let bots do the paper pushing
UiPath Document Understanding powered by Artificial Intelligence (AI) teaches software robots to read and understand documents so they do 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. 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 human error when you allow your RPA bots to take on the tedious tasks of reading and inputting information that comes from the endless forms required to do business. Document Understanding speeds up processes across many industries where the volume of forms is high — such as mortgage, banking, insurance, and more–with a high degree of accuracy. Plus, DU can read structured or semi-structured documents and your bots will continue to “learn” from human interactions and previous iterations of tasks, improving their performance over time.
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.
UiPath Document Understanding utilizes software robots to read and understand the many documents involved in the invoicing process. It recognizes 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 information to continue to “learn”.
Efficient processing of accounts payables provides immediate benefit to your business with:
- A reduction in employee time required to complete the process
- Time spent process payments instead of data entry
- Better cash flow management
A common challenge in the mortgage industry involves the extraction of information multiple forms for input to loan origination systems. Time-consuming manual data entry needed to meet closing deadlines, and ensuring accuracy can mean redundant interactions between loan processors, customers, and decision makers.
Utilize RPA to process the paperwork, including:
- Document Understanding to read an extract data from PDF’s and other file formats
- Collecting data from multiple sources for input into loan origination systems.
- Create “human in the loop” tasks when they encounter exceptions or need more data
- Move on to the next process so business keeps moving.
With a tailored UiPath solution, the client achieved:
- 85-90% automation of closing disclosures.
- 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 tedious, time consuming, and often customer unfriendly as information ens up in a black hole of manual work.
Implement RPA 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 and even handwriting
- Input to internal system or alert human for involvement when an exception is detected
- A human workforce with more time for higher impact work
- A better customer experience with improved response times
- A point of difference versus 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 data extraction tools that will work best for your unique assortment, as well as scale as your needs evolve. 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 the scale of data or addressing common issues with publicly available solutions.
machine learning models
For organizations with large mounts of data from which to train their own models.