How Data Capture Solutions Reduce Time, Costs and Risks

Posted by Alyssa Anderson on Jun 17, 2016 4:18:00 PM

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Did you know that a typical employee spends 40% of their time looking for information locked in email, printed documents, shared hard disks and filing cabinets? (AIIM Survey 2016) We can all agree that the main goal for businesses of any size, in any industry, is to drive revenue and reduce costs.

One way to make a significant impact, is taking your manual document processes to a digital platform. The quantity of information is instantly reduced and the quality is improved, allowing for faster turnaround to customers and most significantly, a huge boost in employee productivity. A digital solution also gives you peace of mind that your documents are following regulatory compliance while also keeping your sensitive information secure.

Data capture solutions allow organizations to easily achieve goals faster, and improve upon best practices – solving the most document intensive business challenges – reducing the time, costs and risks of managing data. Got your attention? Let’s get into how data capture solutions can specifically make an impact on your business:

  • Reduce Time - Every company has one thing in common – there will always be business data to enter, organize, and file away. But with capture automation software the process is made less tedious and time consuming. This software solution completely eliminates manual data entry by automatically extracting data from a document with tools such as Optical Character Recognition (OCR). The data is then used to index documents for instant retrieval and sharing with other applications and users. Capture automation software solutions are available through a web based engine, allowing access from any computer, tablet, or smartphone, as long as you have internet access. Employees can then get more work done when out of the office. There is also no need to wait for a document to circulate through an approval process. With automated capture workflows, documents can be routed to the necessary people who will be notified via email of pending approval.
  • Reduce Costs - When data capture solutions are implemented in the office, not only will the costs of printing and photocopying be reduced, but the need for physical storage is completely eliminated. Without the need for filing cabinets and additional space to store paper-based files, offsite rent and utilities costs are gone. Additionally, advanced capture software offers expanded feature functionality and a user-friendly interface ultimately reducing acquisition costs, ongoing support costs and training expenses. Because capture automation eliminates manual data entry, it allows more work to be done in less time - diminishing the need for additional hires and giving you the opportunity to give more responsibility and projects to current employees. This way, employment cost is reduced while employees are also becoming more productive.
  • Reduce Risks - With capture automation you will no longer have to worry about the validity and integrity of your information. The extracted data is checked before it’s released into the system and any predefined properties are enforced to ensure data is accurate, giving you the confidence you need to avoid entry error. Once the captured data is approved, an easy filing system makes sorting of critical information, such as barcodes, contracts, and medical files, far more precise than manual entry ever could. While finding a file is simple, access, security and compliance regulations are enforced in order to safeguard critical information. With password protection, user-based permissions and an activity log of all edits made, confidential files are kept secure and unanticipated document tampering is prevented, leaving you worry-free and ready for an audit. With data capture solutions, the precision and accuracy of business information is guaranteed, while documents are kept secure from unauthorized viewing.

Data capture solutions take away the stress of manual data entry by converting business content into valuable, actionable data. This helps businesses to become more productive and secure while also saving money and storage space. Automating data capture processes will boost efficiency in any business environment, simplifying your most complex tasks. For more information on the benefits of data capture solutions contact Square 9 today!

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Topics: Compliance, Document Management Software, Digital Storage, Enterprise Content Management, Capture