Amazon Textract is a service that automatically extracts text and data from scanned documents. Amazon Textract goes beyond simple optical character recognition (OCR) to also identify the contents of fields in forms and information stored in tables.
Many companies today extract data from documents and forms through manual data entry that’s slow and expensive or through simple optical character recognition (OCR) software that requires manual customisation or configuration. Rules and workflows for each document and form often need to be hard-coded and updated with each change to the form or when dealing with multiple forms. If the form deviates from the rules, the output is often scrambled and unusable.
Create smart search indexes
Extract structured data from documents and create a smart index to allow you to search through millions of financial statements quickly. For example, a mortgage company could use Amazon Textract to process millions of scanned loan applications in a matter of hours and have the extracted data indexed in Amazon Elasticsearch. This would allow them to create search experiences like “search for loan applications where applicant name is John Doe,” or “search contracts where the interest rate is 2 percent.”
Build automated document processing workflows
Amazon Textract can provide the inputs required to automatically process forms without human intervention. For example, banks can automate loan applications using Amazon Textract. The information contained in the document could be used to initiate all of the necessary background and credit checks to approve the loan so that customers can get instant results of their application rather than having to wait several days for manual review and validation.
Maintain compliance in document archives
Because Amazon Textract identifies data types and form labels automatically, it’s easy to maintain compliance with information controls. For example, an insurer could use Amazon Textract to feed a workflow that automatically redacts personally identifiable information (PII) for their review before archiving claim forms by automatically recognizing the important key-value pairs that require protection.
Extract data quickly & accurately
Amazon Textract makes it easy to quickly and accurately extract data from documents, forms, and tables. Amazon Textract automatically detects a document’s layout and the key elements on the page, understands the data relationships in any embedded forms or tables, and extracts everything with its context intact. This means you can instantly use the extracted data in an application or store it in a database without a lot of complicated code in between.
No code or templates to maintain
Amazon Textract's pre-trained machine learning models eliminate the need to write code for data extraction, because they have already been trained on tens of millions of documents from virtually every industry, including contracts, tax documents, sales orders, enrollment forms, benefit applications, insurance claims, policy documents and many more. You no longer need to maintain code for every document or form you might receive or worry about how page layouts change over time.
Lower document processing costs
Amazon Textract provides OCR and structured data extraction (forms and tables) at very low cost, and you only pay for what you use. There are no upfront commitments or long-term contracts. You can easily process millions of documents using Amazon Textract's text extraction APIs.