PROCESS AUTOMATION | 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.
What is automated data extraction?
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.
Use cases for automated data extraction
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.
THE BENEFITS OF AUTOMATED DATA EXTRACTION
Document Automation: Streamline workflows and boost productivity
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.
Faster Processes
Manual data entry takes more time and prone to errors. Auto-extracting data prevents companies from spending extra time on re-entering data.
Cost Savings
Manual processes are costly. Eliminate the need for human intervention and free up resources for other business activities.
Reduce Error Rates
Prevent or at least minimize human errors with automation. Provide better results on an on-going basis leveraging AI.
Better Auditing and Compliance
Ensure compliance regulations are followed and provide comprehensive and detailed insights for auditing purposes.
We make 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 to get you up and running fast – without false promises and compromising on quality.
