It may be difficult to determine which intelligent document retrieval solution is the best match for automating manual operations associated with back-office functions like invoice approvals and inventory management. Multiple alternatives that provide comparable functionality are available, after all.
Before choosing any intelligent document retrieval solution, it is understandable that a little bit of investigation is necessary. The following is a list of questions that should be addressed while evaluating the various intelligent document retrieval solutions that are available to you. This list is intended to make the process a little bit less difficult.
There is no way to make your vendors and employees change their behavior in a single day. They must acquire knowledge and adjust to the new developments, which necessitates a period of time. Consequently, it is imperative that you ensure that you are content with an intelligent document retrieval solution that can easily adjust to any existing processes. It should not necessitate changes to the manner in which you manage invoices from your vendors, nor should it mandate that they be sent to you in a specific format.
If you are interested in automating processes such as invoice approvals, where the data within documents must be validated against the data in internal systems, you require an intelligent document retrieval solution that not only reconciles data but also proactively alerts staff when discrepancies are detected. This will enable issues to be resolved quickly.
Some intelligent document retrieval solutions also offer collaboration capabilities, which allow staff members to directly communicate with team members and vendors regarding discrepancies from the user interface. During your search for the best solution, make sure to take this into account.
The technologies employed in an intelligent document retrieval solution can significantly impact the accuracy of invoice data extraction. For example, solutions that extract data from each invoice, regardless of format, using a single optical character recognition (OCR) engine and a single artificial intelligence (AI) and machine learning (ML) solution tend to restrict the achievable accuracy level.
Multiple optical character recognition (OCR) engines, artificial intelligence (AI), and machine learning (ML) solutions, as well as other technologies, are frequently used in intelligent document retrieval platforms because they produce more precise results. The settings that are best suited for each form of document are, after all, used.
Before making any decisions, it is imperative that you have the answers to all of your critical issues when it comes to choosing the best intelligent document retrieval solution for your company.
Selecting an Intelligent Document Processing Solution
