Today’s companies face the challenge of upgrading traditional work processes. Typing data manually, updating records, and filling in forms, for example, are tedious and time-consuming tasks. But thanks to the accuracy and failproof nature of automation and data capture software, these processes, with the potential for human error, have been rendered obsolete.
Automated data capture solutions play a vital role in workplace modernisation and digitisation. Data capturing help old and emerging companies optimise workflows and streamline documentation. Data capturing methods also make these processes efficient and reliable.
Most importantly, data capture solutions have made it easy to store, secure, organise and retrieve information on demand.
How does data capture software work?
By definition, data capture software is a program that extracts information from a physical document and converts it into a computer-readable data format. Artificial Intelligence (AI) and Optical Character Recognition (OCR) technology power capture software to automate and digitise documents, such as invoices, receipts, contracts, and other confidential records.
These document capture software solutions can also be embedded into existing software applications using an application programming interface (API) for integration.
The most prominent data capture solutions in the market today use machine learning and Big Data to eliminate the need for manual setups and scale to thousands of document designs, depending on business demands.
Why do businesses need automated data capture software?
Transitioning to a digital-centric process can help organisations develop and take on the emerging challenges of a data-driven future.
There are several benefits of using data capture software for business, which we have listed below.
1. Automated data capture solutions eliminate manual data entry errors.
Manual data entry and the relevant task of visual checking are prone to errors. If your company relies on accurate numbers and information for processes such as expense management, proof of purchase, and accounts payable, mistakes are costly.
Document capture solutions eliminate these worries by providing automated capture tools that scan the data, digitise it, and deliver it in the format you need. The software comes equipped with data-matching tools, which provide a more accurate alternative to visual checks. Its tools make it easier to validate the information you process.
2. Document capture software can help you save time and resources.
All the processes mentioned above only take seconds. Think of the amount of time you can save, plus the assurance that your inputs are accurate and up to date.
Another feature of document capture software is its ability to secure important documents crucial to company operations. The program saves copies of the original documents. It also manages, organises, and stores them.
The documents are available 24/7 for fast, easy retrieval, helping companies transition to paperless work processes.
3. Automated capture solutions provide real-time reporting and tracking.
An automated capture software can arrange, store, and retrieve files and documents. It also provides users with real-time tracking and reporting features. Such a combination can help business owners deliver data and present them in an organised format.
These data, delivered fast and accurately, can help managers make informed and relevant decisions, based on the insights from existing documents and large volumes of data. The results are easy-to-read documents that are accessible to every member of the organisation.
4. The top document capture software solutions use AI-powered OCR.
AI and machine learning can improve optical character reader (OCR) technology. Via machine learning, an OCR program can learn from every document it processes. AI, then, allows the software to execute smart and valuable decisions based on all the information that it processes over time.
These two components allow OCR programs to extract data from any language and document design and remember them.
AI and machine learning also eliminate the requirement of templates and forms as they can smartly execute tasks based on previous, similar tasks. Combining these two technologies also provides companies with customised and highly adaptive tools that will grow with their organisation for decades.
5. Automated capture tools improve your overall business efficiency.
Boosting productivity, efficiency, and growth is the goal of every innovative technology introduced into a workplace. Likewise, automated capture tools work to this end. With the elimination of tedious and time-consuming data entry tasks, workers can focus on more vital, higher-value work.
Automated capture tools are also easy to integrate into your existing business programs, such as digital software and other desktop and cloud products. The simplified integration allows a seamless transition and easy upgrade for modern businesses.
Additionally, machine learning and AI-powered programs can simplify complex tasks whilst delivering valuable data useful for real-time tracking and reporting.
Most importantly, using the automated capture tools’ ability to take on big data and high-volume information, your company can take on bigger, more challenging tasks, paving the way to growth and expansion.
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