The rush to adapt to the Next Normal was one of the biggest challenges that confronted the business world as early as the initial outbreak of the COVID-19 global pandemic. The Black Swan ushered in a new age of innovation as it forced companies to pivot on how to get their work done.
Skriba, the smart Optical Character Recognition (OCR) Platform developed by Pointwest, is one of the technologies that companies use to continue operations in the Next Normal. The process of filling out, assessing, scanning, and encoding documents was each a tedious step that required complete manual work, usually within the confines of an office. With the quarantine measures covering entire cities and regions, a lot of manual processing of documents screeched to a halt.
With the platform trained to automatically recognize and extract data from government IDs, utility bills, and invoices, as well as the ability to handle virtually any type of document, Skriba provides a strong value to companies as it can be set up to abide by work-from-home operations. Moreover, Skriba automates the encoding part of the document processing cycle by over 60%, as Pointwest uses state-of-the-art artificial intelligence (AI) technologies and the power of the cloud to recognize documents, enhance their quality, extract the text contents, and structure the information extracted in preparation for downstream processes.
To continue basic services, government agencies and essential businesses need to proceed with requiring a minimum number of documents. While normal OCRs can help accelerate the documentation process, it is still prone to errors. Skriba’s AI-powered enhancements on top of commercial OCRs and data structuring layers, not only is 70-95% accuracy easily achievable compared to 40-60% from top commercial OCRs, the low cost per page and the option to pay based on the productivity of the platform creates optimized cost, provides scalability thereby maximizing ROI.
Prior to 2020, submitting documents to provide one’s identity was primarily a face-to-face activity. Resilient business operations today require a different approach, no longer requiring traditional office set-up. As a security measure, Skriba’s platform was designed and developed to comply with various security regulations and guidelines across different industries. The platform does not store uploaded data permanently and boasts of strong encryption and secured access.
Skriba has gained traction with organizations from the financial sector, particularly banks and insurance companies, that have now recognized the need to be one step ahead in digitizing their archaic and time-consuming document-based data entry process workflows. Pointwest is being requested by several organizations to implement Skriba as part of their daily operations in various horizontals, such as customer onboarding and claims processing.
Making Skriba part of an organization’s Next Normal would benefit organizations with an efficient and cost-effective solution, the workforce able to streamline their work and can be part of the workflow from their own remote locations, and help customers fulfill their requirements from the comfort of their homes.
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