There is an overwhelming proliferation of data in business, and large enterprises face the constant need to process this ever-growing unstructured data in physical & digital formats. Unstructured data constitutes 80% or more of the enterprise data, and is growing at the rate of 65% per year. While unstructured data is available in abundance, the number of software products and solutions that can accurately analyze raw text and extract information, and classify it according to insight, are few. Many commercial products work on the premise of fixed spatial templates, which basically map locations to a particular field. Such a basic approach might work perfectly well in simple scenarios, but fails to scale up at the enterprise level.
Incoming documents are typically heterogeneous in nature, and it is not rare to receive a mixed document flow that contains letters, faxes, invoices, forms, contracts, etc., especially if there are multiple entities involved. Manually processing such heterogeneous data is a costly activity, and have led to extensive research & development in the context of automatic processing of such administrative documents.
LTI’s Intelligent Data Extraction solutions automate the task of extracting entities from unstructured non-templatized documents. This intelligent tagging drastically reduces the required time and effort, as well as reduces the possibility of human error. The solution is fuelled by cognitive technologies like Natural Language Processing and Machine Learning, leveraging advanced concepts like Name Entity Recognition, Parts of Speech Tagging, Fuzzy Logic, etc. The inbuilt feedback mechanism ensures that the AI system continuously learns. The Data Extraction solution completely automates the maker process, thus drastically reducing TAT, improving efficiency, and minimizing the possibility of human error.
Reduced data entry time / cost by up to 90%
Reduced error, with addition of validation rules
Improved data security & privacy
Extendable vocabulary & dictionary
Invoices, Purchase Orders & Statements
Healthcare Documents (labs, EOBs)
Contracts & Agreements
Mortgage & Financial Documents