Document ingestion and data extraction are mission-critical tasks that power many downstream business processes. However, despite its critical status, this effort is often plagued by bottlenecks, errors and other slowdowns. That can leave your business falling behind when it faces high volume levels. While others wait on important answers or critical data, ingestion systems might struggle. Even advanced, traditional optical character recognition can slow down in high-volume applications. iTranscribe changes that.

When feeding data into automated processes using Tungsten TotalAgility or Transformation, faster access to high-quality information makes the difference. With solutions in the Tungsten Marketplace available now, you can equip your automated workflows with a more advanced way to extract typed and handwritten text from digital documents. iTranscribe is a revolutionary solution based on a purpose-built AI engine.

What makes such a workflow automation solution so appealing? Let’s address common pain points in this space and illustrate how iTranscribe helps.

The Document-Based Challenges Facing Businesses Today

Transferring paper documents into a digital format for business systems seems like a problem to solve. On the contrary, many different approaches and workflows exist. For some small companies, the process remains entirely manual. However, physical character recognition is usually necessary to produce a full-text version of a scanned document. For companies approaching this task, many pitfalls are common to the process. These include:

• Unstructured forms that may change from page to page create confusing output from OCR processes.
• Handwriting and scans of challenging quality can confuse OCR and lead to intensive efforts involving manual correction.
• High volume levels can mean digitization projects take weeks or even months to turn around.
• Human error introduces inaccuracies in the data, which cause additional headaches later in the process.

Even advanced OCR might not be enough in a complex business environment. With iTranscribe, you can promptly access a suitable solution.

What is iTranscribe?

An AI-powered recognition engine, iTranscribe uses GPUs’ powerful computational capabilities to exceed traditional OCR’s capabilities. Extensively trained and refined, iTranscribe uses models capable of analyzing typed documents and handwritten pages. Even bad handwriting and scans from low-quality equipment are accessible using iTranscribe.

By feeding documents into iTranscribe, users receive output data that involves a complete transcription of the contents of the input document. The model has a trained understanding of differentiating between images and text on a page. iTranscribe supports multiple languages, including English, French, German, and Turkish. It can even analyze and capture data from paperwork in non-Latin scripts, including simplified Chinese and Arabic. With these tools, digitizing documents becomes much more manageable.

What Can iTranscribe Achieve in Practice?

Using iTranscribe with a TotalAgility or Transformation process opens the door to impressive benefits. Compared to traditional OCR, the results are particularly impressive. The developers of iTranscribe state that this solution can achieve the following results:

• Greater than 95% accuracy across handwriting analysis.
• Greater than 99% accuracy on machine-printed text.
• A 91% improvement in how much of the capture process you can successfully automate.
• More than an 80% reduction in capture, analysis and storage costs.

In one example, a project that would take up to 240 days without an AI-powered solution took only three days using iTranscribe. With the flexibility to meet multiple levels of need and disparate project types, it is possible to derive substantial value from iTranscribe quickly.

What Industries Can Benefit From This AI Tool?

Many users can benefit from access to this powerful solution as part of a broader automated workflow. From banking and finance to insurance, healthcare and the legal sector, there is no shortage of iTranscribe applications to save money and time. Consider a few examples:

• Streamline fraud detection in finance when ingesting large volumes of data with an AI tool that can note exceptions or deviations from expected formats.
• Rapidly and accurately extract customer data during account opening and onboarding, especially during a KYC or AML procedure.
• Accelerate claims processing by making it easier to automate the collection and extraction of forms completed by a policyholder.
• Support processing large troves of paperwork and other data during the discovery process in the legal sector.

These and other applications make iTranscribe one of the most versatile solutions in the Tungsten Marketplace.

Tap Into the Power of a Transcription AI Today

Put advanced artificial intelligence to work in your business today. With the ability to achieve a high-quality throughput exceeding tens of thousands of pages per hour, monumental tasks become far simpler with Tungsten Marketplace solutions. Equipping your Transformation or TotalAgility workflows with these capabilities allows you to tap into a reliable source of high-quality, error-free data to power additional work.

iTranscribe represents incredible potential and value, with applications across different industries. Why continue to rely on traditional OCR, which delivers substandard results in critical processes? Discover more about adding these capabilities to your business today.