Why “Digital Document Intelligence” is the Key to Transforming Finance Operations

It’s almost every day now – stories in the press about another AI breakthrough. 

But you’re not a neuro-digital engineering afficionado – you’re a businessperson. 

You’re not focused on whether we’re crossing the line into machine consciousness – that’s for the movies, or for the dreamers. You’re focused on a different line – the bottom line. 

You want to know – what might this “big breakthrough” in artificial intelligence do for me? How does it lower costs? How does it foster higher profits? How does it help my organization compete? 

You already have software packages. And when you adopted them, you were told that each was “transformative.” But alas, things sort of stayed the same. Those software packages were tools, and yes, they were helpful, but you still needed a staff to use those tools.  

Now you’re being told again that a new product is “transformative.” You’re skeptical – you’ve heard it all before. 

What’s going on here? What’s different about a product like Quidi? 

What’s different is something big: Quidi thinks. There are at least two aspects to thinking – self-awareness, yes, but also the capacity to analyze.  And with Quidi, you’ve got a platform that analyzes – it’s a tool that doesn’t need multiple people, a tool that analyzes on its own. 

In the past, software reformatted things – it rendered output that saved time for workers, or made large data sets more easily digestible. But what the output or the data meant – that was still left to people. 

Quidi figures out what documents mean. An example will be helpful. 

Suppose you have a pile of documents – hard copies, not digitized. With an older technology like OCR (“optical character recognition”), you can scan those documents and generate a digitized version. Then a worker can formulate and input “queries,” searching for certain phrases, and utilize the results to devise a “strategy” or engage in the “end use” – for example, search for the word “invoice” or “billing statement” in order to enable the worker to isolate and then correlate relevant documents to create an “accounts payable” overview. 

Sounds good – but here’s the catch. There are other phrases besides “invoice” or “billing statement” that represent an account that must be paid.  An OCR program, even one that flawlessly digitizes hard copies, still lacks that “thinking” element – it’s a tool that generates output that helps a human analyze the content, but it can’t analyze content itself. It’s always limited by the capacity of the worker to maximize its utility. So, if the query is flawed, the ultimate result is flawed. Quidi doesn’t face such a limit. Quidi analyzes content.  

Indeed, think of it this way: Quidi still generates raw output and raw data – but it doesn’t need a human to analyze that output and data. Quidi also does the analyzing. It doesn’t blindly search for rigidly-formulated phrases – it analytically scours text for meaning: what part of a form is boilerplate, what part of a form has been entered into the boilerplate, is the form a bill or is it a receipt, is it a shipping document or a business letter, does it square with previous related documents (for example does an invoice square with the original requisition)? Quidi separates “automatic” payments from invoices that should be questioned; identifies recurring payments that are standardized from “one-shots” that require justification; builds correlative output based upon random input; recognizes trends both good and bad, and raises red flags where indicated by experience and performance. 

How does Quidi do all these things? 

Quidi can sift through varying fonts, handwritten entries, and other irregularities, using enhanced “machine learning” to yield an accuracy level beyond that of OCR alone. And, when this enhanced vision is combined with natural language processing (“NLP”) and large language models (“LLM’s”), and further augmented by cognition of multiple languages, the result is something that mimics the way a human analyzes document contents. And the more the tool is used, the more that Quidi will learn. 

With Quidi, you don’t have a standard, out of the box software package – you have a digital partner. You don’t just utilize Quidi, you delegate to Quidi – because Quidi doesn’t just re-process data, it analyzes and extracts meaning. 

Call us today to find out why we’re so excited about the ways that Quidi can improve your bottom line!