By Dharmarajan Sankara Subrahmanian, Founder & CEO, Impactsure Technologies. Read Dharmarajan Sankara Subrahmanian's full executive profile here.
In an era of data, e-commerce and digital payments, B2C and B2B2C transactions have witnessed a transformative surge in customer experiences. Whether booking a cab, ordering a pizza or making a seamless payment through UPI, simplicity and convenience reign supreme.
A significant reason for this gap lies in transactions. B2C transactions, like hailing a ride or ordering food, involve minimal paperwork or compliance requirements. On the other hand, B2B transactions revolve around complex business processes, necessitating extensive documentation. The crux of the issue lies in the tedious and time-consuming nature of compliance-driven document processing, which hampers instant gratification for customers. Let's delve into trade documentation, which includes manual form-filling, error-prone data entry and precise tracking of shipped goods. Remarkably, even global logistics giants rely on antiquated manual processes, from my experience.
Solutions based on AI, machine learning , neural networks and natural language processing work within secure environments to scan, process, classify and extract unstructured and semi-structured data from various file formats including notes.
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