Get error-free, AI-based data collection from invoices, receipts, driver`s licenses, passports, and other documents. Discover Nanonet`s PDF Scraper to automate data capture from documents. 24/7 availability: Companies operating globally must ensure their availability to customers across all time zones. Similarly, industries such as healthcare, hospitality, and shipping need to have their data available at all times to ensure business efficiency. Automated AI-based data collection helps these companies achieve data availability outside of working hours and without geographical restrictions. Any business that needs to enter data into a database from paper forms or electronic documents such as Word, Excel and PDF files can get a very high return on investment by automating data entry with data extraction software. Data Capture Forms software uses OCR technology to automate data entry tasks with machine-printed forms. If the forms are all in the same format, a simple area OCR can be used to convert specific areas of the page into usable data. Advanced data extraction software is also capable of locating common data elements on forms with many different formats. The most common example is invoice processing, but data extraction can be done with any type of document. Virtually all documents containing data to be entered can benefit from data extraction software. Read on to learn more about data collection, the process, the different methods used, and the benefits it can bring to your business. In general, data collection can also refer to the collection of relevant information, whether from paper or electronic documents.
Optical character recognition can also be a component of data capture, which involves extracting text from scanned or digital documents (receipts, contracts, books, etc.) and converting the results into data for editing and processing. Large companies with massive document capture and data capture projects should use these enterprise solutions, designed to process high-volume orders, multiple departments, and workflows. Using a single corporate information platform with data collection capabilities, companies can: Data is often entered as code into a database, e.B. in the data collection form, Y is used for Yes and N for No. Codes like this are used because they: Better decision-making: Data collection can greatly benefit decision-making. Thanks to the different forms of data collection available, companies can gather more and more information to perform detailed data analysis to ensure faster and more cost-effective decision-making. Technological advances in the field of artificial intelligence (AI) have taken data collection to a new level. This gives employees the most up-to-date and accurate information when they need it, without the redundancies that occur when working with multiple systems. Employees can focus on higher-level tasks and customer service. Data collection can improve business processes by automatically extracting, classifying, and validating relevant data.
Retrieve information faster and more efficiently. Improves security and data storage: Paper documents are vulnerable to corruption and take up space by physically storing them in files and folders. Confidential documents or documents must also be kept separately for restricted access. Data collection removes all these limitations. Encryption protects data from unauthorized access, takes up less space, and backups prevent data loss. Automating data entry using OCR technology has many more benefits than simply saving input time. Before you configure a database, the data must be collected. This can be done using a data collection form. For most companies, the data collection process begins with a form filled out by one person.
Digitizing the information collected makes the data more accessible. A data collection form is designed with specific spaces or boxes. This allows for accurate data extraction, less storage space consumption, faster validation, and shorter search time for information in databases. The process of converting a paper document into live data that you can use is as follows: Automated data collection solutions reduce the amount of manual date collection, reduce costs, and accelerate content in established business and organizational processes. Documents with many possible layouts, unsorted documents that need to be filed, or documents with tables and row data that need to be read. Data collection forms often use fields or a number of spaces, and sometimes provide examples. This ensures that each field is filled in correctly. A form filled out by a customer who buys a car in a showroom is an example of a data collection form.
When used in conjunction with the platform`s content management, process automation, and workflow capabilities, it can be configured to take place at any point in a document`s lifecycle to optimize processes. Data collection can be done using a variety of methods or tools. Companies can use compatible data collection tools, organize workflows, and enable rapid movement of data to the required goals. These tools make the capture process simple, accurate, fast, transparent and efficient. And with connected systems, you can ensure that employees have access to accurate information by: Automated data collection gives companies the ability to streamline the flow of data and track their activities. Let`s take a look at some of the key benefits that automated data collection can offer to improve business efficiency. Although all of our data extraction solutions can be configured to read electronic document data, only SimpleIndex does so without first converting the document to an image and performing OCR on it. SimpleIndex is able to use the original text in MS Office and PDF files and extract data from them using complex model matching algorithms. This process is lightning fast and 100% accurate, and SimpleIndex is a cost-effective application that any business can afford. Improved customer service: Error-free data collection ensures high-quality data to enable a better understanding of customers and customer requirements.
Companies can do better business, attract more customers, and provide greater customer satisfaction while generating better revenue. Eliminate bottlenecks caused by manual data collection. Learn how Nanonets can help your organization streamline data collection workflows. Data collection, or electronic data collection, is the process of extracting information from a document and converting it into data that can be read by a computer. As mentioned earlier, the most important factor in the price of the system is the complexity and volume of the documents and data captured. The total cost of a data extraction solution also includes a few other points: AI technology has significantly improved the way data is obtained and processed. It mimics human intelligence to perform cognitive data capture accurately and quickly. The availability of content in the right place at the right time makes it ideal for a company to better respond to customers/customers and improve service efficiency.
Centralized access: Many companies need data in central locations. With manual data, this is almost impossible, as it means a constant investment of resources to achieve this. Automated data collection enables centralized access with cloud storage as a single solution. This allows different people/departments with access permissions to retrieve the data they need to carry out business transactions without delay. Data collection has been used in one form or another for decades. The data collection method used depends on the type of business and the information required. Collecting data from written forms, emails, PDF files, etc. is made possible by the right kind of technology. Depending on the type and volume of documents and data you have, the cost of the solution can range from a few hundred dollars to tens of thousands. A simple project could justify the purchase of software to save a few days of data entry time. A complex project with many types of documents and unstructured data may need to balance hundreds of hours of data entry to justify the cost. Let`s take a detailed look at the different methods used today to collect data.
Organizations with many separate departments that perform data entry from documents can share the budget of the data extraction software by reusing it for other projects. Your current project may not be big enough to justify the cost, but when combined with one or two others, it would be. Data collection has become an inevitable tool to get businesses to run better and be more productive. The advent of AI has improved the way data is collected to create new opportunities. The data is extremely accurate, easily accessible, and has opened up new gateways for businesses to ensure they stay on top. It`s safe to say that automated data collection technologies have truly become the turning points for today`s businesses! Simple documents have data elements in the same place on each page and can be automated with zonal OCR. Reduces operating costs: Operating costs are incurred in each business and include inventory, rent, payroll, etc. Maintaining manual data for these is associated with huge costs in addition to the susceptibility to human error.
Automatic data collection eliminates additional costs by automatically updating data as needed, leaving no room for error. A classic example of data collection is a hospital pharmacy. Data collection technology is used to extract data for drugs or medical devices billed in sales and to automatically calculate the remaining inventory for those relevant items to ensure a smooth flow of information in inventory management. .