Can Docsumo be considered as an alternative against Amazon Textract?
October 22, 2021
|
6 min
INDUSTRY-INSIGHTS
IDP
DATA-EXTRACTION

If you’re looking for a minimal-code data extraction solution, Docsumo is your preferred choice over Amazon Textract. Docsumo does a far better job at extracting custom fields from semi-structured documents, new doc type creation, and retraining the document on new data. Docsumo does a much better job at table extraction where Textract doesn’t do an exceptional job. With auto-document classification, auto-assign, and data validation features, Docsumo ensures that it is the end-to-end automated document processing that you’re looking for. 

Amazon Textract is a fully managed machine learning service that facilitates automatic extraction of data from printed, handwritten, as-well-as scanned documents. Textract employs machine learning to spontaneously analyze and process any document type, extract printed text accurately, detect and understand handwriting, forms, tables and other information with no manual effort.

Docsumo Amazon Textract
Deployment Web based, Cloud based SAAS Web based, Cloud based SAAS
Batch Processing
Multiple Learning Mechanism
Installation System Integrators not required System Integrators required
Data Entry Validation
Custom Field Extraction
Fraud Detection
Vertical Text Extraction
Document Auto-classification
Auto assign
Pricing Pay-as-you-go License based


Similar to Textract, Docsumo lets operation teams pull data from any document type without manual setup, regardless of the layout, with unprecedented accuracy. Before discussing their strongholds, let’s see what both Amazon Textract and Docsumo have in common.

Docsumo and Amazon Textract - potential substitutes?

Amazon Textract offers a number of features to its customers. Docsumo also does a great job when it comes to distinctive features. It has some valuable features to offer to its users such as Custom Training, Auto classification, and Auto-assign the held documents to the right team member.

Custom Training facilitates the system training for a wholly new document type without bothering whether the system has been trained for that specific type.

Here’s what both Amazon Textract and Docsumo have in common:-

1. Extraction of structured and unstructured data

Docsumo employs artificial intelligence to imitate reading documents like a real human, to extract not just forms, tables, and other structured documents, but also from semi-structured documents such as invoices, bank statements, and identity documents.

Similar to Amazon Textract, Docsumo automatically detects the layout and the key elements of a document on each page, comprehends the data links in any embedded forms or tables, and extracts all information without disturbing its context.

2. Pre-Trained API

Docsumo provides case-specific pre-trained APIs, which lets clients assess the accuracy of the data extraction model before installing it in their machine. 

This pre-trained API works proficiently for various document types, including Rent Rolls, Bank Statements, Offering Memorandum, Invoices, Bill of Lading, as-well-as Utility Bills.

3. Unified solutions

Docsumo lets you train multiple document types. This feature provides customers with a unified solution rather than interacting with different vendors for several use cases. 

Unified solution by Docsumo

Docsumo is consistent with the updation of the New Doc Type to offer greater efficiency, which lets it train with higher accuracy and renders greater customizations.

4. Security & compliance

Data security and privacy is taken seriously at Docsumo.  Docsumo is SOC-2 certified and GDPR compliant implying that customers have better insights into the security processes and better control of customer data.

PayU testimonial Docsumo

Benefits of implementing Textract 

Here are some benefits offered by Textract that make it an exceptional tool for data extraction in the market -

1. Create smart search indexes

Textract extracts structured data from documents and builds a smart index. This facilitates convenient searching through millions of financial statements swiftly.

For instance, a lending firm could benefit from Amazon Textract to process millions of scanned loan applications within hours and provide you with the extracted data indexed in Amazon Elasticsearch. 

2. Establish automated document processing workflows

Amazon Textract provides the inputs needed to process forms without human intervention. For instance, Amazon Textract can automate the processing of loan applications for banks.

The information processing in the document can help initiate all the crucial background and credit checks for swift loan approval. This gesture enables customers to receive instant approval confirmations to their application.

3. Implement human reviews conveniently 

Amazon Textract is integrated directly with Amazon Augmented AI (Amazon A2I) to help you seamlessly implement a human review of printed text and handwriting derived from documents.

