LENDING
LENDING
|
September 13, 2021

A Guide to Automating Loan Document Data Extraction

With an automated data extraction solution, loan documents can automatically be processed end-to-end without any human errors and delays. Automation in loan document processing prevents downtimes, eliminates data redundancy, and allows companies to respond faster to client queries. By combining machine learning with deep learning and OCR, companies can eliminate huge costs, derive actionable insights, and streamline loan processing and approvals through efficient data extraction and analysis.

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Hi, I’m Rushabh.
Each day, I speak to people who use our tool so I can learn to make it better. Extract a few PDF’s and let me know what you think.
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IDP
IDP
|
July 13, 2021

Claims Automation : All You need to know about Insurance Claims Processing Automation

Streamlining mundane and repetitive tasks is becoming imperative for claims processing automation to provide an excellent customer experience. In this post, we will cover the steps involved with claims processing along with an overview of the latest claim insurance automation trends.

Read More
IDP
IDP
|
July 13, 2021

How to read Barcodes and what are the best technologies to use

Most barcodes and QR codes are in a scannable format which means they’re easy to read off paper or physical products. But the challenge arises when you’re trying to read these codes from scanned documents since PDFs are not presented in image formats. In this article, we’re going to cover how to read a barcode without a scanner, uses of barcodes, difference between barcodes and QR codes, and more below.

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DATA-EXTRACTION
DATA-EXTRACTION
|
July 13, 2021

Introduction to Data Parsing : Definition, Overview, and Scope of Data Parsing

Read this blog to learn what does data parsing mean and what exactly data parsers do? Learn about importance of data parsing algorithms in whole automated data extraction process.

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IDP
IDP
|
July 13, 2021

Automating data extraction for income verification documents for mortgage loans

Importance and benefits of income document data extraction in BFSI industry. Learn how you can automate data extraction from income verification documents with Docsumo.

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SAAS
SAAS
|
June 30, 2021

Update: Docsumo gets SOC-2 certified - Here’s what you need to know!

We are happy to report that we’ve successfully completed our SOC-2 Type-1 audit, and that Docsumo is now SOC-2 Certified. Getting certified also means you can trust us with your data and there is no need to conduct independent audits when using our services.

Read More
DATA-EXTRACTION
DATA-EXTRACTION
|
June 25, 2021

5 Best Purchase Order Data Extraction Software for Automation

Take a look at top 5 best purchase order data extraction software available in 2021. The comparison is based on accuracy, efficiency, customer satisfaction, and pricing to help you choose the best invoice automation software for your business.

Read More
IDP
IDP
|
June 25, 2021

Why your Business needs a Financial Statements Automation Software

Does your business need a financial statements automation software? Read this blog to learn how to automate data extraction from financial statements.

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DATA-EXTRACTION
DATA-EXTRACTION
|
June 25, 2021

Data Extraction from a 10-K Form-Key Aspects, Trends and Developments

SEC Form 10-K is an unaudited report which compare the financial statements of the previous years with the organization’s current ones. Learn more about 10-K forms in this blog and how to automate data extraction from them.

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IDP
IDP
|
June 23, 2021

Why use Automation Software for Document Processing in Logistics

A quick introduction to supply chain and logistics document processing. Read this blog to learn how Docsumo can help you automate data extraction from different documents types commonly used in logistics industry.

Read More
DATA-EXTRACTION
DATA-EXTRACTION
|
June 23, 2021

Automated Data Extraction from Bills - How to Extract Data from Utility Bills with Docsumo

Read this blog to learn how you can automate data extraction from different bills. Irrespective of types, layout, and template, Docsumo helps you extract data from any utility bill.

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ACCOUNTS-PAYABLE
ACCOUNTS-PAYABLE
|
June 18, 2021

How to Read an Invoice: Important Elements of Full-Cycle Accounts Payable Process

A quick guide to learn about importance of invoices and their crucial elements. Read this blog to get an insight into accounts payable automation with Docsumo.

Read More
COMMERCIAL-REAL-ESTATE
COMMERCIAL-REAL-ESTATE
|
June 18, 2021

Top 10 Financial Models for Commercial Real Estate Property Analysis

Learn about 10 best real estate financial models and Excel sheets. Use this blog as a great reference point for tips, tricks, and other topics related to creating financial models for real estate investments.

