More Precision, Transparency, and Flexibility in Document Management enhancements designed to further streamline document processing and approval workflows. These updates give organizations greater control over
There is no question that the manual processing and maintenance of documents is an extremely time-consuming process. And that’s just one of the downsides, because we can’t forget how much money, energy and stress it means for the team. With today’s demands for accessibility and security of information, companies need to compete at a higher and more automated level. This is where automated document capture comes into play!
FELLOWPRO AG has developed DocBits, the optimal document capture solution that completely overhauls the manual process by automatically extracting the unstructured data in documents such as invoices, contracts, forms, etc. The main added value is directly noticeable in the ROI through the following advantages:
More than 80% of the information in documents is unstructured, which means it is not immediately available to support employees in their tasks. If we take invoice posting as an example, companies would spend 10 minutes per invoice to complete this process. Assuming 10,000 invoices per month, that’s already 1,700 hours. This is already a very costly and time-consuming process. With DocBits you can reduce this time to 3 minutes, which would have a direct impact of 70% efficiency on time and costs.
One of the key benefits of DocBits is that it integrates seamlessly with any DMS or ERP system. This means that companies can not only digitize documents to store them in their DMS or ERP, but also use the information extracted by DocBits to easily share it with the team. In this way, it would be possible to automate approval workflows or coordinate between departments, such as between the purchasing and finance teams for purchase orders. Not only would communication be improved, but employees could focus on business-critical tasks and goals instead of wasting time searching for and accessing documents.
Changes involve an upfront investment to implement a document capture system. With DocBits, the results are immediate in terms of the added value of the software, but more importantly the ROI. By eliminating the manual filing of documents and replacing paper filing, companies can respond more flexibly to organizational downtime and decision times. Companies benefit from this increase in efficiency by shifting resources from office work to revenue-generating tasks.
More Precision, Transparency, and Flexibility in Document Management enhancements designed to further streamline document processing and approval workflows. These updates give organizations greater control over
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