More than a single piece of software makes up a complete automation system. You can identify gaps and the best ways to solve them by reviewing your organization’s needs and present operations.
It’s critical to learn how software solutions work in order to fully comprehend how they can benefit your company. Intelligent Data Capture is an important component of any successful automation plan, and it may help you take your current document management solution to the next level.
What exactly is Intelligent Data Capture, and how does it function?
Intelligent Data Capture (IDC) is a technical term for the automated process of recognizing and extracting vital data from incoming paper and electronic documents without the need for human interaction.
In layman’s terms, IDC uses technology to eliminate manual data input. By investing in Intelligent Data Capture, your company may save time, money, and resources by eliminating the need to manually extract and organize data from documents.
Shamrock Solutions uses custom intelligent data extraction for Intelligent Data Capture technology to assist our customers to improve their current document workflows. Once a solution is configured, its IDC “learns” the typical document kinds you use and creates a knowledge database of these document types.
This implies that IDC can classify the type of document you input (for example, a purchase order versus an invoice), extract the relevant information from that document, validate it, and then input that data into your database, ERP software, or another business system of your choice. This procedure differs from typical Optical Character Recognition in that it does more than just detect data; it also extracts and inserts it according to your specifications.
Intelligent Data Capture is a highly accurate data capture system that is very simple to set up and configure. Instead of wasting time on configuration, IDC’s self-learning capabilities allow you to submit a single example of the most frequent document types you utilize. As a result, you’ll be able to start using your solution sooner while still enjoying the benefits of a more advanced solution. Intelligent Data Capture is flexible enough to evolve and change with your organization’s demands since it “teaches” itself.
IDC’s most significant capabilities include invoice recognition and data lifting, forms processing, automated document classification (which automatically differentiates different document categories), and exports to almost any accounting or line of the business program.
Other, less sophisticated intelligent data capture methods had lower accuracy rates and needed a significant amount of set-up and configuration time. On the other hand, today’s solutions are simple to set up and sophisticated enough to learn and adapt for optimum accuracy and flexibility.
The steps in the IDC process are as follows:
- Input
- Classify
- Capture
- Validate
- Verify
- Submit
These tasks can take a long time and resources if done manually, but with Intelligent Data Capture, they can be simplified and expedited.
What is the value of IDC to your company?
Intelligent Data Capture was created with one goal in mind: to eliminate manual data entry from any paper document you may have. Any form, invoice, remittance, purchase order, or another sort of document you encounter in the course of your daily responsibilities falls under this category. You may dramatically cut your headcount and offer your staff more productive duties to focus on instead of spending hours upon hours manually entering data. Your company may double or quadruple the production of staff members who process inbound forms using IDC without making them work any harder.
Simply said, why pay an individual to accomplish something that can be done by software?
Intelligent Data Capture improves accuracy by a large margin. Human errors are unavoidable when humans extract data. The implications of an employee misunderstanding something or mistyping data might be devastating. With IDC, that danger is almost non-existent.
Your company can also benefit from early payment discounts and avoid late payment costs because this approach is so much more efficient.
How to Use Intelligent Data Capture in Your Business
Shamrock Solutions the leading business software company in Overland Park has worked with businesses of all sizes to use intelligent data extraction for Data Capture, and we’d be happy to help you save time and money by eliminating human data input.
Contact us to learn more about how we can assist you.
Related Article:
Business Impact of Intelligent Document Extraction Software
