The Advantages of Data Capture and Document Processing ... · The Advantages of Data Capture and...
Transcript of The Advantages of Data Capture and Document Processing ... · The Advantages of Data Capture and...
The Advantages of Data Capture and Document Processing Software to Streamline Accounting Processes
Brian Mackintosh ABBYY Canada Country Manager
ABBYY h6p://www.abbyy.com
Tasked with manually archiving, processing and entering high-volumes of contracts, forms and invoices?
What are solutions that can increase productivity and create a paperless office?
How Can OCR Help? How can OCR software help manage the various types of financial documents?
• Optical Character Recognition (OCR) enables conversion of images, received from a scanner or digital camera, and PDFs to editable and searchable text documents
• Eliminates the need for retyping or reformatting • Information locked in PDF file can be easily changed,
updated and used
How does OCR work? Three stages: Scan paper document Recognize Save in convenient format
How Can Data Capture Help?
Accounting Challenges
Manual sor?ng of forms, invoices, and documents
Error-‐prone manual data entry
High-‐volumes of paper documents that need to be filed
Benefits
Accelerate invoice entry
Reduce cost by elimina?ng ?me consuming manual data entry
Ability to provide be6er customer service with faster response ?me
Enhance financial repor?ng capabili?es
Increased ?me for higher level tasks
How does Data Capture work?
Single Point Entry
• Data Capture solutions can, convert, verify, index and export searchable PDFs and office formats to backend business systems
• Automates any kind of documents including fixed forms ,semi-structured documents, and unstructured documents
The Document Processing Workflow • Process from 1,000 to 3,000 forms per day depending
on the complexity of the layout
Use-‐Case:
• Bank for Foreign Trade of Vietnam (VCB) is known as the most pres?gious bank in trade, finance, interna?onal payments and other banking and financial services, including loans for businesses
• Prior to the company implemen?ng Data Capture soRware, bank employees entered data manually spending a half an hour per applica?on
• Data Capture soRware recognized financial reports of the customers in Vietnamese
and extracted the necessary data and feed them into the credit scoring tool to process and make decision about the loan
• Within one year the Bank made loan decision-‐making process much easier and faster
both for the customers and themselves
• Now loan processing takes only 4-‐5 minutes to feed the data from the customer’s financial report into the credit scoring tool
Is your business going mobile? • With Mobile Data Capture, financial organiza?ons can provide easy access to services , shorten their reac?on ?me, reduce costs and streamlining data communica?on with customers, partners and employees
Benefits of Mobile Data Capture User Scenarios: For Financial Professionals:
• Capture and process information on the go 24x7
• Mobile applications/services to save, access, route and share documents/files, all remotely
• No paper backlog to manage at the end of the day
• International travelers can use their mobile phone as a translator
• Use standard mobile handhelds and extend your product offerings into new and emerging markets in lieu of expensive dedicated data capture devices being used today
Benefits of Mobile Data Capture
User Scenarios: For Financial Organizations:
• Instant “sign & send” (NDAs, P.O.s, contracts, faxes, etc.)
• Accelerate circulation of information (whiteboards, news , etc.)
• Corporate policies on email can be fully enforced (security & confidentiality)
How Mobile Data Capture Works?
Four Steps of Mobile Automation: Using Mobile Phones and Cloud for Data Capture
1. Capturing documents on a mobile phone helps reduce paper and saves valuable space. Take a mobile picture of a receipt while on a business trip.
2. Full-text back file conversion upload filed images of documents into searchable formats on the backend system. Send receipt image to the cloud and upload into company backend system.
Cont. Four Steps of Mobile Automation: Using Mobile Phones and Cloud for Data Capture
3. With a Document Management System, mobile images of documents are organized and easily accessible. Receipt image is easily organized by finance department, all while you are still on your trip. 4. Implementing Data and Document Capture creates data that is searchable and fully accessible via the cloud on a mobile device. Finance department can access receipt to file and
Implemen?ng Mobile Capture Shipping documents
e-‐banking
Receipts
Use Case: Docuware
• Docuware Mobile gives remote employees a way to seamlessly synchronize their documents in order to maintain data consistency throughout the organization
• The application allows users to
access an invoice on their Smartphone and then place an electronic stamp on the document. Workers can do it from home or on the road and forward it back to the office/accountant where employees can eliminate processing delays
Brian Mackintosh ABBYY Canada Country
Manager ABBYY
h6p://www.abbyy.com
Thank You!