Technical FAQs

Far from just another tech industry buzzword, artificial intelligence (AI) is fast becoming a mainstay of data collection and analysis for many organizations. According to research by Accenture, not only do 84 percent of executives think leveraging AI is critical to meeting growth objectives, but three out of four of them believe they will risk going out of business if they don’t scale those initiatives.

That fear of being left behind is why 88 percent of companies have already invested in AI or machine learning technology or plan to do so in the near future. With some 175 zettabytes of data expected to be created in 2025, organizations without the AI data processing tools necessary to analyze and make sense of that data will struggle to develop effective business strategies and deliver a competitive customer experience.

It’s a tremendous opportunity for independent software vendors building the next-generation of applications across various industries. In order to deliver on the promise of AI, however, these software solutions also need to provide the tools that allow users to leverage their capabilities to streamline business processes. After all, a powerful AI solution isn’t of much use if it can’t be integrated with existing workflows.

Getting the Most Out of AI Data Processing

The most successful developers understand that AI data processing is only one piece of the puzzle. Their innovative AI technology is driving the car, but they still need the frame and wheels around it if the application is going to take their customers anywhere. That means building the less glamorous, but equally essential technology that helps AI data processing solve everyday tasks.

Take, for instance, document or image management. Organizations that gather data from physical forms or scanned documents need some way of extracting information so it can be converted into a format AI data processing tools can utilize. Manual data entry is both time-consuming and prone to error, so requiring users to transfer information by hand is simply not viable. By building document and image processing capabilities into their applications, developers can greatly enhance the versatility of AI data processing by automating key aspects of the collection process.

There’s also the question of what can be done with all of that data once it’s been gathered. Legal organizations, for example, often need to apply that information to contract creation, while insurance agents turn to it when assessing risk. By combining AI data processing capabilities with document assembly tools and search functionality, organizations can further automate key business processes to improve efficiency. Why painstakingly draft legal contracts or master service agreements from scratch when applications can use automation tools in conjunction with AI to assemble documents with greater speed and accuracy?

Build vs. Buy?

This often presents a challenge for software developers with limited resources. On the one hand, they need to invest as much time and energy as possible into their innovative AI data processing capabilities in order to meet the collection and analysis needs of their customers. But without also providing some way of interacting with and using that data to improve other key tasks, they will struggle to persuade potential users to adopt their innovative platform.

One solution is to build that functionality in-house. For software developers with substantial resources, this might sound like a good option. Unfortunately, the reality often proves less than ideal. Even something as basic as viewing and converting documents can quickly become a massive undertaking that draws valuable developer resources away from the AI data processing capabilities that are supposed to help the product stand out in a crowded market. 

In many cases, the company ends up having to outsource the work or push back key deadlines. Even worse, it may also end up creating more problems than it solves by relying on open source toolkits and libraries. The biggest problem has to do with security vulnerabilities. A recent study found over 2,600 bugs reported in open source projects between 2015 and early 2020. Even worse, many of these vulnerabilities were not formally reported to the National Vulnerability Database (NVD) until well after they were first exposed, giving hackers and other hostile actors time to exploit the security gaps.

The Integration Solution

Developers can avoid delays and security risks by turning to proven SDK and API integrations for their application needs. This is especially effective for complex, but essential functionality like viewing, conversion, compression, editing, and assembly. By relying on code-based integrations that are actively supported, they can ensure that users will be able to leverage their AI data processing solutions securely and effectively.

Rather than building features from the ground up and wasting valuable development resources, independent software vendors can devote more time and energy on the core competencies that will make their application more competitive. That allows them to build more powerful AI data processing capabilities and bring those features to market even faster.

Enhance Your AI Data Processing Application with Accusoft Integrations

Accusoft’s family of SDK and API integrations helps software developers realize the potential of their applications by delivering proven document and image processing functionality. Whether you need document assembly tools to get the most out of your legal AI sifters or powerful HTML5 viewing capabilities to harness the power of risk management automation, our easy-to-implement, code-based integrations can help you realize the full potential of your application’s AI data processing.

Find out more about how the Accusoft development team is incorporating machine learning into their processes or talk to one of our integration specialists today to learn how we can enhance your AI data processing application.

Legal organizations faced tremendous challenges in 2020 due to the impacts of COVID-19. Firms and departments rapidly transitioned to remote work environments and were forced to rely upon their established technology resources more than ever before. While the industry fared better than many others, the experience has caused organizations to rethink their longstanding business models and workflow processes. As firms consider what steps to take in 2021 and beyond, LegalTech developers must be closely attuned to the pressures informing those decisions so they can provide the software to support automation in law firms.

