Use SelfServe to supercharge business processes with Gen AI
Tags: nocode, documentparsing, data, beginners
Published: 2024-04-16 11:55:29

In any business, _automation is key_. But, it’s always not clear as to what processes within the business need automation before the rest. As a general rule of thumb, if you find yourself doing something manually twice, it needs to be automated.

Now for a growing business to get the right customer many a time they need to deep dive into details like invoices or other financial documents. And this would mean either you or one of your employees will have to dedicate his entire time to do this, every single day.

So within our team, to ensure no one goes through this again; we built [SelfServe](https://app.powercred.io) that does all the heavy lifting for you. **From digitizing any document to converting them into actionable insight, SelfServe does it all.**

But to understand why SelfServe is so helpful, you should know the problems in traditional OCR tools.

## Traditional OCR: What’s Lacking

Let’s consider the banking industry, with so many banks out there, there are endless types of bank statements.
In case of bank statements, the fields indicating important data might also vary from one another.
For example, sometimes the currency is in dollars, in other cases it’s in Rupiah. Most of the time the formatting is all over the place, and all this causes major problems for traditional OCR.
You could say that a human can read such variations pretty easily. We do so by skimming a document where we know where to expect localized data. But in the case of us, the problem lies in the amount of time spent.
_So what’s the solution to this?_

## OCR supercharged with Gen AI

**Enter: SelfServe**. Now SelfServe (as we like to call it; meaning anyone can use it ) is an “**[Intelligent Document Parser](https://medium.com/@PowerCred/unlocking-the-power-of-intelligent-document-parsing-7aee64da010c)**”, that completely digitizes and automates the processing of any sort of variable document (bank statements in our case).

Now when we say “variable documents” here means documents that have similar data but in totally different formats.
SelfServe understands this and allows the user to upload any document of any format and uses Gen AI to improve and speed up the processing of any such documents

## How does it work?

Two major parts by which SelfServe improves the process.
First, since SelfServe makes use of Gen AI to process documents, **there is no need for training models.**
If you have a specific field that needs to be reviewed simply enable it while selecting the outcomes you need. Yes, it’s that easy!
As a result, your developer or risk team or anyone who works with a lot of documents and data can make use of this to 10x their productivity.
Next time, you come across any document you won’t be bothered with the type or format of the document provided. 
This itself is a huge advantage of using SelfServe.

The other part would be **Data Validation and Visualization.** It is super easy to check for fraudulent documents as SelfServe comes with a fraud detector within its modules.
You can cross-verify documents and compare them to samples that you know are authentic.
Not just that, SelfServe also helps you extract and visualize trends that are relevant to your industry.

For example, a lending fintech startup would be interested to know **”how many recurring monthly emis their potential customer has”** thus helping them to assess the client’s creditworthiness quicker.

**_Traditional OCR does not work like this at all._**

Such a humanized yet digital and automated approach is what SelfServe is trying to take when it comes to document parsing.

So that’s how we at [PowerCred](https://www.powercred.io) are making use of SelfServe to automate and speed up our document processing.


**Did you face any challenges with document parsing? Let us know in the comments below how you solved them!!**