Subscription service leverages artificial intelligence with the firm’s industry knowledge and data extraction expertise to deliver more accurate results in one-tenth the timeframe
Axis Technical Group, the company that helps clients align their path to growth, today announced the availability of Axis Smart Data Extraction™ for Land and Title documents. This new subscription service provides a cost-effective approach for companies looking to improve efficiency by accelerating the process of how data is extracted from unstructured documents.
Despite the progress achieved in moving away from the paper-based, manual processes that are still part of Land and Title transactions, the complete transition to paperless has not yet been completed. Examples of these documents include deeds, mortgages, assignments, releases, and modifications. These and other industries still rely on manual data entry and validation processes. Artificial Intelligence is gaining favor to help accelerate this transition, however, substantial challenges exist in effectively applying this technology – until now.
For the past several years, Axis Technical Group has been pioneering and refining how to improve document management and data extraction. This product development period included how to best use Artificial Intelligence and machine learning to augment performance. As more documents were added to the company’s library of Title documents, breakthroughs were achieved that streamlined and automated how this data can be captured, stored, and analyzed.
Based on preliminary results, Axis Smart Data Extraction can deliver a data extraction accuracy rate of 95% or higher, well above typical industry performance. The company will also offer a premium service whereby extracted data is delivered within 90 minutes for those clients requiring a fast turnaround time.
“The launch of Axis Smart Data Extraction is a culmination of our working with partners and existing customers to optimize the extraction of critical data points from Land and Title documents,” said Michael Valdes, President, Axis Technical Group. “Our new subscription service offers a compelling value proposition for companies that can close more business with faster access to more accurate data.