Retarus Press Release
Retarus Announces Enhanced Intelligent Document Processing
High-end IDP solution for supply chain processes provides higher accuracy, scalability, effective master data validation and greater transparency
Munich, 06.11.2024 // Retarus announces a major update to its Intelligent Document Processing (IDP) solution. This update fully automates purchase-to-pay and order-to-cash processes and facilitates efficient and reliable communication throughout the supply chain. Retarus IDP enables rapid support at scale for new use cases by leveraging continually updated AI models that adapt to specific document types.
Automated processing of business documents streamlines cashflow and reduces costs by approximately 60% compared to manual order processing. Built on state-of-the-art, multimodal AI technologies and featuring human-in-the-loop (HITL) controls, Retarus IDP achieves up to 100% accuracy. Risks along the supply chain process, such as returns and delays, can be reduced significantly.
Customers can tap into more than 20 years of Retarus EDI expertise to automate transactional data flows across decentralized ERP systems across countries and regions. The combination of Retarus IDP and EDI Services enables customers to transfer mission-critical information into ERP systems, irrespective of whether the underlying data was captured by scan, email or fax.
Recognition of complex data structures
Retarus IDP combines AI-based technologies such as machine and deep learning, computer vision and natural language processing (NLP) to maximize recognition rates – even in the case of complex document structures such as images or tables. In addition, advanced text and semantic analysis ensure fast multilingual document processing.
Ready-to-use models and proprietary custom models allow customers to easily add document types for additional use cases. Customers benefit from fast onboarding and implementation within days, not weeks. Retarus’ IDP solution offers out-of-the-box accuracy levels of 70% without training.
Powerful reporting
According to Matt Arcaro, Research Director, Computer Vision and AI at analyst firm IDC: “Meaningful reporting that delivers transparency is critical to overall success. Retarus’ approach, which centralizes the handling and routing of messages between touchpoints, applications, and regions, while providing an intuitive reporting dashboard, will help business users maintain oversight and ensure they can track progress transparently end-to-end.”
Retarus IDP is fully configurable. Its powerful analysis and reporting tools are intuitive and user-friendly. Document processing status overviews, including detailed performance indicators, are provided in real-time via a comprehensive and easy-to-navigate dashboard.
Automated validation of master data
Retarus IDP automatically validates and verifies data captured through text recognition. Newly inbound data is reviewed and reconciled against a customer’s master data. In cases of discrepancy, cases are flagged to the HITL, resulting in a higher degree of automation and improved straight-through processing rates while optimizing the data quality sustainably.
Flexible API integration and partner readiness
Retarus IDP leverages open standards and connectors, allowing seamless integration into the most popular IT environments, including SAP S/4HANA, Oracle Order Management, Microsoft Dynamics 365 and Salesforce. Partners can include Retarus IDP in their portfolios or integrate it directly to solution blueprints.
Availability
The Retarus IDP Solution is obtainable in the DACH region today and will become available in the US and further European markets during 2025.
About Retarus
Retarus is a global provider of API