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Return to Customers

Insurance Company Streamlines Invoice Processing

Background

The Fortune 500 insurance company was used to doing things in the same way for decades. This meant that they had amassed multiple clunky legacy systems to handle their processing needs. The disparate systems didn’t talk to each other, requiring manual entry to transfer data between them.

With corporate mandates in place and an Intelligent Automation team to support, the organization was looking to eliminate this unnecessary middle step and cut manual data extraction time.

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The fortune 500 mutual insurance company replaced legacy technology with Hyperscience to streamline invoice processing.

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Why Hyperscience

Hyperscience’s offering blew the legacy solution away with its ability to reliably and automatically extract data from both handwritten invoices from small businesses and invoices from large banks. Even more impressive for the firm was Hyperscience’s ease of use and customization.

With Hyperscience, the client was able to set up a layout from one blank template. The realization that they would be self-sufficient was a game changer.

The Total Economic Impact™ of Hyperscience

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Results Delivered

Leveraging Hyperscience’s existing integration with Blue Prism, a leading RPA provider, digital workers were able to move the Accounts Payable invoices from a centralized inbox into Hyperscience for automated classification and data extraction.

Whereas before the company relied entirely on manual invoice processing, which often meant missed SLAs, today employees who were previously keying information can pivot to more valuable work.

In addition, the internal audit team is now able to trace where each data point came from and easily view the original document; something that was previously impossible.