Leveraging Botminds AI to automate document processing

15 December 2021

Documents contain valuable information. Automating Document Processing provides the abilities that help you build an AI-powered data enrichment platform for document processing and storage.

Manual document processing is a major impediment for many businesses, making digital transformation initiatives to a standstill demanding more time and resources. With the number of documents continuing to burgeon, it's more significant than ever to automate your document processing.

A study reports the global Intelligent Document Processing market size is expected to grow from USD 0.8 billion in 2021 to USD 3.7 billion in 2026, at a Compound Annual Growth Rate (CAGR) of 36.8%.

However, pressure exists to satisfy ever-augmenting customer demands, reduce costs, and changing regulations. These are a few things that continue to strain processes that rely on the information.

Botminds AI overcome these challenges to prevent employee burnout through Intelligent document processing (IDP). The platform seamlessly transforms unstructured data into better insights automating your document process.

Let's dive into the perks of using the Botminds platform.

Promotes automation at scale

Botminds Intelligent Document Processing platform is a powerful enabler of end-to-end process automation. This is one of the significant benefits of Botminds IDP as it facilitates process improvement.

Furthermore, IDP improves workflow eliminating manual document processing with AI to organize and automatically process incoming document traffic.

Simplifies compliance

Sorting, extracting,  processing the documents and validating the information are mundane tasks that consume both time and money. Botminds IDP effortlessly automates these activities, eventually simplifying and ensuring compliance with complex regulations.

Contrastingly, data privacy being a concern for most organizations, adopting IDP will not be a problem as it secures technology capable of data theft or misuse.

Supports scalability

Cloud-native deployment model, unified platform, and business-friendly artificial intelligence are the three main factors  For an IDP solution to be scalable with ease, and Botminds has it all.

Cloud providers allow users to scale their computing infrastructure dynamically, and this modular nature allows Botminds IDP to process hundreds of documents in parallel, meeting processing demands.

Botminds unified platform is not just about extracting data but also cross-checking manually before processing the same.

Increases speed

Botminds IDP processes the sheer volume of documents with great speed and accuracy. However, manually processing documents consumes a lot of time, leaving your data prone to errors. Such errors have implications on your business that can impede as we advance and can never be overlooked. By implementing Botminds IDP, your business can yield error-free results taking a small fraction of one's time.

Greater accuracy

These solutions not only complete the job faster, but they process it more accurately. Botminds IDP's impressive accuracy rate makes it an ideal solution for handling any compliance-related document. In addition, with improved processing time and straight-through processing, Botminds IDP solution need little or no human intervention.

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