Read More
SAAS
SAAS
|
June 17, 2021

Does Your Business Need to Invest in Purchase Order System? Here’s What You Need to Know!

What is Purchase Order System? Read this blog to learn about PO system and benefits if you're looking to invest in an online purchase order system.

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IDP
IDP
|
June 17, 2021

Introduction to Document Layout - Why OCR Solutions Need it?

What is document layout and what is its importance in data extraction technologies such as Optical Character Recognition. Read this blog to learn about document layout and how does it work.

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DATA-EXTRACTION
DATA-EXTRACTION
|
June 14, 2021

What is Document Annotation? What is the Importance of Document Annotation?

In this blog, we talk about the definition of document layout and its importance in document processing. Read this blog to learn more about best practices for annotating documents.

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OCR
OCR
|
June 14, 2021

Docsumo Answers Common FAQs about OCR Solutions

Read this blog to learn the definition of OCR, its accuracy rate and benefits, and answers to all the other frequently asked questions about optical character recognition(OCR).

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IDP
IDP
|
June 14, 2021

How to use Purchase Order Automation to Streamline Your Business Operations with Docsumo

What is purchase order and how to automate purchase order for your business. Docsumo streamlines PO processing with automated data capture using Intelligent OCR technology.

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LENDING
LENDING
|
September 13, 2021

A Guide to Automating Mortgage Document Data Extraction

Mortgage lenders receive multiple identity and income verification documents along with different forms from loan applicants in a variety of formats and styles. Traditional OCR solutions fail to extract data from these semi-structured documents and that’s why more and more lenders are adopting intelligent document processing solutions. IDP solutions not only extract data correctly, they are able to validate extracted data against predefined rules in order to improve accuracy.

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IDP
IDP
|
September 2, 2021

Overview of Intelligent Document Processing (IDP) and its Benefits

Intelligent Document Processing is an automation technology that captures information from a myriad of documents and data sources, extract data, and organizes it for further processing. IDP solutions enable businesses to seamlessly integrate with core processes, eliminate manual labour, address challenges faced in reading different document layouts, and meeting legal & compliance requirements. Accurate data is the foundation of every organization, and IDP assists businesses in dealing with the complexity of processing huge volumes of documents, helping them automate manual data entry processes, and move away from traditional semi-automated OCR workflows.

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IDP
IDP
|
August 9, 2021

All you need to know about Hyperautomation and How it works

Hyperautomation is a blend of AI, RPA, and Machine Learning to automate repetitive tasks for businesses and improve operational workflows. The term was first coined in 1910 and Forrester dubbed it as intelligent process automation based on the way multiple technologies were used to automate business functions and processes. Gartner predicts that the worldwide spending on hyperautomation markets will reach USD 600 billion dollars by 2023 as more and more organizations are adopting digital transformation in the post COVID-19 world. 

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IDP
IDP
|
August 9, 2021

Retail Automation : Use-cases and Benefits of Automation in Retail Industry

Retail automation helps business owners develop better customer loyalty programs, predict upcoming market trends, and facilitate data merge across different channels. In this blog, we give a breakdown of its use cases and show how retail automation can benefit your business.

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IDP
IDP
|
August 9, 2021

Insurance Automation for Claims Processing and How it Works

From underwriting, policy renewal, onboarding, claims processing, and more, RPA is changing the way insurers work and streamlining core business processes. Industry analysis reveals that businesses can speed up claims processing by up to 75% by using RPA technology. Paper-based claims processing slows down workflows and poses a risk of losing documents, which RPA automation is not prone to. The implementation of RPA makes it easier for companies to do credit profile analysis, identify exceptions, process transactions, and reduce time taken for claims processing.

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DATA-EXTRACTION
DATA-EXTRACTION
|
August 9, 2021

Best Insurance Claims Automation Software in 2021

Insurance claims processing deals with the extraction and processing of data from a variety of documents and requires employees to go through intricate details. Automating claims processing has been a challenge faced by companies because of the level of complexity involved in processing insurance documents. However, intelligent document processing using claims automation software is revolutionizing the sector and changing that by leveraging OCR and AI models to scan and interpret information from documents.

