What is Document Processing?
Document processing refers to the automated extraction of data and information from different types of documents, including invoices, receipts, contracts, and more. This process involves the use of advanced technologies, such as optical character recognition (OCR), computer vision, and natural language processing, to identify and extract relevant data points from unstructured document formats. By converting unstructured document data into a structured format, document processing enables businesses to unlock the value of their information assets, improve operational efficiency, and make more informed decisions.
The benefits of document processing are far-reaching, as it can significantly enhance productivity, accuracy, and data accessibility across a wide range of industries and applications. disFrom automating accounts payable and receivable processes to streamlining HR onboarding and regulatory compliance, document processing APIs offer a powerful solution for organizations looking to optimize their document-driven workflows and gain a competitive edge in their respective markets.
Examples of Document Processing Tasks
Document Q&A
- Enables users to ask natural language questions about the content of a document
- Provides accurate and relevant answers by understanding the context and semantics of the document
Document Redaction
- Identifies and removes sensitive or confidential information from documents
- Ensures compliance with data privacy regulations and protects sensitive data
Financial Document Parsing
- Automates the extraction of data from financial documents like invoices and receipts
- Captures key fields such as description, quantity, due date, line items, and total amount
Resume Parsing
- Converts resumes into structured data
- Streamlines the recruitment process by matching candidate qualifications to job requirements
Invoice and Receipt Parsing
- Extracts key data from invoices and receipts, such as vendor information, line items, totals, and payment details
- Streamlines accounting and expense management processes by automating data entry
Table Extraction
- Detects and extracts tabular data from documents
- Preserves the original structure and format of the tables
ID/Passport Parsing
- Automatically extracts personal information like name, date of birth, and nationality from identification documents
Document Processing Use Cases
- Accounts Payable and Receivable Automation: Document processing can extract data from invoices, receipts, and other financial documents, such as vendor information, payment terms, and line-item details. This automation streamlines the accounts payable and receivable processes, reducing the time and effort required to process and reconcile these documents.
- Contract and Agreement Management: Document processing can extract key information from contracts, agreements, and other legal documents, such as contract terms, expiration dates, and obligations. This facilitates more efficient contract review, negotiation, and compliance monitoring, ensuring that organizations stay on top of their contractual commitments.
- HR Onboarding and Employee Document Processing: Document processing can automate the extraction of data from employee documents, such as resumes, job applications, and onboarding forms. This streamlines the HR onboarding process, allowing organizations to quickly and accurately capture critical employee information and integrate it into their HR systems.
- Mortgage and Loan Application Processing: Document processing can extract data from loan applications, property documents, and supporting materials, such as income statements, tax returns, and asset information. This expedites the underwriting and approval process, enabling lenders to make faster and more informed decisions.
- Insurance Claims Processing: Document processing can automate the extraction of data from insurance claims, receipts, and supporting documents, such as medical records and repair estimates. This streamlines the claims processing workflow, reducing the time and effort required to review and approve claims.
- Regulatory Compliance and Reporting: Document processing can extract data from various documents, such as financial reports, regulatory filings, and compliance documents, to ensure that organizations meet industry regulations and generate accurate reports for internal and external stakeholders.
- Content Management and Archiving: Document processing can convert physical documents into digital formats and extract metadata, such as document type, date, and author. This improves document management and archiving, making it easier to store, retrieve, and maintain a comprehensive record of an organization’s information assets.
- Research and Academic Document Processing: Document processing can extract data and insights from research papers, academic journals, and other scholarly documents, enabling researchers, analysts, and educators to more effectively discover, synthesize, and disseminate knowledge.
Best Document Processing APIs on the market
While comparing Document Processing APIs, it is crucial to consider different aspects, among others, cost security and privacy. Document Processing experts at Eden AI tested, compared, and used many Document Processing APIs of the market. Here are some actors that perform well (in alphabetical order):
1. Affinda
2. AWS
3. Base64.ai
4. Dataleon
5. Extracta.ai
6. Google Cloud
7. HireAbility
8. Klippa
9. Microsoft Azure
10. Mindee
11. Private AI
12. Ready Redact
13. SenseLoaf
14. Tabscanner
15. Veryfi
1. Affinda — Available at Eden AI
Affinda’s document processing API offers highly accurate extraction of data from a wide range of document types, including invoices, receipts, resumes, and more. It uses advanced machine learning models to identify and extract key information, such as names, addresses, dates, and tables. Affinda’s API is known for its flexibility and ease of integration.
2. AWS Textract — Available at Eden AI
Amazon Textract is a machine learning-based service that can automatically extract text, handwriting, and data from scanned documents and images. It goes beyond traditional optical character recognition (OCR) by using advanced computer vision to understand the structure and context of the information. Textract is highly scalable and can be integrated into a variety of applications.
3. Base64.ai — Available at Eden AI
Base64.ai is an AI-powered document processing solution that can quickly and accurately extract data from a variety of document types, including ID cards, licenses, and more. It uses machine learning models to determine the document type and extract the relevant information, with an accuracy rate of up to 99%. Base64.ai’s API is designed to be easy to integrate and offers fast response times.
4. Dataleon — Available at Eden AI
Dataleon’s document processing API specializes in extracting data from complex, multi-page documents, such as contracts and agreements. It uses a combination of machine learning and rule-based algorithms to identify and extract key information, including tables, signatures, and metadata. Dataleon’s API is highly customizable and can be tailored to specific document types and use cases.
5. Extracta.ai — Available at Eden AI
Extracta.ai is a document processing API that focuses on extracting data from invoices, receipts, and other financial documents. It uses advanced computer vision and natural language processing techniques to identify and extract relevant information, such as line items, totals, and supplier details. Extracta.ai’s API is designed to be fast, accurate, and easy to integrate.
