Technological Breakthrough Saves Time and Increases Performance
ReposiTrak, Inc., the industry leader in compliance, food safety and risk management for the retail supply chain, has enhanced its Optical Character Recognition (OCR) capabilities and added Artificial Intelligence (AI) to its compliance management system for improved automated document review accuracy. These new features enable a higher level of automation that will deliver even more time savings in reviewing and accepting documents for compliance.
“With this added capability, we have solid confidence the data from any document entered into the system more accurately reflects the intended purpose, preventing mistakes, oversights or intentional uploads of non-compliant documents”
As a result of the new functionality, suppliers can readily submit image-based documents and picture files such as jpegs directly for uploading into ReposiTrak’s cloud-based compliance management system. The OCR engine in ReposiTrak converts a document image into text and then scans the text to determine whether it’s an acceptable form. An Artificial Intelligence engine then finds the relevant information and performs a verification check. Proprietary algorithms finally adjudicate whether the document meets the user’s compliance requirements.
“With this added capability, we have solid confidence the data from any document entered into the system more accurately reflects the intended purpose, preventing mistakes, oversights or intentional uploads of non-compliant documents,” explained Jozef Jamrich, CTO of ReposiTrak.
Collection of compliance documents has grown as ReposiTrak’s compliance management network has more than 85,000 points of connections between retailers, wholesalers and suppliers. Customers have specific requirements for each of their suppliers and the number compounds to thousands of hours spent manually reviewing documents.
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“These new features demonstrate our continued commitment to being the leader in technology for automated compliance systems,” said ReposiTrak CEO Randy Fields. “It will save companies even more time in collecting documents from their suppliers and at the same time make it easier to ensure they’re getting the right documents.”
The ReposiTrak Speed Retail Platform drives growth and supports all supply and demand chain activities for retailers, manufacturers, and their trading partners, consisting of three product families; Compliance & Risk Management, Supply Chain Solutions, and MarketPlace Sourcing and B2B Commerce. Delivered via one technology platform, all the applications are mutually reinforcing and work synergistically to create value and positive impact across the entire enterprise.