Document Understanding (DU): Smart Management of Your Documents
Documents have always played a central role in the business world. However, processing and understanding the data within these documents quickly and accurately is crucial for streamlining business processes and reducing costs. This is where Document Understanding (DU) comes into play.
What is Document Understanding (DU)?
As the name suggests, Document Understanding is a technology that enables the understanding and processing of the content within documents. DU can classify, extract, and interpret text, data, and content from various types of documents, ranging from handwritten documents to digital text, invoices to identity documents.
Benefits of Document Understanding
DU offers several advantages to improve business processes and enhance efficiency:
- Swift and Precise Data Processing: DU efficiently processes documents quickly and with high accuracy, reducing data entry errors and minimizing human intervention.
- Time and Cost Savings: Automatic document processing accelerates document analysis and classification, resulting in time and cost savings.
- Data Analytics and Decision Making: DU extracts and structures data, allowing organizations to better analyze data and make informed decisions.
IDA and Document Understanding: A Perfect Pair
The Unite Intelligent Digital Automation Platform (IDA) leverages Document Understanding to further strengthen and optimize business processes. Here are some key advantages of IDA's integration with DU:
- Page-Based Payment: IDA employs a page-based payment model, enabling you to pay only for the services you need. This reduces overall business costs.
- Superior ML Models: IDA utilizes UniteBT's high-performing Machine Learning (ML) models. These models achieve over 90% accuracy in processing documents such as invoices, identities, receipts, licenses, driver's licenses, and passports, optimizing document processing workflows.
- RaaS and DaaS Integration: Furthermore, while DU alone may not achieve much, the IDA platform facilitates the integration of documents read within the system through Robotic Process Automation (RPA). This enables end-to-end automated processes, from the initiation of a document to its integration into ERP systems. All this can be accomplished without the need for additional licensing or infrastructure costs, with payments based solely on a page and minute basis.
Document Understanding represents a significant revolution in document management and data analytics for businesses. When combined with IDA, these technologies empower organizations to operate smarter, faster, and more effectively. By using DU and IDA to enhance document processing workflows, you can increase efficiency and gain a competitive advantage in your industry.