For over 70% of organizations, scanning is the leading method of document capture. However, AIIM Research finds that only 13% of those organizations leverage Optical Character Recognition (OCR) to automate the extraction of data from scanned documents. Unfortunately for the other 87%, they are missing out on one of the greatest benefits of capture automation. OCR is an essential capture solution that provides the accuracy and efficiency organizations need to gain valuable insight into business intelligence.
Arguably one of the most document-intensive industries, 74% of legal businesses still rely on a manual process to gather the information, evidence, and documents required for discovery. Managing hundreds of client letters, legal service agreements, and government filings monthly, law firms are among the best candidates for capture automation software. Although cautious to take processes digital - in fear of losing control over documentation and the data within - electronic capture solutions provide law firms with the ability to eliminate paper-based filing, while gaining immediate, firm-wide access to case files, facilitating the capture, search, and retrieval of critical client information.
Research shows that workers in the manufacturing industry spend 20 to 40 percent of their time gathering information before they can even begin completing daily tasks, according to IBM ECM. Manufacturing organizations are often dominated by materials and equipment, leaving little room for the storage of documents including, shipping and receiving files, job tickets and human resources forms. With limitations of storage space, along with the pressures of completing projects on tight schedules, employees are left with little time to search for and retrieve critical business data. However, no matter what an organization manufactures, if there is a paper trail, then there is a software solution that simplifies and streamlines everyday business processes.
In today’s increasingly information-intensive world, having the speed and accuracy to efficiently locate, edit, share and store documents - both paper and digital - can make all the difference. But end users do not want multiple software solutions to accomplish these tasks. Because of this, document capture automation solutions have been revamped to surpass basic process automation and standard workflow actions and instead deliver proven benefits in workplace efficiency. This fundamental shift in capture capabilities has encouraged more businesses to incorporate advanced capture workflow into daily processes.
Every organization deals with paperwork, which is constantly slowing down the flow of business information and productivity. We all know that by implementing document management software, companies can become paperless by scanning, storing and retrieving documents for streamlined processing. Unfortunately, for some organizations, a simple document management storage and retrieval solution just isn’t enough. While the basics of a document management system are essential to any organization, imagine the opportunities when given the ability to also capture, extract and share critical information, while automating and routing documents and their data.
Topics: ROI, Compliance, Document Management Software, Digital Storage, Efficiency, Automation, Document Workflow, Integration, Collaboration, Mobile Document Management, OCR, Productivity, Enterprise Content Management, Legal Industry, Capture
According to AIIM research, the number and types of incoming business documents that must be managed is accelerating, causing data capture to be a key challenge in organizations today. For 67% of survey respondents, half or more of their main processes involve connecting multi-channel inbound content to one managed process. From shipping information to employee demographics, finances and more, the data we collect on a daily basis is widespread and often lacks structure. Even with a basic scanning process in place, capturing and processing this data can cause tremendous strain on administrative staff.
Speed and accuracy are differentiators in today's increasingly information-intensive world. Because of this, document capture has transformed into so much more than just scanning documents. Today, document capture capabilities have become complex, surpassing simple process automation and standard workflow actions. The fundamental shift in document capture has led to businesses incorporating it in their daily processes.
Moving your business documents to a paperless format can be challenging. But by embracing new document technologies and digital business practices, any company can benefit from paperless solutions by saving time and money while improving business efficiency.
What is the starting point for your business processes? Is it sifting through a filing cabinet for paperwork? Or is it at your document management system, where you can digitally search and retrieve the information that is imperative for your business to function. While this is an acceptable starting point, a good foundation for creating efficient business processes begins with capture automation.