ancora Software Announces U.S. Patent Filing on Application of Machine Learning in Data Capture for Business Documents
âThe volume of information organizations receive is growing every day,â said Ancora Software CEO Noel Flynn. âThey can’t afford the time and resources to manually enter data for every document that has warped during scanning.
SAN DIEGO (PRWEB)
October 19, 2021
ancora Software, Inc., a global leader in intelligent process automation solutions including intelligent document classification and advanced data capture, today announced the filing of a U.S. patent application for the way its ancoraDocs software can correctly identify data fields that need to be captured from potentially distorted documents during the scanning process.
Growing volumes of documents and data are forcing businesses to find more efficient ways to capture critical data from the documents they receive. For example, processing and approving an invoice typically requires accounts payable staff to enter data such as the invoice number, the supplier’s name and address, and the amount and due date. the invoice’s. Legacy data capture systems work well on well designed and behaving documents with predefined layouts for each document type and the correct identification of keywords such as “Loan Number” and “Co-borrower” To determine the exact location of the data that needs to be captured. These data localization approaches often fail on poorly designed documents or when vertical or horizontal offsets, noise, pre-printed lines, creases or other distortions occur during the scanning process.
ancoraDocs uses patented technology to overcome the challenges caused by distorted images. The software uses a machine learning approach capable of capitalizing on already processed image information to capture unprocessed image data from documents such as invoices, purchase orders, purchase orders, bills of lading, payment documents and clams.
âThe volume of information organizations receive is growing every day,â said Ancora Software CEO Noel Flynn. âThey can’t afford the time and resources to manually enter data for every document that has warped during scanning. Using sample documents from the same source and with the same layout, the technology built into ancoraDocs automatically determines the precise location of the data, even when an image is distorted.
AncoraDocs’ patented unassisted and assisted machine learning algorithms eliminate the need for document capture templates or time-consuming and complicated setup. ancoraDocs can be deployed in hours or days, not the weeks or months required for traditional document capture solutions. ancoraDocs learns based on the user’s interaction with the software. This helps users start realizing the benefits of automation sooner and produces a faster payback time. ancoraDocs is also ideal for small businesses, which historically have not been able to take advantage of automated document capture due to high start-up costs.
About Ancora Software
ancora Software, Inc. is an innovative provider of intelligent process automation solutions, including intelligent document classification and data capture. Its flagship product, ancoraDocs, simplifies document capture. Ancora Software’s patented artificial intelligence and machine learning technologies help organizations eliminate costly manual steps from their business processes, such as document classification, document analysis, manual data entry, and manual classification. Organizations using ancora Software achieve faster, cheaper business process automation and better controls over their critical information. Based in San Diego, California, ancora Software maintains sales and support operations throughout North America and the UK.
For more information on ancora Software, Inc. visit http://www.ancorasoftware.com
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