AI-based data extraction: 99% data accuracy and increased cost savings

Client

The client is an Indian multinational conglomerate, with interests in industrial technology, heavy industry, engineering, construction, manufacturing, power, information technology, military, and financial services.

Challenges

The client faced significant challenges in extracting and validating essential business information from scanned documents due to several key factors:

Diverse Document Layouts: Documents had varied and dynamic layouts, making it difficult to consistently extract the required data.
Noisy PDF Data: The scanned documents were often of low quality, with significant noise, affecting the accuracy of Optical Character Recognition (OCR) processes.
Precision in Information Extraction: There was a need for high precision in extracting specific information to ensure consistency and accuracy in business operations.
Optimizing Business Efficiency: Business efficiency had to be optimized by extracting essential information from scanned documents

LTIMindtree Solution

To address these challenges, we implemented a comprehensive AI document extraction solution involving advanced image processing techniques. We used technologies like multimodality AI and Deep Learning models, apart from Vision AI, to achieve the intended results.

Custom Fine-tuned Model: A machine learning model was custom fine-tuned to accurately extract the targeted information from scanned documents. This model was tailored to handle specific layout and content variations.
Multimodality Techniques: We employed multimodal techniques, combining image processing and machine learning, to understand and adapt to the varied document layouts.
Image Processing for Noise Reduction: Advanced image processing methods were applied to remove noise from the scanned PDFs, improving the quality and accuracy of the OCR process.
Backend Services and API Integration: Backend services were developed to handle the model’s integration, enabling seamless extraction and validation of data through API services.
OCR for Accurate Data Extraction: OCR technology was employed, with enhancements, to improve the accuracy of information extraction, even from noisy data.

Business Benefits

Operational efficiency

We helped streamline workflows through data extraction automation. This resulted in up to 30% reduction in manual data entry tasks, increasing productivity across teams.

Cost savings

We enabled lower operational costs by reducing labor hours and errors. This led to an estimated 20% savings in labor costs due to fewer human errors and less manual processing.

Data accuracy

Through automation, we improved data accuracy by up to 95-99%, reducing rework, compliance errors, and penalties.

Turnaround times

We achieved up to 50-70% reduction in the processing time, leading to faster customer service and decision-making.

Scalability

We were able to scale document processing by up to 10x, because of which, the client was able to handle higher document volumes without increasing headcount.

Employee Satisfaction

By automating repetitive tasks, the solution allowed the staff to focus on high-value activities, leading to a 25% boost in employee satisfaction.

Compliance

iNXT’s solution reduced compliance risks by ensuring accurate and consistent data, providing full audit trails and real-time updates, to meet industry regulations.

Business Efficiency Solutions Through Automated Document Data Extraction

At iNXT, we help businesses unlock new levels of efficiency, accuracy, and cost savings by transforming manual processes into streamlined, automated workflows. Our Scanned Document Data Extraction solution leverages the latest technologies to deliver measurable results that boost operational performance.

With iNXT, businesses gain the ability to turn vast amounts of scanned data into actionable insights with unparalleled speed, accuracy, and reliability. Let us help you achieve cost-effective and high-performance document management, unlocking new avenues for growth and efficiency.

How iNXT Transforms Business Efficiency Solutions

Achieve more with iNXT. Transform your data extraction processes today to stay ahead in today’s fast-paced digital landscape.

Contact us