Company Registry Forms intelligent processing leveraging OCR and IDP capabilities
There are around 100 forms established by the Companies Registry (Hong Kong) - a government department under the Financial Services and the Treasury Bureau of the Government of Hong Kong for business registration and business management purposes.
All these forms have different business nature and serve different business needs in terms of governing the established business in Hong Kong. Just a few (most common) to mention:
- Form NAR1 - Annual Return;
- Form - Business Registration Ordinance;
- Form - Certificate of Incorporation;
- Form ND2A - Notice of Change of Company Secretary and Director;
- Form NAC3 - Statement of Revision of Financial Statements;
- Form NNC2 - Notice of Change of Company Name;
- Form NR1 - Notice of Change of Address of Registered Office;
- Form NSC1 - Return of Allotment.
The company registry forms are constantly being circulated in business-to-business, business-to-government relations and processing of these forms takes significant time by the respective parties. To elaborate more, financial, accounting and audit institutions such as banks, insurers, audit firms, accounting companies are involving a significant number of resources to process the forms by reading, capturing, verifying and processing the required data from the submitted documents. In the majority of the cases all of these operations are still manual and associated with significant operational risk and low operational efficiency. Businesses from other industries such as retail, manufacturing, logistics, telecommunication, facilitates management companies are also struggling not in less extent while processing these type of the documents as a part of its standard operational processes: suppliers, partners, vendors on-boarding / verification checks, etc.
Certainly, the companies could continue struggling with processing these forms manually by operating in the same way they used to, however it is useful to mention that current technologies available on the market are already capable to process intelligently these types of the documents (company registry forms) by replacing manual processing with cognitive automation.
Illustrative example of NR1 form processing:
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«elDoc» - enterprise level solution for end-to-end document workflow automation and intelligent document processing. «elDoc» is powered with cognitive technologies to be capable to process intelligently documents (scanned and digitally generated) to capture the required data by converting semi-structured and unstructured data to structured format for further processing and end-to-end automation.
About «DMS Solutions»
«DMS Solutions» is a Technology company delivering Intelligent Automation Solutions. «DMS Solutions» is a vendor of Intelligent Integrated Platform for Document Processing (IDP – Intelligent Document Processing) and Document Workflow Automation (BPM - Business Process Management) - «elDoc».
«DMS Solutions» is your professional implementation service partner in the field of Intelligent Automation and Advanced Robotic Process Automation. We leverage Computer Vision, Machine Learning, Artificial Intelligence to build a powerful digital workforce for your business to win on the market. «DMS Solutions» is a Gold Implementation Partner of UiPath, official re-seller of UiPath Products in Hong Kong and APAC and official certified Advanced Technology UiPath Partner in the field of intelligent document understanding (Intelligent OCR).