The AI powerhouse for the finance industry
From improving your credit risk assessment to the KYC process, the Alphamoon IDP platform turns your documents into data that fuels your decisions.
Single process optimization for incremental growth
Each step of document automation directly impacts processes in your business.
Know Your Customer
Classification of documents combined with personal data extraction from IDs influences the turnaround time and efficiency of your KYC process.
The AP specialist starter pack – data extraction from invoices enriched by tabular data extraction and a robust system of user supervision.
Document data anonymization
Reduce the risk of data leakage. Personal information will be safe, while you focus on growing your business.
Learn about all of the capabilities of our platform.
AI OCR converts JPGs, PNGs, PDFs & other docs into text. Alphamoon also classifies documents based on your desired labeling system.
Decide on the fields you wish to extract, establish approval process with other users and save hours on automating monotonous work.
Alphamoon works like your personal document assistant. Accept or edit data, and supervise the entire automation workflow.
Data can be exported through JSON or CSV, and easily transferred to other systems through Zapier integration or API.
Supported document files.
Case Study KRUK S.A.
Alphamoon worked with KRUK S.A. – a leader in the Polish collections market – on optimizing the skip tracing process. With the introduction of document automation, KRUK S.A. processed large batches of documents much faster.
time savings thanks to automation
documents processed monthly
time to production from PoC
Thanks to process automation, employees do not waste time searching through hundreds of documents, which allows them to be engaged in more creative tasks. Our organization has reduced the time needed to obtain the information required in the processes. Both the cost and revenue side of KRUK S.A.’s operations were optimized.
Adrian Sutuła, Head of Skip Tracing at KRUK S.A.
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How to start with Intelligent Document Processing in finance?
See the steps you should take to start working with document automation in finance:
1. Identify document types: Determine what types of documents you are processing in your financial operations. These may include invoices, receipts, purchase orders, bank statements, tax forms, contracts, and more. Check which field types you need to extract from each document.
2. Choose an Intelligent Document Processing (IDP) tool: Research and select an IDP tool that uses modern technology such as optical character recognition (OCR), natural language processing (NLP), and machine learning. For instance, Alphamoon is equipped with this kind of technology, so you can extract data from documents with high accuracy and connect it to other tools you use.
3. Perform data extraction and validation: Configure the IDP platform to extract relevant data from the documents. This may involve creating your own document pipeline and extracting specific data fields. The tool should allow you to easily verify the extracted information to ensure everything is correct (modern IDPs support human-in-the-loop processing).
4. Integration with existing systems: Integrate the Intelligent Document Processing platform with your finance and accounting systems, such as enterprise resource planning (ERP) software or financial management systems. This enables seamless transfer of extracted data from the documents into your databases.
5. Train and improve: Continuously train and improve the Intelligent Document Processing tool by providing feedback and additional training data. This helps the system learn and adapt to variations in document formats, layouts, or language patterns, enhancing its performance over time.
What are the benefits of using IDP software for processing financial documents?
Implementing IDP in financial institution has many benefits, including:
- Time savings: IDP software automates manual data entry and extraction processes, significantly reducing the time required to process financial documents. This allows you to focus on more value-added tasks and improve overall productivity.
- Fewer errors: IDP software uses advanced technologies like OCR and machine learning to extract data from financial documents with a high degree of accuracy. This reduces the risk of human errors and improves the quality and reliability of the extracted data.
- Enhanced efficiency: By automating document processing tasks, IDP software streamlines workflows and eliminates bottlenecks in financial processes. This leads to improved operational efficiency, faster turnaround times, and reduced cycle times for tasks such as accounts payable, expense management, and financial reporting.
- Cost reduction: IDP software reduces the reliance on manual data entry and associated administrative tasks, leading to cost savings. By eliminating manual errors and improving process efficiency, businesses can save money on error correction, rework, and resource allocation.
- Compliance: IDP software supports compliance with regulatory requirements by accurately capturing and processing financial data. It provides an audit trail and maintains an organized repository of processed documents, facilitating easier retrieval and reference during audits or compliance checks.