Templateless Approach To Intelligent Document Processing
One of the common challenges with most Intelligent Document Processing (IDP) solutions is their reliance on a template-led approach, which typically involves creating and maintaining individual templates for different document types and variations. While templates are effective for processing structured and standardized documents, they can fall short when dealing with documents that have extensive unstructured […]
Is Your Finance and Accounting Function Missing Out on the Power of Unstructured Data?
Documents are integral to key business processes, and enterprises have traditionally relied on knowledge workers to manually process documents or use fragmented automation tools/scripts. Research indicates that approximately 80% to 90% of the data generated and collected by companies is unstructured, lacking clear organization or formatting. This unstructured data, often referred to as “dark data,” […]
Invoice Automation Partner To Accelerate Invoice Processing
Effective invoice processing is crucial for modern businesses to ensure financial management. It involves various intricate and time-consuming tasks that demand additional workforce and technology. These tasks comprise capturing invoice data, validating the information, and recording the specifics in financial systems. The invoice processing procedure can become more complex, especially when dealing with high volumes […]
Streamlining Finance and Accounting for CFOs – Championing Future Opportunities
Introduction As a CFO, you are at the forefront of driving financial success and shaping your organization’s future. However, your responsibilities in handling various functionalities and overseeing daily operations often consume more time than you can spare from focusing on the holistic growth of your organization. Additionally, outdated workflows with manual validation or approval processes […]
Mortgage Automation: Shaping the Future of The Mortgage Industry
The lending industry recognizes the importance of digital transformation and has made significant progress, especially during the pandemic. In its second-quarter earnings, Rocket executives said that going into 2023 they’re “putting a big chunk of capital [into] internal investment in technology” to save money in the long term. However, the mortgage industry remains highly paper-intensive, […]
Accounts Payable Process Automation – Single Platform To Manage AP
Accounts Payable (AP), a vital process in the Finance and Accounts domain, has come a long way in the last few years in adopting automation. Although many still perceive it as simply the process of reviewing bills, it involves much more than that, and managing it can become challenging over time. According to Modern Treasury’s […]
Streamlining MSR Transfer: DocVu.AI, the One-stop Solution
Aashish Gupta
The sale and transfer of Mortgage Servicing Rights (MSR) have always been vital to the mortgage value chain. The high frequency of repurchasing mortgages or servicing rights maintains the market liquidity and generates stakeholder revenues. Yet the manual handling of MSR processes, even during handoff, can affect borrower interest. Further, strict scrutiny of regulations and […]
From Snail Mail to Supersonic
With thinner margins, companies seek to provide differentiated customer offerings while ensuring their operations are at their peak efficiencies. As per Gartner, by 2030, 80% of heritage financial services firms will go out of business, become commoditized or exist only formally but not compete effectively. These firms would struggle for relevance as global digital platforms, […]
Why mortgage servicing companies must Invest in regulatory compliance to mitigate risk.
According to a recent report from the CFPB, Mortgage Servicers are struggling with their loss mitigation programs, call center response times, and unreliable systems that are not producing consistent data. Another report also reveals that in the past few years, mortgage servicers have lost billions of dollars due to non-compliance and inadequate regulatory controls. It […]
Using AP automation to educe accounts payable discrepancies and boost satisfaction
Accounts payable is a crucial aspect of maintaining positive cash flow and strong vendor relationships in most companies, especially larger ones. It’s easy to underestimate the importance of maintaining good relationships with vendors until you need their support for rush orders or special pricing. Unfortunately, AP teams often face various challenges in their daily work. […]
