Intelligent Document Processing Across Industries

Unlocking Efficiency with Document Intelligence

In today's fast-paced business environment, efficient document management is crucial for success. With over 150,000 successful installations, FabSoft solutions have been implemented into the daily operations of many prominent companies worldwide. With all this experience, we know that many businesses can benefit from document intelligence, sometimes referred to as IDP (Intelligent Document Processing).

In this guide, we highlight just a few of the businesses that can benefit from using IDP and explain the various applications of IDP within those organizations. Our blog is your gateway to understanding how advanced document intelligence solutions can reform your workflow.

Banking, Financial Services, and Insurance (BFSI) Institutions

BFSI organizations can use intelligent document processing software to significantly improve their document workflows by automating the process of capturing and digitizing paper documents and moving them throughout the business. Document intelligence software leverages technologies such as Alternate Reality (AI), Machine Learning (ML), and Natural Language Processing (NLP). BFSI organizations need document intelligence to manage large volumes of transactional documents that include:

• Credit card applications
• Loan applications
• Personal finance documents
• Financial applications
• Invoices
• Tax returns
• Payroll
• Claims
• Contracts

For example, to review loan documents, AI technology and NLP can extract information from documents and generate recommendations for legal and financial teams. Document intelligence reduces the time required for document review and frees up time for lawyers and legal teams to focus on more complex tasks. Document intelligence software also increases visibility into the statuses of accounts and transactions and reduces the risk of errors.

To learn more, read our blog, The Benefits of Document Capture Software in the Finance and Insurance Industry, and our case study SysConnect Automates Form Creation and Document Routing for IPS.

Healthcare Institutions

Intelligent document software is beneficial across healthcare institutions. Medical professionals must deliver the best patient care while fulfilling documentation and compliance requirements. These tasks involve large volumes of paperwork that must be processed as quickly as possible. Medical professionals rely upon document intelligence to streamline the digitization of medical records, update medical records, register patients, manage prescriptions, generate referrals, and more. Care providers, human resource departments, care coordination, recruiting and staffing teams, and administrators can all use document intelligence to increase accuracy, adhere to compliance standards, improve productivity, increase security, and reduce costs.

To learn more, read the Freepath Pathology Laboratory success story, Medical Company Automates Their Workflow.

Real Estate

Commercial real estate companies handle large volumes of lengthy, unstructured documents, including purchase and sale agreements, leases, appraisals, mortgage documents, legal contracts, and more. Document intelligence software is now a business requirement because it is efficient and effective. With document intelligence software, real estate professionals can gain insight into property portfolios, analyze documents for offer scenarios, manage deadlines, generate tax reports, and create service agreements.

To learn more about our solution's benefits to real estate, read the success story, Document Capture for the Real Estate Software.

Retail, Wholesale, and Distribution

As intermediaries between manufacturers and end-users, distributors maintain product lines and provide services. As crucial members of the supply chain, retail businesses, wholesalers, and distributors must manage vast amounts of documents, including the following:

• Invoices
• Purchase orders
• Employee files
• Purchase records
• Service history records
• Service agreements
• Compliance documents
• Tax documents

To meet increasing demands and stay competitive, businesses must be able to optimize inventories, quickly resolve customer service issues, and streamline workflows. Document intelligence makes all of these objectives possible with more practicality and success than any other method.

To learn more about retail solutions, read our blog The Benefits of Document Capture Software in the Retail Industry. To learn more about distributor solutions, read this success story, Document Capture for the Aerospace Industry.