The research firm Gartner provided a glimpse into those pressures in a 2020 survey focused on legal spending trends. Their findings reveal an industry in transition as legal organizations increasingly work to expand their internal capabilities, improve legal document automation, and reduce reliance on outside spending. LegalTech developers are uniquely positioned to facilitate this inward turn with versatile legal workflow automation software.

Turning Weaknesses Into Strengths

The COVID-19 pandemic forced law firms and legal departments to take notice of organizational shortcomings that often escaped notice in previous years. According to Gartner research, the biggest area of concern was by far technology solutions. Some organizations found themselves saddled with legacy systems that lacked the robust feature set of modern LegalTech applications. Others, however, wisely made the investment in new software over the last decade, but those systems have not been fully adopted by legal personnel. This echoes the results from a 2020 Accusoft survey that found over 40 percent of firms are still relying on inefficient manual processes for document assembly, discovery, signature gathering, redaction, and contract management. 

For LegalTech developers, these twin shortcomings present a tremendous opportunity. Legal organizations will be in need of technology solutions that help them to automate low-value tasks and enhance collaboration capabilities while also looking to secure broader acceptance and buy-in from employees. That means delivering a streamlined, intuitive user experience will be every bit as important as integrating the latest legal workflow automation software.

Identifying Opportunities

The LegalTech market is a diverse and rapidly growing field that consists of multiple technology solutions. Gartner’s 2020 research into legal organizations offers a helpful snapshot of how far these firms and departments have to go when it comes to legal technology adoption and automation in law firms:

• E-Billing: 48 percent
• Contract LIfecycle Management: 44 percent
• Document Management: 40 percent
• eDiscovery: 33 percent
• Records Management: 28 percent

Although overall legal spend did not change substantially from 2019 to 2020, the pandemic has caused firms to shift resources away from outsourced services and toward their in-house capabilities. With nearly a third of organizations looking to accelerate their technology, there are significant opportunities for LegalTech developers to deliver efficient and cost-effective solutions. Contract automation tools, document management platforms, and eDiscovery applications will all be in high demand thanks to their ability to help firms enhance their productivity and scale services in a sustainable fashion.

Improving Implementation

Understanding the work culture and processes of a legal organization is critical to any successful technology implementation. Without that knowledge, developers can end up building a solution that doesn’t meet a customer’s needs or is too removed from existing workflows to be easily adopted. This problem was quite pronounced in the early days of LegalTech software, when many legal professionals still had doubts about the usefulness of technology.

Communication between developers and legal departments is quickly improving, however. From 2018 to 2020, the number of organizations with a legal operations manager in place increased by 75.8 percent. In 40 percent of firms, that role is filled by a non-lawyer who is better equipped to facilitate conversations between software developers and internal stakeholders.

LegalTech developers can use this channel to get a better idea of how they can implement solutions like legal document automation through an organization’s existing technology stack with minimal disruption. They can also begin to address specific internal pain points and match those needs to the right software integrations to round out their application’s functionality. Versatile SDK and API integrations will play a crucial role in meeting these needs because developers may have to build out customized feature sets to provide the ideal capabilities.

Doing More with Less

Developers with the ability to build out customizable, flexible software applications can also help legal customers to eliminate redundant or outdated solutions they already have in place. There’s no reason for a firm to rely on one program for assembling documents, another for viewing and redlining them, and yet another for redacting them to protect privacy. With the right software integrations, LegalTech developers can build core productivity features into their platforms quickly and easily. They can then offer a comprehensive solution that solves multiple customer needs and allows them to incorporate more of their workflows into a comprehensive, secure application environment.

This consolidation of LegalTech capabilities will continue to be important as all but the largest legal organizations transition toward a more customer service-oriented business model that emphasizes competitive, transparent pricing and “off-the-shelf” legal services. Legal collaboration will increasingly expand to include the firm’s clients, which makes the adoption of easily-accessible web applications more important than ever. An ideal LegalTech solution will allow legal teams to share information easily, quickly, and securely with people inside and outside their organization. Developers can build the applications that make this possible, ushering in a new era of transparency, collaboration, and efficiency that will help firms continue to grow.

