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ABBYY Blog Posts

How much automation can finance processes achieve?

Despite noticeable efforts by enterprises to automate their work processes, tasks such as entering invoices and orders into financial systems are surprisingly often based on manual, error-strewn data-entry methods. However, organizations need quick and easy access to information, paired with a high degree of process automation to be able to innovate and keep pace with the competition. Automating finance processes brings an array of benefits to businesses. With data-capture driven…

Fidelity Financial automates faxed mortgage application processing through digital transformation

Fidelity Financial is helping connect families to their new homes faster and with less hassle by automating the processing of mortgage documents through fax.  Using ABBYY digital transformation solutions, 5,000 new faxed mortgage applications are processed within one hour of receipt every day. This has dramatically reduced errors and response times, while improving customer service levels. Easily Automating the Process of Faxed Mortgage Applications Despite advancements in digital transformation, the…

Banks improving customer experience with mobile apps

Many of the regular activities of bank customers – both retail and corporate – are still dependent on physical documents, physical branches and operating hours. While individuals are trying to squeeze bank visits into their schedules, often until it is too late to pay a bill or apply for a loan, small businesses are wasting days waiting for credit approvals that could help them grow or in some cases just…

Unravelling the mysteries of medical billing with artificial intelligence

Medical bills are difficult to decipher. In most cases, they contain “test codes” and “CPT codes” which makes spotting an error very difficult. Reviewing medical records is both expensive and time consuming because they are usually provided in an unstructured textual form such as a Word document or PDF. Up to 90 percent of hospital bills contain errors totaling some $750 billion annually, according to a recent study. A person…

Why artificial intelligence will finally unlock IoT

Can the surge in Internet of Things (IoT) enabled devices bring new challenges in data management for enterprises? The continuing growth in IoT devices has already created an onslaught of data requiring storage and retention. To keep up with IoT innovation, AI’s data analysis capabilities might be required. This will allow data to be analyzed immediately and accurately to maintain a continuous flow of information and feedback within the enterprise…