NovoDynamics has announced the release of NovoDocufier, its new Intelligent Document Recognition (IDR) software solution, able to process diverse document types in centralised or distributed document capture environments.

The company claims NovoDocufier eliminates the need for costly professional services and IT specialists to create and maintain complex models, page templates and page recognition rules.

The artificial intelligence engineered into NovoDocufier aims to simplifiy initial set-up and facilitates the addition of new document types in minutes. As additional document types are added, NovoDocufier trains itself to generate associations within document classes and profiles.

“Systems that are constrained by templates and rely heavily on text-based classification typically become bogged down when more than 20 document types are involved,” explains Tim Dubes, vice president of marketing for NovoDynamics. 

“NovoDocufier can quickly differentiate document types without having to sequentially parse through a template library to find a match.  This is especially important for service bureaus that process documents from many different organisations. Mailroom automation, invoicing and image-to-archive automation implementations will benefit from NovoDocufier as well.”

Dubes says many competitors take up to 90 days to implement an invoice processing solution, whereas NovoDocufier can be up an running in as little as 3 days.

“A lot of companies who do document classification specialise in invoice processing, they put all their eggs into that basket. Where they have the most value is their integration with SAP and Oracle  backends and other assorted erp platforms, and there’s a lot of effort that goes into that as well as establishing the templates for the documents. We don’t necessarily have out of the box integration with erp systems, but we can offer something that can identify the documents quickly and hand off the documents as well as the classifying data almost a magnitude faster than anybody else.”

NovoDocufier has built its own NovoDynamics Automated Classification Engine which leverages advanced artificial intelligence, page pixel analytics and topographical technologies developed by the company’s scientists and engineers.

According to Dubes, “NovoDocufier identifies documents in the same way people recognise individuals, by first utilising image-based analyses for a quick assessment of characteristics, then applying OCR as needed and only on selected regions of the document. Other products base identification on time-consuming OCR and keyword search methodologies, essentially having to ‘read’ through the entire document.”

The company is targetting service bureaus and high volume document capture and classification processes such as invoice, loan and claims processing. A distribution and reseller network has been established in the US and Europe while the Asia-Pacific market is in its sights.

www.NovoDynamics.com