In the age of Artificial Intelligence and Machine Learning, there are many solutions that solve problems enterprises face on a day-to-day. One of the prominent issues that enterprises face is time consumption and the error-filled process of manual data entry of data from different types of documents.
KlearStack AI and Docsumo are such solutions that accurately predict text from the document and helps to digitize your documents. Both these solutions are document processing solutions that help enterprises to streamline their document management processes.
But there are certain differences between the two solutions as well. We will deep dive into it with this blog.
Docsumo uses contextual artificial intelligence technologies to understand the text on the document. Data from Template-free documents can be then extracted using NLP and computer vision technologies. Apart from this, Docsumo also uses machine-learning technologies to self-learn and retrain the systems as more and more documents are processed using the platform.
KlearStack AI also uses similar artificial intelligence technologies for template-free documents. Invoices, receipts, purchase orders, and bills of lading are some of the many types of documents that are examples of template-free documents. Data from these types of documents can be extracted accurately using similar artificial intelligence technologies as used in Docsumo.
Docsumo can extract data accurately for template-based and template-free documents. The approximate percentage of accuracy is about 70-80% and with retraining, it can achieve more than 90% accuracy. The retraining of Docsumo gets better as more documents are processed through the platform. The confidence score will depend on the document types and if modules for them are already created. For new modules (agreement, insurance policy documents etc.)
KlearStack AI can achieve about the same percentage of accuracy for template-based and template-free documents. However, one distinction between the two is that for unseen documents, KlearStack AI can achieve the same level of accuracy. This concept is called Day Zero Accuracy.
In terms of speed, depending on the document types, Docsumo can process about a thousand documents in a minute or two, accurately. It takes a few seconds to process a hundred documents if the template modules are set up for the required document.
For KlearStack AI, it can take upto a similar amount of time to process a thousand documents. Modules for invoices, receipts, purchase orders and other such documents are already created, which makes it efficient to process and automate the such type of documents.
Straight Through Processing:
Straight Through Processing is an additional layer of automation wherein documents can be processed if certain conditions are met. It initiates end-to-end document processing.
For Docsumo, it is important that these rules are set in order to make sure that all the data that is stored at the back end is cross-verified with other documents and only then it is stored. If for some reason conditions are not met, the documents go into the manual queue.
In the case of KlearStack AI, these rules can be set and based on the cross-verification, documents can be processed if all the conditions are met. If they do not, just like in the case of Docsumo, documents go back into the manual queue. However, the system will learn from this and improve its accuracy from next time onwards.
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Both, Docsumo as well as KlearStack AI provides the ability to transform the data. Enterprises at times require standardising the column headers and that ability is provided in both these platforms. Using NLP technology, it is possible to have standardised column headers and other text on a particular document.
Docsumo has the ability to integrate itself via API or direct software integration with various other workflow and database management solutions. Microsoft Automate, SAP, and QuickBooks are some of the many software with which Docsumo can be fully integrated. Through Zapier, it can be integrated with any other platform.
KlearStack AI can also be integrated with QuickBooks, SAP and similar solutions to store the data at the backend. Through its APIs KlearStack AI platform can be integrated easily with any other existing solution. Learn in details about KlearStack integration
Day Zero Accuracy: A Unique Concept by KlearStack
One very clear distinction that KlearStack AI has over Docsumo is the concept of Day Zero Accuracy. With Day Zero Accuracy, unseen documents by the KlearStack AI can achieve nearly 20-30% higher accuracy than any other document intelligence and data extraction platform.
With Day Zero Accuracy, KlearStack AI can documents with higher accuracy than the KlearStack platform has ever seen before in the first attempt itself. This helps enterprises to start their document processing from the first day itself and get rid of their existing process of entering and storing data.
While KlearStack AI & Docsumo have a similar process of document automation, the edge that KlearStack AI has over Docsumo is the Day Zero Accuracy. With this, enterprises have the ability to start document processing and automation from the first day itself and extract data accurately with speed from these documents.
It would be advisable for your enterprise to book a demo with different document automation solutions and try it out yourself before you can decide. To schedule a demo with KlearStack AI and interact with our experts, click here.