Sypht is made even better by Validate, a human-in-the-loop validation product which allows a human to review and amend the extractions which Sypht makes and take accuracy to 100 percent. “Our solution allows us to extract data from documents with higher performance, superior speed and accuracy, and an ability to tackle complex document types. This makes our solution highly versatile in addressing all inefficiencies across organizations relating to document extraction and interpretation,” states Billington.

What is more, Sypht’s technology is made widely available through a cloud-based API solution without the need for hosting or expensive infrastructure and maintenance. “Sypht’s unique solution can help remove tedious tasks from the workplace and allow employees to devote time to higher value tasks and leaders can guide their organizations to greater growth with information now at their fingertips,” says Billington.

In one instance, Sypht partnered with MYOB, a leading online accounting platform in Australia and New Zealand to further MYOB’s continued investment into the application of machine learning to document extraction and data extraction. Sypht’s capabilities are helping MYOB’s customers easily, quickly, and accurately extract vital information from their invoices and receipts and seamlessly upload it onto the MYOB platform.

Sypht successfully completed a proof of concept with MYOB and demonstrated up to four times faster prediction speeds and human-level accuracy compared to existing market offerings. Sypht’s integration into MYOB’s platform allows MYOB to demonstrate their commitment to looking for new ways to innovate and ensuring that their customers have the tools and options they need to reduce time spent on manual admin tasks and deliver their own business success.

The company has a carefully plotted roadmap for adding new features including support for a broader range of document types, integration between a human-machine interface with existing enterprise systems, document splitting and classification, de-identification, as well as real-time learning. At the same time, Sypht is currently supporting several large-scale commercial deals in the Australian market and looking to expand globally by pursuing several POCs across international markets in the U.S., Europe, and the Asia Pacific. “There’s a lot more to come. Organizations that invest in AI such as Sypht as part of their digital transformation journey will be able to take advantage of this new technology and experience immediate benefits,” says the CEO.