The long-term value of accurate data capture
Data is everything
When you get data capture right, your organisation is empowered to gain actionable insights and provide exceptional service to your clients. When you get it wrong, technology upgrades can cause more harm than good.
In order to leverage the cost-reducing and time-saving benefits of the latest technology, it’s crucial that your organisation prioritises the capture of data in an accurate, accessible and structured format. This enables data elements to easily be linked and allows valuable business insights to be readily revealed.
The interoperability challenge
Traditionally, organisations looking to capture unstructured data to fuel process mining and insight projects have relied on traditional capture technologies like electronic data interchange (EDI), data ‘flip’, outsourcing or even optical character recognition (OCR).
These technologies have much to offer if implemented correctly, but this isn’t always the case. Another challenge is uneven adoption among suppliers and buyers, leading to a lack of interoperability.
Harnessing the full power of technology
As Jim Collins has observed,‘Good is the enemy of great’.
Often, organisations adopt technology solutions with sub-optimal outcomes because they believe they don’t have the time, money or resources to change their approach. Many organisations are unsure how best to integrate the technology into their existing workflows or they choose to ignore implementation because they believe it’s too complicated and expensive.
Instead, they introduce workarounds or simply accept that technology can only deliver a certain level of performance due to technical, financial and operational barriers. The result is that data quality suffers and businesses end up basing decisions on flawed or incomplete data.
We all know how fast technology is moving
The potential impact that RPA, machine learning and AI can have on our everyday lives is substantial. To deliver on their promise,
we need to ensure that the data we feed into the to of funnel is as clean and complete as possible. This means keeping a laser-sharp focus on ensuring data capture is 100% accurate.
Think of it as an investment in the future of your business – one that will reap dividends once technologies like machine learning become truly accessible and affordable.
The right capture technology for the right source. Today, many organisations are investing heavily in digital transformation. These projects come in all shapes and sizes. By adopting the right capture technology for the right source, outcomes are always more accurate and complete.
When it comes to digital inbound invoice automation, Pitney Bowes’ pain-free accounts payable digital invoice processing platform fits seamlessly into existing IT architecture, software, and workflows. We use an analytical capture programming language that allows us to extract and process data from any digital invoice with 100% accuracy, removing the need for unreliable Optical Character Recognition (OCR).
There’s no need for data input, no time wasted and no costly mistakes. By switching to our solution, you can remove manual data entry almost entirely and maximise your inbound processing.
This creates savings in excess of 80%.*
We will manage our technology on your behalf, around the clock, taking full responsibility for the accuracy of the processed data, so you can be certain the exact information you need is extracted from your invoices. Our software picks out errors, populates data into your system and offers you reporting and analytical information.
When you leverage the capabilities of automated data capture, you can make decisions more quickly, increase overall agility, and free up your finance team from repetitive manual tasks. The advantages you realise will benefit your business for years to come.