ancora Software Announces the Filing of a US Patent on the Application of Machine Learning in Data Capture for Commercial Documents

SAN DIEGO, Oct. 19, 2021 /PRNewswire-PRWeb/ -- ancora Software, Inc., a global leader in intelligent process automation solutions including Intelligent Document Classification and Advanced Data Capture, announced today the filing of a U.S. patent application for the way its ancoraDocs software can correctly identify data fields that must be captured from documents potentially distorted during the scanning process.

Soaring volumes of documents and data require businesses to find more efficient ways of capturing critical data from the documents they receive. For instance, processing and approving an invoice typically requires accounts payable staff to capture data such as the invoice number, the supplier's name and address, and the invoice amount and due date. Legacy data capture systems work well on well-designed well behaving documents with pre-defined layouts for each document type and the correct identification of keywords such as 'Loan Number' and 'Co-Borrower' to determine the exact location of the data that must be captured. These approaches to locating data often fail on badly designed documents or when vertical or horizontal shifts, noise, pre-printed lines, folds, or other distortions occur during the scanning process.

ancoraDocs uses patented technology to overcome the challenges caused by distorted images. The software utilizes a machine learning approach which is able to capitalize on the information from already processed images to capture the data from yet unprocessed images of documents such as invoices, purchase orders, sales orders, bills of lading, remittance documents, and health clams.

"The volume of information that organizations receive is growing every day," said ancora Software CEO Noel Flynn. "They cannot afford the time and resources to manually key data on every document that has become distorted during scanning. Using examples of documents from the same source and with the same layout the technology built into ancoraDocs automatically determines the precise location of data, even when an image has become distorted."

ancoraDocs' patented unassisted and assisted machine learning algorithms eliminate the need for document capture templates or a long, complicated setup. ancoraDocs can be deployed in hours or days, not the weeks or months required for traditional document capture solutions. ancoraDocs learns based on user interaction with the software. This helps users start realizing the benefits of automation sooner and produces a faster time to payback. ancoraDocs also is ideal for small businesses, which have historically not been able to take advantage of automated document capture because of the significant costs of getting started.

About ancora Software

ancora Software, Inc. is an innovative provider of Intelligent Process Automation solutions including Intelligent Document Classification and Data Capture. Its flagship product, ancoraDocs, simplifies document capture. ancora Software's patented artificial intelligence and machine learning technologies help organizations eliminate costly manual steps in their business processes such as document classification, document analysis, manual data entry, and manual filing. Organizations using ancora Software achieve faster and less expensive business process automation and better controls over their mission-critical information. Headquartered in San Diego, CA, ancora Software maintains sales and support operations throughout North America and in the United Kingdom.

For more information about ancora Software, Inc. visit http://www.ancorasoftware.com

Media Contact

Nick Bova, ancora Software, Inc., 614-496-6688, [email protected]

SOURCE ancora Software, Inc.