Blog

The Importance of Scalable Document Capture Software

For many businesses, especially large organisations that process high volumes of data daily, using data extraction software that is efficient and scalable is essential. Many of Xtracta’s clients process an excess of 200,000 documents through our platform each month. If you whittle that down to the number of documents captured per working day, with 21 working days per month—that’s roughly 10,000 documents per day. For businesses that process documents at high volumes like this, it’s vital that the software can scale to meet processing demand. Here, we discuss the importance of this concept and demonstrate how Xtracta meets these expectations.…

Xtracta Admin2021-09-14

Blog

The Role of Machine Learning in Xtracta

While there are countless companies providing data extraction software, most of them use template-based software, requiring users to input a document map first. In this blog post, we discuss why Xtracta is different, and how machine learning allows our software to discover, classify, and understand new and complex documents with far greater efficiency than template-based processing software. To establish how Xtracta’s machine learning approach is different from other data capture models, let’s briefly explore traditional forms of data capture and template-based processing. Traditional Forms of Data Capture Before the days of OCR data capture, documents such as invoices and…

Xtracta Admin2021-09-10

Blog

On-Premise/Private Cloud

When it comes to cloud hosting options for businesses, Xtracta’s public cloud is the most common option clients choose. However, did you know that Xtracta offers more than one type of cloud hosting? In fact, we have three different hosting options for clients to consider. Public Cloud Xtracta’s public cloud platform is similar to cloud platforms such as Gmail, where all users share the same underlying infrastructure with their own set space on those servers. Because the infrastructure is shared between users, it is often cheaper. Another benefit of this option is the speed of setup - the public cloud…

Xtracta Admin2021-08-20

News & Media Releases

Introducing Lánluas Consulting | New Partner

Xtracta is pleased to announce its recent partnership with Lánluas Consulting, a leading provider of enterprise system consulting services across Australia and New Zealand. Lánluas specialises in building solutions around the Technology One ERP system—a system used extensively in key sectors such as local governments and higher educations in Australia and New Zealand. With a focus on the Australasian market, this partnership is driving Xtracta’s expansive data extraction capabilities into numerous organisations in the region, with a multitude of application and process automation possibilities. In response to this business partnership, John Speed, Chief Executive of Lánluas stated that:“We chose to…

Xtracta Admin2021-08-18

Blog

Deep Learning & How it Impacts Intelligent Document Processing

Recently, there has been a push towards deep learning and the opportunities it offers within the realm of artificial intelligence (AI). From self-driving cars to voice and image recognition, deep learning stands behind many technological innovations and already impacts multiple aspects of human life. Today, we break down the fundamentals of deep machine learning, exploring its relevance within document data extraction software and explaining why—for Xtracta—it may not always be the best approach for our software or clients. A Definition of Deep Learning Deep learning is a class of machine learning algorithms that uses a multi-layered filter system to…

Xtracta Admin2021-08-13

Blog

Intelligent Document Processing in Large Companies

While Intelligent Document Processing (IDP) helps SMEs to grow, it also plays an instrumental role in the internal operations of larger companies. Below, we explore the importance of Document capture software and OCR technology for large businesses and companies looking to grow. Data Processing for Small and Large Companies Data is a fundamental part of every organisation’s workflows as it enables the daily progress of many business processes. Furthermore, for many businesses—especially large organisations or companies looking to advance in their industry—the pressure to reduce company costs, satisfy the demand of an ever-growing client base, and comply with…

Xtracta Admin2021-07-29

Blog

Eliminating Human Error: How OCR Data Capture Helps

No matter the industry, when data entry is involved, the same concern crops up again and again—our human tendency to make mistakes. The prevalence of human error is undeniable—and it can often take up more time in business than people think. Below we explore the impact of incorrect data input for organisations and discuss the benefits of OCR data capture and data extraction software in comparison to manual data entry, and the human tendency to err. To Err is Human Fundamentally, we all know humans are prone to make mistakes, especially when overworked, tired, distracted—the list goes on.…

Xtracta Admin2021-07-29

Blog

Data Capture Vs. Data Entry: Battle of the Data | Xtracta

Data arrives in many forms and formats, and a streamlined business will have a strategy to input that data effectively. Today, businesses must strike the right balance between the adaptability of hands-on manual data entry and the efficiency of automated data capture, bridging the divide between the past and the future to develop a successful, holistic approach. Below, we break down the principles of automated data capture versus manual data entry, discussing how each plays a role in business operations and what companies can do to leverage them successfully. What is Manual Data Entry? Manual data entry is…

Xtracta Admin2021-06-30

Blog

Straight-Through Processing: Saving Time on a Big Scale

Many companies are embracing automation to save time and money with their document processing practices. That said, there is one step of the process that still takes up valuable employee resources: verification. Despite the advancements of automated data extraction, many hours are still being lost to manually verifying data that has already been processed. Enter straight-through processing (also known by its acronym STP). Thanks to improved accuracy, artificial intelligence algorithms, and confidence margins, systems like Xtracta can eliminate the verification step. Dive in as we explain what straight-through processing is, how it saves time on a big scale, and…

Xtracta Admin2021-05-05

Blog

Data Extraction and Industries: Where Automation Fits In

When most people think of automated data extraction, they think of invoices, structured documents, and reconciliations. In other words, most people’s idea of potential data extraction applications is restricted to numbers, billing, and money. But there are so many other ways in which programs like Xtracta can help businesses thrive. In this blog post, we’re delving into the ways that automation can revolutionise any business, no matter the industry. Customs Brokerage One of Xtracta’s largest clients is in the North American customs brokerage vertical, assisting importers and exporters with navigating the intricacies of customs regulations. As anyone who’s…

Xtracta Admin2021-05-04