KlearStack AI has developed a versatile rule engine that can help not only automate the reconciliation process for organizations but also transform and standardize data.
Businesses deal with a ton of unstructured paperwork daily, which often needs to be reconciled with one another to ensure that the right items have been processed accurately. This often leads to time-consuming processes such as reconciling invoices with purchase orders, or the purchase orders with data from payment advice received from customers, or expense receipts with expense reports. Manually reconciling this data is obviously very time consuming and not very desirable.
KlearStack AI has now developed a document data validation and transformation rule engine that automates the reconciliation process for organizations while enabling them to transform and standardize data. It enables end-to-end document automation for organizations, saving them countless hours in the process as they can now focus more on their core activities to grow their business. KlearStack AI currently offers two types of rule engine features, namely, data validation and data transformation.
Data validation is a form of rule engine function created to help businesses handle documents that meet a specific set of criteria. The organization can add these requirements on its own – by configuring their business rules in KlearStack. Once KlearStack AI captures the data from documents, the captured data is then processed by these configured rules. If the rule is satisfied, the document goes into Straight Through Processing and if any of the rules fails, the document goes into Exception Queue for quick manual review. The data validation rule engine makes end-to-end document automation possible and minimizes human intervention.
On the other hand, users can configure data transformation rules to transform the captured data as per their business processes. E.g. item codes and item descriptions in the invoice/ PO line items can be transformed to the item codes and item names as per the SKU/ inventory management system. The standardized use of data is made possible by this rule engine feature.
The data validation as well as transformation rules can be used for header items or even the line items of the document being processed.
While the documents are being processed, the data transformation rule engine is crucial in transforming header items and line item data from various documents and enabling standardization. Standardization makes it simple to search for things in an invoice on the system and keeps the text uniform.
The data transformation rule engine also has the ability to assist in determining whether or not objects are out-of-date. This can be accomplished by configuring a data transformation rule providing a list of item codes or item descriptions that are now outdated and should be replaced with new ones. KlearStack AI’s data transformation rule engine will then be able to automatically cross-check the items to see if they are indeed out of date. E.g. If a customer sends a PO that includes an item that a company no longer supplies, KlearStack can automatically detect such items and replace those with the right substitutes, thereby immensely saving precious time and enhancing the business potential.
Speaking about the rule engine feature, Ashutosh Saitwal, Founder & CEO KlearStack AI, stated, “ From discussions with our clients and partners, we realized that there is a need for organizations to have configurable business rules. Every organization has different SOPs; therefore, we understand that each business needs to have the ability to put their own rules in place to process documents.”
He further adds, “We also realized that there was a demand for solutions that goes beyond data extraction from documents. Extraction should not be the end. Document intelligence should go beyond data extraction. KlearStack AI makes classifying, extracting, digitizing, validating and transforming documents using proprietary AI, making Intelligent Document Processing (IDP) possible like no other platform. ”
Some of the unparalleled advantages offered by the rule engine feature of KlearStack AI include:
– Easy cross-verification of documents as organizations can now automate the process of checking one document with another and avoid manually cross-checking documents.
– Standardize unstructured data and the language used while processing the documents, irrespective of the supplier or vendor partner the document has come from. This allows each document to be standardized automatically without manually changing those.
– Eradication of human intervention as all data validation and data transformation are done automatically without any errors, in a seamless manner.
– Enhanced productivity due to time-efficient document processing during peak business seasons, opening up more time for businesses to focus on the core functions of their organization.
To learn more, visit: https://www.klearstack.com
Used by leading firms and Fortune 500 companies in banking, manufacturing, trade, invoice processing, inventory management, supply chain automation, and more, KlearStack is an internationally acclaimed award-winning AI-based solution known to eliminate manual work.