with automated document capture!
It’s no question at all that the manual processing and upkeep of documents is an extremely time-consuming process. And, this is only one of the downsides, because we can’t forget about the money, energy and stress it can cause on the team. With the current demand for information to be accessible and secure, companies need to compete on a more high-end and automated level. That’s why document capture comes into play!
At FELLOWPRO AG we have developed the ultimate document capturing solution, DOC², which can completely overhaul the manual process by automatically extracting the unstructured data within documents like – invoices, contracts, forms, etc. The main added value is directly perceived on the ROI due to this following advantages:
- Document automation can allow companies to increase process efficiency
- Document management can improve communication within the organization
- Companies can profit from a paperless and cost-saving change
Document automation can allow companies to increase process efficiency
More than 80% of the information in documents is unstructured, which means that is not instantly available to help employees with their tasks. If we take booking invoices as an example, companies would spend 10 minutes per invoice to finalize this process. If you count on receiving 10.000 invoices per month, this is already 1.700 hours. This is already a huge costly and time consuming process. With DOC² you can reduce that time to 3 minutes, which would have a direct impact of 70% efficiency on time and costs.
Document management can improve communication within the organization
One of the main benefits of DOC² is also how it can be seamlessly integrated with any DMS system. This means that companies could not only digitize documents to store them in their DMS but also use the extracted information by DOC² to easily share it with the team. This way it would be possible to automate approval workflows or to align between departments, like for instance for purchase orders between the purchasing and financial teams. Not only would communication be enhanced but employees would focus on business-critical tasks and goals instead of just wasting time searching and accessing the documents.
Companies can profit from a paperless and cost-saving change
Changes come with an up-front investment in order to implement a document capturing system. With DOC² the results are instantly noticeable on the added value of the software but most importantly on the ROI too. By eliminating the manual filing of documents and replacing the paper storage space, companies can act more flexibly against organizational downtimes and decision-making times. Organizations will reap the benefits of this boost in efficiency by shifting resources from clerical tasks towards revenue-producing tasks.