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GIA predicts Growth in Data Capture Solutions

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June 06, 2014

GIA predicts Growth in Data Capture Solutions

By Mini Swamy, TMCnet Contributor

Do we want to waste precious time trying to manually get information from the huge volumes of data that overwhelm us? Definitely no! This is particularly true in an era that is, according to global Industry analysts (GIA), being dominated by automated data capture and document scanning services.

GIA believes that the growing need for accuracy in data, stiff compliance requirements and expanding business process applications across many sectors in industry will be the triggers for this market.

In this context, SoftCo advocates its document management solutions and reports its automated data capture and forms processing solutions are rapidly becoming an essential component of business processing. With its wide range of feature- rich, image enhancement and validation tools and automatic document controls, it claims to increase speed and enhance system performance.

“SoftCo’s intelligent capture solutions enable organizations transform high volumes of documents into actionable data for use in vital business processes,” commented Robert Hickey, senior project manager, SoftCo.

The company’s capture solutions such as WebCapture and Invoice Capture services extract key information from any type of business document and feed the data into business applications. The key here is that it can receive and extract data regardless of the format.

According to Hickey, these data capture solutions when combined with business process automation will help organizations reduce cost, ensure compliance and minimize risk.

This is because SoftCo document management solutions help gain control over paperwork, making it easy to track and manage. Electronic files are indexed and archived and a record of the document from creation to storage is there for all to see. Such visibility improves business intelligence and increases productivity.

In fact, SoftCo customers claim that the company’s document management solutions have helped them reduce 80 percent in direct costs, enhance productivity in contrast to is manual processes while improving efficiencies and delivering compliance.

That being so, GIA’s forecast of an increased uptake of document capture solutions with a market growth of over 12 percent by 2016, could well be on the cards.

Edited by Peter Bernstein

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