Document processing is very complicated because of the many formats, languages and document types coming from many external sources – your customers, banks, logistics providers and other financial
supply chain partners.
Data extraction from invoices, checks, remittances, lockbox files, bank statements, receipts and other documents is very cumbersome and very costly for global finance and treasury organizations.
Manual data extraction is expensive and time-consuming. Robotic Process Automation(RPA) does not work well with multiple unknown document formats. Most companies outsource finance and treasury document processing (BPO) or shift the processing to lower cost shared service locations (SSCs). Most companies also incur thousands of dollars in banking lockbox and data entry fees.
Welcome to the Future of Finance – Touchless Documents Processing with AI
- No more copy and pasting.
- No human will ever need to extract data from finance documents manually.
- No more manual data entry.