Fluorite release revolutionizes ACORD and Supplementary Forms processing for the insurance industry with up to 99.5% extraction accuracy. In addition, the entire workflow - right from forms ingestion, classification, extraction, and data validation, is powered by automation.
Fluorite release also enhances Kanverse AP Invoice Automation offering by introducing anomaly detection capabilities to prevent AP fraud. A powerful drag and drop UI component built delivers seamless 2-way or 3-way invoice matching experiences. Furthermore, the latest advancements in vision and NLP model delivers a promising 99.5% accuracy across new document categories.
This release also brings the much-awaited zero-code approach towards building custom flows in the product. The new Kanverse workflow engine enables users to visually create fresh or modify flows through an intuitive interface. Fluorite promises much more.
What's New:
Process insurance ACORD and Supplementary Forms with 99.5% extraction accuracy
- The Kanverse system automatically detects and imports forms from multiple channels (Digital mailroom, FTP, SharePoint, etc.) for processing
- Unmatched industry-leading extraction accuracy up to 99.5% is achieved by combining multiple AI technologies with OCR
- Kanverse vision model inspects to comprehend form elements while processing and ensures high precision
- Kanverse AI is built to seamlessly accommodate layout changes across both ACORD and Supplementary Forms
Validate extracted data from insurance ACORD and Supplementary Forms
- New generation business rules framework for insurance data validation performs various lookups and validates the extracted data
- New component built facilitates ease of use while deploying new business rules or modifying existing ones
End-to-end workflow automation for ACORD and Supplementary Forms processing
- The automated workflow includes forms ingestion, classification, extraction, validation, approval, and data publish - From the moment ACORD and Supplementary Forms enter the system
Enhance employee experience through collaboration and engagement
- Collaborate and process insurance ACORD and Supplementary forms - Tag and message team members from within the product with action directives while processing the forms
- An intuitive dashboard supports dynamic charts with drilled down analytics – helps enhance employee experience and performance
Prevent AP Fraud with Anomaly Detection
- Detect sharp changes in invoice amounts using AI and take investigative actions to prevent revenue loss. The system automatically notifies operators if any anomaly patterns are detected
Kanverse Workflow Engine
- Users can now visually build new or custom flows in the product using the workflow engine powered by an intuitive UI component
2-way or 3-way invoice matching through drag and drop
- Users can now leverage a new drag and drop UI component to perform 2-way or 3-way invoice matching with POs seamlessly
- Considers various situations - Multiple PO / Missing PO
A new, improved payments & billing module
- Fluorite release makes provisions to accept payments using credit cards. Users can also view payment history and download invoices.
An Innovative error analytics dashboard helps users,
- Drill down into invoice processing errors
- Understand error sources with vendor insights and prevent errors
- Get customized view based on requirements
Additional new features introduced in the Fluorite release
- Supports multiple departments within an organization by creating different tenants (HR, Finance, Operations)
- Support for other image types (.tiff, .bmp)
- Support for new connector – Oracle NetSuite
