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What is Intelligent Document Processing? Intelligent Document Processing (IDP) is the core of Xtracta. It’s the reason we offer a ‘set and forget’ approach to document processing—a result of artificial intelligence and machine learning combining to interpret documents of all structures, lengths, and styles. But why does this exist in the first place, when standard data capture software already exists? The answer has to do with efficiency and scalability. While companies have happily dealt with templating their documents for many years now, unstructured documents like emails, notes, and industry reports are now being seen as the information gold mines they…

For companies faced with hundreds of documents to process, accurately extracting the data within meant a lot of time and effort, until automated data entry software changed the game forever. Unfortunately, many types of this software aren’t configured to handle many documents once. Either that, or their cost structures make it impossibly expensive to process more than a few documents a day. This is what separates Xtracta from other data entry software; our cost structures and processing capabilities make it easy to churn through large amounts of data efficiently. Discover how Xtracta can process many documents in a row, and…

A few decades ago, machine learning and artificial intelligence (AI) were terms seen mostly in science fiction, heralding a future that we could only marvel at. However, thanks to speedy advancements in technology, the neural networks of the 1950s have quickly shifted to the deep learning networks of the present day. Before we get into the nitty-gritty, it’s important to know that machine learning and artificial intelligence are not separate from each other. Machine learning is in fact a branch of artificial intelligence, facilitating the wide array of tasks the modern AI can accomplish. Whether it’s creating a self-driving car…

Whether it’s receipt scanner software or a full-service data extraction program, good data capture will always benefit from machine learning. With an adaptable approach to template creation and document types, data capture can change the way your business operates. Here at Xtracta, we believe in the power of learning software. That’s why we’ve developed our data capture software to give businesses a versatile, adaptable, and intelligent companion in the data collection process. So, why is data capture is made better by machine learning and how is it pushing the field forward as a whole? Find out below! What are the…

Running a business is all about managing your resources, both in terms of how much money you have and how many employees you need to get the work done. Despite this, many businesses still opt to leave data entry, processing, and other busywork to their employees when these tasks could be completed using automated data extraction. Corporate competition has never been more intense, and in an age of aggressive technological advancement, shockingly few companies are opting to automate their data entry processes. Beyond that, automation could be a key aspect of a business’ recovery strategy during the pandemic. Automation is…

Internet companies are under DDoS siege. Is the best defence a strong offense? Preface: While I appreciate what is proposed in this blog may be extreme and have flaws, it is just a proposed idea. Comments and critique are welcome. Why we need to take the offensive to all those who don't want to play their role in keeping one of humanity's biggest achievements from being destroyed. The internet and how it operates is something most people take for granted. As long as they can grab their phone out of their pocket or open their laptop, people's expectations are that…

Does your company receive invoices or other documents in several different languages? For companies that operate in multiple nations or continents, this is common and can lead to issues with document categorization and indexing. Not all OCR solutions offer natural language processing or the ability to capture and extract data from documents in different languages. If your company deals with documents in different languages, that is a problem.   Xtracta’s solutions use natural language processing (NLP) to evaluate and categorize documents, no matter what language they use. Over time, repeated exposure to a language helps Xtracta’s systems to better understand…

One of the biggest challenges many companies face when it comes to AP invoice processing is an over-reliance on people and manual paper processes. These labor-intensive tasks slow down the processing of invoices and increases the chances of human error. There are many benefits to automating AP invoicing processes including time savings, cost savings, reduced security risks, and improvements in overall operational efficiency. Let’s examine and quantify some of the direct benefits that your company will enjoy from AP invoicing automation: Save Time A recent study by Aberdeen showed that AP invoicing automation can lower invoice processing times down from…

Today OCR technology is commonplace in companies that collect and process a large number of documents. Using the technology isn’t a competitive advantage, it’s a necessity to compete in fast-paced industries. However, there are some OCR solutions that allow you to capture that competitive advantage and improve your data recognition and extraction capabilities across the board. Those solutions use A.I. and machine learning to continually adapt and improve in rapidly changing conditions and give companies the ability to put their data to use.   A.I.-powered OCR solutions enable your company to harness the data that you already collect, improve your…

AP invoicing is an area where many companies are poised for improvement. Despite automation creeping into business processes all around us, too many companies are over-reliant on employees and paper-based processes. This laborious process actually hurts businesses on several fronts — it costs more money, requires more time, and ultimately leads to more errors according to PayStream’s “2017 Invoice Workflow Automation Report.” Using Xtracta’s automated data-entry solutions, you can automate a majority of your invoice processing tasks. We’ve worked with companies like Scandinavian Vehicle Distributors, Ryman Healthcare, and Nando’s to implement automating invoicing solutions that complement their current invoicing processes.…