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IDP
IDP
|
August 9, 2021

Importance of RPA in Insurance Claim Processing and Why it Works so Well!

RPA in insurance claims processing connects disparate applications and works with legacy systems to automate claims processing without causing any disruptions. The biggest benefit of using RPA for claims processing is that it ensures up to 99.5% data accuracy, organizes information, and makes it easy to migrate or navigate data across different systems. Automatically generated compliance reports, live audits, seamless integrations, and dashboard analytics are some of the various perks associated with using rpa insurance claim software.

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IDP
IDP
|
August 9, 2021

Comprehensive Guide to Purchase Order Processing : What You need to know

PO processing is the journey of the creation of a purchase order and its review, approval, dispatch, and delivery, going all the way to the closure of invoices and budget checks. A Purchase Order is issued by the buyer to verify product shipments being sent by sellers and ensure that the types of products, quantities, and pricing match as per business requirements. The main goal of purchase order processing is to establish a proper flow from purchase ordering to delivery and finance departments PO processing to ensure businesses stay compliant on the legal side for handling financial transactions with suppliers.

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IDP
IDP
|
July 22, 2021

Financial Statement Spreading — Everything You Need to Know

Financial statement spreading is a time-consuming, repetitive, and yet quite a fundamental process for banks on multiple fronts. In this article, we are going to expand on the meaning of the term, talk about what this process hopes to achieve, and how it helps in credit analysis.

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RPA
RPA
|
July 21, 2021

Robotic Process Automation (RPA) in the Finance and Accounting Industry and Latest Trends

RPA solutions make it convenient for bank employees to process enormous volumes of customer data without sacrificing accuracy or precision. RPA has also introduced recent innovations which make it possible for firms to process transactions seamlessly. 

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IDP
IDP
|
July 21, 2021

Benefits of Loan Processing Automation with Docsumo and How it Works

Financial institutions and NBFCs are always looking to diversify their investment portfolio, enhance customer experiences, and scale up by generating enough profits. They can meet these milestones by using Robotic Process Automation (RPA) and other automation technologies for loan processing.

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IDP
IDP
|
July 15, 2021

How to Choose a Bank Statement Analysis Software

Bank statement analysis involves summarizing cash inflows and outflows from statements and providing an overview of financial health of individuals. In this post, we’ll discuss why corporations require bank statement analysis and what to look for when choosing these software solutions.

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IDP
IDP
|
July 15, 2021

Complete Guide to Automated Bank Statement Processing and its Benefits

Bank statement processing helps in digitizing financial statements so that they are managed easily and customers don’t have to worry about losing or missing out on getting data. Bank statement processing automation is also used for account reconciliations and these statements are used for mapping out differences between cash books and pass books. 

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DATA-EXTRACTION
DATA-EXTRACTION
|
July 15, 2021

What is Bank Extract?

Bank statement processing software is used by major organizations to verify client profiles and streamline customer onboarding processes. In this post, we’ll discuss what bank extracts are, how they differ from bank statements, and which industries require them. 

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OCR
OCR
|
July 15, 2021

Automating Data Extraction form Bank statements using OCR technology

Optical Character Recognition (OCR) helps extract data from pdf/images to convert paper-based documents and pdf documents to Excel, CSV, and other formats. OCR allows banks to quickly scan customer data from PDF documents, convert, and make them searchable with efficient document processing, thus accelerating the rate of approvals for loans and new account applications.

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IDP
IDP
|
July 15, 2021

Introduction to Bank Statements - Importance, Requirements, and Benefits

Bank statements are generated by banks to deliver customers records of their overall financials. There are several good reasons to review your bank statements weekly but the biggest reason customers check their bank statements is to prevent fraudulent activities and ensure they don’t end up paying exorbitant banking fees for account maintenance.

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IDP
IDP
|
July 15, 2021

An Introduction to Financial Account Statements and different types

Account statements are records maintained by businesses to give an overview of their financial performance. There are various types of account statements which are important for every company and we will be providing an overview of what to look for when processing data from them.

