The Pain:  Inefficient productivity levels

Productivity is key to providing a quality product or service. And yet, most companies that maintain a productive workflow in their core competency are woefully unproductive in some of their more administrative tasks, such as document processing. Unfortunately, this inefficiency can cost them hundreds of thousands of dollars in hidden costs each year.

The pain of inefficient productivity in document processing is evident from the following:

• Time-consuming manual data entry: Manually keying critical data off thousands of documents a week and into an ECM, ERP or financial database takes time and is a hindrance to productivity. And when document volume increases but staff numbers don’t, backlogs are inevitable. Added to the burden is the time devoted to correcting human error in your system due to manual entry. Vacation and sick time, attrition and a host of other issues do not lend themselves to a productive document processing environment, either.

• Slow decision making: Stalled approvals for projects or vendor payments can significantly reduce your company’s productivity. These delays often are the result of the following factors, and more: erroneous data in workflow applications that influence decisions; manual data entry; incomplete data extracted from documents; lack of database information for reporting; and slow and inefficient processes throughout the enterprise.

• Inability to measure productivity effectively: Without the proper metrics in place, determining the level of your document processing productivity is difficult at best. As a result, your company cannot determine if the process is cost-efficient or a drain on the corporate economy.

To cure the pain of inefficient productivity, you need a solution
with the following capabilities:

• Automated data capture: By implementing an automated document and data capture solution, your company can virtually guarantee a dramatic increase in productivity. The same volume of documents, and more, can be processed with far fewer staff members. The remaining employees can be better utilized in more business-critical tasks, which is another boon for productivity. Backlogs dwindle or disappear entirely. And with the process under control, time off and attrition have little effect on productivity.

• Access to data required for prompt action: When data is available and accessible, decisions can be made quickly. With an automated solution, all of your company’s document data get extracted automatically and accurately and are then transmitted for entry into your ECM, ERP or financial database. Database table lookups added to the process validate and make readily available background data on your documents based on background information residing in your back-end system.

• Process monitoring: By adding a software tool to your company’s document and data capture solution, you get the benefits of real-time monitoring, graphical analysis, performance alerts and reporting on your document processing. Doing so allows you to determine the productivity level of your workflow and/or the staff involved and take measures to correct it as needed.

Learn how a $1.8 billion company increased AP and AR processing productivity by 60% without adding additional personnel.  With an AnyDoc solution in place, the company is able to maintain data accuracy and productivity as the company continues to grow.

AnyDoc Software develops products and solutions that are designed to make your document and data capture processes as productive as possible.