Ephesoft, Inc. has released Ephesoft Transact version 2020.1.05. The latest version of Transact boasts AI-enabled handwriting recognition capabilities and an intuitive table rule builder, enabling organisations to turn handwriting (both print and cursive) and tables into structured data in record time, at high accuracy.
“In our quest to free up valuable resources for high-value tasks and maximise enterprise productivity, Ephesoft continues to push the envelope of what’s possible in document processing automation,” said Ike Kavas, founder and CEO of Ephesoft. “Our latest Transact features fully automate two of the most complex challenges in document automation: turning handwriting and printed tables into structured data. This will now be achievable in seconds, redefining our customers’ speed of work.”
Advanced handwriting recognition
Many organisations have to process large amounts of handwritten documents, from insurance claims and mortgage applications to customer complaints and government forms. Entering this data manually means long processing times, human errors and ultimately a competitive disadvantage. In its State of the intelligent information management industry 2021 report, the Association for Intelligent Information Management (AIIM) states that the organisations surveyed expect the volume of incoming information to grow by 4.5 times in the next two years. They also expect more than 57% of this information to be either completely unstructured (e.g. a contract or a conversation) or semi-structured (an invoice or a form). The report concludes that “Organisations are losing the battle against information chaos and need to rethink outdated manual approaches to information management”.
Transact’s new handwriting recognition feature builds on the block printing / native Intelligent Character Recognition (ICR) and checkbox extraction tools launched last year, offering a highly reliable yet fast and easy way for users to extract handprint values from documents and automatically detect signature or checkbox filled areas. The technology reads both printed and cursive writing at an average accuracy of 88% out-of-the-box, even handwritings that are not easily legible by human review. Users can use a scanner, tablet, phone or other means to scan the document or form.
“The newest version of Transact has some really innovative and efficient capabilities, especially with the handwriting extraction,” said Kenny Fowler, Advanced Capture Specialist at NMS Imaging. “In the past, we were not able to accurately capture any handwritten data. We were limited to handprinted text that was constrained within boxes on fixed forms. Now, we can not only branch out to actually capture hand-written text, but we can also build rules based on keywords for semi-structured or unstructured documents and leave the fixed form templates in the past. The bottom line is that this will help our customers drive efficiency and cut costs by capturing data not previously possible with shorter implementation times.”
“With Ephesoft Transact’s new features, especially for recognising handwriting and low quality documents, we will save our healthcare customers significant time and effort while also providing higher accuracy results,” said Steven Adisusanto, Product Manager at Medlinx. “In the healthcare industry, there are many handprinted forms and poor-quality scanned documents, so this new version will expedite processes so staff can focus more time on helping people instead of paperwork and manual data entry.”
Easy-to-use AI table rule builder
The latest Transact release also adds a table rule builder, making the extraction of line-item details in tables easy to set up, even for non-technical resources. A new guided in-app configuration screen helps administrators identify line-item information to extract. Transact then automatically creates the extraction rules and applies them to any subsequent documents submitted by the same vendor. Users enjoy high flexibility and customisation options while taking advantage of intelligent automation.