During an interaction with an industry leader about his experience with IDP, said he had recently decided to automate his document extraction process because of the challenges faced with data inaccuracy and cost. He said their IDP platform currently provided 90 to 95% accuracy. He added that a manual team…

It is a human tendency to formulate assumptions while analyzing the difficulty of information extraction in documents. We automatically assume it is easier to extract information in the form of named entities from a set of similar documents. Nonetheless, similar-looking documents have a distinct set of problems. The named entities…

Welcome to the second post in the Ask Infrrd series — your platform to have an honest, candid conversation about everything related to document data extraction. In this series we answer frequently-asked questions for our IDP experts or that we receive at hello@infrrd.ai . Here, we answer another question about…

There is no doubt that COVID-19 changed the world dramatically during the past two years. It has also set the “Great Resignation” into motion. According to Pew Research, the “quit rate” in the U.S. reached a 20-year high in November 2021. With this vacuum for talent, many companies have started…

As you probably already know, Optical Character Recognition (OCR) is the electronic conversion of images of typed, handwritten, or printed text into machine-encoded text. The source can be a scanned document, a photo of a document, or a subtitle text imposed on an image. OCR converts such sources into machine-readable…

Recently, Infrrd launched Infrrd for Mortgage, an AI-led intelligent document processing (IDP) solution specifically designed for the mortgage industry. Our announcement generated a lot of interest from mortgage providers of all sizes and led to a number of interesting conversations. Through these conversations, we discovered quite a few repetitive questions…

If you are struggling to hire data entry roles to help extract data from documents, please take comfort in the fact that you are not alone. Businesses and institutions of all sizes, even the IRS, are challenged by an acute labor shortage:

Invoice processing is critical to the Accounts Payable (AP) department of any business operation. Still, many businesses are stuck with traditional, slow, and inefficient invoice management solutions. If you look at AP processing today, there are a lot of companies processing their invoices manually within their accounting team or with…