Choosing the Right Integrations

Accusoft’s collection of SDK and API integrations have long helped LegalTech developers incorporate the powerful features their customers are looking for into their applications. By turning to contract assembly tools like PrizmDoc Editor or the legal document automation capabilities of Barcode Xpress, software teams can quickly implement core functionality while dedicating the bulk of their resources to building innovative new features that will set their product apart in a crowded market. 

The benefits of selecting the right integration partner are particularly evident when looking at eDiscovery applications. Developing a comprehensive LegalTech eDiscovery platform requires a wide-range of viewing, annotation, comparison, conversion, search, and redaction options. Building those features from scratch can extend development timelines by months, which could potentially cost a software developer their chance to break into a highly competitive market. With an API integration like PrizmDoc Viewer, however, they can rapidly integrate proven features into their application to help deliver better performance to customers while also getting to market faster and saving valuable resources that may be needed elsewhere during the development cycle. 

To learn more about how Accusoft’s family of SDK and API integrations can transform your LegalTech application and improve automation in law firms, have a look at our LegalTech Fact Sheet and match the right solution to your development needs.

The financial industry has made significant investments in document lifecycle management solutions to enhance their productivity, accuracy, and flexibility. There is broad recognition that paper-based processes are a huge source of waste and inefficiency, but simply transitioning away from paper often isn’t enough on its own to achieve true digital transformation. That’s because performing a digital-based process manually still presents many of the same problems. In order to leverage the true benefits of digital document management, FinTechs need to implement data capture and document generation capabilities as part of a broader process automation solution.

A Quick History of Data Capture & Document Generation

To understand how FinTechs can use data capture and document generation technology to enable their digital transformation, it’s helpful to take a moment to understand the history of these tools and how they’ve developed since their origins.

Data Capture

The financial industry was an early innovator in data capture technology with the development of the specialized OCR-A font in the 1960s. This simple monospace font is still used today for the account and routing numbers on an ordinary bank check. Early data capture technology relied on pattern recognition, so an exact pixel match was needed to read the characters electronically and match them to a corresponding character in a font library. While this worked well enough for scanning printed bank checks into a computer system to track transactions, reading anything else on the check with an automated system required further developments in data capture tools.

Modern character recognition technology utilizes a more sophisticated feature detection approach that uses the component elements of each character to distinguish them from one another. An “A,” for example, usually consists of the same basic elements (two angular lines that come to a point with a horizontal line crossing them) regardless of the font used. Breaking characters down into their component elements has even made it possible for software to read handwritten characters as well as machine-printed text.

Document Generation

Document generation technology emerged in the 1970s in the form of document assembly, which was originally used by lawyers to streamline contract creation. Contracts are highly structured and rules-oriented, which made it easy to build a decision-tree logic that could be understood by the software tools of that era. Early document assembly programs used a collection of document templates that incorporated conditional fields the software could replace automatically each time it generated a contract.

Modern document assembly is typically used as part of a more robust document automation solution. Software extracts information from a database and inserts it into a template to generate unique documents quickly, easily, and accurately. These programs are much more sophisticated and flexible than early document assembly tools, allowing organizations to programmatically generate a wide range of documents without ever having to look at the contents prior to the final review process.

Data Capture & Document Assembly in FinTech Today

Despite being an early innovator in OCR technology, the financial industry has been slow to implement more robust data capture capabilities throughout their operations. According to a recent study, 63% of banks are still collecting information from documents manually, a process that’s not only time consuming, but also incredibly prone to error. They’ve been slightly faster to adopt document generation, with 49% of banks still relying on manual processes to create documents. 

Ironically, FinTech organizations are even more dependent upon manual practices than traditional banks. When it comes to data capture, 75% of FinTechs are reviewing documents and entering their data manually rather than using an automated solution. The story is largely the same for document generation, as 79% of them are still creating documents manually.

Understandably, most of these organizations are planning to implement some form of automated data capture and document generation solution within the next two to three years. That’s because they recognize that it will be difficult to achieve true digital transformation without them.

Why Data Capture and Document Generation Are So Important for FinTech

FinTech companies have developed a wide range of innovative financial tools that allow consumers to take better control of their finances and help organizations manage their resources more efficiently. In order to deliver those streamlined solutions, however, FinTechs need to have the capabilities in place to make their own processes more efficient.

Data capture and document generation work together to help these organizations maximize the value and potential of their document management systems. Financial information can be submitted in many different formats, ranging from digital forms and fillable PDFs to images, flattened PDFs, and scanned documents. Extracting information from each of these formats requires a sophisticated understanding of data capture that few software developers possess. 

