Streamline Financial Services with
SoftWorks AI solutions reduce manual effort in forms processing.
collection and entry
Shrinking turnaround times, rising customer expectations, and wildly shifting loan volumes make it difficult for mortgage companies to remain competitive. Now you can automate many aspects of your mortgage workflow – allowing you to dynamically scale processing capacity and ensure you’re maximizing your bottom line.
Processing information from tax documents and invoices is a time-consuming, costly, and error-prone exercise. At SoftWorks, we believe there’s a better way. Leveraging our deep expertise in computer vision, AI, and machine learning, we can help you automate manual document processing to shorten cycle-times and improve your bottom line.
Compiling, comparing, and manually entering data from clients’ K-1 forms consumes valuable time and often results in errors and oversights. The varied structures of federal K-1 supplemental pages and individual state K-1 forms can make it difficult to extract the right data.
Trapeze for K-1 Processing accelerates K-1 workflows by reducing manual data entry, allowing employees to focus on higher-value tasks. The solution auto-validates face page information against supplemental pages to enable the highest accuracy rates, with minimal manual intervention (see figure).
Trapeze for K-1 Processing quickly and reliably extracts detailed, line-item data from both federal and state K-1 forms. The solution automatically validates state source table data from a federal K-1 against information on corresponding state K-1 forms (see figure).
Trapeze for K-1 Processing
Trapeze for K-1 Processing automatically recognizes and validates data without workers’ manual intervention. The solution benefits your organization by:
- Reducing the time spent by highly paid analysts on manual data entry
- Maximizing accuracy through auto-validation of data
- Decreasing processing time of each K-1 from as much as three hours to as little as 15 minutes
Manual invoice processing is costly and time-consuming. You need automation that helps process paper-based invoices quickly and accurately – increasing the speed of data extraction and reducing accounts payable (AP) costs. Trapeze for Invoice Processing simplifies the process of extracting relevant information from invoices. An intelligent recognition server automatically interprets the relevant information and fields within an image-based invoice in real time (see figure).
Powerful yet simple
Trapeze for Invoice Processing handles invoices and AP documents, regardless of their source, format, or location. You can streamline invoice matching and validation, reducing manual data entry and errors by more than 80%.
Our multi-engine OCR technology enables the industry’s most accurate data extraction. And it’s easy to use, featuring more than 50,000 vendor invoices that help you reduce manual corrections from day one. Advanced auto-splitting technology reduces prep time by accurately splitting invoices and other accounts payable documents.
Trapeze for Invoice Processing automatically detects invoices with missing or incorrect data in critical fields, flagging and sending them to an exception-handling bucket.
Processes previously handled by multiple employees can be completed in a fraction of the time – helping you quickly realize savings through a reduction in manual processing costs, early payment discounts, and improved vendor relationships.
Easy integration into
the accounting process
You can easily integrate Trapeze for Invoice Processing into your existing workflow. The solution integrates data extracted from invoices, outputting it into industry-standard formats such as XML and CSV.
Exceptional value from
automating invoice processing
Industry studies estimate the cost of manually handling an invoice at $30 to $50. Based on our customer experiences, automation can reduce the cost per invoice by more than 30%, creating significant value.
Consider this example: An organization processes 15,000 invoices per year at an average cost of $30 per invoice. Trapeze can reduce the cost of processing each invoice by $5. Over the course of a year, the organization could conservatively save $75,000.
“Trapeze has made DCT Industrial Supply more efficient. We previously had an accounts payable clerk manually enter each invoice through our system. Today, we get a large majority of our invoices processed without any manual intervention. As a result, our clerk has been able to help us with other needs. DCT gets a minimum of 80% of our invoices through without any manual intervention.”Jodi DoyleCFO, DCT Industrial Supply Co
Trapeze for Invoice Processing
Trapeze for Invoice Processing benefits your organization with:
- Reduced manual entry costs, by slashing the time and effort needed to process invoices
- Improved invoice processing accuracy, by eliminating human error
- Accelerated invoice turnaround, enabling early payment discounts and faster invoice payment, improving vendor relationships