How is Textractor helpful in document parsing?

In today's fast-paced business environment, the ability to quickly and accurately process documents is essential for improving efficiency and reducing operational costs. Yet, many companies still rely on manual methods for document management, leading to significant time wastage, errors, and financial strain. Office workers spend 40-60% of their time manually filing documents. This accounts for 20-45% of salary costs and 12-15% of company revenue. The current management process involves manual and time-consuming extraction of information from legal documents. It is unreliable and highly prone to manual errors.

Automation is a technique that allows users to reduce human effort or intervention and implement a machine-learning solution quickly.

Our product, Textractor, uses an AI-based algorithm to auto-detect multiple objects/patterns from documents and extract text intelligently. Object Extractor automatically extracts, detects, and classifies the information below from legal documents. It uses intelligent and AI-based algorithms and techniques to deliver faster and more efficient data extractions from documents. This blog will explore how Textractor simplifies document parsing and enhances productivity.

Fundamental Pillars of Textractor

Pattern Extraction

The PDF contains many irrelevant patterns and text; the extractor identifies the relevant patterns and portions of text that need to be processed.

Object Detection

Textractor is trained on custom deep learning and ensemble models using large datasets. It performs object detection on the identified patterns to segregate and classify key features from images. For example, in a legal use case, it detects and classifies information from the cause list of high courts into the judge's name, the parties involved, the case number, etc.

No manual efforts

The process involves 0% human intervention. It is an end-to-end automated process, which ensures 90 % more accuracy and prevents manual error. The automated solution guarantees robustness and efficiency.

Intelligent text extraction

After the image classification, the extractor is also responsible for extracting text. It uses customized algorithms to extract texts from the images.

Speed

Textractor can deliver an 80 % reduction in the total time consumption.

Structured Information

Processing the information can be quite a task when it is written in paragraphs or an unstructured manner. For obvious reasons, information that is well organized and sorted is easier to understand and can be easily processed. Textractor stored all the processed text in the document in a well-structured manner in the form of rows and columns in an end product file.

Conclusion

Textractor offers a transformative solution for businesses seeking to streamline their document management processes. With features like pattern extraction, object detection, and intelligent text extraction, it minimizes the need for human intervention and ensures speed and accuracy. By organizing information into structured formats, Textractor helps businesses save valuable time and resources while reducing the risk of errors. As companies increasingly adopt automation, Textractor stands out as a powerful tool to enhance document parsing and contribute to overall operational efficiency.