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How A.I. Improves Traditional OCR Technology

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…
Xtracta Data Engine
June 15, 2018
Blog

The Benefits of AP Invoicing Automation

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.…
Blog

Automating Your AP Invoicing Processing Is As Easy As 1-2-3

How much time does your accounting team spend processing invoices and receipts every month? How long does it take the average invoice to be processed and enter your system? Every extra day that an invoice sits unprocessed, it’s another day until the invoice is paid. Using Xtracta, our system can automatically read, process, and sort your invoices, eliminating hours of manual work that would usually be handled by your employees. Not only will your invoicing processes speed up, but our automated data capture solution will result in fewer errors.   If you aren’t sold yet, let’s dive into why automated…
Blog

What To Look for in an OCR Mobile App and SDK

If you are considering an optical character recognition (OCR) app for your business, there are a few considerations that you should take into account that can help you sift through your options. Understanding the differences between different types of OCR apps, the platforms that they run on, and how they will mesh with your current business processes is important for finding the right solution for your business.   Some of the things you should take into account include understanding the differences between traditional and AI-powered OCR apps, knowing which platforms will be the best fit for your business, and taking…
Xtracta Data Engine
March 5, 2018
Blog

Questions to Ask When Considering Adding Smart OCR Automated Data Capture Into Your Software

“Big data” is a hot-button issue in today’s business world. The rise of the internet and data processing technologies have given way to innovative ways of capturing, processing, storing, and using data to the advantage of your business. According to a report from Evans Data Corporation, more than six million developers worldwide are currently working on big data and advanced analytics projects. Hiring employees for data entry has been commonplace for decades but comes with many downsides. It’s extremely time-consuming, expensive, and is prone to manual entry errors. With the range of options available to businesses today, many have turned…
Xtracta Data Engine
February 19, 2018
Blog

Why New Zealand becoming Australia’s Data Centre Hub can help save our planet

Authored By: Jonathan Spence Data and the internet are becoming ever more critical to the planet’s residents. Even the smallest rural villages in Kenya or India are likely using data services on a daily basis; services whose importance can often be placed far ahead of electricity or even sanitation. The rise of the likes of M-Pesa in what many in the developed world would (arrogantly) consider backwaters is testament to the power of communications and information to transform the lives of all. No matter whether its an SMS message, financial transaction, email, complex business process or cat video, almost all…
Jonathan Spence
November 29, 2017
Blog

Six AP problems that automation can solve

In his outstanding book “Automate This”, author Christopher Steiner tells the story to Thomas Petterfy, a virtual unknown who single-handedly revolutionised the stock trading industry and became one of the richest men on the planet in the process. Petterfy was not a trader, nor did he have a degree or experience in finance. Rather, he was a computer programmer with a visionary sense for identifying inefficiencies and developing ways to solve them. Petterfty developed an automated system for share trading so accurate and efficient that within a decade it had completely redefined the stock market. Pits filled with screaming traders…
Bishal Gauli
November 16, 2017
Blog

Five benefits of Data Extraction and Automation for SME’s

Businesses face many challenges in the modern business environment. Now more than ever, business leaders need to be constantly on lookout for more effective ways of managing jobs. By staying stagnant and not improving processes over time, will mean both short and long term growth will be affected. You may be thinking “We have done it this way for the last 10 years, why should we change now?” By evaluating your business continuously and investing in more efficient processes such as data Automation and extraction, your staff can spend more time on value added activities rather than lengthy, repetitive tasks.…
Xtracta Data Engine
April 5, 2017
Blog

Is Technology Replacing Bookkeeping?

Accounting automation -it’s a term that has been bouncing around the accounting and bookkeeping industry for the past few years. Automation allows accountants and bookkeepers to spend less time on the manual labour they have traditionally spent a majority of their roles on. That sounds ideal, however there has been discussion within the industry that automation is a tool that will replace accountants completely. And it’s partly true. Automation reduces the amount of time spent on manual tasks, for example data extraction, such as ABM Billfeeds, a service that is offered to all customers of ABM’s accounting software. This service…
Xtracta Data Engine
April 4, 2017
Blog

Scanning Tips

Document scanning is often given little thought or consideration. A bit of planning and knowledge about how to approach it can really help the outcomes and make the process faster and more hassle free. Scanner Choice There are a huge number of scanners available on the market. Some are dedicated single function scanners while other are part of a multi-function device with a scanning function alongside printing and copying. When making the choice of what scanner you want to use the three main factors affecting your decision are: Volume of documents you wish to process Your desired image quality level…
Xtracta Data Engine
September 21, 2016