In 2011, Gartner published an astonishing study revealing almost 40% of an enterprise’s data was inaccurate, missing or incomplete. Fast forward to 2018 and you’ll find organizations still struggle with this challenge. Since a company gathers, archives and generates more information each year, those lacking a modern document imaging solution to help manage business content are at a higher disadvantage — missing opportunities to stay innovative, agile, efficient and competitive.
So what can an organization do when the volume, intensity and speed of its incoming, internal and external business data overpowers their current system and processes?
A best practice, whether a company’s document management system resides on-premises or in the cloud, is to seek out an advanced document imaging solution with strong capture capabilities that ensure consistency and minimize unstructured data.
Here are a few factors to consider as you evaluate your organization’s current and future document imaging needs — especially if your users will need to access quality data stored in the cloud.
Identify and classify
While Optical Character Recognition (OCR) services are typically performed on the device, it can not only be expensive and painful to install but processor intensive — which slows performance. Using advanced capture services hosted on an on-premises server or within the cloud include being able to use OCR services with a desktop, tablet, or mobile device, any time, from any place.
- Work in any browser-enabled device.
- Capture any type of document from any source.
- Separate and categorize documents.
- Extract metadata and keywords to ensure productive searches and retrievals later.
- Export to file systems, databases, cloud and storage repositories.
- Set up pre-defined rules to ensure accuracy when validating data against external databases.
- Integrate with your Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and other line-of-business applications.
- Flexible deployment — whether on-premises or in the cloud.
Speaking of the need for accuracy…
According to a survey by Brousseau & Associates in 2016, 49% of organizations reported that accuracy is the most important document processing metric. An advanced capture solution should be able to recognize, sort and extract data from unstructured documents while simultaneously validating the information faster than any employee can do so. As a result, this eliminates the risk of costly, labor-intensive human error.
While most businesses’ content comes by way of invoices, orders, contracts, or claims, an effective, advanced capture solution can help an organization dig to discover accurate, deeper insights found within what was typically unstructured content.
Other benefits include
- The ability to tackle document-heavy processes and other critical business processes.
- Improved productivity so employees an focus on higher value tasks.
- Extracted metadata from documents can trigger automated workflows to further business value.
Data never sleeps
Leveraging an advanced capture system within an organization can elevate the way your enterprise processes information without the up-front investment or installation. The intuitive user interface includes scanning and automatic data extraction as well as exportation to ERP and repositories to ensure a positive, simplistic user experience.
Take your first step toward finding the best document imaging solution!