Document review is a time-consuming process that can be streamlined by cognitive capture technology. Advanced data extraction technology provides a way to capture information from highly complex documents, so key information can be verified, and compliance checks completed. DataSkill recommends using IBM Datacap to digitize all the documents involved in completing a process. Some industries are already utilizing cognitive capture to great effect! In fact, more than 3000 clients and over 30% of US State Governments depend on IBM Datacap. Read on to explore the varied scenarios that are already benefiting from IBM Datacap today.
Benefit management
Government Social Service Agencies use cognitive capture to extract information from multiple documents and cross reference them with internal systems, to assess eligibility for benefits. The process increases accuracy and also traceability.
Account Opening
In the Finance Sector, Banks are looking to improve customer satisfaction by responding quickly to requests. Cognitive capture allows documents to by captured via mobile with efficiency and security, with errors being caught right at the source. The application process can then be automated using business rules, with only low confidence cases requiring handler verification.
Invoice Processing
Across multiple industries, the technology is being used for invoice processing. Paper invoices can get lost, creating delays and late payment costs. Since invoices are generated by different vendors they are not standardized and pose challenges to standard data capture systems. Values extracted from the invoices and information pulled from incumbent systems can be cross-checked against POs. DATA
Loan Applications
Customer correspondence for loan applications can be scanned using IBM Datacap. Digital files can then be sent to a central repository where IBM Datacap can then classify the documents. The key information can be automatically identified. This accelerates document transfer. A faster response to credit requests is possible, by reusing information previously supplied.
Claims Processing
Insurance Agents are using IBM Datacap to capture and upload documents form the policy holder using IBM Datacap on a mobile device. A case is automatically opened. Emails received containing invoices are automatically added to the case. IBM Datacap is then used to extract data and check it against the quote. Fields with low confidence are highlighted to aid verification. By automating processes, the Claims Adjuster has more time to spend investigating possible fraudulent claims.
Employee Onboarding
Employee onboarding in many industries involves manual touchpoints in back offices that reduce the accuracy and consistency of process decisions. IBM Datacap can be used to automate the capture and processing of new application documents. Hiring Managers can then select the right candidate for the position based on analytical models. cost and increase employee satisfaction. This solution supports the division of labor between the HR and IT teams’ tasks and allows the exchange of data between the two.
IBM Datacap is a highly flexible and customizable solution. DataSkill recommends IBM Datacap to solve a variety of business needs. CATTURA by DataSkill fine-tunes the solution. If you have a use case that you think would benefit from intelligent data capture, then DataSkill recommends IBM Datacap. Please reach out to arrange a DataSkill consultation and discover how IBM Datacap can benefit your organization.