The business world is rapidly moving towards a paperless environment and businesses have started to realize the importance of digitizing their business records to gain an edge in the digital business landscape. After creating digital copies of paper records with the help of document scanning services, you need to plan a faster, more efficient way of storing, searching for and retrieving the records, and this is possible with document automation. Document automation is the use of software to process received documents and make new documents. It enables generating new documents, assembling documents into one set, and storing and managing documents.
Document Automation Trends in for 2022
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Document Parser: Manual data entry is a stressful task for all organizations. It is very time-consuming to locate a document, examine the contents and other information in it, and this is a repetitive process that can cause errors. So, many organizations are automating this process to save time and effort. A document parser helps with minimizing the processing time from hours to minutes, prevents data entry errors, facilitates better decision making with accurate data, and ensures improved document security. It helps with streamlining your entire data entry process.
Document Parser: Manual data entry is a stressful task for all organizations. It is very time-consuming to locate a document, examine the contents and other information in it, and this is a repetitive process that can cause errors. So, many organizations are automating this process to save time and effort. A document parser helps with minimizing the processing time from hours to minutes, prevents data entry errors, facilitates better decision making with accurate data, and ensures improved document security. It helps with streamlining your entire data entry process.
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- Email Parser: This is similar to the above-mentioned point. It aims at extracting information contained within emails. For businesses, most of the data comes from emails. So, using an automation tool that can accurately extract that data is the best way to process emails. It helps to save time, effort and money. Automating this process helps to have a seamless process of moving email attachments to your system.Source
- Artificial Intelligence: Artificial Intelligence is the use of digital data, digital sensors, remote inputs and a combination of information from different sources to derive valuable insights. It also makes finding documents with keywords considerably easy, and your employees need not waste their valuable time. In 2022, Artificial Intelligence in document automation will become more popular in all industries.
- Machine Learning: Machine learning is a branch of Artificial Intelligence wherein data and algorithms are used to imitate the way humans learn, improving accuracy progressively. Historical data is used as input to forecast new output values.
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- Handwriting Recognition: This tool combines Advanced Document Capturing and Machine Learning to identify and extract text in handwritten documents such as medical formsor cheques. It can also recognize and extract information written on touch screens. It also memorizes a person’s handwriting and improves recognition output. Apart from extracting information, it also helps with identifying keywords, translating handwritten content to another language, converting speech to text, and identifying text and images. Three industries that can benefit more from this trend are education, healthcare and field services.Source
- Structured Data: It is one of the most popular automation tools. It helps to have an organized and structured database because it follows the structure and a set of rules. Structured data includes information such as list of names, addresses, phone numbers, purchase history, or social media followers. Structured data tools can quickly automate these within a minute.
- No-code: Almost all businesses use mobile apps and mobile app developers use no-code system in mobile app development. No-code solution allows non-developers to develop customized business apps and document automation. No- code tools simplify complex IT procedures. No code system can be also used for training, deploying machine learning, and testing without leveraging IT resources.
- Cloud: It is software that is accessed using the Internet that can store huge volumes of databases to manage physical servers themselves or run software applications on their own machines. Businesses now use a hybrid solution that uses a combination of private and public cloud servers to manage data.Source
- Contract Automation: This helps with generating, storing and managing contracts using software and also with the assistance of legal professionals. It automates contracts like non-disclosure agreements, employment offers and so on. Businesses usually use legal document templates to fill out the details, which are later sent to the legal team. But with contract automation, this process can be quickened.
This process helps to save time, minimize risk of errors, avoid bottlenecks in contract workflow, keep one version of each contract, gaineasy access to contract, scale the business and ensure security of legal documents.Contract automation is popularly used in the insurance industry due to its efficiency and durability.
- Natural Language Processing: Just like machine learning, natural language processing is also a branch of Artificial Intelligence that involves interaction between human language and computers, documenting what has been said into a computer for automation. Natural language is useful for processing large volumes of language data.
Document automation has become important in all industries, as it helps to make the process of storing and retrieving documents so much simpler. From banking to healthcare, businesses across the globe are digitizing their processes and records with the help of document scanning solutions to optimize operations and boost efficiency. More and more companies are moving towards document automation. This is a great way for businesses to streamline their operations.
