Businesses of all sizes grapple with the complexities of managing and processing documents. The sheer volume of documents alone can be overwhelming. Manual tasks like data entry and document classification take up valuable time. Extracting relevant information from lengthy documents is another major hurdle.
Fortunately, Enterprise Content Management (ECM) and Document Management Software (DMS) solutions have changed the game, making it easier for organizations to optimize their document management process.
There’s just one catch: Someone still has to read through these documents to find the information they’re looking for.
Get to the Point with Auto-Summarization
With PrizmDoc’s AI-powered Auto Summarization feature, teams don’t have to waste hours sifting through documents. Using IBM’s watsonx.ai technology, PrizmDoc Auto Summarization highlights key information from the document. Users can understand the main takeaways without having to read an entire document.
Auto Summarization allows ECM software vendors to offer their users a more efficient, secure document management and process experience.
Benefits of AI-Powered Auto Summarization
The time companies spend managing documents is astounding. Document-related challenges result in a 21.3% productivity loss for businesses. Document review can be just as time-consuming. To review 5,000 documents at an anticipated rate of 40 documents per hour, it would take approximately 125 reviewer hours.
With PrizmDoc’s Auto Summarization, users can easily navigate the vast amounts of data in their ECM system. They’re able to spend their time actually applying that data to achieve business objectives and make more informed decisions.
Boosting efficiency is just one of the many benefits of AI-powered Auto Summarization. Here are some of the other ways ECM users will benefit.
Improved Accuracy
Humans are susceptible to errors and bias. One document reviewer might interpret the data in a vastly different way than another reviewer.
PrizmDoc’s AI-powered Auto Summarization relies on data over human summaries. This minimizes the chance of human error in summarizing key facts and figures. By producing more accurate summaries, Auto Summarization helps teams do more with the data they have at their fingertips.
Better Collaboration
Teams work better together when they can quickly share document insights. PrizmDoc’s Auto Summarization allows teams to review and discuss multiple documents while ensuring all team members are on the same page. They don’t have to set aside time in their day to review a document before a meeting.
Greater Standardization
Not all human-created summaries are created equal. Even though many companies have high standards for information processing, teams may not follow the same process when summarizing documents.
With AI-powered summarization, document summaries are consistent and follow a standardized format. Everyone on the team receives the same quality of information in an easy-to-follow layout.
Seamless Integration and Customization
When users leave their ECM or DMS to use other applications, they put their data at risk. PrizmDoc’s AI-powered Auto Summarization integrates seamlessly with existing ECM applications. Users have access to powerful document processing tools directly in the ECM. Documents are secure, and teams can work more efficiently without having to toggle between programs.
How Auto Summarization Helps Independent Software Vendors Stay Competitive with AI Technology
ISVs continuously strive to stay ahead of the latest technologies and enhance the user experience. As more enterprise users leverage AI to streamline productivity and gain a competitive edge, ISVs feel the pressure to bring AI features to market faster. By 2027, the AI market is expected to reach $407 billion.
ISVs face a unique set of challenges when it comes to AI. Without an extensive in-house team, many ISVs lack the resources to develop and manage an AI solution. Finding AI experts with the necessary skills is often a competitive and costly endeavor.
Developing and maintaining AI features also requires a significant investment. Securing the infrastructure, tools, and personnel can be a considerable challenge. Even with these pieces in place, in-house teams may struggle to build and optimize their AI models and obtain high-quality data for AI model training.
Plus, when it comes to AI, timing is everything. Development of a new AI technology may take several months to several years. To keep pace with the rapidly growing AI market, ISVs have no time to spare.
PrizmDoc’s AI-powered Auto Summarization, integrated with IBM watsonx.ai, eliminates the need to hire a dedicated AI team and invest in the necessary resources. Auto Summarization allows you to bring AI to market faster through your existing ECM system. Your ECM users will have access to IBM’s next-generation AI and data platform, watsonx.ai.
Use Cases for AI-Powered Auto Summarization
Virtually any team can benefit from managing their documents using AI-powered summarization. But in certain industries that handle a heavy load of documents, Auto Summarization is even more beneficial.
Legal Document Processing
During complex litigation cases, law firms often deal with a large volume of electronic documents. Manually reviewing and analyzing emails, contracts, and financial records is a time-consuming task.
AI-powered summarization significantly streamlines the eDiscovery process. Legal teams can determine which documents will best support their case without opening a single one. Auto Summarization quickly encapsulates each document, helping teams pare down the list of files they’ll want to review in greater detail. With Auto Summarization, teams can also extract critical information from their documents, including names, dates, and key phrases.
Unleash Your ECM Platform’s Full Potential with AI-Powered Auto Summarization
PrizmDoc helps developers enhance their applications through in-browser document viewing, creation, editing, and collaboration. The platform’s AI-powered summarization feature revolutionizes how ISVs integrate AI technology into their solutions.
Schedule a demo to see PrizmDoc’s AI-powered Auto Summarization feature in action!
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