Let Bots Do the Paper Pushing
UiPath Document Understanding powered by Artificial Intelligence (AI) teaches software robots to read and understand documents, doing the paper pushing for you.
Shrink That Pile of Forms
With DU, everyday documents such as contracts, invoices, and onboarding papers can be processed automatically, so your employees can spend time on more valuable work. As one of the few UiPath Certified Partners with full Document Understanding certification and project experience, Neostella has helped many businesses improve their processes and workflow with Document Understanding.
59% Of Workers
Say they could eliminate at least six hours of redundant work each week.*
*According to a 2017 McKinsey & Company report
30% Of Workers
Indicate that they want to learn RPA skills*
*According to a UiPath survey of 4500 global workers
RPA for Better Use of Your Time and Resources
Save time, frustration, and error when you allow your RPA bots to take on the tedious tasks of reading and managing data that comes from the endless forms required to do business. Document Understanding speeds up processes across many industries where the volume of forms tends to be high, such as: mortgage, banking, insurance, and manufacturing. Document Understanding bots can also read structured or semi-structured documents. In addition, your bots will continue to “learn” from human interactions and previous iterations of tasks, improving their performance over time.
invoice processing using rpa
Many businesses handle large numbers of invoices, which when processed manually can be a slow, tedious process. Validating these invoices against purchase orders and the subsequent manual entry of data into accounting systems is time consuming and can cause delays in payment to vendors.
Upgrade your invoice processing using RPA. UiPath Document Understanding utilizes software robots to read and understand the many documents involved in invoice processing. These bots recognize many different objects, including tables, handwriting, signatures and check boxes; and can work with multiple file formats. The bot will alert a human for validation when it detects inaccuracies or exceptions, and uses this data to further “learn” how to manage documents with AI.
Efficient RPA invoice processing of accounts payables provides immediate benefit to your business with:
- A reduction in employee time required to complete the process
- More time spent processing payments instead of data entry
- Better cash flow management
A common challenge in the mortgage industry involves the extraction of data from multiple forms, then inputting that data into loan origination systems. Time-consuming manual data entry and the accuracy of this data needed to meet closing deadlines can mean redundant interactions between loan processors, customers, and decision makers.
Utilize RPA to extract the needed data and process the paperwork. For example:
- Use Document Understanding to read and extract data from PDFs and other file formats
- Collect data from multiple sources for easy input into loan origination systems
- Create “human in the loop” tasks when bots encounter exceptions or need more data
- Have more time to be able to move on to the next necessary process, so business keeps moving
With a tailored UiPath Document Understanding solution, the client will achieve:
- 85-90% automation of closing disclosures, saving you time and mistakes
- An increase in application processing speed due to process automation, resulting in greater customer satisfaction
- 100% data accuracy in automated disclosures.
- Ability to process 500+ closing disclosures per week.
- Positive ROI for cost of UiPath implementation
Banks process a large volume of forms every single day, including Know Your Customer data for both new and existing accounts, mobile deposits, and credit applications. The process of obtaining and inputting necessary data into core banking systems is time consuming and often customer unfriendly, as information ends up in a black hole of manual work.
Implement UiPath with Document Understanding to:
- Listen for response of document completion
- Open documents and reply back to sender if data is missing or incomplete
- Read and extract data from multiple sources, including scans, faxes, digital documents, and even handwritten documents
- Input into your internal system or alert an employee for involvement when an exception is detected
RPA in data extraction and kyc allows for greater workplace efficiency. Just a few of the benefits include:
- A human workforce with more time for higher impact work
- A better customer experience with improved response times
- A point of difference when compared to similarly sized institutions who have not adopted RPA technology
- Better data accuracy and less compliance issues
Three Options to Meet your Needs
Most companies need the data that comes from multiple types of forms to do business, making the accurate extraction of that data crucial. Whether you are dealing with highly standardized forms, lots of unstructured information, or a mix of both, Neostella can help develop the RPA data extraction tools that are best for your unique needs. Not sure what you need? We can help. LEARN MORE→
Suitable for documents that have a fixed format, such as bank or tax forms.
Existing Trained Models
For organizations that do not have a high scale of data or addressing common issues with publicly available solutions.
Machine Learning Models
For organizations with large amounts of data, needing to train their own unique AI models.