Datamatics
AI-driven automation, data analytics, and digital transformation solutions.. [Contact for Pricing]
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What is Datamatics?
TruCap+ is Datamatics' proprietary Intelligent Document Processing (IDP) solution that uses AI/ML and Generative AI to automate data extraction from unstructured, semi-structured, and structured documents. The platform offers a template-free approach that reduces setup time by 30-70% and delivers faster time-to-automation without requiring users to create and maintain document templates.
Key features include AI-powered data capture with 75%+ accuracy for the classic version and 90%+ accuracy for the GenAI version, multi-OCR convergence for better accuracy, natural language querying, contextual querying, co-pilot for document ontologies using GenAI, and seamless integration with RPA products including TruBot. The platform supports multilingual documents, handwritten documents, extraction from barcodes/QR codes/photos/signatures, and offers browser-based access with an intuitive GUI. TruCap+ provides end-to-end automation through upstream and downstream integration via REST APIs, human-in-the-loop (HITL) capabilities, role-based access, analytics & dashboards, and enterprise-grade security.
TruCap+ is designed for enterprises across Banking, Financial Services, Insurance, Healthcare, Manufacturing, Logistics, and Media & Publishing that need to automate document-intensive processes. It is ideal for knowledge workers who spend significant time on manual data entry, business users and SMEs who need quick document automation without technical expertise, and organizations handling invoices, purchase orders, bank statements, contracts, legal documents, financial statements, medical images, driving licenses, and HIPAA forms.
The solution offers deployment flexibility as SaaS or on-premises with microservices-based architecture for cloud scalability. Success stories show extraction accuracy ranging from 94.09% to 99.99% across various document types including invoices, bank statements, purchase orders, driving licenses, and HIPAA forms.
Datamatics pricing
Pricing model: Freemium
TruCap+ operates on custom pricing - customers must speak to sales for pricing details. The solution comes in two versions: TruCap+ (classic) for semi-structured documents and TruCap+ GenAI for unstructured documents. Both versions are available as SaaS with high scalability. Flexible pricing models provide options depending on business requirements, ranging from thousands to millions of documents. Transparent pricing ensures business value with options to add greater page volumes if needed. No free tier is available, but a free trial is offered through booking a demo.
Datamatics pros
- Template-free approach reduces setup time by 30-70%
- GenAI version achieves 90%+ field-level accuracy
- Classic version achieves 75%+ field-level accuracy
- Go-live in production in 2-4 days with GenAI version
- Go-live in production in 2-4 weeks with classic version
- Multi-OCR convergence for better accuracy
- Supports unstructured, semi-structured, and structured documents
- Natural language querying and contextual querying capabilities
- Co-pilot for document ontologies using GenAI
- Seamless integration with TruBot and other RPA products
- Handles multilingual documents and handwritten documents
- Extracts data from barcodes, QR codes, photos, and signatures
- Browser-based access with intuitive GUI for business users
- SaaS or on-premises deployment flexibility
- Enterprise-grade security with role-based access
- Continuous auto-learning using AI/ML algorithms
- Pre-built AI/ML capabilities and business rules for automated verification
- Higher percentage of straight-through processing (STP)
- REST API for upstream and downstream integration
- Analytics & dashboard for real-time insights
Datamatics cons
- Custom pricing requires contacting sales team - no transparent pricing listed
- Classic version has high effort required to train AI models
- Classic version only handles semi-structured and structured documents
- Classic version accuracy starts at 75%+ which may require manual review
- Initial financial investment can be substantial for smaller businesses
- GenAI version depends on public LLM for auto-learning
- Human-in-the-loop still needed for exception handling
- Very high complexity documents require GenAI version not classic version
- No free tier mentioned - only free trial available
Frequently asked questions about Datamatics
What is TruCap+ IDP solution?
TruCap+ is Datamatics' proprietary product for Intelligent Document Processing that is AI/ML powered, template-free, and multi-OCR enabled. It enables straight-through processing even in paper-driven environments and learns continuously with each exception handling to progressively provide intelligent output. It is a low code/no code intelligent document solution that integrates with upstream and downstream applications via APIs and RPA products.
What is the difference between TruCap+ and TruCap+ GenAI?
TruCap+ classic is best suited for semi-structured documents with moderate complexity like invoices, purchase orders, and bank statements, with 75%+ accuracy and 2-4 weeks go-live. TruCap+ GenAI handles complex and unstructured documents like contracts, legal documents, financial statements, medical images, and emails, with 90%+ accuracy and 2-4 days go-live. GenAI uses public LLM for auto-learning while classic uses machine learning/self-learning.
What does template-free mean in TruCap+?
TruCap+ uses AI/ML algorithms and fuzzy logic to ascertain the position of data elements in documents with very high accuracy without requiring templates. This reduces operation and maintenance costs, reduces setup time by 30-70%, and delivers faster time-to-value compared to traditional IDP solutions that require creating and maintaining multitudes of document templates.
What accuracy can I expect from TruCap+?
TruCap+ classic achieves 75%+ field-level accuracy depending on input document quality and use cases. TruCap+ GenAI achieves 90%+ field-level accuracy. Success stories show extraction accuracy ranging from 94.09% to 99.99% across various document types including invoices (94.09-96.69%), bank statements (99.99%), purchase orders (99.55%), driving licenses (97.18%), and HIPAA forms (99.71%).
How long does it take to implement TruCap+?
TruCap+ classic takes 2-4 weeks to go live in production with high effort required to train AI models. TruCap+ GenAI takes only 2-4 days to go live in production with low effort required to train AI models. The template-free approach and TruPilot for creating ontologies in a breeze enable faster go-live in days not weeks.
What document types can TruCap+ process?
TruCap+ classic handles semi-structured and structured documents like invoices, purchase orders, and bank statements. TruCap+ GenAI handles unstructured, semi-structured, and structured documents including contracts, legal documents, financial statements, medical images, drawings and graphs, emails, driving licenses, HIPAA forms, and subrogation forms. It also supports multilingual documents, handwritten documents, and extraction from barcodes, QR codes, photos, and signatures.
Can TruCap+ integrate with my existing systems?
Yes, TruCap+ offers seamless integration with upstream and downstream applications via REST API. It integrates with TruBot and other leading RPA products to achieve end-to-end automation. The platform supports multichannel data processing and can hyperautomate processes even in paper-driven environments by overcoming swivel chair operations with legacy systems, ERP, and cloud systems.
Is TruCap+ cloud-ready?
Yes, TruCap+ is cloud-enabled and can be easily deployed on the cloud which extends its use and reach extensively. The microservices-based architecture offers greater flexibility and scalability, and the horizontally scalable solution is purpose-built for cloud deployment. Customers can use it as SaaS or deploy on-premises depending on their organization's requirements.
What is straight-through processing (STP) and how does TruCap+ improve it?
Straight-through Processing (STP) is the electronic capture of unstructured, semi-structured, and structured data for end-to-end transaction processing. TruCap+ facilitates end-to-end automation of enterprise processes with higher accuracy and without manual intervention, directly impacting STP. The cognitive capabilities deliver a greater percentage of STP with higher accuracy, reducing manual effort and saving time. This improves enterprise-level STP and can improve transaction time from minutes to seconds.
Is there a free trial available for TruCap+?
Yes, TruCap+ offers an Enterprise Free Trial. Customers can book a demo and get a free trial of the AI-powered, template-free Intelligent Document Processing solution. The free trial is available through TruCap+ Marketplace. However, there is no permanent free tier - only the trial option before purchasing either the classic or GenAI version through custom pricing.