Document &
Data Capture
What is Document & Data Capture?
The Digital Capture Solution we provide at Spectrum Digital allows you to capture data and information from almost any format, including paper documents, emails, electronic forms and countless other sources. This gives you better control and visibility of the data and information that flows through your organisation as early as possible.
Simplifying Information Extraction
Spectrum Digital’s Document & Data Capture solutions utilise machine-learning-based optical character recognition (OCR) technology to capture and extract key information from physical or digital documents and other sources.
For example, the capture technology can be used to extract information such as a purchase order number and product codes from a structured document such as a supplier invoice.
The same technology can also be used to extract purchase order numbers from a purchase order book and/or from goods received notes (GRN).
Reducing Risk and Enhancing Compliance
The capture technology provided by Spectrum Digital ranges from basic, template-based approaches, to dynamic optical character recognition where natural language processing is used to recognise relevant information and concepts within a document or data source.
This technology can be used to reduce risk, improve regulatory compliance, and reduce the time and costs associated with the manual processing of documents.
Reinforcing your Financial Stability
Implementing an effective document management system (DMS) offers significant financial benefits, particularly in the context of audits.
A well-organised DMS streamlines the audit process by enabling quick and easy access to crucial documents, which in turn reduces the time auditors spend searching for relevant information. As auditors often charge by the hour, minimising their time on-site directly translates to cost savings for your business.
A reliable document management system ensures compliance with regulatory requirements and minimises the risk of costly fines or penalties. Investing in a robust DMS not only enhances operational efficiency but also leads to substantial savings during audits, reinforcing the financial stability of your organisation.
FAQ on Document & Data Capture
What types of documents can be captured?
Virtually any type of document can be captured, including invoices, receipts, contracts, forms, emails, and handwritten notes. The technology used will depend on the type and complexity of the document and the information that needs to be extracted.
How accurate is document and data capture?
The accuracy of document and data capture can vary depending on the technology used and the quality of the original document. However, with the advancement in AI and machine learning, modern capture solutions can achieve high levels of accuracy.
How does document and data capture contribute to digital transformation?
Document and data capture is a key component of digital transformation. It enables businesses to digitise their paperwork, automate manual tasks, and use data more effectively, leading to improved decision-making and operational efficiency.
Is document and data capture secure?
Document and data capture systems can include a range of security features to protect sensitive information, such as encryption, access controls, and audit trails. However, as with any system that handles sensitive data, it’s important to ensure that appropriate data protection measures are in place.
How can a company implement document and data capture?
Companies can work with a technology provider like Spectrum Digital to select the appropriate document and data capture solutions for their needs and integrate these into their existing workflows. This typically involves a phase of planning and analysis, followed by implementation, testing, and training.
Can document and data capture be used for handwritten documents?
Yes, advanced data capture technologies like ICR (Intelligent Character Recognition) can be used to extract data from handwritten documents. However, the accuracy can depend on the legibility of the handwriting.
What is the future of document and data capture?
The future of document and data capture is likely to involve even greater use of AI and machine learning, which can improve the accuracy and efficiency of data extraction. We may also see more integration with other technologies, such as cloud computing and blockchain.