Document processing is inherently time-consuming. Not only does a company need to determine what exactly the document is, where it’s coming from, what details it contains, which department it needs to go to, which process it needs to be aligned with, but most importantly – what action needs to be taken from the information contained within. A Document Intelligence (DI) Platform can automate these business practices to give your people and company back time, reduce the amount of risk, increase accuracy, and bring down operating costs. In a world where Artificial Intelligence is at the forefront of enabling businesses to be more successful, ThoughtTrace has found a solution for your company that will alleviate the need to manually process documents. Gone are the days of needing endless resources, outsourcing, or contractors just to process documents. Our Document Understanding platform puts critical insights at your fingertips. Let’s take a deeper dive into how exactly this works.
Document Intelligence & Machine Learning
The speed at which industries are changing requires an organization to be able to pivot at any given moment. However, the rate at which decisions are made does not align with an environment in that is in perpetual motion. ThoughtTrace assists with Document Intelligence as part of an overarching Decision Intelligence strategy, by organizing and surfacing all relevant information and context to the table in a few clicks. What’s even more advantageous is that it’s not a complicated platform where you need the technically savvy skilled employee to capitalize on the benefits. ThoughtTrace makes it easy to categorize and find your content, ensuring that it is secure while making it easily accessible. We hold the gold standard of robust security and document auditing through our SOC 2 Type 2 certification to ensure you’re protected. Our technology will help you find exactly what you need, when you need it. All document content is analyzed using best-in-class Optical Character Recognition (OCR)/embedded document OCR for improved searchability and useability. Since it’s built to easily scale, thousands of documents can be uploaded in an instance. AI models automate the classification and categorization process and continue to learn and adapt to your organization’s way the more documents are uploaded.
How does DI Leverage NLP & Machine Learning?
The naked eye isn’t always able to catch everything, and in those instances, not only is quality sacrificed, but it often means rework. The beauty of DI is the combination of speed and accuracy. To provide a little context, NLP looks at how phrases, words, sentences relate to one another and can go as far as data extraction, dialogue interface, and translation. Put simply, it’s how computers work with the human language by software, whether it’s speech or written text. Machine learning for NLP helps turn unstructured text into usable data and insights.
The real value of an AI-assisted solution, however, is derived from what it can provide on top of that basic functional framework. ThoughtTrace, for example, builds, maintains, and makes available extraordinarily deep and domain-specific models targeted at extracting key provisions and data elements. Our solution is trained to address this full spectrum, from basic functional needs like document classification and indexing all the way down to industry-specific data extractions driven by the intent of the language.
Visit the ThoughtTrace Platform page or request a demonstration to learn more.