Cognitive data capture
How key AP issues can be resolved by cognitive data capture 💫
Cognitive data capture uses deep neural networks to recognize patterns in a set of data and adapts to a changing input.
Contrary to manual data entry or traditional OCR, it does not require a sizable workforce and the set-up of endless rules or templates. Here is how cognitive data capture can address key AP issues:
✅ Large volumes of varying document layouts
👉 Cognitive data capture is able to identify the overall structure and recognize the components on its own. Different formats of the documents are read organically by this technology.
✅ Repetitive work and manual data comparison
👉 The learning capabilities allow advanced and automatic comparison of the data, for instance, against an internal registry of vendors or public registry of companies.
✅ Discrepancies caused by inefficient internal communication
👉 Cognitive data capture is usually a cloud-based solution. It provides access to automatic updates and allows better team collaboration.
Even though the technology is still young, it will only continue to develop and improve within a widening scope of business activities. 💪
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