Once that data is extracted, it can be routed anywhere it’s needed by workflow automation tools. That could be a new document that’s being generated, but more often it will be sent to a database. When the time comes to generate a new document, previously captured information can be inserted wherever it’s needed programmatically. Multiple documents (or just sections of them) can also be merged or split apart to create entirely new ones filled with information drawn from several sources.

All of this can be done in a matter of seconds with the right software integrations, which saves a tremendous amount of time for FinTech teams who have many other priorities to focus on. By incorporating robust data capture and document generation capabilities into their platforms, they can provide faster, better functionality to their customers. Rather than uploading a document and waiting for it to be processed, information can be extracted and routed wherever it’s needed instantly to facilitate faster reviews and resolutions.

Another key benefit of data capture and document generation is accuracy. Between manually reviewing information, entering it by hand into a system, and then retrieving it to create new documents, there are plenty of opportunities for mistakes to be made. In a financial context, those errors often have the potential to be systemic, creating additional errors that are time consuming and expensive to remediate. Automated extraction and assembly remove the risk of human error, which enables FinTechs to accelerate and scale their processes more effectively.

Integrating Data Capture and Document Generation with Accusoft

For over 30 years, Accusoft has been a pioneer in building software integrations that expand application functionality. We provide a variety of data capture and document generation solutions that meet the needs of today’s FinTech platforms. Whether you’re incorporating functionality directly into your application with an SDK or deploying a cloud-based solution that connects to one of our APIs, we have the flexibility to help you integrate the features you need to complete your digital transformation.

To learn more about how Accusoft can enhance your FinTech application with data capture and document generation, talk to one of our solutions experts today.

It doesn’t matter if you are a small startup or an enterprise giant, or if you have in-house development teams or contractors. The effectiveness of your tech teams is an integral part of your business success and strategic growth.

We live in a world driven by technology, and technology is changing fast. Companies can’t escape this reality. It’s either evolve with technology or become extinct. Don’t take my word for it. Think about the evolution of technology in industries like transportation (Uber), retail (Amazon), and video (Netflix). You can try to escape reality, but you will probably fail.

One of the first things that comes to mind when talking about software development teams is to ask if teams are absolutely necessary. Can’t we rely on individual tech professionals instead of teams working for our companies? Maybe the whole is not more than the sum of its parts?

The fact is that, in general, teams outperform individuals. When people work in a team toward a common goal, they combine their skills. In a team, individual performance increases, and people are able to solve more complex problems, efficiently and effectively.

My name is Joshua Candamo. I’m a technology leader with a PhD in computer science. My background is pretty diverse, and includes considerable experience programming as well as over 14 years of technology leadership.

I am currently a Director of Development for Accusoft, a software development company specializing in content processing, conversion, and automation solutions. My engineering group collaborates with about 40 people including in-house software developers, offshore contractors, technical writers, product management, quality, marketing, and sales professionals.

I want to share what I’ve learned from my personal experience of building development teams over the last 14 years, and a few useful tips to doing so successfully.

Without further ado, let’s talk about the three simple things that I found can make or break development teams.

To get started, let’s point out the obvious. Don’t fight nature; embrace it.

If you try to plant a rose in the middle of the desert, it will most certainly die.

You can’t fight nature. However, if you understand nature, you can embrace it and make decisions that align with it.

You can simply build a greenhouse in a harsh environment and succeed at growing a rose pretty much anywhere. Using the same logic, there are some foundational pieces that you have to anticipate in order to build a successful team. Avoiding basic considerations of team building will likely make your development team fail or underperform.

Team building is a broad and complex topic. And, it’s also a topic that I’m passionate about. Not everything around team building is complicated. However, most initiatives require a methodical approach to correctly execute them.

I’ll go over three ideas that are straightforward to implement, and don’t require major capital investment. Learn more in the rest of my article here.

Today’s customers expect more of software applications than ever before. Piecemeal solutions that provide only a few noteworthy features are quickly being overtaken by more comprehensive platforms that deliver an end-to-end experience for users. This has prompted developers to incorporate more capabilities, while also building innovative features that set their solutions apart from the competition. Thanks to third-party software integrations, they’re able to meet both demands.

What is Third-Party Software Integration?

Third-party software integrations typically come in the form of SDKs or APIs that provide applications with specialized capabilities. Rather than building complex features like optical character recognition (OCR), PDF features, or image cleanup from scratch, developers can instead incorporate the necessary features directly into their software via an SDK or use an API call to access capabilities without expanding their application’s footprint.