6. Google Cloud — Available at Eden AI
Google Cloud’s Document AI is a suite of document processing services that can automatically extract data from a variety of document types, including invoices, contracts, and forms. It uses machine learning models to understand the structure and content of documents, and can be customized to specific use cases and document types. Google Cloud Document AI is known for its scalability and integration with other Google Cloud services.
7. HireAbility — Available at Eden AI
HireAbility’s document processing API specializes in extracting data from resumes and CVs. It uses advanced natural language processing and machine learning algorithms to identify and extract key information, such as work experience, education, and skills. HireAbility’s API is designed to be fast, accurate, and easy to integrate into applicant tracking systems and other HR-related applications.
8. Klippa — Available at Eden AI
Klippa’s document processing API offers a wide range of capabilities, including invoice processing, receipt processing, and ID document extraction. It uses a combination of machine learning and rule-based algorithms to identify and extract relevant information, and can be customized to specific document types and use cases. Klippa’s API is known for its flexibility and scalability.
9. Microsoft Azure — Available at Eden AI
Microsoft Azure’s Form Recognizer is a document processing service that can automatically extract data from forms, invoices, and other structured documents. It uses machine learning models to understand the layout and content of documents, and can be customized to specific document types and use cases. Azure Form Recognizer is designed to be highly accurate and scalable, and can be integrated into a variety of applications.
10. Mindee — Available at Eden AI
Mindee’s document processing API is known for its ability to extract data from a wide range of document types, including invoices, receipts, and ID documents. It uses advanced machine learning models to identify and extract relevant information, and can be customized to specific use cases and document types. Mindee’s API is designed to be fast, accurate, and easy to integrate.
11. Private AI — Available at Eden AI
Private AI’s document processing API offers a unique approach to data extraction, with a focus on privacy and security. It uses advanced cryptographic techniques to protect sensitive information, while still providing accurate and reliable data extraction. Private AI’s API is designed for use cases that require high levels of data privacy, such as in the healthcare and financial sectors.
12. Ready Redact — Available at Eden AI
Ready Redact’s document processing API specializes in redacting sensitive information from documents, such as personal identifiers, financial data, and confidential information. It uses advanced computer vision and natural language processing techniques to identify and redact the relevant information, while preserving the overall structure and content of the document. Ready Redact’s API is designed for use cases that require high levels of data privacy and security.
13. SenseLoaf — Available at Eden AI
SenseLoaf’s document processing API offers a range of capabilities, including invoice processing, receipt processing, and ID document extraction. It uses a combination of machine learning and rule-based algorithms to identify and extract relevant information, and can be customized to specific document types and use cases. SenseLoaf’s API is known for its flexibility and ease of integration.
14. Tabscanner — Available at Eden AI
Tabscanner’s document processing API is designed to extract data from tables and other structured content within documents. It uses advanced computer vision and natural language processing techniques to identify and extract the relevant information, and can be customized to specific document types and use cases. Tabscanner’s API is known for its accuracy and speed.
15. Veryfi — Available at Eden AI
Veryfi’s document processing API offers a range of capabilities, including invoice processing, receipt processing, and expense reporting. It uses machine learning models to identify and extract relevant information, and can be customized to specific document types and use cases. Veryfi’s API is designed to be fast, accurate, and easy to integrate.
Why choose Eden AI to manage your Document Processing APIs
Companies and developers from a wide range of industries (Social Media, Retail, Health, Finances, Law, etc.) use Eden AI’s unique API to easily integrate Document Processing tasks in their cloud-based applications, without having to build their own solutions.
We want our users to have access to multiple Document Processing engines and manage them in one place so they can reach high performance, optimize cost and cover all their needs. There are many reasons for using multiple Document Processing APIs :
Fallback provider is the ABCs.
Set up a Document Processing API that is requested if and only if the main Document Processing API does not perform well (or is down). You can use confidence score returned or other methods to check provider accuracy.
Performance optimization.
After the testing phase, you will be able to build a mapping of Document Processing vendors’ performance that depends on the criteria that you chose (languages, fields, etc.). Each data that you need to process will then be sent to the best Document Processing API.
Cost — Performance ratio optimization.
You can choose the cheapest Document Processing provider that performs well for your data.
Combine multiple AI APIs.
This approach is required if you look for high accuracy. The combination leads to higher costs but allows your AI service to be safe and accurate because Document Processing APIs will validate and invalidate each other for each piece of data.
How can Eden AI help you?
Eden AI is the future of AI usage in companies: our app allows you to call multiple AI APIs.
- Centralized and fully monitored billing on Eden AI for all Document Processing APIs
- Unified API for all providers: simple and standard to use, quick switch between providers, access to the specific features of each provider
- Standardized response format: the JSON output format is the same for all suppliers thanks to Eden AI’s standardization work. The response elements are also standardized thanks to Eden AI’s powerful matching algorithms.
- The best Artificial Intelligence APIs of the market are available: big cloud providers (Google, AWS, Microsoft, and more specialized engines)
- Data protection: Eden AI will not store or use any data. Possibility to filter to use only GDPR engines.
You can see Eden AI documentation here.
Next step in your project
The Eden AI team can help you with your Document Processing integration project. This can be done by :
- Organizing a product demo and a discussion to better understand your needs. You can book a time slot on this link: Contact
- By testing the public version of Eden AI for free: however, not all providers are available on this version. Some are only available on the Enterprise version.
- By benefiting from the support and advice of a team of experts to find the optimal combination of providers according to the specifics of your needs
- Having the possibility to integrate on a third party platform: we can quickly develop connectors
Originally published at https://www.edenai.co.
