Newest version of Ephesoft Transact features advanced handwriting recognition and an easy-to-use AI table rule builder
IRVINE, Calif. – July 20, 2021. Ephesoft, Inc., a leader in intelligent document processing automation and data enrichment solutions, today announced the release of Ephesoft Transact 2020.1.05. The latest version of Transact boasts advanced cloud native, AI-enabled handwriting recognition capabilities and an intuitive table rule builder, enabling organizations to turn handwriting (both print and cursive) and complex tables into structured data in record time, at high accuracy.
“In our quest for freeing up valuable resources for high-value tasks and maximizing enterprise productivity, Ephesoft continues to push the envelope of what’s possible in document processing automation,” said Ike Kavas, founder and CEO of Ephesoft. “Our latest Transact features fully automate two of the most complex challenges in document automation, eliminating manual data entry and errors. The extracted data will be readily available within seconds, redefining our customers’ speed of work.”
Advanced Handwriting Recognition
Many enterprises have to process large amounts of handwritten documents – from insurance claims to banking and college applications to customer complaints to government census documents. Entering this data manually means long processing times, human errors and ultimately a competitive disadvantage.
In addition, new privacy laws add complexity to the process requiring the ability to redact Personally Identifiable Information (PII) on documents, including handwritten forms. Government agencies strive to adhere to the National Archives and Records Administration (NARA) Memorandum M-19-21 mandate to digitize and electronically manage all records by 2022. This is no small feat when you consider that 68 federal agencies have as many as 23,000 forms actively in use.
Transact’s new handwriting recognition feature builds on the block printing / native Intelligent Character Recognition (ICR) and checkbox extraction tools launched last year, offering a highly reliable yet fast and easy way for users to extract handprint values from documents and automatically detect signature or checkbox filled areas. The technology reads both printed and cursive writing at an average accuracy of 88% out-of-the-box, even handwritings that are not easily legible by human review. Users can use a scanner, tablet, phone or other means to scan the document or form.
“The newest version of Transact has some really innovative and efficient capabilities, especially with the handwriting extraction,” said Kenny Fowler, Advanced Capture Specialist at NMS Imaging. “In the past, we were not able to accurately capture any handwritten data. We were limited to handprinted text that was constrained within boxes on fixed forms. Now, we can not only branch out to actually capture hand-written text, but we can also build rules based on keywords for semi-structured or unstructured documents and leave the fixed form templates in the past. The bottom line is that this will help our customers drive efficiency and cut costs by capturing data not previously possible with shorter implementation times.”
“With Ephesoft Transact’s new features, especially for recognizing handwriting and low quality documents, we will save our healthcare customers significant time and effort while also providing higher accuracy results,” said Steven Adisusanto, Product Manager at Medlinx. “In the healthcare industry, there are many handprinted forms and poor quality scanned documents, so this new version will expedite processes so staff can focus more time on helping people instead of paperwork and manual data entry.”
Easy-to-use AI Table Rule Builder
The latest Transact release also adds an AI table rule builder for invoice processing, making the extraction of line item details in complex tables easy to set up, even for non-technical resources. A new guided in-app configuration screen helps administrators identify line item information to extract. Transact then automatically creates the extraction rules and applies them to any subsequent documents submitted by the same vendor. Users enjoy high flexibility and customization options while taking advantage of intelligent automation.
Ephesoft Transact 2020.1.05 is competitively priced and is available to both new and existing Transact customers as an upgrade. Ephesoft is also offering a live webinar and demonstration showcasing these new features on August 18, 2021 at 9 a.m. PST on “The Future of Capture: Breakthrough Extraction Accuracy in Cursive Handwriting & Invoice Processing.” To register, please click here.
About Ephesoft
Ephesoft provides intelligent document processing solutions with industry-leading technology to help enterprises maximize their productivity. Using AI and patented machine learning technology, Ephesoft’s platform captures data from documents, enriches it with context and amplifies the power of that data, adding intelligence to accelerate any business process and drive successful digital transformation. Thousands of customers use Ephesoft to save costs, improve accuracy and fuel their journey towards the autonomous enterprise. Ephesoft is headquartered in Irvine, Calif., with regional offices throughout the US, EMEA and Asia Pacific. For more information, please visit ephesoft.com.
