Google is giving accounts departments a reason to rejoice with recent updates to its Document AI tool. The new features make it even easier to streamline time-consuming and labor-intensive finance administration tasks such as payroll and tax filings.
The tool promises to deliver not just operational efficiencies and cost-savings but also improve customer and employee experience by providing faster and more accessible service.
What is Google Document AI?
Document AI extracts data from documents and can analyze, search, and store this data as needed.
No more hunting through files, painstakingly making records from dozens of different documents, or manually inputting numbers until your head spins - the AI tool does the grunt work for you, efficiently and accurately pulling all the information you need in a matter of minutes.
The time-saving tool can be deployed across multiple types of documents - from payslips to invoices and contracts to identity cards - taking the headache out of manual admin tasks that swallow up so much of your accounting and HR departments’ daily schedule.
“Document AI, in a nutshell, turns unstructured content into business-ready structured data,” says Sudheera Vanguri, Head of Product, Google Cloud.
Document AI Workbench
Since it was first introduced, Google has been refining Document AI to better tailor it to individual business needs. Last year, it announced the launch of Document AI Workbench - a newer version that allows organizations to customize the tool with their own data and models.
The flexible and easy-to-use application now includes pre-trained models specifically designed for completing W2 forms and payslips. These new and improved models can now handle a wider variety of forms and more complex codes and values.
The automated AI can capture information relating to bonuses, commissions, holidays, overtime, regular pay, and vacation, as well as state and federal tax exemptions, and filing statuses.
Models can be used as out-of-the-box solutions or further tweaked to reflect new information or data fields.
Google says its W2 and payslip models are already making a difference to clients, adding that automation firm Gateless has been able to boost performance on pay stubs by 48% and performance on W2s by 15% using the technology.
If you’re interested in streamlining your processes with Document AI or any of Google’s cloud-based applications and tools, contact the experts at UpCurve Cloud. Our team of Google-certified engineers, technicians, and consultants can advise you on the most suitable solutions for your business needs, train your staff on how to implement them, and seamlessly integrate them into your existing IT infrastructure. Contact us today to get started!
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