Why is Automatic Data Capture Critical For Businesses’ Success?

Businesses have been relying heavily on paper document management, whether it is for invoices, archiving, contracts, or account management. Many companies are still using the conventional methodology Scan to Archive, which means they only digitise paper documents for archiving purpose. Unfortunately countless manual errors happen every day because of the old fashion way of processing workflow in an organisation.

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It’s a hectic Monday morning. As usual, John receives many purchase invoices and business agreements both by email and by post. He has to go through them and sort them out quickly in order to pass on to the accounting department so they can meet their deadlines… Now here he goes, forwarding emails to responsible colleagues, holding a stash of papers in his arms and running to accounting department for approval and posting. Done and dusted finally, John gets back to his desk relieved and starts reading some business agreements. But wait, it’s not over yet. David from accounting department rushes to his desk and asks for the missing invoices from last month. In the middle of reading a business contract, John has to stop, re-process his mind and go back to the stash of papers he just went through only to find out that the missing invoices were stuck to the back of a file because of coffee stains! One hour has already passed and John feels this must be one of those productive days at work. Sometimes it could be worse if he misreads the document or enters wrong data in the computer because then the rest of the work flow process will have to be re-done.

Sounds familiar to you?

Yes, manually processing data entry and exchanging paper documents among different departments can be time consuming and costly once mistakes are made. Therefore, data capture at an early stage of the work flow process is critical for your business. There are just so many paperless technologies you can use to improve your document management efficiency. Here we would like to mention a few things which will make your office life significantly easier.

Digitise your documents as early as possible in the beginning of a work flow process

Digitising your paper documents as early as possible in your work flow processes saves tremendous time and money as it is more efficient to handle documents electronically. Everyday business receives documents from partners, customers, suppliers, and so on. It is important to be able to add documents at an early stage in order to reduce manual data entry and manual errors.

There are often two ways of receiving documents nowadays: Via emails and by posts. You can drag and drop documents attached in your emails into PaperLess workspace that integrates with various popular accounting applications such as Sage and Mamut. You can also scan paper documents into PaperLess workspace and handle all the electronic documents without juggling between different windows. PaperLess Printer also helps you to print documents from your computer to PaperLess central system so you keep all your documents organized in one place.

Click to Find out how to automatically manage documents received by email with PaperLess Company Inbox

Extract your document data using automatic invoice recognition

Every business deals with invoices. How to handle these invoices on time and correctly is a critical issue. We often realise after several months that invoices from previous months were not issued and no one in the organisation really bothers to trace them back until the last minute! That is because entering large amount of data from the invoices into your computer can be so tedious that manual mistakes are unavoidable.

Automatic invoice recognition using the smart OCR technology (Optical Character Recognition) can extract all necessary data from your invoices into PaperLess, enabling you to also edit and adding accounting lines and then send them to other colleagues for approval within the PaperLess workspace.

For companies that receive many invoices from the same supplier on a regular basis, you can create a customised template for a particular supplier so next time you run automatic invoice recognition on the invoice from the same supplier you don’t need to edit accounting lines over and over again. The best part is yet to come. You can then post batched up invoices directly into your accounting application such as Sage because PaperLess integrates seamlessly with Sage 50 Accounts and Sage 200 Business Suite. The synchronisation happens in the background instantly.

As you can see, it is very beneficial for companies, no matter how big or small, to use these features that will improve their work flow efficiency. It saves you not only time and money but also lots of panadols! If you have been struggling with your current document management method, try a paperless solution by starting with the above two changes.

About PaperLess Software

PaperLess software is a powerful solution that uses automatic invoice recognition, data input and document matching together with electronic document flow and online document exchange and approval to improve the efficiency of accounting systems. You can now take full advantage of your accounting solution with a simple, smart and secure software that allows you to seamlessly automatize processes and increase your company productivity, profit margins and data accuracy levels.

Check now PaperLess software and see what this powerful solution already implemented in more than 1700 sites across Europe can do for your business.

• Increase efficiency levels with system automation
• Increase Productivity Levels and Revenue Margins
• Reduce operational costs across the entire company
• Communicate live and exchange information with clients
• Gain competitive advantages and differentiation factors

With over 1700 client users across Europe, PaperLess software is integrated with an array of different accounting software (Sage 50 Accounts, Sage 200 Business Suite, SoftOne Professional, UNIT4 Multivers, DI-Business, Mamut Business One, Microsoft Dynamics NAV and AX, Exact Globe and Eyesel Business Suite, etc.) and manages the whole routine from scanning or adding electronic documents to processing them in the accounting systems.