So Why Is Auto-extraction Of Data Required?ĭata extraction is very important to automate structured data collection for using it down the pipeline in analysis. Want to know more about the intricacies of data ingestion? Speak to our experts by filling out this form. Automated data extraction software helps finance companies automatically pull data from various sources, thus saving time and costs, and improve their data-driven decision-making processes. Despite this, many financial companies and finance departments in many companies continue with manual processes creating serious bottlenecks in the pipeline.Īutomated data extraction throws up data from a broad spectrum of sources such as invoices, emails, and contracts. But the sheer volume of data today means the process has to be automated. Data extraction – the process of converting semi or unstructured data into a more formal structure – is a vital requirement of this process.
