Across industries, organizations have ambitious visions of how digitalization will transform their core business and operations. This vision typically includes new and redefined customer journeys enabled by self-service capabilities and complete utilization of available data. However, even highly digitalized enterprises still rely on paper-based documents, despite the challenges that manual document processing entails – reduced job satisfaction, operational inefficiencies, and disparities between teams. This is mainly due to the complexity of integrating new IT solutions onto existing infrastructure, especially with solutions like intelligent document processing (IDP), which requires a significant change in organizational behavior, processes, and investment.
While keeping data at the core of decision-making, a multi-engine, multi-pass approach has each engine playing to its strengths in capturing data.
Status quo of today’s data capturing and extraction
An organization’s information comprising structured, semi-structured, and unstructured documents resides across various locations and comes in different velocities. In order to capture or extract the requisite data of value from these documents, digital tools such as ICR, OMR, and OCR come in handy based on whether they are handwritten, machine-printed, or pre-defined type forms. That said, enterprises still face challenges in fully materializing paperless processes:
A multitude of data formats and sources can lead to transcribing errors or suboptimal scanning of documents. If not dealt with using an automated and scalable IDP solution, converting paper documents into digital versions based on each format or source can become cumbersome.
General organizational rigidity, risk-averse decision-making, and employees’ fear of job loss have caused many businesses to avoid digitally optimizing the way in which documents are processed. This lack of access to data in digital form also hinders the implementation of analytics and the discovery of operational insights.
Getting stakeholder agreement between partners, vendors, government agencies, etc., for adopting digital communications necessitates a comprehensive transformation. This entails significant switching costs, which automatically deters the stakeholders.
Clearly, there is a need for an IDP solution that extends beyond just technology capabilities, accelerates tangible outcomes by resolving persistent problems, redefines document intake processes, eliminates inefficiencies, and delivers business value from any part of the world.
Cloud-based IDP: Truly digital for the future
Organizations are moving to cloud-based solutions that can enable document scanning from any location and process the same on the cloud, along with customizable features. Employees scanning the documents can be semi-technical resources and do not require in-depth knowledge of the application to get the processing done.
While keeping data at the core of decision-making, a multi-engine, multi-pass approach has each engine playing to its strengths in capturing data with OCR, ICR, and OMR on the same document. Adding to this is an intuitive and user-friendly GUI for data verification, a provision to append customer-specific functionalities like embedding comments onto the image, duplication of specific pages, and more.
Better decisions with the right data in the right place
Documents still exist in a quarter of operational scenarios across businesses. But a good starting point in transforming document processing would be with industry-specific examples such as know your customer (KYC), insurance claims, proof of delivery, and patient onboarding. HTC’s expertise in intelligent document processing can help understand what the document is about, what information it contains, and how to extract and send the right information to the right place.
#IT infrastructure solution
#intelligent document processing