Whatever business you do, there is always some paperwork to deal with. Documenting data, double-checking, and organizing them for archive. We all may agree that those tasks can be the most stressful things, especially when meeting tight deadlines that pressured us to work fast. However, this seemingly minor challenge can slow down your business flow, and using automated data capture has become a new way to end this problem.
By automating data capture of various documents you handle, eliminate the hassle of manual data entry and save a lot of time. But beyond just time-saving, it has plenty of benefits many still don’t know about—both for short-term or long-term.
What is Automated Data Capture?
Automated data capture refers to the process of automatically capturing text from images or documents. The technology used in this process is Optical Character Recognition, commonly abbreviated as OCR. Today’s OCR has advanced significantly with the help of AI, enabling it to adapt to various layouts, regardless of the document type. This solution enables you to convert paper-based documents into manageable data in no time.
Seven Ways Automated Data Capture Can Benefit Your Business
1. Make your data entry simpler
First of all, it will definitely simplify your data entry flow. Tasks that used to be laborious can now be done automatically. With this cutting edge automation, you barely have to do anything. All you need to do is just upload your document, and OCR will extract every piece of data you need shortly.
2. A huge time-saver
As you can infer from the first benefit, it can indeed slash your paperwork time. Employees typically spend 3 until 4 hours on data entry every day. Automated data capture helps get paper-related tasks done quicker, freeing up more time for employees to focus on what truly matters. The outcome? Improved employee productivity and a more efficient business process.
3. Paving your way to cost-efficient business
The manual process is already time-consuming, and its human error risk can add even more delays. The more time your employees spend on tedious tasks, the more you are actually spending on labor. By automating several parts of daily operations, you can significantly reduce unnecessary costs related to manual steps and build a more efficient process.
4. Offer you a reliable data asset
Accuracy is the foundation for data to be a reliable resource for the company. OCR is capable of processing large volumes of data with a high accuracy rate. No more worrying about missed data—seamlessly route extracted data into your existing system while maintaining data consistency throughout the process.
5. Keep your business agile
In today’s competitive landscape, what is important is being agile and adapting quickly to market changes. Automated data capture lets you collect valuable data without delays, helping you stay aware of business position and respond quickly to real-time market conditions. Furthermore, it leads you to make timely decisions in this fast-paced environment.
6. Improve employee experience
Employees are the key to business growth. Boost employee satisfaction by reducing monotonous tasks that can be automated. This automation does the heavy lifting and makes daily administrative tasks much easier, preventing a lack of motivation that can negatively affect their productivity.
7. Drive informed decision-making
Automatically capture valuable data from many documents and make the most of them to take strategic actions. With this integration, you can make data-driven decisions more efficiently. Gain access to real-time data that can help you enrich insights and lead you to better business outcomes.
Start Automating Your Business
From boosting efficiency to improving decision-making, automated data capture benefits you in various ways. OCR technology that supports automation advances over time, providing you more advantages to come. Fintelite OCR offers a simplest way to capture actionable data from any documents, making data easier to work with. Accurate, fast, and scalable data extraction for all your business needs.
Fintelite OCR can be flexibly developed and incorporated into your existing system, streamlining document processing within your workflow. Book a demo today and see how Fintelite OCR can cut your costs up to 30%.