From a user experience standpoint, third-party software integrations allow developers to build more cohesive software solutions that provide all the essential features a customer may require. Instead of pushing them into a separate application to interact with documents, provide a signature, or fill out a digital form, they can instead deliver an unbroken experience that’s easier to navigate and manage from start to finish.  

4 Key Third-Party Software Benefits

There are a number of important benefits organizations can gain from using third-party software integrations, but four stand out in particular:

1. Reduce Development Costs

When evaluating whether it makes sense to build functionality for an application in-house or buy a third-party software integration, cost is frequently one of the key considerations. There is often a tendency to think that it would be more cost-effective to have developers already working on the project simply build the capabilities they need on their own. After all, there’s no shortage of open-source SDKs and other tools that are available without having to pay licensing or product fees.

In practice, however, this approach usually ends up being more expensive in the long run. That’s because the developers working on the project often lack the experience needed to build those capabilities quickly. A software engineer hired to help build AI software, for instance, probably doesn’t know a lot about file conversion or annotation. While they might be able to find an open-source tool to build those features, they still need to do quite a bit of development work and on-the-job learning to get the new capabilities stood up and thoroughly tested. 

Focusing on these features means they’re not focusing on the more innovative aspects of their application. From a cost standpoint, that means they’re being paid to build something that’s already readily available in the market. When these internal development costs are taken into account, it’s almost always more cost effective to buy ready-to-implement software features built by an experienced third party. As the saying goes, there’s no reason to reinvent the wheel. 

2. Get to Market Faster

Software developers are always working against the clock. With new applications hitting the market faster than ever, there’s tremendous pressure to keep development timelines on track and avoid missing important deadlines. This helps projects stay within their expected budgets and prevents potential competitors from getting to market faster. Any steps that can be taken to accelerate development and potentially shorten the timeline to releasing a product could mean the difference between becoming an industry innovator or being labeled as an also-ran.

Third-party software integrations allow developers to quickly and seamlessly integrate essential capabilities into applications without compromising their project timeline. Rather than building features like forms processing, document annotation, and image conversion from scratch, teams can instead use third-party SDKs and APIs to add proven, reliable, and secure features in a fraction of the time. By keeping projects on or ahead of schedule, they can focus on delivering a better, more robust product that exceeds customer expectations. 

3. Expand Application Features & Functionality

Software development teams typically possess the experience and expertise needed to build the core architecture and innovative features of a new application. In many cases, they’re designing something novel that will provide a point of differentiation in the market. The more time they can spend on refining and expanding those capabilities, the more likely the application is to make an impact and win over customers.

What these developers often lack, however, are the skills needed to implement a variety of other features that will enhance the application’s functionality. Features like document conversion, OCR, PDF support, digital forms, eSignature, and image compression are complex and difficult to build from scratch. By integrating third-party software, developers can leverage proven, feature-rich technology to expand their application’s capabilities. This not only allows them to improve their solution’s versatility but also enhance the overall user experience by eliminating the need for external programs or troublesome plug-ins. 

4. Access Specialized Engineering Support

Incorporating features like PDF support, image conversion, and document redaction into an application poses several challenges. Some of those challenges don’t show up right away, instead, they become evident long after a software product launches. If the developers don’t have a lot of experience with the technology behind those features, minor issues can quickly escalate into serious problems that leave customers unhappy and willing to look elsewhere for alternatives. No organization wants to be caught in a situation where a bug embedded in an open-source tool renders a client’s valuable assets unusable.

By leveraging proven, tested, and secure third-party software integrations, developers gain access to support from experienced engineering teams with deep knowledge of their solutions. In addition to documentation and code samples, they can also speak directly with developers who can provide guidance on how to best integrate features and resolve issues when they emerge. The best integration providers will even work with organizations to customize their solutions to meet specific application needs, which helps create even smoother user experiences and enhances reliability.

Integrating Third-Party Software with Accusoft

For over 30 years, Accusoft has helped organizations add essential features like barcode recognition, file conversion, document assembly, and image compression to their applications through an innovative line of SDKs and APIs. Our document lifecycle technologies are backed by multiple patents and have been incorporated successfully into a wide range of applications. Our dedicated engineers provide ongoing support and work closely with customers to implement their specific use cases, ensuring that their software platform is delivering the best possible experience.

To learn more about integrating third-party software with Accusoft SDKs and APIs, talk to one of our solutions experts today.