Kanverse.ai Introduces Next-Generation Cognitive Automation Platform and Launches Intelligent Document Processing Product (IDP)

By AIT News Desk On May 6, 2021

Kanverse.ai, a cognitive automation company, has announced the global launch of the Datolite release of its patent-pending AI-powered Intelligent Document Processing Product for Enterprise.

Kanverse IDP is built on Kanverse Cognitive Automation platform. It combines AI with Optical Character Recognition (OCR), Business rule framework and Automation to provide an end-to-end product that digitizes document processing for enterprises from ingestion, classification, extraction, validation to filing. The entire process is powered by Computer vision, Natural Language Processing (NLP), Fuzzy Logic, and machine learning (ML) algorithms to make business processes more efficient and seamless, optimize cost, minimize human error and to mitigate risk.

“Kanverse was born out of the idea to fire up a digital revolution of sorts for enterprises by delivering innovative AI-driven automation capabilities. We wanted enterprises to think beyond digital transformation as a one-off mission. What we seek to achieve here is digital transformation through AI powered workflows across the Enterprise. Kanverse Cognitive Automation helps enterprises optimize cost of operations, accelerates agility and turbo charges productivity,” said Karan Yaramada, CEO, Kanverse.ai, on the company’s vision.

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Multi-tenant SaaS product with organization hierarchy and role-based access control.
Ingestion through Email alias, SharePoint, FTP folders, Portals through REST API.
Highly accurate extraction with up to 99.5% accuracy achieved through combination of AI technologies with OCR.
Support for documents in multiple languages.
Executive Dashboard. Access business critical KPIs through a new intuitive dashboard that supports dynamic data visualization.
Advanced business rule framework for capturing and codifying tribal knowledge and validating data before they enter systems of records. A library of out of box rules is included.
In-built full-fledged workflow engine to orchestrate interactions with multiple systems for validating the data.
Out of box connectors for Oracle EBS and Oracle Fusion.
Secure and powerful login option for users using SSO.

Dr. Akhil Sahai, CPO, Kanverse.ai highlights the need for IDP in today’s Enterprises, “Unstructured and Semi-structured information has been holding up end-to-end digitization of enterprise processes. Kanverse IDP enables intelligent capture of unstructured and semi-structured data, moving beyond traditional template-based solutions that don’t scale. It combines Cognitive computing with Automation to be head and shoulders above piecemeal RPA offerings. It is time we herald digital transformation for the Enterprise.”

Fellowes Brands went recently live with Kanverse IDP. Nanda Bolleddula, Director, Business Technology Solutions, Fellowes Brands, shares his experience on how Kanverse IDP has enabled a digital transformation, “Invoice processing has always been an exacting task for our Finance team, not to mention the sheer volume of invoices, the resources and time involved. Today with Kanverse IDP, and the unprecedented levels of automation it offers, we are not only digitizing this otherwise strenuous manual process but are able to achieve high levels of productivity. Kanverse has truly delivered on its promise of zero touch AP Invoice Automation.”