You can build-in human reviews to handle nuanced or sensitive workflows that require human judgment. This step helps you obtain high confidence predictions or to verify prognostications on an on-going basis.

Why makes Docsumo a better choice?

Docsumo offers several features and perks as mentioned above, and here are some reasons why choosing Docsumo might be a better choice compared to Textract -

1. Auto document classification

We bring document auto-classification API to the table, which lets you upload documents in bulk, classify them under respective classes, and have them processed.

Auto classification

It is imperative that you train the API with at least 20 documents of each type to have this feature enabled. After training, the API lets you upload any category of documents in bulk and delivers speedy results.

Docsumo can get customized easily for diverse use-cases even if you have no knowledge of coding, something not offered by Amazon Textract.

2. Interactive UI experience

The redefining UI by Docsumo gives it the upper hand over Amazon Textract. You only need to put in minimal effort or time to shift from any data extraction software to Docsumo.

We have scrupulously created documentation on our services and features and host a YouTube channel to help customers use our products. The UI experience, as per customer ratings, even surpasses the Amazon Textract.

You can conveniently schedule a demo call with our team to understand our interface thoroughly and utilize each feature.

3. Competitive Pricing

Docsumo offers a price range as per the number of documents processed by a company; however, our rates have a numerical advantage in the market.

We offer an exceptional UI and flexible customization for different use cases while maintaining a lower price point than Textract.

Docsumo also offers a fair pay-as-you-go pricing where you never come across any hidden or extra charges but only pay only for the features you use.

4. Streamlined integration

We have designed Docsumo meticulously to offer seamless integration with your other software without any hassle. Such a feature is made available by only a few in the expertise of document automation.

Docsumo can seamlessly be integrated into any workflow, as it employs plug-in APIs and innovative input and output connectors.

Miscellaneous perks offered by Docsumo

While AWS and Docsumo share most of the features similar to any other document automation processing software, Docsumo enjoys the upper hand in terms of a better UI, seamless integration, and competitive pricing.

  • Docsumo provides a Processing Time of under 30 seconds, which is 50x faster than an average worker executing the same task. This speediness alleviates the turnaround time from hours to minutes.
  • Docsumo, if implemented as a document automation software in your firm, can help cut down costs by 70%. This price cut helps invest your budget in the core activities of your firm.
  • We offer a whopping 98%+ accuracy rate and can help cut down manual errors and ensure extraction of crucial data with precision.

Frequently Asked Questions

1. What does Docsumo's pricing model look like?

Our pricing is based on how many documents you process on a monthly basis. Our ‘Growth’ package is perfect for small to mid organizations needing to capture specific data points and train on their data set. Our ‘Business’ package is perfect for larger companies who need to automate multiple workflows. Our ‘Enterprise’ package is suitable for organizations that need to process huge chunks of documents and implement custom workflows. Check out our pricing here.

2. Does my operations team require training to handle the solution?

Docsumo’s UI is quite intuitive and user-friendly, but it is recommended to have a session set up with us to help your operations team walk through it.

3. Does your system require training?

We have pre-trained APIs for common documents such as bank statements, invoices, income verification documents, IRS forms, and Acord forms. These are plug-and-play APIs and you don’t need to train on your dataset. However, the solution requires training for new document types with non-standard layouts and data points. The accuracy and straight through processing increases over time with continuous learning.

4. What fields does Docsumo capture from documents?

For standard document types such as bank statements, Docsumo captures over 20 different fields such as name, account number, bank name, opening balance, and closing balance. To see the full list of fields that are captured for different document types, please check out our API Docs.

5. Can I get a sandbox/free trial account?

Sure. Let’s set up a call and jump right at it! We would like to understand your use case and see if we can meet your requirements. This also ensures that you get the most out of Docsumo platform.

Written by
Pankaj Tripathi
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Can Docsumo be considered as an alternative against Amazon Textract?
IDP
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March 10, 2021
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6 min
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