Automatically extracting processable data from business documents, whether they have the structure of a form or not, is key to business efficiency. Costs associated with manually converting documents to data are significant, and human error rates guarantee a level of expensive rework. Industries have standards for electronically exchanging data, but the market, for reasons known and unknown, still relies on exchanging documents, forcing every business to bear the cost of data entry or implement document automation to control those costs. That’s where machine learning comes in.
A key financial process for any business is getting the check in the bank. Leaving customer payments laying around is literally leaving money on the table. The faster payments are credited to your accounts, the better your overall cash flow.