The overhead of manual data processing has never been an ideal method to conduct business. Verifying documents has always been slow, expensive, and disruptive to decision-making in the workplace. In Addition, as more data is processed and more information becomes available, it becomes difficult to manage the documents from which this data comes.
Disrupting Outdated Methods to Processing Document
Manual Data Processing
A manual process creates unwanted disruptions caused by confusion, distractions, and misinterpretation. Therefore, continuously processing under these conditions impacts the quality of information and execution speed.
Errors Are Common
As the business grows, the number of processed documents grows too. Productivity becomes challenging to control manually, and valuable information begins to be skipped or sent incorrectly. Invalid documents are a frequent issue businesses struggle to minimize. This problem creates delays and slows down production, which affects efficiency. In other words, time and costs increase dramatically during the data verification process, profoundly affecting both businesses and customers’ affairs.
Because of this, repeatedly processing documents ultimately affects the quality of verified information. Workers begin to depend on visual patterns to interpret familiar information and sort to previously processed data. Our brain naturally skips over or takes mental shortcuts to process information faster. The more data our brain processes, the more it fills in the gaps or overlooks vital details, which leads to inconsistencies that jeopardize the reliability of the business.
Why Processing Data Is Extremely Costly
The US alone spends over 100 billion dollars annually on manual document processing, rising costs. In Addition, as data consumption continues to grow, the workflow of any business will slow down and cause future processing delays that will lead to paying higher costs for manual labor.
Not all documents provide the same template or lengths, and workers must process information very slowly to reduce expensive errors. For instance, 1.5 million workers across the US are manually processing their documents, unaware of AI-powered solutions that can significantly improve the processing time and data accuracy.
Implementing a solution that autonomously processes documents will drastically reduce these problems by eliminating additional labor with a highly accurate and consistent AI for a fraction of their current cost.
The Age of AI-Powered Document Processing
In contrast to manual data entry, businesses are always attracted to reliable tools to provide the best solutions for their problems. Unfortunately, humans can no longer keep up with the processing power of AI. Automating document processing enables businesses to obtain real-time data extraction and verify any information within a document.
This technology improves performance and shows customers a company’s promise to use the most efficient and value-orientated service possible. Therefore, as more competitors begin to use automation, those who fail to implement an AI solution for their processing will lose their competitive edge, which may cause businesses to fall behind their competitors and lose the interest of their customers.
AI-Powered Document Processing Is Becoming an Industry Standard for All Companies
Artificial intelligence has become beneficial to companies in any industry. By allowing AI to complete tasks without human intervention, companies can focus on more critical jobs and make decisions faster. AI-driven software has begun taking over document processing, yet, most companies are still relying on some form of manual document processing that slows down their workflow.
However, automating this workflow enables users to verify information instantly while reducing lag time. To process documents, several functions, including machine learning, neural networks, and computer vision, are used to understand any document.
How Does AI Processing Work?
Artificial intelligence is helping businesses develop a faster and more accurate workflow where instant processing is changing the way businesses make decisions. But how does it work? Intelligent machines are created with algorithms that function as neural networks to capture relationships between various underlying variables, such as documents.
Computer vision breaks down images for pattern recognition with past data as a reference to predict new information. This process does not need manual labor to operate and continues to improve as it collects more data.
Systems can analyze and learn from models with labeled information to target specific areas in an image and instantly process data.
What is Base64.ai?
Base64.ai is a leading automated data extraction solution that automates the manual data entry process with high accuracy and security. The software can extract data, text, tables, images, barcodes, key-value pairs, and handwriting from IDs, driver licenses, passports, travel visas, invoices, and many other document types, such as all types of forms in 60 different languages across 180 countries.
Base64.ai OCR and AI technologies extract document data that can make automated business decisions, such as rejecting the document or inserting it into the database, using a single API call.
In Addition to data extraction, Base64.ai can handle both photos and multi-page documents for undisrupted processing. Furthermore, their API can extract data according to a specific focus and restrict unwanted data.
For facial recognition, Base64.ai AI uses images like ID photos or selfies for real-time verification that enable businesses to assess any image against a secure library and check their fleet of employees.
It can also recognize facial changes like hair, beards, and masks to diminish any inconveniences during verification.
Processing with Base64.ai
can work in the cloud or on-premise while the API outputs a standardized JSON response for all document types. These AI solutions accurately identify patterns in text and use machine learning to predict new information with high confidence. While processing a document, Base64.ai detects image quality issues like blur and glare in a photo. Base64.ai API results list any imperfection it notices and displays this data to inform the reader.
Businesses can integrate with Base64.ai using its API. Alternatively, they can add one line of script into their existing website or software and allow users to process their documents directly from their existing website or mobile app. The one line of code inserts a widget where documents are dropped or uploaded for processing.
Businesses typically wait weeks to integrate existing solutions and pay additional fees to vendors. Yet, with Base64.ai, integration can take less than 2 hours for desktop and mobile environments. Their API adjusts to the website’s parameters that provide a seamless experience for the user. Additionally, Base64.ai offers a widget that businesses can directly apply to their existing site.
Integration with Base64.ai
Before Base64.ai, companies handled their documents through an expensive manual process. While having third-party vendors verify their information for an inexpensive and fast operation, validation was highly inaccurate. As a result, some documents would miss essential data, false information, and typos that would go unnoticed.
Documents took a very long time to process and didn’t allow for a better user experience. So these companies sought to improve their processing time and service by changing how they process their data.
During the second quarter of 2021, Base64.ai worked with a healthcare provider looking to improve their document processing. The goal was to eliminate the need for human intervention and significantly change how they process their Summary of Benefits and Coverage(SBC) forms.
This template provided by healthcare insurance companies explains their insurance plans to customers in detail. Having verifiable data is crucial to any business, especially when dealing with health. Base64.ai could improve their client’s verification accuracy while significantly reducing processing time.
Currently, Base64.ai enables their client to reduce their processing time from 10 days to a matter of seconds. This allows the client to provide the fastest turnaround time in their industry.
Overall, an automated document processing solution powered by an AI-driven API is becoming increasingly popular for businesses. This has enabled an urge to get ahead of the competition and lead in a world where expensive and unreliable manual labor problems persist.
Having a solution like Base64.ai will enable businesses in all industries to efficiently take the necessary action to step into an autonomous world.
Image Credit: Provided by the author; Thank you!
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