Too Long; Didn't Read
Gartner research found out that organizations worldwide record a 25% growth in paper usage every year. Yet managing paper is expensive. For instance, the average cost of processing an invoice is $12.50, with a median cost of $7.90. Intelligent document processing uses artificial intelligence to extract data from hard copy documents and make it searchable in a centralized digital platform, can solve this challenge. The banking and finance industry is characterized by regular processing of large amounts of paperwork and documentation.