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Automated Data Extraction

Identify and extract information from documents to deliver insights and drive business value

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Automated Data Extraction2022-11-24T10:25:20+01:00

AUTOMATED DATA EXTRACTION

Automatically pull relevant data from various sources.

The dramatic increase in the volume of unstructured and semi structured data has made data extraction a vital component for many digital transformation initiatives. The reason for this is because structured data can be processed and analyzed more accurately than other types of data since it is machine-readable.

Automated data extraction enables businesses to save time and costs, reduce manual errors, improve their data-driven decision-making processes and save employees from mind-numbing repetitive work.

KEY BENEFITS

The benefits of automated data extraction

In today’s digital business landscape, almost every process makes use of data in some way. However, there are many companies that struggle to provide efficient ways of sourcing data to right persons and systems to streamline business processes.

Being able to provide systems with relevant data that is extracted in an automated way can bring enormous efficiency gains, especially if currently human intervention is needed.

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Frequently Asked Questions

Here are some of the most asked questions we encounter regarding automated data extraction.

What is automated data extraction?2022-11-24T10:05:06+01:00

Automated data extraction is the process of transforming unstructured or semi-structured data into structured information, in an automated way. Structured data provides organizations and their teams with meaningful insights to be available for reporting, analytics, and other business activities.

What are use cases for automated data extraction?2022-11-24T10:22:28+01:00

As you can imagine, there are a lot of use cases in which automated data extraction can be beneficial. The word automated is key here, as already is proven that software can extract data in a better way than humans possibly ever can. Faster, more accurate and capable of providing the data immediately to one or more systems.

Back to the use cases, here are some examples of how automated data extraction is being used already;

  • Legal professionals extract clauses from contracts for review and or knowledge management purposes.
  • Accounts payable extract data from invoices, to subsequently check and approve invoices.
  • Logistics service providers extract and analyze heaps of data from invoices, bills of ladings, as well as other documents, and manually feed in updates to the TMS or ERP.
How to choose an automated data extraction solution that syncs with your company’s needs?2022-11-24T10:24:03+01:00

When picking a data extraction solution for your business, you should take into account that there are a lot of solutions available – each with their own set of features and capabilities. Therefore, it’s smart to have a good overview of the needs and requirements for your specific situation so you are confident that data extraction solution you choose, delivers in regard to what your business needs. We recommended to have the following parameters in mind when making a purchasing decision:

1. Intelligent data capturing

The data extraction tool must be able to extract data without losing information from different document types such as contracts, delivery notes, accounts payable, and more, and be able to categorize them in their respective blueprints.

2. Accuracy in results

Companies prefer a data extraction tool that delivers swift results; however, it must also be high in terms of accuracy. The extracted output must retain information, and the tool must be able to extract tables, fonts, and crucial parameters without compromising the layout.

3. Storage options

Pick a data extraction platform that offers secure storage along with seamless backup options. Cloud-based extraction enables you to extract data from websites seamlessly at any time.

Cloud servers can swiftly extract data relative to a single computer. The quickness of automated web data extraction affects the speed of your reaction to any rapid events that impact your enterprise.

4. Simplistic UI and robust features

Advanced automated data extraction software must operate on a simplistic UI. The layout of the software interface at launch must be simple enough to navigate you through executing a grinding task. Besides providing an easy-to-use UI experience, the platform must also not compromise on the essential features.

5. Price

Pricing might not be the most crucial factor, but it is a thoughtful consideration. It might not be a wise decision to invest in exorbitantly expensive software with extravagant features that do not apply to your company or choose the wrong pricing plan. Consider evaluating the features of the software while ensuring that the cost stays within your budget.

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AUTOMATED DATA EXTRACTION TECHNOLOGY

Technology to extract relevant data with automation.

Discover how our solutions enable businesses to adopt modern and resilient operating models to anticipate what’s next and lead the change.

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iManage Extract

Deliver new insights and increase business value using AI to identify and extract information from documents.

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OUR APPROACH

Making sure business and IT requirements are met.

For every project our team ensures a great fit of the solution, tailored to your specific needs and requirements. We follow a clear and transparent project approach and due to our best practices methodology we get you up and running fast – without false promises and compromising on quality.

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