Stuck on the wrong side of the digital divide? You’re missing out on more than you may know. Along with digitizing paper documents and enabling business automation and effective remote work, our Enterprise Content Management systems feature “intelligent capture.” The next-level technology collects and organizes all of your data, including email and electronic forms (e-forms). It also identifies and extracts key data. One analyst likens the technology to “facial recognition for documents.”
The payoff? Improved operations and profitability by getting the most out of your documents and data. On average, companies who rank in the top third of their industry in the use of data are 5% more productive and 6% more profitable than their competitors, according to a study reported in the Harvard Business Review.
Basic digitization converts paper documents into digital files. But that’s just the starting point for our technology. From there, we add intelligent capture. Intelligent capture enables you to collect information from many formats such as scanned paper records, digital files, email and more. Intelligent capture also leverages patented artificial intelligence algorithms to enable automated document classification and data extraction, eliminating the need for data entry and other manual processes.
The award-winning PaperVision® Capture technology easily and securely collects, organizes, stores and manages digitized paper documents as well as electronic files. Our unique PaperVision® Forms Magic™ technology enables you to classify documents and extract key data for export into your information management system and other business software applications. (Forms Magic is available as an optional feature of PaperVision Capture.)
The technology lets you:
Intelligent capture also works wonders with long legal documents and other hard-to-read materials. Tony Brown, director of innovation and tools at Arvato, says our technologies transformed how their client handles lengthy contracts and other documents that are filled with small print and other complexities. “You can’t automate something you can’t read or look at. PaperVision Capture and PaperVision Forms Magic enabled us to access the critical information we need. Being able to extract the data with artificial intelligence has enabled us to automate the entire business process for our client, saving more than $3 million annually,” Brown says.
In both 2016 and 2019, the product testing lab at Keypoint Intelligence (known as Buyers Lab) awarded Forms Magic and PaperVision Capture its coveted Platinum rating. Read the full product review here. Also, the analysts gave Forms Magic a uniquely created designation of Outstanding Achievement in Innovation, because the use of AI algorithms dramatically improve classification accuracy above the then industry standard. The award recognizes products that stand out for a breakthrough in technology, a unique feature or other noteworthy innovation that moves an entire class of products forward.
A few of the comments the Buyers Lab researchers shared:
Want to turn Big Data into usable smart data? The need is only going to increase. The global datasphere of all electronic information is expected to grow to 181 zettabytes by 2025, a three-fold increase from 2020, according to Statista.
Big Data includes information on paper in addition to the massive increase in digital files. A huge amount of paper records still exist. “In the last 20 years, the combined usage of today’s top 10 paper users has increased from 92 million tons to 208 million, which is a growth of 126%. So the use of computers is not slowing the amount paper we use,” The Paperless Project reports. More than 70% of organizations say scanning paper is still the most important part of their information capture strategy while 75% say information chaos is a major problem for their organization, according to AIIM.
In working to get a handle on your information, a limitation of the basic capture process is its inability to manage large amounts of data and documents without human intervention. In order to perform basic scans of information, some companies resort to hiring fulltime employees who serve as a scanner’s assistants by feeding documents into the scanner and typing or auditing the index data. This slows information availability and hinders business processes. This manual effort costs businesses time and money in productivity hours and the inevitable inaccuracies of hand-keyed information. In comparison, PaperVision Capture and Forms Magic work as part of the scanning process to automatically recognize documents and categorize them by type while extracting data--an approach that virtually eliminates manual effort.
Automating processes is a top priority for businesses of all sizes. It reduces costs and provides other benefits such as better customer service, happier employees and speedier operations. How important is process automation to organizational success? The following statistics paint a grim picture for companies that have not yet started their digitization and automation journey:
The PaperVision product suite enables you to export information into other systems to create business analytics and into process automation tools that route business documents from step-to-step through business processes. These benefits lead to real business growth. As Bob Butterfield, owner of Real Property Management Vancouver, notes: “I knew we could do things more efficiently by leveraging newer technologies and eliminating the archaic paper filing system. … The most common compliments we get [from property owners] are that [owner paperwork] is electronic, easy-to-access and time-efficient. We love what it’s done for our business.”
Don’t settle for a capture application that only works with scanned documents. Leverage the automated indexing and data extraction capabilities of intelligent capture for electronic files in addition to your scanned documents. Running all your records through the same process speeds information organization, better protects sensitive records, and streamlines workflows.
The best capture applications leverage artificial intelligence to “read” and extract key data to populate the index values you’ll use not only to find the document later via keyword search but also to send to your other business applications. For example, if you’re scanning invoices you’ve received in the mail, the invoice number, date, and dollar amount can be automatically extracted not just for indexes but also to send to your accounting application.
A second major benefit of automated classification and data extraction is the reduction in errors. Humans are subject to errors, but automated technologies don’t make mistakes. You’ll instantly improve data accuracy!
Our capture technology safely sends files and information to your Enterprise Content Management system. Avoid the integration hassle, and work only with a company like ours who has written both document management and intelligent capture applications. They’re natively designed to work seamlessly together to protect your records at every step in the information lifecycle. And, you’ll never get stuck “in-between” trying to figure out where something is breaking down between applications from different manufacturers.
As information grows, the need to get control of it becomes more important. The intelligent capture technologies in PaperVision Capture and PaperVision Forms Magic enable you to end information chaos and get the most value out of your documents and data. For more information, visit our products page. To talk with a sales representative, visit our Contact Us page.
Digitech Systems (2016). “Digitech Systems Recognized for Innovation in Forms Processing.” Retrieved from: Digitech Systems Recognized for Innovation in Forms Processing - Digitech Systems, LLC ↩︎
Keypoint Intelligence/Buyers Lab (2019). “Platinum Tested Solution 2019.” Retrieved from: BLI-PaperVision-Platinum-Product-Review.pdf (digitechsystems.com) ↩︎
Statista (2021). “Volume of data/information created, captured, copied, and consumed worldwide from 2010 to 2025.” Retrieved from: https://www.statista.com/statistics/871513/worldwide-data-created/ ↩︎
The Paperless Project (2020). Facts about Paper. Retrieved from: http://www.thepaperlessproject.com/what-are-the-facts-about-paper/ ↩︎
AIIM Best Practices – Incorporating Intelligent Capture in Your Digital Transformation Strategy (AIIM Industry Watch). Retrieved from: https://info.aiim.org/incorporating-intelligent-capture-in-your-digital-transformation-strategy ↩︎
Schubmelh, D. (2014). The Knowledge Quotient: Unlocking the Hidden Value of Information Using Search and Content Analytics. Framingham, MA: IDC. ↩︎
Boyd, Angele, et. al. (May 2014). The Role of Documents: How they Drive Business. IDC: Framingham, MA ↩︎