Document processing has been a corporate goal for thirty years. Until recently, accuracy collapsed on anything that was not a perfectly formatted invoice. That changed in the last two years.
What a modern stack looks like
- Layout-aware OCR that preserves bounding boxes and reading order.
- A schema definition for each document type.
- A large language model that maps OCR output to the schema with reasoning.
- A human-in-the-loop console for low-confidence extractions.
Where the value lands
Claims adjudication, accounts payable, mortgage operations, and onboarding KYC are the highest-ROI use cases we see. Straight-through processing of 80%+ of documents is realistic; the remaining 20% gets a faster human review.
About the author. This article was written by the consulting team at Algorithm, Inc, a U.S.-based software development and digital transformation firm headquartered in Dublin, Ohio. To discuss how these ideas apply to your environment, contact us.