DocAcquire

DocAcquire is a document processing platform offered by the vendor that automates the capture, validation, and posting of data from complex documents. The platform aims to streamline business processes and reduce time, effort, and cost for organizations of various sizes. According to the vendor, DocAcquire is used by professionals and industries such as insurance companies, logistics companies, accounts payable departments, business process outsourcing firms, financial institutions, business analysts, operations managers, finance managers, accounts payable/receivable professionals, and logistics managers.

Key Features

Automated Data Extraction: DocAcquire employs machine learning algorithms to automate the extraction of data from complex documents, including contracts, insurance claims, and KYC forms. The platform streamlines processes and enhances operational efficiency.

Seamless Integration: DocAcquire seamlessly integrates with existing line of business systems, facilitating end-to-end processing. The platform can connect with various systems used in insurance, logistics, and accounts payable departments, ensuring a smooth workflow.

Plug and Play Configuration: Setting up and configuring DocAcquire is quick and straightforward. Users can create their accounts and start automating processes without extensive setup or configuration requirements. The platform offers a user-friendly interface, empowering users to configure their own document types and seamlessly integrate them into existing workflows.

Complex Document Processing: DocAcquire specializes in processing intricate documents, such as insurance contracts, claims, and KYC forms. The platform utilizes advanced machine learning models to accurately extract and validate information from these documents, reducing manual effort and minimizing errors.

Efficiency and Cost Reduction: DocAcquire substantially reduces manual effort, with reported reductions of up to 83%. Processing time is also significantly decreased, with reported reductions of up to 85%. The automation provided by DocAcquire is claimed to result in substantial cost savings, with reported reductions of up to 65%.

Acquire from Any Source: DocAcquire consolidates and processes documents from various sources, including post, paper, fax, email, and other electronic data streams. The platform automatically extracts key information from complex documents using machine learning and can capture data from a wide range of document formats and sources.

Recognize and Extract: DocAcquire employs advanced machine learning techniques to accurately classify, recognize, and extract key information from documents. The platform enhances data extraction accuracy for complex documents, handles exceptions, and verifies extracted data to ensure data quality.

Verify and Enrich: DocAcquire validates, enriches, and reviews data to ensure accuracy and eliminate errors. The platform improves data quality, reduces rework, identifies and handles exceptions, and helps eliminate fraud and human errors in the processing pipeline.

Connect and Integrate: DocAcquire seamlessly connects with line of business systems through connectors and open APIs. The platform enables faster action on captured data by integrating with existing systems, automating end-to-end document workflows by collecting, classifying, and delivering data where it matters.