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gabriela.ruiz@requordit.com May 27, 2022
Things are changing fast these days. Market volatility. Soaring volumes of information. Ever-increasing customer expectations. Disruptive ‘digital born’ competitors. To keep pace with these changes and to stay one step ahead of competitors, organizations need highly adaptable processes.
But when it comes to capturing mission-critical information – one of the most valuable assets of any organization – most back-office operations still rely on rigid and outdated on-premises systems. Not surprisingly, organizations are falling far behind when it comes to managing their information. Just consider the amount of “Dark Data” or untapped information that resides within most organizations.
Cloud capture solutions provide the agility that organizations need to overcome today’s uncertainty.
How cloud-based capture solutions work
Cloud capture solutions automate the capture, processing, and management of documents and data.
- Documents are received via email, FTP upload or other delivery channels and automatically classified by document type. Any structured, unstructured, or semi-structured data is then extracted from the documents, based on pre-configured business rules. A human-assisted review of the data extraction results ensures nearly flawless data capture accuracy.
- Extracted data is automatically processed based on an organization’s existing business rules, eliminating the need for manual, repetitive tasks. By eliminating manual, repetitive tasks, staff are free to focus more time on fulfilling, higher-value activities.
- Cloud capture solutions seamlessly integrate with any line-of-business (LOB) application, enterprise resource planning (ERP) platform, or other legacy system, eliminating the need to re-key information. Users can easily search and find data from a single platform.
By consolidating all documents and data received through diverse channels onto a single platform, organizations gain greater control and visibility over their mission-critical information.
How to right-size your capture operations
A cloud capture solution can also help an organization right-size its operations.
- Adapts easily. On-premises capture systems are hard to adapt to new technologies and fast-changing business requirements. New functionality may require expensive license fees, complicated upgrades, on-site training, and the deployment of new servers. Cloud capture solutions make new functionality instantly available to users, often at no additional cost.
- Scales with your business. No organization wants to lay out lots of money every time its volume grows. But that’s what happens with on-premises capture systems. Organizations are typically required to pay for more software licenses, seat licenses, scanners, PCs, servers, and staff to support additional volume. Beyond the capital outlay, it takes a lot of time to get everything in order. Cloud capture solutions provide a delivery model that can be instantly scaled up or down to support volume growth, seasonal fluctuations, or a drop-off in business. Many organizations, even big ones, can get up and running with cloud capture within hours.
- Pay for only what you need. From software licenses to hardware, there’s a lot that goes into deploying an on-premises capture system. It’s hard to align all that infrastructure with an organization’s volume, meaning organizations often pay for more capacity than they need. Cloud capture systems don’t require software licenses and hardware, and they come with a transaction-based pricing model that ensures organizations only pay for what they need.
- Seamlessly integrate your systems. Organizations invest lots of money into their LOB applications and other legacy systems. But many on-premises capture systems require organizations to re-key or manually upload data into these systems, creating more work and opportunities for mistakes and data latency. Cloud capture solutions integrate with any legacy application, accelerating the delivery of information downstream and allowing for data to be validated in real-time or processed without human operator intervention.
With cloud capture, organizations can take control of their operations. The technology enables organizations to adapt and scale their operations, reduce wasteful spending on capacity they don’t need, and seamlessly integrate their systems to facilitate fast, touch-free processing more easily.
Interested in learning more about right-sizing your capture operations?
We will be sharing strategies for maximizing human potential through process automation.
Mark Brousseau
Over the past 26 years, Mark Brousseau has established himself as a thought leader on accounts payable, accounts receivable, payments and document automation. A popular speaker at industry conferences and on webinars and podcasts, Brousseau advises prominent end-users and solutions and services providers on how to use automation to improve document- and payments-driven business processes. Brousseau has chaired numerous educational conferences and has served on several industry committees and boards. He resides in Center City Philadelphia with his wife and three sons.
@markbrousseau
Mark Brousseau
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