Is the Paperless Office Still Just a Dream?
As more and more companies embrace the paperless trend, it has now become easier than ever to send, receive, and manage information. However, we notilyzed that departments are still struggling to handle, open, read, summarize, classify, and rename large volumes of documents for the processing of applications. Working with confusing file names in various formats can be frustrating, and when it comes to reviewing transactions or other important data, you are really PDF’d. People see the DOC too often.
Fortunately, we can offer relief to the departments, the business, and its shareholders by automating these time-consuming tasks with SAS Visual Text Analytics. Check out our use case below to discover how.
Streamlining Application Processing
In an era where efficiency and accuracy are paramount, organizations are constantly seeking innovative solutions. One challenge faced by many is the processing of consumer applications and their attachments (financial documents, contracts, et cetera). The sheer volume of ‘paperwork’ coupled with the need for meticulous document verification can often lead to delays and inefficiencies. Our team recently collaborated with a client facing these exact challenges. Their goal was clear: To automate key aspects of the application processing workflow to accelerate decision-making while ensuring accuracy and compliance. Leveraging the advanced capabilities of SAS, we embarked on a journey to revolutionize their processes.
Automating Document Recognition and Categorization
The first challenge we faced was the laborious task of manually sorting and categorizing the numerous documents attached to the application. We developed a solution that automatically identifies and categorizes uploaded documents with remarkable precision. From bank statements to rental agreements, each document is swiftly processed, categorized, and renamed accordingly, reducing manual effort and minimizing the risk of errors.
Empowering our customer with Financial Insights
In the case of processing e.g. financial documents in welfare benefit applications, understanding an applicant's financial situation is essential for assessment of the application and solid financial advice. However, manually extracting and analysing relevant information from bank statements is time-consuming and prone to oversight. Our solution features a dynamic dashboard that converts raw bank statement data into actionable insights. It can be seamlessly integrated into an existing system. Our customer can now easily filter and explore applicants’ financial information, gaining greater control over the application process while enabling administrators to make informed decisions more efficiently.
Ensuring Address Verification Accuracy
Address verification is a critical component of application processing, ensuring that the documents submitted indeed belong to the applicant. To address this challenge, we employed sophisticated text extraction algorithms within SAS Viya to cross-reference the addressees of all documents with the applicant's information. Any discrepancies are flagged for further review, allowing administrators to swiftly resolve potential issues and maintain data integrity.
Proven Technology
Central to the robustness of this project was the comprehensive suite of tools in SAS Viya. It provided the foundation for building scalable and intelligent solutions tailored to our client's needs. Moreover, its intuitive interface and flexible deployment options ensured a seamless integration into their existing workflow. We were able to streamline workflows and enhance accuracy —all while driving operational efficiency and saving costs.
If you're facing similar challenges in your organization, don't hesitate to reach out. Together, we can transform your operations and unlock new opportunities for success.
