How AI Document Analysis Enhances Processes: 3 Case Studies

‍

Until this day, organizations spend a lot of hours manually processing documents. What it means is that employees have to read through every document—some of them even in different languages and formats—extract the information they need, and then enter it into the company's system. This manual process can be tedious, time-consuming, and, let's face it, boring. And more often than not, manually analyzing documents is also more likely to lead to errors, which can be costly for companies.

‍

That is where artificial intelligence comes into play. By implementing AI for document analysis, organizations can automate this labor-intensive process and reap many advantages while also improving the efficiency of their operations. Ok. AI can help a lot. But how? Well, keep reading to find out what, how, and why document analysis can enhance your processes.

‍

What Is AI Document Analysis?

‍

‍

Image source: rawpixel.com

‍

What is document analysis in the context of AI? AI document analysis is the use of artificial intelligence technologies, like large language models (LLMs) and natural language processing (NLP), to extract, classify, and analyze data from different kinds of documents like purchase orders, emails, invoices, contracts, sales orders, reports, etc. By utilizing AI for document analysis, organizations can analyze and process large volumes of documents (both digital and physical) in a fraction of the time it would take to do so manually and with a higher level of accuracy.

For example, the procurement teams handle a large number of POs, invoices, and contracts on a daily basis. If these documents were to be manually analyzed, it would take a huge amount of time and resources. Not to mention, the potential for human error is high, leading to delays and inefficiencies in the procurement process. With the help of AI document analysis tools, procurement teams can extract relevant information from these documents (e.g., item descriptions, delivery date, quantity), classify them based on their type (e.g., PO or invoice), and automatically input the data into the business's systems. The result? A more streamlined and efficient procurement process.

‍

How Does AI Document Analysis Work?

Now, we know what AI document analysis is, but the question is, how does it work? What are the steps involved in the process? Well, technically, the steps may vary depending on the specific AI tool or software being used, but the general process typically involves the following steps:

‍

‍

1. Input of the Document

The first step in AI document analysis is to input the document that needs to be analyzed into the system. This can include documents in various formats such as PDFs, Word files, emails, handwritten notes, images, etc. The AI tool uses NLP algorithms to read and understand the text in these documents, regardless of the language or format.

‍

2. Classify and Categorize the Document

Once the document is input into the system, the AI tool then analyzes its content to determine its type and assigns it to the appropriate category. For example, if the document is a purchase order, the AI tool will identify it as such and categorize it under the purchase order category. Similarly, invoices are identified and organized within the invoice category, and so on. 

While some AI tools come with pre-configured document types, others allow users to customize their own categories by creating rules for classification. Users can implement advanced rules to automate document classification, such as configuring the system to recognize and categorize files with "invoice" in the title as invoices, for instance. This helps streamline the process and ensure accurate categorization.

‍

3. Data Extraction

After classifying and categorizing the document, the AI tool then extracts relevant data from it. This can include information like product description, quantity, delivery date, unit price, etc. The AI tool employs LLMs and NLP techniques to understand and extract this data, even from unstructured documents like emails, scanned PDFs, or handwritten notes. Similar to the classification process, users can set rules to specify which data points need to be extracted from a particular document type.

‍

4. Conduct Reconciliation

This is where the human element comes in. Once the data is extracted and classified by the AI, you can set up a reconciliation task where a human reviews and verifies the data. This is crucial because, as advanced as AI may be, it is not perfect. There may be instances where the AI has misinterpreted or missed certain information, and a human can catch and correct these errors.

Advanced AI solutions also allow you to define when and where human intervention is needed, giving you full control over the process. This human-in-the-loop approach ensures that the final data is accurate and reliable, which is vital for making better business decisions and maintaining compliance.

‍

Benefits of Implementing AI for Document Analysis

AI-powered document analysis is a game-changer for businesses looking to streamline their document processing workflows from start to finish. Here are some of the main benefits that organizations can reap by implementing AI for document analysis:

‍

1. Saves Time

Analyzing documents manually is a time-consuming process that can take hours, if not days, to complete. Even after spending all that time and effort, there is still a risk of human error (e.g., typos, wrong or missing information). To rectify these mistakes, even more time needs to be spent.

Implementing AI for document analysis can drastically reduce the time required to analyze and process documents. AI-powered tools can quickly scan and extract relevant information from documents, saving businesses hours of manual work. The time saved can then be put towards more critical tasks that require human expertise, like decision-making and customer interaction.

‍

Source: PWC

2. Improves Efficiency and Productivity

Aside from speeding up document analysis, AI also improves efficiency and productivity within organizations. By automating repetitive document processing tasks, like data entry, validation, and extraction, employees can do more in less time. This not only increases productivity but also boosts employee morale and reduces burnout, resulting in a more engaged and motivated workforce.

‍

3. Enhances Compliance and Security

For any business, compliance and security are top priorities. However, with ever-changing laws and regulations, it can be challenging to keep up and ensure compliance. If a business fails to comply with regulations, it not only puts its reputation at risk but also faces hefty fines and legal actions.

