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Ending the Era of Corporate Data Chaos

Today, more than 90 percent of enterprise data, or about 35 zettabytes, are unstructured. By 2020, there will be enough to fill 8,000 billion DVDs each year.

For several years we hear about information management initiatives but for most organizations, Big Data is just a mass of data and creates a real chaos of information.

According to PricewaterhouseCoopers and Iron Mountain, 43% of companies receive little tangible benefit from their information, while 23% do not get the least benefit from it. Organizations unable to capture information efficiently from paper documents and integrate it into digital workflows face complexity in their processing, and thus loss of opportunity. Many companies do not know where to start to end this chaos of data but it is essential for their productivity and competitiveness to find a solution to this problem.

Starting from this observation, there are five strategic areas in which digital transformation can be the key for large companies as well as for SMEs:

1. Mail and correspondence management

Over-reliance on paper and the need to enter data manually have historically been the main challenges businesses have faced in managing their correspondence. All this represents a net loss of productivity that could be avoided by the introduction of powerful scanners and document capture solutions.

2. Customer incorporation and retention processes

The digital transformation of companies undoubtedly brings greater reliability of data and a fluidity of information, while generating productivity gains. And it is certain that the disappearance of traditional data management will, in the future, lead to an upsurge in innovation, an increase in growth, an increase in the efficiency of workers and a better service to customers.

3. Payment Management

Many companies still base their payment processes and transactions on paper documents. It takes a lot of time to count invoices with purchase orders, deposits and search authorizations.

4. Forms Processing

Working with paper forms is time consuming and leads to many mistakes. New technologies make it possible to quickly scan all these forms, archive them automatically and convert all types of files (claims invoices and commercial documents) into high quality images. Some technologies even allow:

  • Intelligent exception handling that ensures immediate validation of forms so that all information missing from a transaction is identified and filled in.
  • Intelligent barcode scanning that produces the most accurate data extraction results and eliminates the complexity of the configuration process.
  • Intelligent task selection that uses separator sheets with specific patch code to automate switching between tasks and profiles. This improves productivity by minimizing downtime between jobs.

5. File Management

Digital file management offers many advantages over paper-based solutions. These benefits include the ability to synchronize information by reducing the risk of error, facilitate regulatory compliance, and provide quick access to critical business documents, provided that scanners and software are used to eliminate the complexity of capturing critical data.

The digital transformation of companies undoubtedly brings greater reliability of data and a fluidity of information, while generating productivity gains. And it is certain that the disappearance of traditional data management will lead, in the future, to a resurgence of innovation, an increase in growth, a gain in efficiency of workers and a better service to customers.

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