3 Ways Document Capture Is Changing
That nice, comfortable world we knew as “document capture” is changing and it’s ABOUT TIME. Capture is becoming something much more strategic. Here are three key changes I see.
1 – For most organizations, back-end processes are still a mess. That's not new, but the ability for organizations of ALL sizes to actually DO something about it is.
Consider this data from an unreleased AIIM survey of finance types. Here’s the % of finance types answering “A lot of documents are processed as paper documents”:
- Accounts receivable = 38%
- Financial close process = 40%
- Accounts payable = 39%
- Procurement and purchasing = 32%
- Vendor management = 32%
2 – An acknowledgment that Digitalization is different from Digitization. A lot of the focus in our industry has been on turning paper into ones and zeros. And there’s nothing wrong with that, but it just scratches the surface of the potential of the technology. 34% of capture users scan flat images only – 16% for workflow and 18% for archive. Only 41% are using OCR in some form. For most organizations, it’s still a scan to archive game – more about getting rid of floor space than true “digitalization.” The future lies in scan to process, and from there into analytics, or scan to insight. And cloud-based capture solutions with very sophisticated capabilities are now here.
3 – There is a growing realization that Information Capture is THE foundation for Digital Transformation. According to recent AIIM research, 57% agree with the statement, “We are committed to digital transformation, and paper-free is an essential starting point.” An additional 72% agree that “Business at the speed of paper will be unacceptable in a few years’ time.” Capturing information as early as possible -- and engaging customers at the same time via mobile capture solutions -- is key to any transformation strategy.
Free white paper -- The 10 Biggest Mistakes in Choosing a Scanner.
Some additional posts that might be of interest:
- CFOs and Finance Directors – Neglected Players in the Drive for Digital Transformation - Part 1 of 3
- Financial Process Automation -- A Huge Untapped Source of Potential Cost Reduction -- Part 2 of 3
About John Mancini
John Mancini is the President of Content Results, LLC and the Past President of AIIM. He is a well-known author, speaker, and advisor on information management, digital transformation and intelligent automation. John is a frequent keynote speaker and author of more than 30 eBooks on a variety of topics. He can be found on Twitter, LinkedIn and Facebook as jmancini77. Recent keynote topics include: The Stairway to Digital Transformation Navigating Disruptive Waters — 4 Things You Need to Know to Build Your Digital Transformation Strategy Getting Ahead of the Digital Transformation Curve Viewing Information Management Through a New Lens Digital Disruption: 6 Strategies to Avoid Being “Blockbustered” Specialties: Keynote speaker and writer on AI, RPA, intelligent Information Management, Intelligent Automation and Digital Transformation. Consensus-building with Boards to create strategic focus, action, and accountability. Extensive public speaking and public relations work Conversant and experienced in major technology issues and trends. Expert on inbound and content marketing, particularly in an association environment and on the Hubspot platform. John is a Phi Beta Kappa graduate of the College of William and Mary, and holds an M.A. in Public Policy from the Woodrow Wilson School at Princeton University.