Companies around the world rely heavily on documents to store and convey information. This information often needs to be digitized for it to become useful; however, this is usually accomplished through time-intensive, manual processes. This is especially prevalent in the financial sector where many businesses need a paper trail. Using advancements in machine learning and cloud technology, it's possible to automate many of these processes to make them more efficient and scalable. Document Understanding is the study and implementation of AI/ML towards document processing, including Optical Character Recognition, Entity Extraction, Natural Language, Large Language Models, Classification, and Generative AI. In addition, we will discuss Document AI, a platform from Google Cloud that takes unstructured data from documents and transforms it into structured data, making it easier to understand, analyze, and consume.