Document Engineering: The Future of Documents is Finally Here
Right now, every business is underperforming their true potential.
Their business systems are fundamentally incomplete. They are missing insights that could drive their success. They are slower and less efficient than they should be.
It may sound harsh, but it’s reality.
The reason? They are missing a huge part of the vital information that should be fueling their success. They are fighting with one arm tied behind their back.
Studies consistently show the majority of an organization’s information is trapped as unstructured data in documents, inaccessible to enterprise databases, analytics tools, and line of business systems.
For decades, people have dreamed of unlocking the vital information in documents, but every effort has fallen short. The data extraction model has inherently and consistently failed to directly empower business users.
But today, thanks to advances in AI, declarative markup, and the cloud, an entirely new model is possible.
It is a whole new way of seeing and using documents.
Where others see loans, leases, financial instruments, MSAs, contracts, and drug clinical trials, we see “chunks” of information.
We see “chunks” in every section, every clause, every date, every price, every contract deadline, every insurance condition, every product description, every property of a drug under research.
Identifying these chunks creates a hierarchical data representation of each document in its entirety – not just a few extracted bits of data – making it easy and efficient to assemble new documents, generate insights and reports, drive line-of-business systems, and create a single system of record that combines enterprise and document data.
Document Engineering is the Holy Grail for helping every organization achieve their full potential. But it has to be done right.
It must be designed for frontline workers and managers.
It must be running and providing value on Day One.
It cannot require massive investments in machine learning, staff training, IT development, or armies of consultants.
It must understand the unique structure and content of your documents – your “small data.”
For decades, the problem of unstructured data in documents has been staring us right in the face, so pervasive that people may have thought “that’s just the way it is.” We say AI, XML, and cloud technologies now allow us to chart a new way.