Extracting structured data from scanned PDFs or images can be a challenge. Existing tools often fail to recognize table formats. They misattribute data to incorrect columns. Teams must then correct the errors manually, which is costly and time-consuming.
As big data, cloud computing, and artificial intelligence (AI) emerge as top technologies, about 75% of companies plan to adopt them by 2027. Our table extraction tool embraces this shift. It uses AI to categorize data and output it in formats required by the customer's database.
Challenges in Data Extraction
Inputting data from PDF tables manually or fixing errors from old tools is a slow and error-prone process. Between 2016 and 2030, data input and processing tasks are expected to decline by 19% in the U.S. and 23% in Europe as automation takes over. As machines handle more basic tasks, it’s crucial for businesses to start automating manual data entry now.
Manual entry can also increase the risk of errors. Existing tools often extract raw, unorganized data that requires additional sorting and correction. Many solutions also lack the flexibility to adapt to specific needs. They have trouble recognizing industry-specific terms or categorizing data correctly. These inefficiencies slow down workflows and divert resources from more valuable tasks.
The AI-Powered Solution
With our solution you can join 51% of companies using automation to reduce operational costs drastically. For example, paper-based invoice processing costs about $2.7 trillion a year, according to Goldman Sachs. Automated systems like ours can cut expenses by at least 50%, and in some cases, as much as 80%, saving companies tens of thousands of dollars annually.
Our tool uses AI to extract and structure data from tables automatically. It categorizes the content to meet specific business needs. For example, if a retail company uses different formats for the same product (e.g., mascara, Mascara, mascara item), the tool can learn to categorize them consistently into the same category, reducing the need for manual adjustments. The tool outputs data in formats like JSON, ready to integrate into any system, reducing the need for manual intervention.
Industry Applications
Retail & E-commerce
Retailers handle large product inventories that frequently change. Automating product info extraction from vendor invoices or inventory lists streamlines updates to the inventory database and product listings. Our tool saves hours of effort by avoiding manual entry for thousands of SKUs.
Accounting & Finance
Financial documents such as invoices, balance sheets, and expense reports often contain tables. Our tool can extract and organize data from these scanned documents. It then automates data entry into financial software. This ensures that financial reporting is accurate and up-to-date.
Supply Chain & Logistics
Automating data extraction from reports and tables speeds up stock management. We assist logistics teams by integrating this data into their systems.
Manufacturing
Manufacturers rely on accurate data to manage resources, production schedules, and supplier reports. Extracting and organizing data from scanned tables helps businesses. They can optimize operations and reduce downtime from outdated info. The tables contain materials, production times, and equipment availability.
Healthcare
Automating the extraction of large volumes of data from medical records, patient billing information, and treatment plans into electronic health record (EHR) systems or billing software saves medical staff time. This way, they can focus more on patient care rather than administrative tasks.
Conclusion and Next Steps
Our AI-powered table extraction tool provides a solution for businesses with data-heavy workflows. By automating table extraction from scanned PDFs and other documents, companies can greatly speed up data processing and optimize their operations. According to the latest McKinsey Global Survey on AI in 2024, 65 percent of those surveyed say their organizations are regularly using Gen AI. We believe it’s high time you joined their ranks.
Interested in learning more? Contact us today to see how our solution can be customized for your specific needs and start saving time and resources.
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