What is Information Capture and how does it benefit organizations?
Information capture is the process of capturing both images and data from content. This often is associated to scanning, indexing, and data entry needed for paper documents but can also include other sources like web, fax, email, mobile devices, and more. Many organizations invest in technologies to improve flow of data, but they still struggle with costly processing bottlenecks caused by inefficient manual data entry and validation steps. That's because more than 80 percent of intelligence is trapped inside unstructured, unmanaged documents - documents that have been difficult to automate up to this point. Information Capture solutions provided by PaperFree sort paper and electronic documents based on their content, extracts key information off of those electronic documents based on its context and then validates that data utilizing multiple sources (database lookups, regular expressions, direct integration to other systems, etc.). The end result is perfected data that is passed on to your core business applications quickly, efficiently, and inexpensively. Incoming captured documents provide information in three categories today:
- Structured - information is provided in a consistent, repeatable, location like in a credit card application, insurance claim form, or income tax form for example.
- Semi-structured - information is provided in various locations but often utilizing the same key information in the same general area or arrangement like what is found on invoices, purchase orders, or checks for example.
- Unstructured - information is found anywhere with no consistency of location or arrangement like what is found on correspondence, contracts, or loan documents.
The solutions PaperFree provides utilize technologies like intelligent document recognition (IDR), Advanced Extraction (ICR/OCR) and variations of non-templated free-form process to extract your mission critical information from virtually any kind of incoming document. The use of automation technologies to capture, classify, and extract information from content can provide the following benefits:
- Faster processing which results in reductions in the amount of effort required to capture data
- More accurate processing through the use of business rules and automated validations
- Capturing of more information which provides even more benefits when utilized in business analytics or other big data initiatives
- Capturing at the point of origin - ensures that information enters the enterprise quickly and efficiently and is utilized easier and potentially even farther downstream than ever before
A single unified capture platform for all incoming information into the enterprise is finally well within reach. The days of departmental information silos can be a thing of the past. A future where information is captured across departments and utilized wherever and whenever it is needed most can be achieved through the use of intelligent capture technology. To learn more about how information capture solutions from PaperFree can help you achieve faster more efficient processing of your information give us a call today.
- Centralized storage – documents and other information are stored in one location for easy maintenance and access.
- Fast access – access digital information quickly and group related documents.
- Taxonomies – classify documents for easier lookup.
- Speed processing – feed scanned data into backend systems for automated processing..
- Save money – with only one repository to manage there are no costs to maintain paper files.