Imagine a typical day at an office that handles a large volume of documents in different departments, such as the accounts payable or legal department. You work in this office, and receive a PDF file that you need to process, which seems fairly simple.
Unfortunately, you realize this one large PDF file has a variety of forms such as invoices, purchase orders, tax forms, and other types of documents. You sigh and proceed to manually check each page to ensure that everything is sent to the correct destination.
If that sounds familiar to you, you probably haven’t heard of a solution that can automatically split PDFs by document type. CVISION’s Trapeze is a document automation solution that enables users to automate page-by-page classification, which allows companies dealing with hundreds or thousands of PDFs to save valuable processing time. Trapeze recognizes the different document types within the PDF, splits those forms into separate PDF files, and moves the identified forms to the designated output locations.
Aside from automated document sorting, Trapeze can even eliminate the need for manual data entry by automatically extracting information from each type of form present within the PDF. This helps to cut down on unnecessary labor costs, improve data accuracy, and boost processing speed. Trapeze is also capable of exporting data in formats such as XML, EDI, CSV, and TXT, the most commonly supported output types to ensure compatibility with most systems.
Automated Document Classification in Action
At this point you’re probably thinking; “It sounds great, but does it really deliver results?”
One of our clients can answer that question – a Fortune 500 financial institution, they receive hefty mortgage loan application packets on a daily basis. Each packet contains hundreds of document types ranging from credit reports and income statements to birth certificates and tax forms. They needed an automation solution that could sort everything efficiently, so Trapeze was brought in to eliminate manual identification.
After utilizing Trapeze, the loan packet processing time was reduced from over 2 hours to under 5 minutes per packet (a 96% increase in efficiency). Data extraction accuracy and document classification rates were excellent, and the solution integrated seamlessly into the existing workflow.
Learn more about how you can get your company results like this here.