Enterprises are moving away from processing documents manually and aiming to implement automated solutions to extract, validate and store documents at common locations. The pace at which this change should happen across the globe needs to speed up. One study shows that nearly 83% of employees have to recreate existing documents as they cannot find them in their company network. One of the main reasons why employees have to recreate existing documents is because most of the documents are still paper-based.
Digitization of everyday documents such as invoices, purchase orders, receipts, bill of lading and so on is a must. Not just digitization, but also, processing them entirely without any human intervention with higher accuracy is also very important as it can save costs and time for the enterprises.
KlearStack AI enables end-to-end documentation by leveraging Intelligent Document Processes (IDP) and advanced OCR technologies. This helps KlearStack AI to contextually understand the data in the documents and therefore, enables automated document classification, data extraction and data validation.
KlearStack AI offers various methods to upload documents on the platform to make it convenient and adaptable for your enterprise.
KlearStack AI provides three channels for enterprises to upload and process documents: KlearStack AI Dashboard, RESTful APIs & Dedicated Enterprise Email ID.
KlearStack AI Dashboard:
KlearStack AI provides a very user-friendly interface for its browser dashboard. Below are the steps you have to follow after you login to the KlearStack AI portal.
Step 1: Click on the Add New button on the top right side of the dashboard
Step 2: Choose the file to upload from your computer. KlearStack AI supports multiple formats such as JPEG, PDF, PNG and so on.
Step 3: Choose whether the document you are uploading is a B2C or a B2B document. This helps KlearStack AI to separate documents before it starts processing the document.
Step 4: You can check the uploaded file under the tab Upload Status, beside Add New button.
RESTful APIs allow you to integrate KlearStack AI with your on-premise or cloud-based solution. The interface will be very much similar and offer all the functionalities that KlearStack AI’s dashboard provides. You can use the APIs to upload documents that need to be processed with ease.
Dedicated Enterprise Email ID:
Another method that KlearStack AI provides to upload documents is through email. KlearStack team can create a dedicated email for your enterprise. Documents such as invoices, purchase orders and receipts will be automatically captured from the incoming and outgoing emails through the enterprise-specific email id and will be uploaded on the KlearStack AI platform directly. This will help you save time uploading documents manually and increase the productivity and operational efficiency of your organization.
Advantages of Using KlearStack AI
Higher Level of Accuracy:
KlearStack AI uses state-of-the-art technology that enables it to achieve the highest level of accuracy. Also, KlearStack AI self-learns and self-evolves as more and more documents are processed through the platform. Therefore, the platform becomes more accurate in data extraction as the variety of documents that are being processed increases. At some level, manual inputs may be fed into the system which will again help to achieve higher accuracy going forward.
Ready for Peak Business Seasons:
Entering data manually from documents into the system is a cumbersome task with plenty of chances of causing errors. On top of that, if a peak business season arrives, the chances of the document backlog may increase. With KlearStack AI, your enterprise will be ready for the peak business season as it can process plenty of documents accurately at the almost same time as any other business quarter. This provides you peace of mind as you need not worry about processing documents, and you can focus on growing your business.
Interprets Data as Humans:
Traditional OCR systems would interpret the data as it is and extract it. The same is not the case with KlearStack AI. KlearStack AI uses Natural Language Processing (NLP) and computer vision to dissect and interpret data, as a human would do. Computer vision helps to break large image sets into smaller ones and analyse them. NLP helps to contextually understand the textual content and interprets the data. This reduces the error rate in extraction and increases the accuracy.
Building Trust with Partners:
Using KlearStack AI means bringing operational efficiency to your organization. This means that as documents are processed on time, payments to various stakeholders are made on time as well. Trust is built between your enterprise and different stakeholders as payments are cleared on time. Trust is a currency that is not earned easily. Implementing a simple solution such as KlearStack AI, it can help your enterprise accelerate the process of gaining trust.
Successful Use Cases
KlearStack AI has been implemented by a number of trusted partners and the results are impressive, to say the least. Thanks to its state-of-the-art technology, KlearStack AI can not only extract and classify data from documents but can also validate it automatically. Through an added layer of automation for data validation called Straight Through Processing (STP), KlearStack AI can achieve fully automated end-to-end documentation. Cross verification invoices and receipts are one of the many examples of STP.
Below are results from a bank that had implemented KlearStack AI for end-to-end automated documentation:
- 70% cost reduction in document processing operations
- 300% improvement in turn-around time for processing loans
- 100% improvement in team productivity
- Approximately 15,000 human hours were saved per month
Apart from this, there was an improvement in qualitative outcomes such as better customer experience, increase in the retention rate of customers, enhancement in the agility of the business and so on.
KlearStack AI brings improvement not only for your team and operations, but it also helps to grow your business and take it to new heights.
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