10 Things You Need to Know about Intelligent Data Capture

39

Modern business requires a complete automation solution to meet the market dynamics and survive in the long run. The traditional approach consumes a lot of time and effort, giving unproductive results. The automated solutions can give an improved customer experience, which is the sole driver facilitating the growth of the business. 

With the introduction of Artificial Intelligence, companies can predict the need and want of the customers, and explore the successful automation strategy to meet the demand. Intelligent data capture is a crucial and resourceful automated solution to boost existing document management. 

Meaning of Intelligent Data Capture

Intelligent data capture (IDC) is an advanced tool designed to give a fundamental shift in business approach, reading and processing the electronics data, unlocking their significance in real-time. The process cycle involves capturing requisite data from the pool of all kinds of documents containing unstructured data, such as scanned PDF, emails, images, text, invoices, etc. Subsequently, classifying and extracting relevant information, and validating the same before further processing. A proper layout regarding critical aspects of intelligent data capture:

Comprehensive Combination of Advanced Mechanisms 

The technology can both comprehend and extract critical information from the bulk of electronic files without any human intervention, using the following mechanisms:

  • Optical Character Recognition (OCR)
  • Intelligent Character Recognition (ICR)
  • Optical Mark Recognition (OMR)

Optimizing Essential Process

The inception of intelligent data capture into the mainstream has changed the athletics of the following processes:

  • Classification (Document Sorting): The enhanced technology learns to recognise varieties of documents, resulting in a high level of accuracy in document classification without any human intervention.
  • Extraction: The advanced tools have enhanced the process of data extraction, facilitating resourceful extraction of semi-structured and unstructured documents with a high degree of efficiency.
  • Validation: Powered with advanced searchability that validates the extracted data from bulk documents and precisely matches with the required information. This gives a strategic boost to business.

Working Process of IDC

In technical terms, IDC is an automated process that enables easy configuration and business intelligence to capture and digitize business data, automatically enhancing productivity. The working process constitutes:

  • Input
  • Classification
  • Capture
  • Validation
  • Verification
  • Submit or Delivery

Reduces Labour Costs and Maximizes Human Capital

Manual tasks and mundane routines like reading and selecting required invoices, receipts, orders, remittances and other documents, exhaust the potential resources of the employees. Reducing manual labour gives thrust to economic productivity. Hence, IDC provides real and effective solutions for such impediments.

Reduces The Process Cycle

Process cycle refers to how long a recurring process takes. Introduction of intelligent data capture can:

  • Identify and sorting required documents instantly, just by skimming the content irrespective of size and format
  • Extraction and interpretation of data, and faster validation
  • Eliminates the hindrances of manual tasks and physical handling of resourceful data

Improves Accuracy

To err is human. IDC enables accurate supervision and sorting out essential documents from a stack of diverse resources. The technology is designed to recognise and make real values to the intended data, regardless of format, size, symbols, languages and distinct images.

Augmenting Consumer Experience

A robust intelligent data capture technology facilitates businesses to interact with intended customers smoother, faster, precise and responsive way. Earlier, due to the conventional manual process, businesses struggled to cope up with the voluminous amount of data routinely, which included high chances of errors.

Automate Documentation Workflow

With intelligence capture, businesses have strengthened the existing management process and remarkably simplified the intended document process. This has streamlined the workflow of the business and freeing up resources to concentrate on other relevant areas.

Centralization of Data With Greater Flexibility

IDC removes the traditional difficulties due to the stacks of unstructured voluminous data and misplaced paperwork. Now administration can access the requisite information with comfort. Furthermore, providing greater flexibility and accessibility of data 24×7. A resourceful combination of platforms and data customization ensures greater autonomy.

Resourceful Impact on Business

Intelligent data capture allows business to:

  • Enable multiple networks for data capture.
  • Effective process to all kinds of documents by comprehensive the underlying context.
  • Faster paper document processing.
  • Extract and integrate unstructured data to give a meaningful value on a real-time basis.
  • Classify/organise/categories documents according to need.
  • Enhanced speed and productivity, especially in document-driven work culture. 

Wrapping Up

The growing e-commerce industry started a new battle called “Data game”. The growth of a business depends significantly on data. Intelligent Data Capture or IDC provides much more flexibility and efficiency in the processing of unstructured data as compared to the manual process. Bautomate provides an effective and modern solution to intelligent business automation along with offering multiple resources for business. It can be used for automated data extraction, simplification and classification of relevant business records, reconciliation of remittances, improving the speed of the validation process and eliminating tedious manual effort.