Ripcord and Oracle want to revolutionise Document Processing

Ripcord and Oracle have announced a partnership that combines Ripcord's Document Intelligence as a Service (DIaaS) with Oracle ERP products, promising to transform the way companies manage their documents and activate their data.

Ripcord's DIaaS provides intelligent document processing, transforming all documents into easy-to-access, action-ready data. The solution leverages robotic digitization, cloud-native, AI-powered intelligent document processing, and human-in-the-loop validation to securely deliver highly-accurate data that meets SLAs, with a lower total cost of ownership.

This approach ensures that all documents, including both paper and digital, structured and unstructured, are part of the data set and requires no resource-intensive development and implementation, making it easy to deploy and manage.

With the addition of Generative AI technology, Ripcord's DIaaS and Oracle's ERP solutions can streamline document processing, increasing speed and accuracy in accounts payable, invoice processing, back office automation, general legal, and HR, and improve the data in their Oracle ERP.

Ripcord's DIaaS complements Oracle's ERP solutions, including Fusion, Ebusiness suite, PeopleSoft, and JDE, offering integration that feeds document intelligence into any line of business. Accounts payable, invoice processing, back-office automation, general legal, HR, and more will all benefit from automated document processing and improved data accuracy.

“Data extracted through an Intelligent Document processing (IDP) solution often needs to be ingested into multiple downstream applications or systems such as ERPs, CRMs, and ECMs to appreciate the true benefits of automation,” said Vaibhav Bansal, Vice President at Everest Group. “Pre-built integrations of IDP solutions with these applications and systems can expedite the implementation process, reduce complexity, and streamline the process and data workflows.”