Straight Through Processing 101

When it comes to processing invoices, receipts, purchase orders and so on, an organization has to deal with tons of paperwork. Apart from that, human intervention is a must at all stages. This can create certain delays in processing critical documents and leading to backlogs and delays in the production & distribution of goods and services.

It is estimated that employees spent up to 40% of their time only searching documents manually. Combining the strengths of advanced OCR technology and Straight Through Processing, such delays can be reduced drastically

Straight Through Processing (STP) is a process that makes document processing completely automated and requires almost zero human intervention. From the very beginning till the end, any type of documents, be it invoices, receipts, purchase orders, identification documents, all of them are processed without any manual inputs.

STP is a part of Intelligent Document Processing (IDP) and using self-learning Artificial Intelligence technology, the entire process can be upgraded automatically. Unstructured and unorganized documents can also be processed through STP.