Automated Handwritten Document Data Extraction

Convert Handwritten Documents into Usable Data

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A well-known leading retirement service provider company in the US that handles 401(k) forms - a retirement savings plan. The company provides innovative solutions and offerings that enable customers with tools, resources and information for their holistic financial well-being.

Challenge

large volumes of forms in multiple formats with different handwritten texts, across their back-office processes. Going through each form, identifying different styles of handwriting manually, reading checkboxes and recording the data was tedious and error prone

large volumes of forms in multiple formats with different handwritten texts, across their back-office processes. Going through each form, identifying different styles of handwriting manually, reading checkboxes and recording the data was tedious and error prone

~10,000 handwritten forms were being processed manually each month. The entire process was labour-intensive and involved eyeballing of forms, forcing employees to intervene rather than spend their time better by focusing on other crucial tasks.

~10,000 handwritten forms were being processed manually each month. The entire process was labour-intensive and involved eyeballing of forms, forcing employees to intervene rather than spend their time better by focusing on other crucial tasks.

Processing a large quantity of handwritten 401(k) forms manually with human intervention at multiple points results in longer processing times, higher error rates and delayed payments – leading to unhappy customers.

Processing a large quantity of handwritten 401(k) forms manually with human intervention at multiple points results in longer processing times, higher error rates and delayed payments – leading to unhappy customers.

The handwritten forms were processed and maintained, which was proving to be expensive and increasing complexities in extracting data accurately from formats such as checkboxes.  

The handwritten forms were processed and maintained, which was proving to be expensive and increasing complexities in extracting data accurately from formats such as checkboxes.  

Botminds Solution

A private cloud deployment of the Botminds AI platform was done to keep documents secure in the client’s environment.

A private cloud deployment of the Botminds AI platform was done to keep documents secure in the client’s environment.

The scope of the initial automation was identified - two forms that contributed to over 55% of volumes and the data from 40-45 fields were extracted for downstream processing

The scope of the initial automation was identified - two forms that contributed to over 55% of volumes and the data from 40-45 fields were extracted for downstream processing

50-70 samples were selected for training the model and this was sufficient to generate predictions with over 80% accuracy.

50-70 samples were selected for training the model and this was sufficient to generate predictions with over 80% accuracy.

Results

90%
Accuracy

Up to 100% accuracy that improves over time compared to the manual process of going through the forms to decipher information.

4X
Process Efficiency

Automatically extract, normalise and validate data from multiple, complex 401K records in minutes

75%
Reduced Time

Improvement in turnaround time, enabling the client team to deliver better customer service

3x
Increase in volume

Increase in the volume of forms processed by 3X, as Pre-trained models are extensible to all the form types the client processes with minimal additional training or onboarding.

See Botminds Platform In Action

Learn how Botminds Intelligent Document Process can drive ROI, reduce costs, and save time for your business.

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