iKapture software with its machine learning capability helps to learn the structure of a document or an invoice that allows to work with data, localize the fields we need to extract with Object Detection problem method (and not OCR) to extract the text. This can be done by modeling your neural networks in a way to learn how to identify and extract tables, understanding columns and fields present.

The advantage of this approach is to make machine learning model that can be generalized to any kind of document or invoice and can be used out of the box without any customization by adding a continuous learning loop by collecting new data and retraining models periodically can lead to great performance on a large variety of data.

What Is Digital Transformation?

Digital transformation is a broad term, so there are a few definitions of it to understand better. Digital transformation means “taking a customer-driven, digital-first approach to all aspects of a business, from its business models to customer experiences to processes and operations. Digital transformation uses AI, automation, and other downstream systems to leverage data driven intelligent workflows, faster and smarter decision-making.

No matter of the definitions, we clearly see that digital transformation has significantly impacted document processing solution providers and their users.

And also, some document processing platform providers are moving away from things like traditional optical character recognition (OCR) & template-based solutions and moving to the landscape of more intelligent, automated solutions.

The goal of Documents Digitization is to give businesses a solid technical advantage and seamless operations they need to grow rapidly. This helps become more digital and adapt technologies whenever possible for the businesses to optimize processes, improve the customer experience, reinvent business models, and much more.

How Digital Transformation Works With AI Based iKapture

Before the digital transformation technology, most of the organizations worldwide had to process documents manually. This was just not only a slow process, but also frustrating process for the workers assigned the daunting task of manually processing piles of papers each day, but it was also often riddled with errors.

After all, people make mistakes, especially when doing tedious tasks like transcribing numbers from one file to another. However, thanks to digital transformation, which has changed the complete landscape of document processing.

Using OCR and template-based platforms to process documents was faster than doing everything manually, but these technologies weren’t enough accurate and couldn’t quite live up to expectations.

As a result, they required quite a lot of manual revisions. These systems could not read and understand documents if they weren’t in a specific format, which meant hours of reformatting existing documents or new template creation.

Here, iKapture is to use things like artificial intelligence (AI), Machine Learning (ML), Computer Vision, NLP, and more to create more advanced document processing solutions. It got it’s own unique and very handy configuration system, where in user can easily configuration the iKapture engine to capture any further information he seek for on top of the standard iKapture extraction, and also it’s dead easy to make corrections & push inputs the engine so that engine eventually would be almost 100% inline with your requirement. iKapture uses image processing techniques to enrich images in quality by removing most of noises, which helps to get good accurate text from OCR engine.

The Benefits Of Using iKapture Digital Transformation

Taking a digital-first approach has allowed providers to disrupt the document processing market. Before, with OCR or template-based platforms, staff members regularly needed to convert existing documents into a format that the system could process or create new templates, which required lots of time, work force, and of course money.

iKapture is far faster and more accurate than the template-based platforms. They can read and understand documents with high accuracy, regardless of format.

This also means that the iKapture document processing solution is more automated than traditional document processing technologies, as there’s no need to create new templates or reformat existing documents.

iKapture document processing solution can process different document types like invoice, receipt, ID card, bank statement, etc. This capability can make many business processes seamless, specifically we can integrate this engine with downstream systems like ERP & Financial systems.

This enables organizations to reassign employees to more productive and personally fulfilling tasks. Plus, since they don’t require as much manual work, modern IDP solutions are also more scalable, which means businesses can continue to use the same document processing system as they grow.

What Is Digitizing An Invoice?

The process of digitizing an invoice can be broken down into 3 steps:

1. Convert the physical document to a digital file, this can be done by two ways, either scanning invoice or click an image through camera.

2. Extract the required information from an invoice, this can be done by two ways:

I. Humans – manually done by reviewers who will analyse the invoice for errors, read the text in it and enter it into a software for storage and future retrieval.

II. Machines – OCR (Optical Character Recognition) recognize the raw text, and then we extract required information by leveraging AI/ML & NLP capabilities.

3. Extracted data needs to be stored in a retrievable format like a Database, an ERP system, an Excel sheet, etc.

The desire for digital transformation is changing the document processing industry for the better. Outdated, template-based solutions are no longer enough for document processing providers (or their customers), so automated document processing has become a top priority.

Start Your Digital Transformation With iKapture’s Advanced Invoice Processing Solution

Organizations undergoing digital transformation need to find document processing providers that have already adopted a digital transformation mindset to get the most out of their document processing technology.

At iKapture, we’ve embraced the latest technologies. Our platform leverages artificial intelligence, machine learning, NLP, Computer Vision and more to create the best possible document processing solution.

iKapture is fast and accurate — no exhaustive manual processing is required. With iKapture, you’ll save time, money, and energy and see a quick return on your investment.

Ready for your digital transformation? Check out iKapture’s free trial on our website, see how easy, and helpful to you. Please reach out to us and get more details, we happy to help you in growing your business.