When it comes to data and documents, the universe of information has exploded, far faster and becoming much bigger than many realize.
Until 2003, humankind generated a TOTAL of five exabytes of data — equal to one billion gigabytes. That is the equivalent of ALL the words EVER spoken by any human being (stored as a txt file).
Today, we produce five exabytes of data every TWO days.
Where is all of this data coming from?
The majority of it is it is unstructured content — audio and video files, Word documents, PDFs, presentations and images that cannot be efficiently managed using structured data systems like enterprise resource management systems.
Big data companies specialize in transforming client data into knowledge that can better inform their business decisions and streamline their business processes. To get there, most companies need a better way to organize, manage and distill information out of a wide variety of documents and content that lacks a common structure.
For most organizations, one of the biggest challenges is extracting data from paper documents, which contains an enourmous amount of unstructed content — without human intervention.
That’s where intelligent data extraction solutions, designed to identify actionable data from unstructured content like invoices, sales orders, bills of lading and just about anything else you can think of, come into play.
Partnering with Artsyl allows you to:
The docAlpha Digital Transformation Platform from Artsyl automatically identifies and extracts data from electronic documents using a rules-based algorithm that can learn and adapt over time.
Intelligent data extraction allows organizations to gather more data, with fewer errors, faster and more efficiently than ever before.
For processes like accounts payable, that can translate into better control over cash flow and a greater ability to capitalize on early payment discounts. For sales order processing, intelligent data extraction can lead to fewer days sales outstanding, improved customer satisfaction and deeper insights into customer purchase behavior and buying trends.
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For specific processes like procure to pay or order to cash, smart process applications built on top of the docAlpha Digital Transformation Platform provide a pre-packaged set of rules for specific document types.
As a result, customers can quickly implement a solution to sort through thousands of invoices/purchase orders/etc. and capture relevant transaction data with a minimal amount of effort and no custom coding or services required.
Artsyl Smart Process Applications include:
InvoiceAction for accounts payable invoice processing
OrderAction for sales order processing
ClaimAction for medical claims processing
To learn more about docAlpha smart process applications, click here