Hyper-automation has become the number one priority for businesses all across the globe. It not just helps in reducing burden, but also improves accuracy, efficiency, and productivity. Robotic Process Automation is one component of hyper-automation that helps companies in developing software solutions that can take care of their routine tasks.
One of the routine tasks that Robotic Process Automation can handle is data extraction. Data stored in different digital or physical documents is required every now and then to analyze and generate insights. Therefore, let us try and understand how an RPA extractor works in automating this extraction process, and why it is one of the most important things that your business needs right now.
As discussed before, Robotic Process Automation is one of the facilitators of hyper-automation in an organization. Hyper-automation in itself is the enablement of digital systems to take care of all routine tasks without requiring any human intervention. When such automation is implemented with the use of software robots, it is known as Robotic Process Automation. With Robotic Process Automation, any repetitive task which is governed by a set of rules can be automated completely.
Moreover, Robotic Process Automation reduces business costs, increases the speed of data processing, and enhances the productivity of every worker manifold. Secondly, and more importantly, with RPA, employees do not have to spend much of their crucial time on mundane tasks and can focus on strategizing for real business gains.
Talking about an RPA extractor, it is nothing but a line program that can be run in different operating systems. You’ll easily find an RPA extractor for Windows and with a basic understanding of Windows navigation, you can run it to optimize your extraction tasks. Similarly, an RPA extractor for Linux can also be used for automating data extraction in professional settings.
Whenever you see the term data extraction, Optical Character Recognition is the technology that comes to your mind. While simple OCR software in itself is a wonderful invention, there is one big limitation as well. Traditional OCR software can only help in converting images, documents, etc. into digitized text, which you yourself have to use afterward for various operations. Now, by integrating RPA and Artificial Intelligence with OCR, the entire process of data extraction and understanding can be automated. This is the whole premise of deploying RPA extractors for business.
An archive RPA extractor works in a number of steps, and the process is completely rule-based. Firstly, the RPA bot will fetch a document from a folder or a database. Sometimes, by automating scraping scripts, the bot can be enabled to fetch documents even from the web. Once the document has been received, the bot processes it and classifies it as per the file format. It can be a PDF, JPEG, PNG, or any other format for that matter. Besides, the bot also configures whether the document is structured, semi-structured, or unstructured at this stage.
Once this amount of segregation is complete, the OCR application will now be used to extract data and convert it into digital text. But the data which will be produced will not be free of errors. Therefore, the usage of Artificial Intelligence and Machine Learning Models will help in the interpretation, correction, and analysis of the data extracted till now.
AI-based OCR software will match every document with a standard known document from your business records and will check the data to make sure that the final output corresponds to the requirements of the company. Finally, with RPA integration, the system gets to know more about the document and facilitate Intelligent Document Processing. Hence, it is able to analyze it with higher proficiency, and the process ends with the generation of actionable insights.
Once the software bots are made to learn the entire workflow, employees can just sit and relax while the robots complete all the tasks with much higher accuracy. Even aspects like threats, potential financial frauds, malware, etc., will be detected by the robots themselves and you will be notified to take the final action automatically. This way almost all components of business work can be seamlessly automated by Robotic Process Automation.
Robotic Process Automation extractors have easy to deploy software bots. The pipeline for data extraction and document understanding has to be established only once, followed by which you can utilize system APIs, or any custom solutions to just add on to the ease of data extraction.
Companies are perpetually flooded with documents. By integrating RPA with your OCR software, you can process all the data in these documents in a short span. With bots being in the picture, the experience of task automation complemented by a high degree of accuracy is guaranteed.
The bottom line is that traditional OCR software cannot be the solution to modern professional data processing needs. That’s why KlearStack has developed an AI-based OCR software that uses machine learning models to interpret the data more convincingly. Therefore, with our OCR offering, you not only get to extract data easily out of images, PDFs, handwritten pages, etc. but also enable your systems to understand the converted text and make use of the data to drive all future plans.