How Efficient is Your Business?

It’s no surprise that during our recent economic struggles there is a heightened sense of urgency to save both time and money. Amazingly, a lot of companies today are not putting money in their budgets to look for technology to help increase efficiencies. Instead, they are focusing internally on costs and expenses, such as supplies and overhead. This is a great place to start but it may not be enough to stay competitive within the evolving markets with customers demanding more value for less money at an increased pace.

Many companies that are going a step further and implementing Automated Data Capture solutions to achieve these benefits. These systems automatically extract the information from documents using Optical Character Recognition (OCR) for typed text and Intelligent Character Recognition (ICR) for handwritten text. This solution benefits companies that process an average to high amount of documents on a daily basis by reducing the manual data entry costs and processing and delivering the captured data to the people, systems, and processes faster than before.

We know that paper processing costs are high and the time it takes to manually input important data from paper is slow. All too often, companies are paying higher salaries to highly-skilled staff that are doing data entry work as a part of their job. Unfortunately, these tasks take away from where you want these skilled staff to spend a majority of their time – think sales and CRM updates.

What if you could start saving money and start seeing a ROI within six to nine months of implementation?

The key is looking at the whole document lifecycle, from beginning to end and evaluating the daily activities of your staff. You can start taking advantage of data capture in one part of the organization, and gradually expand the solution into other areas of the organization to further reduce costs and increase efficiencies. At the same time, the organization is building a data capture infrastructure.

Imagine starting with the more simple documents, invoices perhaps, then working to the more complicated or robust documents, such as reports, medical claims, complex sales, etc. Finding a solution with the capability to provide you with flexible capture options is a big plus. You want a solution that will easily capture the information regardless of the document format without requiring an IT/technical guru to set it up.

Simplifying the whole document lifecycle is also a key factor for the software you choose. In terms of document management , this would include capturing the image, storing the data and document image for future lookup/retrieval, and exporting the data into your business systems.

You can spend more time (and money) looking for software companies that will handle each of these tasks, or engage with a company that can offer a turnkey solution, because time is of the essence when it comes to increasing profits.

Want to learn more about how you can start saving both time and money today? Contact us at Advanced Data Spectrum.

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