Docsumo provides a Document AI platform utilizing Intelligent OCR technology to extract and validate data from unstructured documents such as invoices and contracts. This solution significantly reduces manual processing time and errors, achieving over 95% straight-through processing rates for businesses across various industries.
Funding
$3.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
ARCOFWFounders
Product
Problem
Many businesses still rely on manual data entry from unstructured documents like invoices, bank statements, and contracts, which is time-consuming, error-prone, and costly. Extracting relevant information from these documents is challenging due to variations in format and layout. This manual process hinders efficiency and delays critical business operations.
Solution
Docsumo offers a Document AI platform that automates data extraction and validation from unstructured documents using Intelligent OCR technology. The platform ingests, classifies, and pre-processes documents from various sources, including email, API, cloud storage, and local machines. Its AI-powered engine accurately captures key values and tables, achieving over 95% straight-through processing rates. Users can create custom rules to validate extracted data within and across documents, ensuring data accuracy and consistency. The extracted data can be seamlessly integrated with downstream systems via APIs, enabling automated decision-making and improved business processes.
Target Audience
Docsumo primarily targets businesses in industries such as finance, insurance, real estate, and lending that process large volumes of unstructured documents and seek to automate data extraction and validation.
Features
- Intelligent OCR engine for accurate data extraction from unstructured documents
- Pre-trained models for finance, insurance, real estate, and lending documents
- Customizable rules for data validation and error reduction
- API integrations for seamless data transfer to downstream systems
- Support for various document formats, including PDF, PNG, JPG, Excel, TIFF, TXT, and Emails
- Role-based access control and multi-region data architecture for enhanced security
- Granular analytics and audit logs for process improvement
- SOC2, GDPR, and HIPAA compliance