03 Jan The Key Role of Document Processing in Data Management and Digital Transformation
There’s often much talk in IT and management about the enhanced role of data. With an ever-increasing number of connected devices, and the ability to leverage data analytics, organizations can get overwhelmed with information.
The Key Role of Document Processing in Data Management and Digital Transformation
While there has been a boom in the amount of digital data, many organizations continue to use unstructured data in the form of documents and emails.
Those looking to achieve the productivity benefits of digital transformation need a solution that enables document processing across their entire organization.
Optical character recognition (OCR) solutions have been around for years, but while these tools are highly useful at capturing text, most do not provide an analysis of the document.
Ultimately, then, most OCR applications offer an incomplete solution — one that requires hours of employee time to perform analysis.
Because of this, many organizations only take partial steps to digital transformation, as digitization is only a component of real digital transformation.
To achieve organization-wide beneficial and forward-thinking change, document processing needs to leverage artificial intelligence and machine learning so that categorization can occur.
The benefits of document processing
80% of business info is unstructured, yet this data is crucial for many business purposes.
Processing these documents into a digital format, and properly categorizing the information for use provides many benefits that can increase an organization’s competitiveness, improve customer experience, and provide more significant insights into various business activities.
Document processing benefits include:
- Cost optimization. Retrieving information from unstructured documents is costly. Intelligent document processing with categorization makes more information available to businesses so that they can operate with greater accuracy.
- Error prevention. Document processing automation ensures consistency and accuracy, so the information you extract is more useful.
- Increased productivity. Automated document processing is faster than doing the analysis manually, and it is well recognized that speed is crucial in any data migration effort.
- Optimized data integration. Document processing can work over various platforms, so it works with your business, not against it.
Complexities can make businesses overlook document processing
While the benefits of processing and integrating data from unstructured sources are clear, many businesses neglect the digitization of their records.
Why? Many OCR systems are complicated. They grab text and do nothing to organize and contextualize the data. Ultimately, if your document processing solution simply digitizes the document, then you need to engage an employee to analyze the information and organize the derived data manually.
Some OCR systems use templates to achieve organization with processed documents. However, the use of templates can also require employee hours to properly review the templates and ensure that the data is extracted correctly and validated.
Also, OCR pricing structure can be complicated, making the return on investment of digitization difficult to ascertain.
If all an organization see is a cost without relation to benefit, it is more likely that document processing will be moved to the back burner.
Fully leveraging automation for complete digital transformation
A better solution goes beyond OCR tech to democratize access to document information. Automated document processing can provide accuracy to enable digital transformation through Robot Process Automation (RPA).
Automated document processing services enable you to capture and organize data so your business can achieve optimal efficiencies. By creating a document workflow automation, you can:
- Minimize risks that arise from human error
- Make documents easier to access
- Improve visibility and accountability
- Remove productivity bottlenecks
But more than just automation, today’s document processing services give organizations the benefits of human document analysis, at a lower cost and with greater accuracy.
Organizations can leverage the speed of the latest OCR technology while adding comprehensive abilities to identify and categorize the information that needs to be extracted from documents.
Automation speeds up the process while increasing the value of the data because it is accurate and more readily available.
DocDigitizer is a full-featured Intelligent Data Capture Service that delivers the benefits of modern document processing plus 100% accuracy with easy setup and maintenance.
The document processing service can be deployed with minimal IT intervention, so it doesn’t become a resource drain on your technology department.
With DocDigitizer, organizations can tap into unstructured data, and use it to drive competitiveness and improved business processes. By using a team to curate data prior to delivery, DocDigitizer provides the best of all worlds: technology, automation, and service that ensures quality.
Start now your digital transformation!
Related Content: How to Get an 80% ROI over Your OCR Implementation