The business operations today handle a large number of documents such as invoices, receipts, bank statements, contracts, and more. These documents come from a variety of sources and formats, including PDF, scanned documents, and email formats; therefore, the data does not have a consistent layout or structure. This makes it difficult to extract, process, and analyze. Fintelite, with its AI-powered solution, solves this challenge by converting unstructured data into clean and structured data within seconds. Here is an FAQ breakdown to help you understand how Fintelite works and why it matters.
1. What is Unstructured Data?
Unstructured data is the information that does not have a fixed format, layout, or data model. This includes scanned documents with various templates, bank statements in PDF format, handwritten notes, medical claim forms, payslips, contracts, and more.
2. How Accurate is Fintelite’s Data Extraction?
With its powerful combination of OCR for text recognition, NLP (Natural Language Processing), and machine learning for understanding context, Fintelite can extract data from documents in any format, including PDF, image, or handwritten, faster and with over 90% accuracy.
3. How Does Fintelite Structure the Extracted Data?
Once the data has been extracted, Fintelite will clean the output, correcting inconsistencies and organizing it into structured fields and tables. The results are simply exportable into a variety of formats, including XLS, JSON, ERP, APIs, or accounting systems such as QuickBooks, Xero, and more.
4. Can Fintelite Handle Handwritten or Low-Quality Documents?
Yes. Fintelite AI is equipped with advanced recognition technology, allowing it to read and extract data even when documents are handwritten or scanned in low quality. If the document image is unclear, the system enhances its readability and learns and interprets it more accurately. This capability is useful in various industries such as healthcare, insurance, and government services, where handwritten forms are still used.
5. Can Fintelite Work With Documents That Contain Tables or Multiple Pages?
Fintelite is designed to handle complex documents, including those with long tables or multiple pages. It understands the document’s structure. For documents such as financial statements, medical claims, or multi-page invoices, Fintelite ensures that line item details are correct and align with the fields in documents. This avoids the common errors that usually occur when manually copying table data.
6. Is the Processed Data Easy to integrate into the Business’s Existing System?
Yes. Fintelite provides seamless integration. The processed data can be exported directly into XLS or into business systems through APIs. Businesses do not have to change their systems or workflows.
Conclusion
Fintelite AI has an advanced technology that turns unstructured data, which leads to inefficiency when managed manually, into faster and more accurate cleansed data that is ready to use for reporting, budgeting, auditing, and other applications. It reduces workload, removes human error, and speeds up operational efficiency. For teams who rely on documents to execute daily processes, Fintelite can be the best solution to overcome bottlenecks in a seamless and easier way.
