EVERGREEN, Colo. — Freight Processing Outsourcing firm DDC FPO says it has developed a new auto-extraction and structuring solution for freight as part of its platform of supply chain services and products.
“Today, companies are inundated with a staggering 80% to 90% of unstructured data,” said DDC FPO Chief Information Officer Richard Greening. “Every label or form is unique. While there may be some standardization, the vast amount is free form. That 80-90% slows down operations. We are committed to removing that burden from our clients’ teams.”
According to a news release, the newest addition engages automated machine learning technology.
DDC FPO officials say they use it “to cleanse and structure raw data from freight documents into vital information, applies client business rules and transmits information via APIs to the client’s preferred system — all within seconds of receipt.”
The solution also intelligently learns with each document it processes, which allows it to have continuous refinement of the solution’s capabilities.
“Data and analytics are central to every freight operation, and optimizing for digitization is key for those providers pursuing a competitive advantage in the supply chain,” Greening said. “To achieve that, one step is to ensure TMS and accounting systems obtain structured information at the time of pick-up.”
Auto-extraction and structuring “delivers precise and timely data seamlessly to customers’ preferred information management systems,” the news release stated.
According to DDC FPO, some benefits include:
- Addressing the challenge of consolidating data from diverse sources, including emails, PDFs, images, invoices, paper files, contracts, and more.
- Providing superior service by proactively routing shipments, optimizing capacity, and invoicing customers accurately.
- Increasing profitability by streamlining collection processes and reducing administrative time, errors, and costs.
- Continuous improvement and growth by intelligently learning with each document for ongoing refinement and increased speed without human intervention.
“We are dedicated to advancing the supply chain and modernizing the industry,” said DDC FPO’s Group Chief Executive Officer, Jan Trevalyan. “Auto-Extraction & Structuring is fueled by DDC FPO’s 34 years of data capture experience, 18 years of freight expertise, and proprietary, cutting-edge technology.”
Trevalyan added, “With this solution, we are laying the foundation for true digital transformation in freight transportation.”
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