Optimizing Data Extraction from Sale Deed Documents: A Game-Changer for BFSI Operations

Introduction

With the advent of the fast-paced digital age, the BFSI domain has to process all documents with no error and at lightning speed because there are enormous transactions going on around everywhere. One of those most critical processes is to extract key data from property sale deeds. Our partner is providing end to end solution to US corporates. They approached us when they faced an issue of low efficiency of extraction and in consistent stability in extracting data from 7,000-10,000 sale deed documents daily.

In this blog, we will cover:

1. Challenges in Extracting Data from Sale Deed Documents
2. Limitations of Existing AI-Based Solutions
3. How Our Solution Achieved 95%+ Accuracy
4. Impact on Cost and Operational Efficiency
5. Scaling Up: Increasing Processing Volume with the Same Setup

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Challenges in Extracting Data from Sale Deed Documents

Extracting data from structured and semi-structured multi variation sale deed documents presents several challenges:

• Variability in document formats and layouts.
• Need for high accuracy of final output due to financial and legal implications.
• Requirement to process thousands of documents per day in a time bound manner efficiently.

Limitations of Existing AI-Based Solutions

Our partner had previously collaborated with another AI-based data extraction provider. However, the solution faced significant limitations:

• Extraction efficiency was between 70%-80%, requiring extensive manual intervention.
• High day-to-day variation in accuracy led to unstable performance.
• Large back-office manpower resources required to edit extracted data, increasing operational costs.
• Lack of scalability without proportional increases in workforce and expenses.

How Our Solution Achieved 95%+ Accuracy

To address these issues, we designed a custom AI/ML-based data extraction solution with:

• Advanced Natural Language Processing (NLP) Models: Capable of understanding legal terminologies and variations in document structure.
• Proprietary AI Training Models: Specifically trained on thousands of sale deed documents to improve accuracy.
• Continuous Learning Mechanism: AI models evolve with additional data, ensuring ongoing improvements.
• High Stability: Efficiency variation limited to +/-2% of the average accuracy.

Impact on Cost and Operational Efficiency

By deploying our solution, the BFSI client achieved:

• 95%+ Extraction Accuracy: Right from the start, reducing the need for manual corrections.
• 40%-50% Reduction in Operational Costs: Due to minimized reliance on human intervention.
• Consistent Performance: Providing stability and reliability in daily document processing.

Scaling Up: Increasing Processing Volume with the Same Setup

Thanks to improved accuracy and efficiency, our client is now working with customers to increase daily processing volume from 12,000 to 20,000+ documents without additional infrastructure or manpower. This scalability ensures long-term growth without proportional cost increases.

Conclusion

By leveraging AI/ML-driven solutions, BFSI firms can significantly enhance their document processing capabilities. Our tailored approach ensures higher efficiency, reduced costs, and scalable operations.

If you are looking for an AI-driven document processing solution with high accuracy and scalability, reach out to us today. Let’s revolutionize your data extraction process together!

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https://terraedgesoft.com/