Nanonets is a powerful AI-driven platform that offers a range of capabilities for businesses. It focuses on document processing and workflow automation, enabling companies to streamline their operations and gain valuable insights.
The platform utilizes AI to automate invoice processing and data extraction from various documents. This means that repetitive tasks can be automated, saving significant amounts of manual effort. In fact, it has been proven to reduce manual effort by an average of 88.3% and achieve a median ROI of 3.5x over a 6-month payback period, with a setup time that is 2-3x faster than industry standards.
Nanonets allows for the extraction of meaningful information from unstructured data. Whether it's from documents, emails, tickets, or databases, it breaks down data barriers and transforms the unstructured data into actionable insights. This is crucial for businesses as it enables them to make more informed decisions based on the data they have at hand.
Moreover, it offers the ability to automate complex business processes. With its no-code platform, even the most intricate manual workflows can be automated. The learnable decision engines equip teams with the tools they need to make faster and more informed decisions.
In terms of how it works, the process is straightforward. First, data or files are ingested from various sources such as emails, cloud storage services, and support tickets. Then, the advanced AI extractors accurately extract data without relying on predefined templates. After that, decision engines are leveraged to flag, review, validate files, or enhance the extracted or missing data. Finally, the structured data can be exported directly into a CRM, WMS, or database, or exported in formats like XLS, CSV, or XML.
Nanonets has been trusted by more than 34% of companies across various industries. It has demonstrated its impact with measurable ROI within months. For example, in the finance sector, it can automate accounts payable and reduce invoice processing time by 5x. In manufacturing, it can optimize the supply chain with 50% faster order processing. And in insurance underwriting, it can cut application processing time by 95%.
The platform also prioritizes data security, being compliant with GDPR, SOC2, and HIPAA. This ensures that the confidentiality and integrity of users' data are maintained.
Overall, Nanonets provides a comprehensive solution for businesses looking to leverage AI for document processing and workflow automation, enabling them to operate more efficiently and make better decisions based on their data.
