the table. Whatever your obstacles and objectives, we invite you to learn more about ABBYY’s next-generation document processing technology, and the proven consulting strategy that helps leading firms harness it. Contact us today to learn more.

FlexiCapture Review: The Future of Finance with Invoice Capture & OCR Automation

Invoice capture and OCR for accounts payable/receive have come to the forefront during the rapid, worldwide adoption of the finance shared service model.

That model has caught on quickly in China, where companies are urgently streamlining their finance teams order to save costs by increasing efficiency. In fact, roughly half of all Chinese enterprises have either consolidated or planned to consolidate their finance teams into a single location for efficiency and cost benefits.

Docuvix, an organization at the forefront of financial shared services in China, offers enterprises a single electronic platform for all invoice processing, AR/AP document capture, financial forms analysis, and related workflows.

Given the renowned speed and accuracy of FlexiCapture for Invoices, it was an easy choice for Docuvix to integrate FlexiCapture Engine (the same underlying technology) into its own customized offering. Several benefits separated FlexiCapture from other finance/accounting OCR tools:

  • Consistent and smooth intake of forms, whether scanned centrally (by Docuvix) or remotely (by clients)
  • Unmatched OCR accuracy for Chinese-language documents, which are normally considered difficult to capture
  • Outstanding human readability due to automatic image alignment, noise reduction, and other visual clean-up features
  • Instant data accessibility and integration thanks to seamless export capabilities

The outcome of FlexiCapture integration was a particularly robust workflow that allows clients to automate accounts payable processing with OCR, capture insurance forms, and handle credit card documents with ease.


flexicapture-ocr-accounts-payable-finance-automation

Individual billing tasks now take roughly half as long as they did prior to FlexiCapture, making overall processing speed 3 to 10 times faster than before! For Docuvix’s largest clients, among which are large government departments, retailers, and universities, the savings can amount to millions of dollars annually. Better still, the same benefits are available to multinational clients with documents in any or all major languages plus dozens more besides.

Perhaps your organization has grand plans for a custom application that provides OCR capabilities among many others. Or perhaps you just need a turn-key finance/accounting OCR package that lets you manage more forms, with more speed, and with more accuracy.

Whatever the use case, the beauty of FlexiCapture is how it can transform painful workflows into sources of savings…and even competitive advantage.

To observe the solution in action with your own documents, or to see which ABBYY FlexiCapture price and licensing options make sense for you, please drop us a line today.

FlexiCapture Review: Curing Hospital Invoice Woes with FlexiCapture

Invoices were a nagging problem at an otherwise highly efficient hospital in Singapore. Like most hospitals there, it provided excellent care despite the country’s high ratio of citizens per doctor.

The hospital served a disproportionately large number of patients, which also meant a large number of vendor invoices. Its Accounts Payable department handled about 2,000 per day, or roughly half a million per year. As in most organizations, the AP process was monitored with particular scrutiny and had to meet demanding performance standards.

At first, clerks typed names, numbers, line items, and other essential invoice data by hand. This caused far too many errors and, as a result, delayed payments. Given the short deadlines—and potential fines for delay—the error rate was a significant business problem. Continue reading

Product Announcement: FlexiCapture for Invoices

EDI and XML invoices are always nice, but some vendors can’t provide them, and some buyers can’t process them. As a result, piles of paper and PDFs flow through most Accounts Payable departments. And according to the Association for Information and Image Management, even when invoices do arrive in electronic format, 20% of organizations still print them before processing!

AP has a strict scope of responsibility with immediate revenue implications. This means it tends to be among the most heavily scrutinized departments in any organization. Major AP performance criteria might include invoice processing time/cost, payment cycle time, invoice visibility, and cash forecasting accuracy. As cost and compliance pressures mount, there is no greater priority for AP managers than to expedite invoice processing while simultaneously maximizing accuracy.

That’s exactly why many AP and other departments have already implemented ABBYY FlexiCapture.
Continue reading

FlexiCapture Review: Jet Service’s Efficiency Takes Off with Invoice Automation

Clay Lacy Aviation, one of the most recognized names in private jet chartering and management, had a problem. Demand for its services was expanding—a good thing, to be sure—but the corresponding growth in paperwork was becoming a greater and greater drag on the business.

The highly complex invoices were a particular challenge, as dozens were incurred with each flight. This amounted to tens of thousands per year, in turn requiring 20 FTEs and growing.

With the goal of automating invoice capture and eliminating paper altogether, Clay Lacy’s IT team sought out a solution. They landed on ABBYY FlexiCapture, which “proved perfect for the task,” according to the Director of Integration Services. Continue reading