Explore how UiPath Document Understanding revolutionizes businesses by transforming unstructured document data into actionable insights. Discover real-world applications and the simplicity behind this game-changing technology.
The world creates approximately 2.5 quintillion bytes of data each day. That’s 18 zeros. The sheer volume of data produced is getting harder to maintain, monitor, or work with, particularly for businesses.
In fact, nearly 80% of organizations estimate that up to 90% of their data is unstructured. This often includes handwritten notes, documents, checkboxes, social media activities, and even signatures. Documents come in all shapes and sizes, from structured forms to free-form text. Some might be rotated, skewed, or low-resolution.
So, how can businesses keep up? The answer is UiPath Document Understanding.
What is Document Understanding?
Imagine if software robots had the power to understand documents. Or to put it in human terms, to read and digest them. Document Understanding does exactly that. It combines Optical Character Recognition (OCR) with advanced solutions like Artificial Intelligence (AI) and Machine Learning (ML) to extract meaningful information from these documents, making it easier for automation systems to understand and work with the data they contain.
These solutions effortlessly extract, interpret, and process data from PDFs, images, handwritten documents, and scans. This technology is particularly useful for tasks like data extraction, information validation, and decision-making based on the content of documents. The UiPath Document Understanding solution gives intelligence to your robots with the ability to tackle digital and handwritten paperwork with an AI-powered boost.
Using Document Understanding to reduce errors
Like anything, it’s easier to explain the benefits of a technology with an example. So, let’s start with a manufacturing corporation that handles a multitude of supplier invoices. Manually processing these invoices is a time-consuming task and can often be prone to errors. Document Understanding steps in to revolutionize the process.
Suppliers can now submit invoices in various formats—scans, PDFs, or digital copies—and the company’s system can swiftly process them. It accurately extracts critical information such as values or PO numbers while ensuring data validity. And if the robot is not sure, it can seamlessly bring a human into the loop to validate or confirm extraction results before processing.
This streamlined approach isn’t just about speed; it’s about accuracy. Document Understanding’s automated data extraction minimizes human errors, leading to precise processing and improved efficiency.
Improve compliance and data governance
Document Understanding can also support compliance.
Imagine a legal department, inundated with contracts, agreements, and court filings. These documents are dense with critical clauses and obligations that demand scrupulous attention. Document Understanding can help.
Advanced software robots can meticulously dissect these legal documents, rapidly identifying and extracting essential details such as dates, clauses, and obligations. These bots comb the documents, ensuring that no vital information is missed, picking it out for staff to action.
This streamlined process not only saves time but also reduces the risk of non-compliance or misinterpretations that could lead to legal disputes. Document Understanding empowers the firm to focus on strategic legal analysis while entrusting routine yet crucial tasks to the bots. As a result, compliance efforts become more efficient, precise, and aligned with legal adherence.
Provide better customer experiences
However, compliance is not the only benefit that Document Understanding offers organizations. Imagine now an insurance company handling a variety of claims from policyholders—ranging from accidents to property damage. These claims often require submitting crucial documents such as incident reports, medical bills, and images. With Document Understanding, the process takes a customer-centric turn.
Policyholders can easily upload their documents in various formats, from scanned copies to photos. Document Understanding instantly processes the submissions, splitting up and categorizing the submitted documents, extracting essential information, verifying accuracy, and, where necessary, performing onward processing of various document types.
This streamlined approach transforms the customer experience. Instead of navigating complex procedures, policyholders encounter a simplified process with quicker confirmations and updates, alleviating any uncertainty. Not only that, staff have more time to focus on dealing with customers, rather than spending time processing paperwork.
Time to explore?
UiPath Document Understanding isn’t just smart; it’s also a lifelong learner. With out-of-the-box and custom machine learning models, it continuously improves accuracy over time with automatic retraining, making them sharper with every task.