Data Capture Services – Future-proofing large organisations

Today, businesses are constantly on the lookout for more efficient ways of working. Fortunately, there is no shortage of opportunities to achieve this. One of the most popular, and fundamentally beneficial methods, is migrating to an Electronic Document Management System (EDMS) through the Data Capture process. The process involves the digitisation of a business’ paper-based data and allows a business all the benefits of functioning more optimally. Businesses who have employed data capture services are more efficient and are ultimately future-proofing themselves by ensuring that they keep up with the pace of today’s tech-driven business environment. In this article, we’ll explore the process and benefits of data capture services and how data capture could give your business a significant advantage.

Data capture explained

Many business owners fail to take into account the fact that businesses generate a significant amount of data every day. This data includes:

• Email
• Physical mail
• Invoices
• Orders
• Forms
• Remittance
• Applications
• Accounts payable
• Accounts receivable
• Proof of delivery
• and Claims.

By digitising data, a business can more accurately store, organise and manage access to it. This allows a business to:

• Identify, categorise and classify documents
• Control access to different information
• Indexing the data to streamline search and retrieval
• Easily update business systems with incoming data by integration with other business systems.

The benefits of data capture services are both immediate and long-term. As mentioned, businesses making use of the service are ensuring their success in the ever-changing digital landscape of business. Next, we will explore the most significant future-based benefits of data capture services.

The future of storage

Businesses that have migrated to an EDMS through data capture can store more information in less storage space. This means your business will have significantly reduced physical requirements. Allowing it to become more profitable because the cost of office space is dramatically reduced. More and more modern businesses are operating on a digital system. Freeing themselves up from the confines, expenses and wastage of physical office space, by running on a digital infrastructure.

The future of error mitigation

Businesses that have used data capture are mitigating a significant amount of potential error by bypassing human error. One of the most significant issues with staff handling paper-based documents, and manually transcribing them is the high rate of error. Even with the most diligent quality control processes, the chance of human error is always present. Digitised data systems are considerably more efficient and reduce the chance of mistakes being made across a business. By making use of a trusted third-party data capture provider, a business has the confidence that their data can be digitised way more efficiently than if they did it themselves. This means that their data is more accurately captured and is therefore more trustworthy. This is especially important considering the data in question probably has a direct effect on that business’ profitability and potential success.

The future of cost savings

Paper-based data entry requires significant human resources, training, and supervision. This increases a business’ costs and the need for staff. Businesses are future-proofing themselves by using data capture services to bypass the need for dedicated data entry staff members, saving them money and time. As mentioned, by making use of a data capture service, the risk of errors is decreased. This means that the subsequent costs associated with rework and reconciliation are also foregone. Finally, businesses that run on an EDMS, reduce their need for paper, printing, and paper-focussed office stationary. Businesses that run on a digital system can optimise their spending in this regard, and can then allocate these resources more efficiently and invest them into other areas of the business’ growth and development plans for the future.

The future of operations

One of the most significant future-proofing benefits of data capture services is more efficient operations. Businesses win or lose based on their numbers, and using data capture services to digitise this data sets a business up for success in a few important ways –

Improved Data Accessibility

Digitised data is more easily accessible and searchable than paper-based information. This is primarily because digitised data can be stored in structured and organised databases, allowing for quick and efficient retrieval based on specific criteria. This saves time and resources because staff and customers can easily find and retrieve information. This, in turn, ensures that collaboration across the business is more efficient since information can be shared across departments and stakeholders instantaneously.

Improved Integration

Digitised data and the systems that manage that data are designed to seamlessly integrate with the existing software and systems a business employs. This means the business includes software including enterprise resource planning (ERP) systems, customer relationship management (CRM) software, accounting software, and other business systems. When a business migrates to a digital data system they benefit from a consistent flow of data between different systems, enhancing their operational efficiency.

Improved Compliance and Security

Digital data systems are inherently safer than their paper-based counterparts. Because safety controls can be put in place to manage access to, and safeguard, a business’ data. These controls include robust encryptions and access control applications. EDM systems are also required to adhere to stringent data protection regulations, which ensure the confidentiality and integrity of the business’ sensitive information.

The Future of Data Capture Services

Micro Image is the trusted Data Capture Services provider for several global and national corporations across Australia. Our data capture experts partner with you to create a custom data capture solution designed to transform your businesses from the inside out. Using advanced recognition software, we transform your documents into powerful sets of data from a wide range of electronic and paper file formats. This information can then be centralised, stored and accessed using cloud-based technology or used to initiate a seamless workflow process. Get in touch with our team and find out how our data capture service can future-proof your business, starting today.