Forms Processing

Get 99%+ accurate data from your forms with 10x efficiency

Extract data from all IRS tax returns, ACORD & Medicaid forms in seconds, with ready-to-use AI/ML document models.
Reduce turnaround time for document processing from days and months to seconds.
Add an additional layer of accuracy by getting your teams to remove outliers or uncertain extractions with a human reviewer and automated validation checks.

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Valtatech reduced their invoice processing time from a few hours to < 5 minutes with 99% accuracy.

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National Debt Relief got a straight through processing rate of over 95% for their financial documents.

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Jones document processing time reduced from minutes to seconds for their ACORD forms.

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Biagi Bros is saving more than 500 hours per month on their Bill of Lading processing.

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Problem statement

Forms processing requires your operations team to manually extract data from documents like ACORD forms, tax returns, and Medicaid forms, which is time-consuming & error-prone.

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What docs do we handle?

ACORD forms

Medicaid claim forms

W2 Forms

W9 Forms

Loan Application

IRS Tax Returns

Certificate of origin

Form 1120-S & 1040C

Form 940, 990

Verification Forms

Authorization Forms

Equipment inventory forms

Docsumo - Get human-like cognition and flexibility to process forms in any industry

INSURANCE FORMS PROCESSING

Extract data from complex, multi-page ACORD forms

Automate data extraction from ACORD forms, IRS tax forms, or claims documents easily. Use our pre-trained APIs for pre-defined fields like customer name, coverage, premiums, certificate number, company name and more

ACORD 25, 26, 27, 28
ACORD 125, 126, 127, 130
Medicare/Medicaid health insurance claim forms
Custom model your insurance forms
Insurance verification forms
Insurance authorization forms
Auto insurance quote forms

IRS TAX RETURNS AND FORMS PROCESSING

Power up your underwriting with automated data extraction from IRS Tax returns

Extract key values and tables instantly from all kinds of tax returns.

W-2, W-9 Forms
Form 940, 990
Form 1120-S, 1040C
Site survey forms
Apartment inspection forms
Loan application forms

COMMERCIAL LENDING FORM PROCESSING

Drive 100% lending automation with APIs to classify forms, identify key points, and validate data

Know creditworthiness of borrowers and streamline your commercial lending workflows with automated data extraction of lending applications/forms.

Business loan application forms
Sources-uses forms
Commercial lending forms
IRS tax forms

LOGISTICS FORM PROCESSING

Make your supply chain operations smarter with automated forms processing

Get business-ready data from your supply chain forms with intelligent automation and enhance visibility of your shipment.

Certificate of origin forms
Delivery confirmation forms
Customs forms
Equipment inventory forms
Courier registration forms
Inventory adjustment forms

ACORD Forms Processing Case Study

How Jones reduced their ACORD form processing time from minutes to seconds

Challenge

Manually extracting data was rough for the operations team. With no standard format, finding the right data was like searching for a needle in a haystack. It gave them whiplash trying to track fields across documents. Not to mention the mind-numbing work of scanning page after page. This manual grind couldn't scale with increasing volumes.

Solution

Scanned document images of ACORD forms using advanced OCR techniques like vectorization
Leveraged proprietary NLP models to classify and extract key-value pairs
Made intelligent predictions using contextual analysis algorithms
Validated extracted data against custom rules for 99% accuracy
Offered flexible APIs to deliver structured JSON output

Results

What once required tedious manual work, now happens automatically. Jones reduced time and costs by over 80% while boosting accuracy past 95%.

Processing U.S. Individual Income Tax Return Form

<8s

Processing time of unstructured data reduced to <8 seconds

95%+

Touchless processing using smart validation rules

99%+

Accuracy with end-to-end automation

See how we can help your operations team

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Docsumo's intelligent document processing enables you to extract data easily, efficiently, and accurately. Fill up the form to speak with an automation expert.