Originally published at https://nanonets.com on June 28, 2021.

The rate at which we generate information has been growing for years, especially text-based data like documents and reports. Using this data, we were able to generate many valuable insights and predictions with powerful algorithms.

However, building these algorithms or computer programs from scratch requires extensive expertise and experimenting, especially for information extraction from text-based data. Hence we rely on NLP (Natural Language Processing) techniques like Named Entity Recognition (NER) to identify and extract the essential entities from any text-based documents.

In this guide, we’ll be deep-diving into NER and its brief…

Originally published at https://nanonets.com on June 28, 2021.

What is Data Extraction

Sir Doyle might just have been a visionary when he made Sherlock cry out impatiently “Data! data! data! I can’t make bricks without clay.”

With data becoming the lifeblood for businesses worldwide, data extraction is a vital operation that defines the line between success and failure. Not surprisingly, the global data extraction market that was valued at $2.14 billion in 2019 is projected to reach $4.90 billion by 2027.

Data extraction is the process of acquiring and processing raw data of various forms and types to improve the…

Originally published at https://nanonets.com on June 23, 2021.

Find out how data entry automation can help your business optimize workflows. Eliminate bottlenecks created by manual data entry processes.

Data Entry

Data entry is the process of extracting and entering relevant information in a computerized system or ERP software. This is an essential process in businesses that seek to reorganize data into convenient formats for additional downstream processing.

For example, Accounts Payable teams in organizations have to extract data from important fields in supplier invoices. …

Originally published at https://nanonets.com on June 9, 2021.

Tired of workflows that require you to rename PDF files or documents? Automate such tedious manual tasks with Nanonets data entry automation. Check out Nanonets’ Zap to automatically rename PDF files based on their content!

Why Rename PDF Files based on their content?

* PDF files shared between organizations are named haphazardly. * The file names often have nothing to do with the data they contain. * This makes it hard to keep track of documents and identify them. * Precious man-hours are spent in renaming and organizing such documents for convenient reference. …

Originally published at https://nanonets.com on May 28, 2021.

Why Convert Bank Statements to Excel

In the current era where almost all business transactions are digitized, it is important to convert bank statements to Excel, csv or other structured file formats. Such digitization is vital for producing reports, presentations, archiving of records, and making data in these documents machine-readable.

Most bank transactions are now online, and this includes the issuance and receipts of bank statements by banking customers. …

Originally published at https://nanonets.com on May 26, 2021.

What is Invoice Capture & Why is it Important?

Invoice data capture and processing is a vital function of the Accounts Payable department in any company.

It is the process of extracting relevant data such as invoice number, supplier name, address, amount etc., from invoices, validating the extracted information, uploading it to an ERP software, ascertaining match (against receipts & POs) and finally initiating payments.

A methodical invoice data capture prevents backlog, transaction errors, and enables seamless “closing of the books”.

Efficient invoice capture carries with it the following benefits:

  • Reduces back-office cost and time investment by streamlining documentation and organising…

Originally published at https://nanonets.com on May 25, 2021.

Why Convert PDF to XML?

The PDF file format is convenient for visualizing & sharing data. But PDFs are not machine readable! The data contained in PDFs isn’t structured in a format that computers can “read” or “understand”.

Converting a PDF to XML or any other structured format (CSV, JSON, Excel etc.) allows computers to process data easily. This is especially crucial for organizations that look to embrace end-to-end digital workflows.

This article covers various options to convert PDF to XML. …

Originally published at https://nanonets.com on May 19, 2021.

This blog discusses Named-entity Recognition (NER) — a method of structured data information extraction from documents. Using Natural language processing it classifies named entities mentioned in unstructured text into structured pre-defined categories.

The problem is quite simple to define. You have documents say invoices, receipts, Purchase orders, etc that come into your company’s numerous workflows. These documents are manually digitized by a human operator and fed into a software system which is time consuming and error-prone. You want to automate this digitization using Deep Learning.

The solution to this problem is not…

Originally published at https://nanonets.com on May 19, 2021.

Business data & transactions are increasingly going digital these days. And paper documents are being replaced with scanned images, PDFs, emails, and other digital formats. Business workflows run smoother on digital documents, as important data can be shared almost instantly.

The effect of this digital transformation can largely be seen in the way businesses process & validate invoices, using invoice scanners (also receipt scanners). As invoices, receipts, and POs are some of the most common documents that businesses have to process regularly.

What is an Invoice Scanner or Invoice Scanning

An invoice scanner is a software that captures all the…

Originally published at https://nanonets.com on April 14, 2021.

Ever tried extracting data from PDFs? It can be extremely tedious and time-consuming! While you could still extract text from PDFs by copy-pasting (prone to formatting errors), extracting tables from a PDF is way more complicated & cumbersome! Ever tried converting a bank statement from PDF to Excel?

Business workflows today largely involve the exchange of PDF documents( financial documents such as invoices, receipts, reports etc.). And most data-rich business documents present complex information in tables.

“A PDF contains instructions to place a character at an x,y coordinate on a 2-D plane…

Prithiv Sassisegarane

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