AI document analysis can help organizations maintain compliance by accurately analyzing, evaluating, and completing regulatory documents. With advanced analytical capabilities, AI can quickly identify any gaps or inconsistencies in compliance, allowing businesses to address them promptly. Plus, AI tools offer robust security features, such as 256-bit end-to-end encryption and access controls, ensuring sensitive data is protected from unauthorized access and cyber threats.

‍

AI for Document Analysis: 3 Case Studies

Ok. Now we know what perks AI document analysis brings to the table. Let's take a look at some real-world examples of how turian's AI document analysis can be implemented for procurement, sales, and compliance.

‍

1. Sales

Unigloves is a leading manufacturer and distributor of disposable gloves, along with other protective safety and medical products. This UK-based company was struggling to manage the high volume of sales orders they received daily, resulting in delays and errors in their order processing. With the help of turian's AI document analysis, Unigloves was able to implement an automated sales order entry process.

turian’s AI assistant runs next to the inbox and integrates with the ERP/CRM systems. Our AI document processing technology extracts information from emails and attachments, like product details, commercial terms, and customer data, matches the extracted data against the systems, and generates quotes or new sales orders automatically. This has helped Unigloves reduce their order-to-cash time dramatically, respond faster to customer inquiries, and free their team from manual work.

It's just one example of how turian's AI document analysis can revolutionize the sales process and improve overall efficiency. turian is a customizable solution, meaning you can tailor it to your specific business needs by adding custom validations, such as checking stock availability or applying customer-specific discounts.

‍

2. Procurement

An efficient procurement process is crucial for organizations to manage costs, ensure timely delivery, and maintain quality standards. However, when done manually, it can result in errors, delays, and inefficiencies in the procurement process. But with turian's AI document analysis solution, businesses can streamline their procurement process, reduce the risk of errors, and achieve significant cost savings.

For example, imagine a mid-sized manufacturing business that needs to purchase raw materials from multiple suppliers. With turian's AI, the company can automate data extraction from emails and attachments, validate purchase orders, compare suppliers based on the best value, and handle RfQs with ease. turian also intelligently determines the next course of action, like updating the ERP system, requesting missing information, or user confirmation, resulting in faster and more accurate procurement. This not only saves time and resources but also ensures better supplier management and cost control.

‍

3. Compliance

Compliance is a very critical aspect for businesses, especially in highly regulated industries like manufacturing, wholesale and distribution, or supply chain and logistics. If a company fails to comply with laws, it can result in legal actions, financial losses, and damage to reputation. With turian's AI document analysis, companies can ensure compliance and avoid costly mistakes. turian is compliant with all relevant regulations, such as GDPR, so you can be assured that your data is in safe hands.

For example, in the manufacturing industry, companies need to comply with various regulations, such as REACH/RoHS standards for chemical substances and products. With turian intelligent document analysis, manufacturers can automate the analysis of documents, like test reports, certificates, and declarations of conformity, to ensure they meet the required standards. The AI assistant also sends alerts for any non-compliance and offers a real-time dashboard for tracking and managing compliance activities. turian can help businesses in various industries stay compliant with the ever-changing laws and regulations.

‍

How To Get Started with AI Document Analysis with turian

If you're looking for an intelligent and user-friendly AI solution for automating your document processing workflows, turian's AI document analysis is the perfect fit for your business. turian is a quick and easy-to-implement solution that can be up and running in a matter of days. Our AI solution doesn't require any lengthy training or tricky set-up processes and can seamlessly integrate with your existing systems, like ERP or CRM, for a smooth and efficient document processing experience.

‍

turian is powered by the latest AI technology, including large language models (LLMs) with custom business rules and advanced data querying techniques to ensure unparalleled accuracy and speed in document analysis. Our AI solution can understand complex documents, such as contracts, compliance reports, and sales orders, extract valuable information, and provide actionable insights at your fingertips so you can make informed decisions for your business.

‍

turian can handle multiple documents in different formats, like PDFs, Word files, Excel sheets, scanned documents, images, and even handwritten forms. Our AI solution is also fully compliant with industry regulations, such as CSDDD, CBAM, and REACH/RoHS, so you can stay ahead of changing laws and maintain a compliant supply chain. Plus, with 256-bit encryption, secure cloud storage, and access controls, turian ensures the utmost data security and privacy for your business.

‍

With turian user-friendly interface, you can monitor your entire document processing workflow from a single dashboard. Our AI solution also offers human-in-the-loop capabilities, so if there are any critical documents that require human review, you can easily assign them to your team for final approval. With turian, you can free up your team's time from tedious manual document processing tasks (like data extraction and entry) and let them focus on more critical business activities that drive growth and success.

‍

Still not convinced? Well, that's why we offer a free Proof of Concept (PoC). With this PoC, you can try turian for yourself and see how it can streamline your document processing workflows. Whether you're in sales, procurement, or compliance, turian's AI document analysis solution is the perfect tool to improve efficiency, accuracy, and compliance in your business processes.

‍

{{cta-block-blog}}

‍