Blog

Opportunities for Bank Statement Extraction Xtracta is a highly flexible system that supports data extraction from numerous document types, including bank statements. The digital revolution has driven an increasing demand for such services, particularly as banks and other lenders switch to more digital platforms.  As a result of this trend, we have seen a rise in demand for bank statement data extraction software across various industries, particularly finance. Today, we explore the importance of bank statement data extraction, its various use cases in different industries, and the benefits of Xtracta’s bank statement extraction capability.  Bank Statement Data Extraction and Its Use Cases Bank statements…

How Automated Inventory Systems Improve Inventory Management As a sub-element of supply chain management, inventory management has been around for more than 20 years. Here, we explore the current state of inventory management and delve into the possibilities offered by automation solutions such as Xtracta’s OCR & AI data capture technology. Learn about the importance of automated inventory systems for supply and demand, the importance of data for company resilience, and more. Why Is Inventory Management for Supply and Demand So Important? Inventory management is fundamental for every company dealing with products, but why is it so important? As every business that survived…

Customs Automation & IDP for the Customs Brokerage Industry Manual document processing costs businesses a fortune every year. This cost is particularly significant for companies within the customs brokerage industry as they deal with high volumes of documents daily. From bills of lading and manifests to certificates, commercial invoices, and more, customs brokers and freight forwarders handle countless documents and forms in various templates, all of which must be sorted, verified, extracted, and processed. Below, we explore why customs automation and intelligent document processing (IDP) are essential for businesses large and small within the industry. Discover how a digital document extraction solution like Xtracta…

Enterprise resource planning (ERP) is an essential part of every business. We explore the role of data capture in an ERP implementation plan. Read on to learn why digital document extraction and data capture software are vital to successfully integrating your ERP implementation. But First, What Is ERP? Enterprise resource planning (ERP) is an all-encompassing business management system. An ERP application gathers inputs from various departments—from manufacturing and supply chain management to accounting, sales, marketing, human resources, etc.—to mediate business processes, offer insights, provide reporting, manage internal controls, and much more. Larger companies often have ERPs that handle all parts…

Data security should be a priority for all companies. Here, we explore practical ways businesses can ensure their data is secure. Read on to learn how security and crime have changed over time and how to increase your data security in today’s data-centred landscape. We review the importance of secure passwords, multifactor authentication, anti-malware, and more. We also discuss the security measures we have in place that clients can rely on when using our data extraction OCR software to streamline their operations. Crime These Days is Largely Committed Online The need for security has been around as long as thieves…

"I’m not sure we can implement this... the information required is complicated to access, stored in different systems, and our teams often need to request paper documents from other teams..." This is one of the most concerning answers we hear when talking to decision-makers about integrating Xtracta into their company software. Unfortunately, this situation is not uncommon. The lack of accessibility to relevant documents within organisations and the persistence of analog data (printed, hard copy documents) are key reasons why many businesses don’t have transparency around their data. Furthermore, most organisations have difficulty accessing data trapped in physical and unstructured…