Advanced Data Capture Overview
Industry statistics suggest that 90% of enterprise content is unstructured. Valuable, confidential and business-critical data is buried in organizational documents and is difficult to find and manage.
Advanced Data Capture is a technology involving software and hardware that can classify, extract and validate information from business documents, thereby reducing manual data entry and document processing efforts.
The various technologies and techniques used in ADC, the key players and the uses of ADC in different industries are summarized below and in the attached spreadsheet.
TECHNOLOGY AND TECHNIQUES
Advanced Data Capture techniques include enhanced Optical Character Recognition (OCR), image comparison technology, Content/Flow analysis, document cleansing, PDF interpretation, and other techniques that enable organizations to extract intelligence and unlock value from their unstructured content.
RPI Consulting are some companies that offer products and services for Advanced Data Capture.
ADC IN DIFFERENT INDUSTRIES:
Advanced Data Capture technologies are being used across industries to significantly reduce the cost and effort involved in manual data entry and processing.
It is used in the finance industry for mortgage loan processing, opening of new accounts, credit card application processing, check fraud prevention, etc.
In the healthcare industry it is used in patient registration, capture of patient records, and in billing and claims processing
In industries like insurance, education, BPO, and in government, it is used for the conversion of scanned paper, images, and PDFs to editable documents, in the creation of high-volume searchable archives creation, and in high-volume document, form and invoice processing
Forrester Research predicts that in the next five years advanced data capture platforms will incorporate analytics, business process management, case management, and stronger integration with enterprise production platforms.
In conclusion, Advanced Data Capture is an area which has seen large-scale adoption across industries. It has helped to reduce costs, labor, processing time and the scope for human error, thereby helping enterprises to become more efficient in their document strategy. ADC is expected to become evermore powerful and widespread in the future years.