Data Capture: How to eliminate paper- based documents to enhance people- based processes

Transcription

1 Data Capture: How to eliminate paper- based documents to enhance people- based processes Mark Uranza Business Partner Technical Manager ReadSoft, Inc.

2 How many documents do you receive each day? Are these business-critical documents handled in the quickest & most efficient manner? How much time does your organization spend sorting & preparing incoming documents? Is your document processing SOX compliant?

3 AIIM Assessment: 35% confirmed less paper consumption 42% of scanning & capture projects achieved a payback period of 12 months or less 57% of projects achieved payback of 18 months or less 38% are equipping employees with portable capture devices 20% of largest companies are committed to a cloud deployment strategy with capture Scanning & capture can improve customer response times typically 2 and 3 times faster

4 77% of invoices that arrive as PDF attachments are printed 31% of all invoices are printed and then re-scanned 45% of documents that are scanned were 32% of organizations reported an increase in the level of paper consumption and copying

5 - Quantifying the DRIVERS for scanning & capture

6 According to Gartner Cost to file a document: $18.00 Cost to retrieve a misfiled document: $ % of misfiled documents are never found Average document is copied 11 times, costing $16.00 Mismanagement claims 40%-60% of workers time

7 Benefits of OCR & document automation Reduce Data Errors Accurate Metrics Lower Costs Improved Visibility Increased Accuracy Shorter Processing Time Increased Control

8 EVOLUTION of OCR & Data Capture Solutions

9 Components of an effective Enterprise Content Management System Input Scan Capture OCR Index Workflow Approval Research Repository Archival Storage

10 How is Document Capture used today? -

11 AUTOMATED processing of business-critical documents Business-critical documents enter the document capture system, where: They can be automatically sorted. Key information can be automatically captured and interpreted from them. Upon leaving the document capture system, these documents have been digitized, sorted, and are ready for immediate use in a target system. DOCUMENT CAPTURE SYSTEM Input documents: Unsorted Multiple structures Multiple formats Automatic document sorting Extraction of document information Output documents: Digitized Sorted Ready for immediate target system use

12 AUTOMATIC goes off for processing.

13 AUTOMATIC And wherever business-critical documents are digitally processed, these are normally manually

14 AUTOMATIC Business-critical documents are manually sorted and now ready for input into a target system. As you saw earlier, the document capture system meets this business challenge by automating the document sorting process. DOCUMENT CAPTURE SYSTEM Automatic document sorting

15 - Return on Investment

16 - Return on Investment

17 WHO has used this technology? Mortgage Organization Processing Loan Applications Invoices Correspondence Appraisals Handling of documents has decreased by 60% 800,000 pages per year

18 WHO has used this technology? Retail Store Being used currently in the Human Resources department Backfile conversion from HR files stored in filing cabinets Classification automatically missing documents.

19 QUESTIONS to consider: Is the explosion of digital information making your organization more effective or less effective? Can your employees find information when they need it? IMPACT

20 QUESTIONS to consider: Can your employees collaborate on projects no matter where they are located in the world? Has your ability to document what your organization did, why you did it, who did it, and when they did it gotten better or worse in the past 5 years?

21 Questions & Contact Information Mark Uranza, Business Partner Technical Manager