Intelligent Data Capture—Critical in Digital Transformation Strategy
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Intelligent Data Capture—Critical in Digital Transformation Strategy

By CIOReview | Monday, January 10, 2022

Intelligent Data Capture ensures that extracted content is sent to the appropriate directories as quickly as feasible. Simultaneously, it ensures that content is accessible only to authorized users.

FREMONT, CA: A well-executed digital transformation strategy catalyzes corporate growth and enables firms to capitalize on cutting-edge technology advancements. With technology upending most old business models, firms must invest more than ever to remain relevant in a cutthroat market. Unsurprisingly, enterprises spent $2 trillion on digital transformation in 2019.

Despite increased technological adoption, information management and the effective use of unstructured data remain a persistent problem for enterprises worldwide. However, with the assistance of breakthrough technologies such as Intelligent Data Capture (IDC), businesses may more efficiently optimize information processing and exploit data.

IDC is the process of identifying and collecting relevant information from physical and electronic documents without requiring considerable user interaction. It enables enterprises to send appropriate papers and extract data for digital information routing.

IDC blends conventional data capture techniques such as optical character recognition (OCR) with strong machine learning models. As a result, the technology enables businesses to turn fragmented content resources into trustworthy information and automatically gather data from forms and invoices.

The machine learning models utilized in this method are tuned for text processing and can extract relevant data from mountains of redundant data. After discovering and confirming useful information, the solution automatically routes it to the appropriate users.

Businesses can automate content ingestion while expediting information routing to the appropriate individuals and systems with the help of this technology. In other words, IDC is the bedrock upon which intelligent information processing is built.

For businesses that regularly generate large amounts of data, manually processing information is tedious and difficult and prone to human mistakes and delays. Regardless of the business, manual information processing is a significant impediment to efficiency.

A digital transformation strategy's primary objective is to assist organizations in capitalizing on technological advancements, optimizing business processes, and accelerating growth. These objectives can be fulfilled with the assistance of an IDC solution.

Nowadays, information is accessible through various channels, including scanned photos, faxes, emails, and invoices, contracts, receipts, claims, and shipment documents. IDC enables firms to automate the time-consuming process of information processing, extract intelligence from mountains of data, and convert it to a human-readable format.

Simultaneously, IDC enables enterprises to arrange data with comprehensive metadata. This increases the accessibility of data for commercial applications and makes it available for AI-powered analyses.

Businesses can optimize critical operational operations across multiple departments with the help of this organized data. In other words, IDC enables businesses to more readily extract important data and provide actionable information to decision-makers.