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SUCCESS STORY |
DOCUMENT CAPTURE IN THE AUTOMOTIVE FINANCE INDUSTRY |
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Client |
Leading Automotive Manufacturer, USA |
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Project |
Automation of document processing |
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Systems Integrator |
IBM Global Services |
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Products |
PROSAR-AIDA, PROKEY |
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Publications |
Document Capture in the Automotive Finance Industry (PDF)
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Company Background |
For a number of years the finance group of a leading automotive manufacturer had been using traditional OCR and document classification technology to process around 30,000 images per day with very modest results, and requiring inordinate amount of manual verification and correction. This group is responsible for processing Credit Applications and Lease Agreements for North America sales. In early 2004, they were tasked with improving the overall process by deploying a cost effective solution that would meet financial and operational ROI objectives.
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Challenge |
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Utilize existing Capture infrastructure from Kofax′s Ascent Capture
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Find a solution with a proven track record
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Dramatically reduce document handling and preparation time
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Improve classification recognition rates
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Automate data extraction of key elements
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Reduce the need for manual correction and verification
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Automate the capture of mixed document sets which include:
1. Structured Documents such as Lease Agreements and Credit Applications
2. Freeform Documents such as Drivers License, Insurance Declarations, and other supporting documentation
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Support "Standard" forms that vary in layout from state to state
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Automate data validation of key fields |
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Solution |
Replace the Ascent Capture Recognition module with PROSAR-AIDA from Paradatec. PROSAR-AIDA is a partner certified custom module for Ascent Capture and plugs in conveniently in the Ascent Capture queue. PROSAR-AIDA is used for both Document Classification and Extraction of key information such as hand printed social security numbers and machine printed automotive dealer identity and customer identity.
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Results |
- Seamless plug into Ascent Capture, leveraged prior investments
- Proven solution minimized risk factors and expedited customer′s live date
- Classification accuracy of PROSAR-AIDA is in excess of 99%
- Eliminated the entire QA process
- Automatic extraction of customer name from contracts, allowed the Systems Integrator to design custom code to write a spreadsheet which cross correlated batch numbers to customer names. This eliminated the need to laboriously log this information manually.
- Automatic verification of automotive dealer identity from lease contracts is now possible through the use of PROSAR-AIDA′s in-memory database search capabilities.
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Automotive Industry
