Docsumo

FAQs

• Q. What is Docsumo and what does it do?
  Docsumo is a document AI platform that converts unstructured data from complex documents into structured formats like Excel. it leverages advanced OCR, specialized AI, and machine learning algorithms to extract data from unstructured documents with over 95% accuracy, reducing the burden of manual processing and categorization.
• Q. Who is Docsumo made for?
  Docsumo is designed for operations and technology teams in a variety of industries, including finance, real estate, software, healthcare, logistics, energy, and more. it's optimized for companies that need to process massive amounts of unstructured data quickly and accurately and transform it into actionable data.
• Q. How do I get started with Docsumo?
  Docsumo offers a 14-day free trial with 100 pages prepaid. you can upload documents without a credit card or integrate with the API to start extracting data automatically.
• Q. How does Docsumo work?
  Docsumo utilizes intelligent document processing software (IDP) to automatically ingest, pre-process, categorize, and extract data from documents. OCR technology and AI/ML models identify key values and tables, and convert and present them in an Excel-like format.
• Q. How is Docsumo different from other document processing tools?
  Docsumo offers 95%+ straight-through processing (STP) performance, 100+ trained AI models, support for 200+ global document formats, and continuous self-learning capabilities. it also supports out-of-the-box AI models and custom document training options, giving it more flexibility and accuracy than other tools.
• Q. What file formats does Docsumo support?
  Docsumo supports documents in a variety of formats, including PDF, JPG, PNG, TIFF, XLSX, and XLS. It can also process email attachments, providing a flexible data extraction experience.
• Q. How accurate is Docsumo's data extraction?
  Docsumo's data extraction accuracy is 95-99%, with many customers reporting STP performance of 95% or better in real-world work. we utilize AI and machine learning-based algorithms to deliver highly reliable results, even on large documents.
• Q. Does Docsumo provide pre-trained AI models?
  yes, Docsumo offers over 100 pre-trained AI models covering industry-specific document types such as invoices, bank statements, utility bills, ACORD forms, receipts, and more. this allows you to start using them right away without any complicated setup.
• Q. Does Docsumo support document categorization?
  yes, Docsumo automatically categorizes documents by type using AI models trained on millions of documents. you can also split large volumes of documents into individual files or trigger workflows based on specific business criteria.
• Q. Can Docsumo extract data from tables?
  yes, Docsumo offers smart extraction and data standardization features that can handle complex tables that span multiple pages, like bank statements. during the extraction process, the structure of rows and columns is preserved and can be converted to an Excel-like spreadsheet format.
• Q. Does Docsumo offer human-powered review?
  yes, Docsumo provides an intuitive interface for users to review and modify the extracted data. you can specify which documents to review as needed, and the combination of human verification and AI automated extraction ensures high accuracy.
• Q. What validation features does Docsumo offer?
  Docsumo provides signpost validation, automatic calculations (such as checking bank statement balances), built-in accuracy checks, and exception handling. this ensures data quality and performs validation automatically without the need to remember or apply Excel formulas manually.
• Q. How can Docsumo be used in the financial services industry, insurance companies, real estate, healthcare, and logistics companies?
  - Financial services industry: Automate loan workflows, eliminate data entry errors in financial documents, and speed up loan underwriting and closing with 95%+ accuracy
  - Insurance companies: Reduce claims review time by 90% by processing insurance claims, creating insurance interim reports, processing ACORD forms, and managing compliance documents
  - Real estate: Automating paperwork, including lease management, lease agreements, property inspection reports, and utility bill processing, saving thousands of hours each month
  - Healthcare organizations: Safely handle sensitive data in HIPAA compliance, including patient record management, medical billing, test result extraction, and Medicaid application management
  - Logistics companies: simplify logistics document management and improve operational efficiency, including invoice automation, waybill processing, customs documentation, shipment tracking, fleet management, etc
• Q. Does Docsumo support automating customer onboarding?
  yes, we automate the KYC process with 99% accuracy by extracting data from IDs, proof of address, income verification documents, business registration documents, and more.
• Q. Can Docsumo help with the mortgage and loan process?
  absolutely. expedite financial documents like loan applications, bank statements, tax returns, pay stubs, and more to automate underwriting and speed up loan approvals.