ABBYY Blog

Financial institutions have the data they need, but often it is stored across different systems of record. Merging these into a holistic view is the best way to protect the business—that's where intelligent process automation can make an impact.

Agility in document processing matters now more than ever to shippers as a vital link in the supply chain. Eighty percent of business processes are document-driven, which can be the weakest link in a supply chain. What if shippers could have ready-made solutions for these critical documents–solutions with deep understanding of both the operational processes the documents enable and an understanding of these documents as highly variable, constantly changing entities? We have a skill for that.

Documents exist in a quarter of business operation scenarios or more. If you pick any industry, you will easily find documents, sometime even paper ones, holding back digital transformation. Deutsche Post DHL Group embarked on their automation project by analyzing their Finance activities to determine which processes and tasks could be automated effectively with RPA.

Procure-to-Pay (P2P) has become the Holy Grail of Accounts Payable (AP) automation, whose ultimate value is in delivering the AP department from a cost center to a strategic source of cashflow and profits. Only by gaining visibility and control over the content of your Supply Chain operations (from ordering to shipping, receiving, and ultimately payment) can P2P be achievable.

With the release of ABBYY Vantage v2.1, we are introducing more than 50 new enhancements to support your journey forward in solving complex document processing challenges using best-in-class no-code intelligent document processing powered by ABBYY’s leading artificial intelligence (AI) technology.

Intelligent Document Processing can deliver significant benefits. By applying document skills in a way that closely supports the way humans understand and manage content, IDP saves time and money while also reducing the risk of costly errors.

Financial services institutions have long pursued automation opportunities to accelerate lending processing, expedite regulatory reporting, monitor and detect fraud, and a whole host of processes that can be fraught with fractured, content-intensive processes. This quest has only accelerated during the COVID-19 pandemic, and that haste has sometimes created costly blind spots, risks, and inefficiencies.

Supply chains run on documents at every point in their processes, from sourcing to shipping to customs clearances and payments, and the ability to handle documents directly impacts a company’s resilience, adaptability, competitive position, and profits. Yet the approaches to handling documents is antiquated, often relying on legacy optical character recognition (OCR) procedures enhanced with robotic process automation (RPA) workarounds. What if there was a better way?

Financial services is driven by enormous amounts of unstructured data, and the sources of that unstructured data continues to grow in variety and complexity. The ambiguities of these unstructured files make them more difficult to handle than data held in a database format.

There’s nothing more frustrating than not being able to find something—especially when you desperately need it to finish a job. But it turns out that millions of workers are actually wasting weeks on end just looking for information in documents, according to new research commissioned by ABBYY.