AIIM 2007 "Carl E. Nelson" Best Practices Award Nomination Summary
In the first half of 2006, the Principal Financial Group partnered with SunGard EXP to address a NASD regulation requiring updating the investment suitability for Principal’s shareholders. The proposed solution was to implement SunGard EXP’s OCR product, EXP Capture. In this implementation, information from the Suitability form was captured and used to automatically update the shareholder’s information in Principal’s Broker / Dealer system.
This project integrated the components of document imaging, business process management, ICR/OCR (by
Peladon Software), and administrative record keeping systems. The integration of these components created a system that provided exceptionally efficient processing and full audit of each individual document to ensure compliance and reporting outlined within the regulation.EXP Capture Product Overview
EXP Capture is an add-on module for EXP AG (PowerImage). EXP Capture leverages multiple ICR/OCR engines and an intuitive 32-bit interface to provide quick, accurate forms processing. A set of Windows services and Web Services APIs provide integration with business and recordkeeping systems while the Capture component extracts data from the form and communicates this data as XML. These functions combine to provide straight through forms processing.
EXP Capture Performance
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The following performance numbers were gathered after several weeks of use in production. Initial OCR Character rate |
96.3% |
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OCR character correction |
0.6% |
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Characters manually keyed |
3.3% |