In a significant step toward digital optimization, one of Singapore’s most respected trade finance institutions has implemented Raapyd Intelligent Character Recognition (ICR) technology to modernize its document-heavy operations and streamline high-volume workflows.
Raapyd ICR software services were introduced to alleviate these pain points. The solution uses machine learning and deep data recognition to extract and validate data from semi-structured and unstructured documents, including handwriting, stamps, and bank forms common in trade transactions.
Eliminating operational inefficiency
Many critical operational challenges, particularly in document processing and compliance, were restricting the trade financing company’s speed and scalability. Teams were covered in paperwork, from shipping documentation and invoices to customs declarations and client KYC forms, in a high-volume setting where every transaction requires a lot of paperwork. Manual data entry was not only time-consuming but also prone to errors because these papers came in a variety of formats, many of which were handwritten, scanned, or irregularly structured.
Our Solutions
Automated data capture
We automated the collection of important information from handwritten, scanned, and printed documents, including shipping bills, invoices, and customs forms. This decreased human error and accelerated turnaround times.
Built-In accuracy
Teams can now focus on handling exceptions rather than tedious data entry because of the implemented system with built-in validation criteria to ensure accuracy and compliance.
Seamless integration
We ensured that the company’s current trade finance platforms integrated seamlessly, allowing for end-to-end automation without interfering with ongoing business processes.
Scalable operations
We enabled scalability so the company can now handle growing document volumes without needing to proportionally expand its operations team, supporting business growth without added overhead.
Accely has a long history as an innovation partner and is reliable as a technology consulting partner with its digital transformation services. They delivered a workable, scalable, and people-centred solution after thoroughly collaborating with the organization to identify its problems and match technology with its objectives.
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