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IDP
IDP
|
July 13, 2021

Claims Automation : All You need to know about Insurance Claims Processing Automation

Streamlining mundane and repetitive tasks is becoming imperative for claims processing automation to provide an excellent customer experience. In this post, we will cover the steps involved with claims processing along with an overview of the latest claim insurance automation trends.

Read More
IDP
IDP
|
July 13, 2021

How to read Barcodes and what are the best technologies to use

Most barcodes and QR codes are in a scannable format which means they’re easy to read off paper or physical products. But the challenge arises when you’re trying to read these codes from scanned documents since PDFs are not presented in image formats. In this article, we’re going to cover how to read a barcode without a scanner, uses of barcodes, difference between barcodes and QR codes, and more below.

Read More
DATA-EXTRACTION
DATA-EXTRACTION
|
July 13, 2021

Introduction to Data Parsing : Definition, Overview, and Scope of Data Parsing

Read this blog to learn what does data parsing mean and what exactly data parsers do? Learn about importance of data parsing algorithms in whole automated data extraction process.

Read More
IDP
IDP
|
July 13, 2021

Automating data extraction for income verification documents for mortgage loans

Importance and benefits of income document data extraction in BFSI industry. Learn how you can automate data extraction from income verification documents with Docsumo.

Read More
SAAS
SAAS
|
June 30, 2021

Update: Docsumo gets SOC-2 certified - Here’s what you need to know!

We are happy to report that we’ve successfully completed our SOC-2 Type-1 audit, and that Docsumo is now SOC-2 Certified. Getting certified also means you can trust us with your data and there is no need to conduct independent audits when using our services.

Read More
DATA-EXTRACTION
DATA-EXTRACTION
|
June 25, 2021

5 Best Purchase Order Data Extraction Software for Automation

Take a look at top 5 best purchase order data extraction software available in 2021. The comparison is based on accuracy, efficiency, customer satisfaction, and pricing to help you choose the best invoice automation software for your business.

Read More
IDP
IDP
|
June 25, 2021

Why your Business needs a Financial Statements Automation Software

Does your business need a financial statements automation software? Read this blog to learn how to automate data extraction from financial statements.

Read More
DATA-EXTRACTION
DATA-EXTRACTION
|
June 25, 2021

Data Extraction from a 10-K Form-Key Aspects, Trends and Developments

SEC Form 10-K is an unaudited report which compare the financial statements of the previous years with the organization’s current ones. Learn more about 10-K forms in this blog and how to automate data extraction from them.

Read More
IDP
IDP
|
June 23, 2021

Why use Automation Software for Document Processing in Logistics

A quick introduction to supply chain and logistics document processing. Read this blog to learn how Docsumo can help you automate data extraction from different documents types commonly used in logistics industry.

Read More
DATA-EXTRACTION
DATA-EXTRACTION
|
June 23, 2021

Automated Data Extraction from Bills - How to Extract Data from Utility Bills with Docsumo

Read this blog to learn how you can automate data extraction from different bills. Irrespective of types, layout, and template, Docsumo helps you extract data from any utility bill.

Read More
ACCOUNTS-PAYABLE
ACCOUNTS-PAYABLE
|
June 18, 2021

How to Read an Invoice: Important Elements of Full-Cycle Accounts Payable Process

A quick guide to learn about importance of invoices and their crucial elements. Read this blog to get an insight into accounts payable automation with Docsumo.

Read More
COMMERCIAL-REAL-ESTATE
COMMERCIAL-REAL-ESTATE
|
June 18, 2021

Top 10 Financial Models for Commercial Real Estate Property Analysis

Learn about 10 best real estate financial models and Excel sheets. Use this blog as a great reference point for tips, tricks, and other topics related to creating financial models for real estate investments.

Read More
SAAS
SAAS
|
June 17, 2021

Does Your Business Need to Invest in Purchase Order System? Here’s What You Need to Know!

What is Purchase Order System? Read this blog to learn about PO system and benefits if you're looking to invest in an online purchase order system.

Read More
Hi, I’m Rushabh.
Each day, I speak to people who use our tool so I can learn to make it better. Extract a few PDF’s and let me know what you think.
Let’s see how Docsumo extracts data for you.
Contact Us
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