Turn Data Into Savings With Smarter-Than-Ever Software

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This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.

We are living in the midst of the digitization and automation revolution, with companies both large and small embracing opportunities to transform their businesses for the better. In this era of transformation, many companies are going back to the drawing board and seeing how emerging technology—like artificial intelligence and machine learning—can increase efficiency and innovation and, ultimately, save companies money. 

Only a decade or so ago, AI was a plot point in a science fiction TV series or a method of making human-centric roles obsolete, but now, it’s becoming commonplace—and for good reason. Business owners and their staff are beginning to see how harnessing AI doesn’t remove human-centered roles—it restructures them, automating manual busywork so employees can focus on and complete tasks uniquely suited to their intelligence and social-emotional skill sets. 

Why Analog Isn’t Going Anywhere 

One major trend that is making big strides in increasing efficiency is intelligent document processing (IDP). IDP tools are more frequently (and often first) deployed as automation solutions for businesses across industries. A 2022 McKinsey report found that IDP allows companies to bridge the gap between the analog and digital worlds. 

Even though our world becomes increasingly digital year after year, this doesn’t mean old-fashioned paper documentation is officially out. Many still use paper in their processes and record-keeping and need help extracting insights and information from an overflow of paper documents collected over the years. Companies that can marry the analog and digital worlds will improve performance in years to come. 

How Innovations In Technology Can Help

Modern advances in AI and machine learning aren’t replacing old methods of communication, but better informing them, and in many ways, they are giving them new life. Faster, more accurate data processing is imperative in this increasingly complex, digital age. Luckily, emerging technologies can help. 

Well-implemented IDP solutions increase employee productivity and operational efficiency by capturing and illuminating valuable data that would otherwise have gone unused. In the long run, this can save organizations both time and money, as increased efficiency with minimal errors and better data insights can only lead to positive financial outcomes. Think about it this way—going through and gleaning data from stacks and stacks of paperwork is a highly time-consuming task.

Many employees are already saddled with the day-to-day responsibilities of their work and don’t have adequate time to dedicate to sifting through paperwork. And if they do, there is always room for error. Intelligent document processing ensures accuracy, giving people the time necessary to complete their daily tasks and ensuring that the job is still getting done. This can only increase an organization’s bottom line.

Operations and IT teams need to have a deep understanding of the needs of each business unit to apply these solutions effectively. Evaluating an organization’s readiness for IDP, designing an effective IDP implementation plan, and determining how to properly utilize this technology is imperative for success, and working with a trusted partner makes a difference. Some companies, like ibml, have already developed the scanners and software businesses need, and beyond that, they act as trusted partners throughout the process of moving analog data online. 

Their solutions aid in customer and employee onboarding, mailrooms, and anywhere in your business where you need to consolidate and analyze documents and data. End-to-end capture solutions scan paper documents, while data processing software takes every piece of information captured and—with speed and accuracy—harnesses accurate insights and stores those insights in Cloud capture software. 

Finding the right solutions can maximize business continuity, growth, and innovation, and these things only lead to increases in financial gain. In a world where technology is always changing, companies must evolve with the times to stay ahead. While AI and machine learning can appear intimidating, they hold the key to unlocking a bright future full of innovation, efficiency, and savings for businesses across industries. 

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.