Data Processing Framework Leveraging Image Processing and Neural Networks
Error-prone, manual data entry tasks exist in all organizations. MorganFranklin’s data science team worked with a company that was manually processing up to 1,500 documents a day, which was costing critical time and resources. Business leaders in the organization saw an opportunity to modernize the existing process by aiming to reduce manual processing time and allocating the use of resources more efficiently.
MorganFranklin’s data scientists delivered an automated, adaptable, custom-built solution for the client. A multi-billion dollar financial institution saw per-document processing time cut by 80%. Built-in reporting metrics assessing data extraction accuracy and the extracted data was fed into existing databases which allowed the data to interact with downstream systems. The organization was able to automatically process 82% of all forms received, resulting in decreased manual effort and faster customer service. The solutions are integrated into existing business systems and process flows, allowing custom UIs for reviewing and the ability to automatically process documents from email and fax inboxes.