One of the biggest challenges enterprises face is handling document digitization. Handling paper documents is time-consuming, repetitive, and error-prone. While AI and Robotic Process Automation have made it possible to handle documents automatically, enterprises still struggle to eliminate manual processes. Invoice processing and procurement-to-pay processes are two of the most common examples of business processes that involve documents. With an intelligence-powered document digitization solution, these processes can be automated and handled with a minimum of human error.
Incorporating Konsultera’s intelligent document capture platform, MYSTiQUE into your workflow can make a huge difference. Our modern intelligent platform can process semi or unstructured documents to extract relevant information. MYSTiQUE’s advanced technologies use a pattern-matching tool to determine which information should be extracted from paper documents. These technologies are more accurate than ever, thanks to our recent improvements in processing capabilities. In addition, our document digitization platform can handle a wide variety of formats, such as excel files, texts, PDFs, and images, making them suitable for a variety of different applications.
An Insight into the Functioning of MYSTiQUE as a Platform
While focusing on implementing an effective document digitization process, we realized that most of the systems rely on OCR (Optical Character Recognition) technique. This technique digitizes the documents, but it doesn’t fulfill the purpose of the document digitization process, i.e., easy extraction of files. While extracting some files can be easy, finding some other files can be tricky, which need specific sorting as per time, number, or any other attribute. This logical extraction is not possible with OCR alone.
Thus, we fixed the goal of our document digitization platform and created a strategy around our aim to offer absolute digitization and extraction so that the whole process can be completely automated and soothed. To do the same, we use AI Orchestration as a Service through MYSTiQUE.
To make MYSTiQUE help companies get ready to go digital, we incorporated Intelligent Process Automation (IPA). This technology allows them to access information from any type of document. Once digital, these records can be searched using a keyword. This means fewer resources are needed to process the data. The platform also allows businesses to use more advanced search methods to discover data, such as sales figures and customer profiles.
Here’s the step-by-step process that we follow while digitizing a document through MYSTiQUE’s intelligent platform:
- Receptor
The receptor is the first component of the platform in which files in any format are received and processed further for predictive analytics. It can process any type of data, be it images, documents, or excel spreadsheets.
- Preceptor
After the input of source data, the process of digitization begins. Preceptor comprises pre-trained ML models, which makes custom models faster. This pre-processing unit helps in improving the accuracy of the process while labeling, model training, and re-calibrating the data.
- Endeavor
Now data proceeds to Endeavor, which is powered by OCR (Optical Character Recognition) and IPA (Intelligent Process Automation). It consumes several ML models to establish a customized workflow for business requirements. While scanning the data thoroughly, this step introduces intelligence-enabled operations to make data extraction more effective, dynamic, and logical.
- Enactor
This component enables efficient extraction using techniques like RPA, AI Chatbots, HyperAutomation, Rest API, Smart assistant interface (Alexa, Google Assistant), Data Visualization using Data Lakes, Big Data Ecosystems, Large Scale Search and Match. In this step, the data that is digitized is extracted seamlessly as per the requirements of businesses and individuals.
How is MYSTiQUE Taking Document Digitization to the Next Level by Offering AI Orchestration as a Service?
Our intelligent document digitization can kick off manual processes and workflows, such as processing invoices and customer queries. By linking ad-hoc processes to business apps, an AI-enabled document digitization platform can provide significant benefits. In addition to converting documents into digital formats, AI and machine learning can liberate business data embedded in documents. As a result, our MYSTiQUE is scalable, cost-effective, and capable of delivering high levels of accuracy.
1. Increased Throughput: Analog documents contain structured, semi-structured, and unstructured information. By automating these documents, we can improve throughput, increase accuracy, and promote enterprise efficiency. To begin automating processes, organizations must identify the right processes to pilot. Quick wins are important because they free up capital and accelerate adoption throughout the organization. Top-tier organizations apply a bottom-up opportunity estimate methodology, and processes for intaking structured documents are typically the first to be automated.
2. Saved Time & Efforts: Government agencies handle huge volumes of data, including sensitive documents. The government alone employs many people, and processing information by hand can take a toll on workers and result in data entry errors and long nights. Intelligent document processing has enabled forward-thinking government agencies to jumpstart their digital transformations. Whether you are a small business, large enterprise, or nonprofit, Document digitization using IPA can automate processes and save you time and money.
3. Reduced Human Error: Intelligent document digitization combines AI and machine learning technologies to transform manual documents into digital data. It enables companies to extract valuable information from documents. Automation is the key to increasing efficiency and profitability. Intelligent document digitization makes it easy to transform documents from one format to another. Our Intelligent document platform, MYSTiQUE improves the customer experience, decreases human error, and improves employee satisfaction.
4. Seamless Data Extraction: Intelligent document processing can transform documents into digital data by leveraging optical scanning technology and artificial intelligence. It extracts data from documents using artificial intelligence, identifies document types, and exports them to other applications or a data repository. With intelligent document processing, companies can reduce costs and improve efficiency by automating data entry procedures. MYSTiQUE will eliminate the need for human intervention in document digitization. This platform will also help companies automate and streamline processes involving large volumes of documents.
5. Environment & Space-Friendly: Another advantage of our document digitization platform is that it frees up valuable office space. The typical paper document can take significant time to find and access, which is not very convenient for customers. Digitized documents are searchable and can be immediately accessed, saving you time and money. Documents digitized by MYSTiQUE are easy to share with others. The process is also more environmentally friendly, as digitized documents can be reused. Besides being environmentally friendly, digitized documents also help protect the confidentiality of the company. Not only does this ensure better accessibility for employees, but it also allows for more effective management and avoids the risk of losing important documents.