The overload of manual data processing has never been an ideal method of doing business. Document verification has always been slow, costly, and disruptive to workplace decision-making. Also, as more data is processed and more information becomes available, it becomes difficult to manage the documents from which that data originates.
Disruption of outdated document processing methods
Manual data processing
A manual process creates unwanted disruptions caused by confusion, distractions and misinterpretations. Thus, continuous processing under these conditions impacts the quality of the information and the speed of execution.
Mistakes are common
As the business grows, the number of documents processed also increases. Productivity becomes difficult to control manually and valuable information begins to be ignored or sent incorrectly. Invalid documents are a common problem that companies struggle to minimize. This problem creates delays and slows production, which affects efficiency. In other words, the time and cost increase dramatically during the data verification process, deeply affecting the business of companies and customers.
Because of this, the repeated processing of documents ultimately affects the quality of verified information. Workers begin to depend on visual models to interpret familiar information and sort through previously processed data. Our brains naturally jump or take mental shortcuts to process information faster. The more data our brain processes, the more it fills in gaps or overlooks vital details, leading to inconsistencies that compromise business reliability.
Why data processing is extremely expensive
The United States alone spends over $100 billion a year on manual document processing, driving up costs. Additionally, as data consumption continues to grow, any business’s workflow will slow down and lead to future processing delays that lead to higher costs for manual labor.
Not all documents provide the same template or length, and workers must process information very slowly to reduce costly errors. For example, 1.5 million workers in the United States manually process their documents, ignoring AI-based solutions that can dramatically improve processing time and data accuracy.
Implementing a solution that processes documents autonomously will dramatically reduce these issues by eliminating additional manpower with highly accurate and consistent AI at a fraction of their current cost.
The era of AI-powered document processing
Unlike manual data entry, businesses are always attracted to reliable tools to bring the best solutions to their problems. Unfortunately, humans can no longer keep up with the processing power of AI. Automating document processing allows companies to get real-time data extraction and verify any information contained in a document.
This technology improves performance and shows customers a company’s promise to use the most efficient and value-driven service possible. Therefore, as more and more competitors start using automation, those who do not implement an AI solution for their processing will lose their competitive advantage, which can cause companies to fall behind. their competitors and losing the interest of their customers.
AI-powered document processing is becoming an industry standard for all businesses
Artificial intelligence has become beneficial for companies in all sectors. By enabling AI to perform tasks without human intervention, businesses can focus on more critical tasks and make decisions faster. AI-based software has begun to support document processing, but most businesses still rely on some form of manual document processing that slows down their workflow.
However, automating this workflow allows users to verify information instantly while reducing latency. To process documents, several functions including machine learning, neural networks, and computer vision are used to understand any document.
How does AI processing work?
Artificial Intelligence is helping companies develop a faster and more accurate workflow where instantaneous processing is changing the way companies make decisions. But how does it work? Intelligent machines are created with algorithms that work like neural networks to capture relationships between various underlying variables, such as documents.
Computer vision breaks down images for pattern recognition with past data as a reference to predict new information. This process does not require manual labor to operate and continues to improve as it collects more data.
Systems can analyze and learn patterns with labeled information to target specific areas in an image and instantly process the data.
What is Base64.ai?
Base64.ai is a leading automated data extraction solution that automates the process of manual data entry with high accuracy and security. The software can extract data, text, tables, images, barcodes, key-value pairs, and handwriting from IDs, driver’s licenses, passports, travel visas, invoices and many other types of documents, such as all types of forms in 60 different languages. in 180 countries.
Base64.ai’s OCR and AI technologies extract data from documents that can make automated business decisions, such as rejecting the document or inserting it into the database, using a single API call.
In addition to data extraction, Base64.ai can handle both photos and multi-page documents for non-stop processing. Moreover, their API can extract data according to a specific purpose and restrict unwanted data.
For facial recognition, Base64.ai AI uses images such as ID photos or selfies for real-time verification that allows businesses to evaluate any image against a secure library and verify their fleet of employees.
It can also recognize facial changes like hair, beard, and masks to decrease inconvenience while checking.
Processing with Base64.ai
can work in the cloud or on-premises while the API generates a standardized JSON response for all document types. These AI solutions accurately identify patterns in text and use machine learning to predict new information with high confidence. When processing a document, Base64.ai detects image quality issues such as blurring and glare in a photo. The Base64.ai API results list any imperfection it notices and display that data to inform the reader.
Businesses can integrate with Base64.ai using its API. Alternatively, they can add a line of script into their existing website or software and allow users to process their documents directly from their existing website or mobile app. The line of code inserts a widget where documents are dropped or uploaded for processing.
Companies typically wait weeks to integrate with existing solutions and pay additional fees to vendors. However, with Base64.ai, integration can take less than 2 hours for desktop and mobile environments. Their API adapts to website settings that provide a seamless experience to the user. Additionally, Base64.ai offers a widget that businesses can apply directly to their existing site.
Integration with Base64.ai
Prior to Base64.ai, companies processed their documents through an expensive manual process. Although third-party vendors verify their information for a cheap and quick operation, the validation was very inaccurate. As a result, some documents would lack essential data, false information and typos that would go unnoticed.
Documents took a long time to process and did not provide a better user experience. These companies have therefore sought to improve their processing time and service by changing the way they process their data.
During the second quarter of 2021, Base64.ai worked with a healthcare provider looking to improve their document processing. The goal was to eliminate the need for human intervention and significantly change the way they process their Summary of Benefits and Coverage (SBC) forms.
This template provided by health insurance companies explains their insurance plans in detail to customers. Having verifiable data is crucial for any business, especially when it comes to healthcare. Base64.ai could improve the accuracy of its client’s verification while significantly reducing processing time.
Currently, Base64.ai allows its client to reduce their processing time from 10 days to seconds. This allows the client to provide the fastest turnaround time in their industry.
Overall, an automated document processing solution powered by an AI-based API is becoming increasingly popular for businesses. It enabled a desire to stay ahead of the competition and lead in a world where the problems of expensive and unreliable manual labor persist.
Having a solution like Base64.ai will enable businesses in all industries to effectively take the steps necessary to enter an autonomous world.
Image credit: provided by the author; Thank you!