Get Rid of Manual Processing Errors With Document Data Extraction Software

• Debt settlement - Docsumo automates the extraction of critical data from financial statements, bank statements, and other relevant documents involved in debt settlement processes. With a high accuracy rate of 99%, it can quickly pull essential information such as outstanding balances, payment histories, and creditor details.
• Revenue reconciliation - Financial operations teams utilize Docsumo’s advanced AI models to extract and validate revenue-related data from various sources, such as invoices, bank statements, and operating statements. The ability to handle complex tables and nested data structures ensures that all revenue entries are accurately captured and matched against the correct bank deposits or invoices.
• Income verification - Docsumo can accurately extract income-related data from pay stubs, tax returns, and bank statements. Its ability to validate extracted data against predefined criteria ensures that the information is accurate and reliable. This ensures quick and accurate income verification for loan approvals or credit assessments, reducing the time taken to process applications.
• Accounts payable - Docsumo helps automate document data extraction from invoices and payment documents, allowing organizations to capture key details such as vendor names, amounts due, and payment terms without manual intervention. Its smart table extraction capabilities enable it to handle complex invoice formats seamlessly. Furthermore, integration with financial software like QuickBooks ensures smooth data flow into accounting systems.
• Accounts receivable - Docsumo can efficiently extract customer invoices and payment receipts data. It allows businesses to improve their collection efforts, reduce sales outstanding (DSO) days, track outstanding payments, and manage cash flow effectively.

Docsumo’s data extraction software allows National Debt Relief, one of America’s largest debt settlement firms, to save over 2.5k hours per year with 95%+ extraction accuracy.

• Risk management - Docsumo enables organizations to quickly identify potential risks and liabilities by automating data extraction from risk assessment reports, compliance documents, and insurance claims.
• Utility bill management: Docsumo efficiently extracts relevant document data from utility bills, such as usage patterns and billing amounts. This automation helps software companies better manage operational costs by providing insights into utility expenses without manual data entry.
• Bookkeeping - Docsumo’s document data extraction automates the processing of financial statements, receipts, and transaction records, simplifying bookkeeping tasks. This reduces the time spent on manual entries and enhances accuracy in financial reporting.
• Invoice processing - Docsumo automates the document data extraction of key invoice details (e.g., vendor information, amounts due) from diverse formats.

Docsumo partnered with Vertikal, a risk management platform, to help them save $20k in annual outsourcing costs with 40% lower document processing time.

• Property/asset management - Docsumo streamlines property management by extracting data from lease agreements and maintenance records, leading to improved tenant onboarding and experience. 
• Rent roll management - The document data extraction software automates the extraction of rent roll data to accurately track rental income and tenant details. 
• CRE underwriting - Automating the extraction of borrower information from mortgage applications and financial statements aids in quicker underwriting decisions. This improves accuracy in assessing borrower creditworthiness and proactively proactively identifying potential cash flow issues.
• Utility bill management - Docsumo’s data extraction software pulls utility bill data, helping property managers monitor utility costs effectively and identify areas for savings.
• Insurance compliance - The platform efficiently extracts critical compliance-related information from certificates of insurance, ensuring that real estate firms adhere to regulatory requirements while minimizing non-compliance risks.

Docsumo enables Westland, a property management company, to save over 2,000 work hours monthly and drive 98% accuracy in utility bill data extraction by leveraging complex deep learning and LLM to identify patterns.

• Shipment tracking - By automating the extraction of shipment details from bills of lading and tracking documents with advanced shipment notifications, Docsumo helps the logistics team fast-track shipment processing. This leads to improved tracking accuracy and quicker response times.
• Accounts payable - Seamless data extraction of dispatch tickets and trucking receipts allows logistics companies to streamline their accounts payable processes and ensure timely payments to suppliers and truck drivers.
• Invoice processing - Docsumo efficiently helps operations teams extract data from invoices related to shipping costs and logistics services to improve cash flow management.

NS Trucking, an American aggregate hauling company, leverages Docsumo’s data extraction system daily to save 5,000 work hours in manual processing time with 94% accurate dispatch ticket processing.

• Accounts payable - Docsumo simplifies accounts payable processing for energy companies by automating invoice data extraction from utility vendors. This reduces manual entry errors and speeds up payment cycles.
• Utility bill management - Docsumo extracts relevant data from utility bills to analyze consumption patterns and cost management. This helps organizations optimize energy usage, manage carbon emissions, and reduce costs effectively.

Docsumo allows Carbon Direct, a New York-based carbon management company, to reduce reporting errors by 35% and ensures the visibility of carbon footprints in real time. This, in turn, saves them over $2,500 in processing costs. 

• Accounts payable - Automating invoice processing for medical supplies and services streamlines accounts payable operations in healthcare settings. This ensures timely payments while reducing administrative burdens.
• Insurance compliance - Docsumo helps healthcare teams extract critical information from insurance claims forms, minimizing the risk of claim denials due to missing or incorrect information.
• Income verification - Automating the extraction of income-related documents (e.g., pay stubs) facilitates quick income verification for patient financial assessments, speeding up eligibility determinations for financial assistance programs.
• Patient application processing - Docsumo streamlines patient application processing by reducing wait times for processing applications and enhancing patient experience.

Leveraging Docsumo, Cassena Care, a healthcare firm based in New York, processes over 130k medicaid applications yearly 2x faster with 99.81% accuracy, leading to faster patient onboarding and an improved focus on delivering quality care.