Top five document priorities in APAC

For many businesses, the need to manually process documents — think invoices, receipts, purchases orders, statement of accounts, delivery notes, air waybills, bills of lading, packing lists and more — is a real pain point.

Indeed, many companies are now rushing to embrace Intelligence Document Processing (IDP) to automate the extraction of data from structured, semi-structured, and unstructured documents. IDP applies several technologies including Optical Character Recognition (OCR), Artificial Intelligence (AI), Natural Language Processing (NLP), Computer Vision (CV) and Machine Learning (ML), and can bring about significant benefits, including:

• 35% cost reduction compared to manual document processing

• 52% decrease in errors that mitigates the risk of rework and related losses

• 17% reduction in time employees spend on document processing

• 40% increase in employee productivity or customer satisfaction

And do you know which are the top 5 documents that are most commonly automated in the Asia Pacific region? They are:

1. Identity Documents

2. Air Waybills

3. Invoices

4. Bank Statements

5. Sea Waybills

Interested to learn more about how the processing of invoices can be automated in a straight-through manner for your accounts payable team? Check out the case study in the link below:

Case Study

#idp #intelligentdocumentprocessing #ocr #opticalcharacterrecognition #cv #computervision #nlp #naturallanguageprocessing #genai #generativeai