The internet recently celebrated “back to the future” day. Still, Many businesses are transacting through manual processes and paper files.
Often I speak to businesses and query about their productivity levels. In every case, most staff would complain that they are overwhelmed by paperwork.
Paper use in business created a lot of problems. People hate paperwork because of this.
A lot of time is wasted chasing paper, picking up paper from where it was left and dealing with lost paper.
To tackle this issue, Many businesses use document imaging and turn paper into an electronic format. This document then travels through email or file shares to reach different people and systems.
This approach is a step forward from physical paper but, it actually creates additional issues. All we have now is an electronic version (or versions) of the paper.
Most Documents are born digitally these days. They are semi-structured and come in different formats. They have many different purposes and needs to fulfill.
While forming part of a business process, electronic documents often end up in a paper format again within downstream processing. This could be within another department or another enterprise or government agency.
The paper-based business exchanges vary. From getting physical signatures on a paper file for executing contracts, receiving application forms and attachments for onboarding customers, providing evidence such as a receipt for filing an expense claim, sending an invoice to get paid and to completing a checklist for an audit and so on.
Take an Invoice as an example. If you are dealing with many suppliers and contractors, you will be receiving many types of invoices. Some of these are still paper based and many are coming in as digital images in various sizes and shapes.
Dealing with different document types and properly processing them takes effort. Any errors in this processing could delay an already slow and cumbersome manual processing.
This processing job is actually a boring task. While it is important to pay suppliers properly there is no real joy for anyone in sifting through invoices.
It is proven that people engaged in boring tasks make too many mistakes. These mistakes can be very costly to a business. Missing deadlines or incorrect processing can cause serious damage to brands and result in fines.
By using a capture enabled process solution, a business can eliminate all these issues. Metadata can be captured automatically, verified against backend systems and commonly understood document formats can be rendered through such a solution.
Accounts Payable, Mailroom, Employee or Supplier onboarding, Expense management and Travel requests management are activities that can easily benefit from an integrated capture enabled business process solution.
By automating capture, classification, verification, search, indexing and system integration of paper and electronic documents, a single solution will improve your business efficiency.
You can reduce data entry, avoid errors and duplication. Critical information about your core business activities is instantly available to relevant staff. By using capture enabled processing any Incoming information is entered into systems automatically and in the right format.
Approvals can happen faster and valuable time is not wasted chasing paper.
Accurate and fast processing of business transactions will increase revenue and your profits.
Paying invoices on time and processing orders accurately are just the beginning of benefits that flow.
You will also have the information you will need to analyse and improve your business processes.
A side effect of automation is the Cost distribution of boring and manual labour into other interesting areas of business. These improvements create further efficiencies for your business.
Join jEyLaBs for a webinar to learn about how our Capture enabled Workflow solutions can help your business.