Today the industry received word of an innovative new technology—Ephesoft Universe. Universe is a tool that matches enterprise Big Data with intelligent capture, allowing you to process and analyze all of the content contained in your organization’s documents, even if unstructured. I have had the pleasure of early access to the product for evaluation and want to share my thoughts with you.
Universe allows business users to define different documents and data they would like to analyze in an easy and intuitive fashion. By automatically identifying large amounts of data fields like addresses, amounts, etc., users can tag the values with appropriate names used in the business (e.g., primary address, loan amount, SSN, employer). Universe then analyzes the values and determines the best ways to extract the data as more documents are processed. Once the definitions are set up, very large groups of documents can be processed in a very short time by utilizing Apache Spark clusters. This can be deployed on premise or in the cloud.
It’s all well and good to rattle off some technical specs and usage but why should you, and I, care? While Ephesoft Enterprise for intelligent capture allows you to automate the intake of documents to drive business process and archival, it doesn’t harness the immense amount of data you already have in your enterprise. Imagine, as a mortgage insurance company, being able to set rates based on data you already have from the many closing packages you have processed. With Universe, this data is found by looking at defaults in various zip codes, size of homes, loan amounts, home values, and more. You can even look at the data you have and project it out for months. Consider a fraud detection company having the ability to determine how many loan applications a particular name or social security number has applied for in a specified amount of time. Many companies pay other entities for this information—data that already exists in documents they process in their enterprise.
We are excited about this innovative technology and the advanced solutions it will enable Zia to provide to our clients. Ephesoft Universe is going to save our customers time and money while lowering risk. Please contact us to discuss how this technology can help you.
– Pat Myers, EVP and Co-Founder of Zia Consulting