When it comes to using technology to relieve workers of the monotonous, inefficient and error-prone tasks of manually copying text from a document into a system designed to record, organize and manage information, the history is long, the challenges have been great and the results have been mixed—until fairly recently.
Today, however, the list of applications and use cases for intelligently extracting data trapped in digital documents, automatically and with minimal effort, is growing exponentially. That’s thanks in no small part to advances in machine learning, intelligent process automation and AI.
If you’re still handling documents manually or relying on your staff to enter data from large volumes of data or documents into your ERP or document management systems, here are a few tips on tools and technologies to look for that will make your employees more effective and more empowered, while making your processes far more efficient and predictable.
If you haven’t implemented or relied on a system to automate high-volume transaction processes since the days when “advanced capture” solutions were cutting edge, you owe it to yourself to take a new look at the new opportunities presented by intelligent data capture technology, and how it enables intelligent process automation.
Intelligent data capture is the industry term for solutions sort through and identify relevant, actionable information within a scanned document (commonly referred to as ‘advanced capture’)—but also do a LOT more heavy lifting. Intelligent data capture solutions can also connect with business systems to cross-check extracted data. They can flag or automatically correct errors automatically. And that can interact with ERP or ECM systems, using the extracted data to create new transaction records.
When it comes to high-volume, high velocity business processes like vendor invoice handling, these capabilities are critical to preventing costly errors and exceptions, and to keeping pace in a digital world where documents, data and transactions need to flow with minimal friction.
In part two of this blog series, we’ll explore how today’s intelligent data capture solutions are more flexible and easier to implement than ever before, thanks to advances in machine learning.