Organizations need automation for their business operations to stay ahead of the curve and expand their profit and productivity margins. By installing automatic systems, organizations can revolutionize their day-to-day business activities and enhance their products and services while catering to their customers more efficiently.
Every department in the company collects humongous data and stores it in several documents. Managing these documents is crucial for all small and big businesses. Modern technology coupled with AI Automation can increase document management efficiency to a great extent.
What is Document Management?
Document management is a process to collect, store, categorize, and recover documents as necessary. While the inclination towards digital data is prevalent, offline data is equally significant. Thus, document management includes the handling of documents present in digital as well as physical form.
Role of Automation in Document Management
An automated system is a seamless way to manage documents. It allows organizations to conveniently and quickly access and revise the required information. Here is how automation is disrupting the document management process:
· Eliminates the risks of manually handling pivotal documents.
· Enables precise document extraction from unstructured documents like forms, contracts, invoices, and so on.
· Reduces the manual document processing costs significantly.
· Streamlines the document life-cycle.
· Allows revision of documents in a flick of time.
· Classifies data and documents based on content, context, and metadata with negligible human interference.
· Increases productivity by reducing the number of repetitive tasks associated with manual document management.
· Enhances document search remarkably.
· Facilitates viewing document history using an interactive timeline.
· Provides instant access to documents at any moment from any corner of the world.
While automation can greatly simplify the document management process, it becomes more articulated with the use of AI. Here's how automation coupled with IDP AI (Lynk) plays a crucial role in document management:
· Real-Time Data Insights: Analyse insightful data in real time to make well-informed decisions.
· Strong Document Protection: Ensure document security with a resilient end-to-end encryption algorithm.
· NLP (Natural Language Processing): Extract contextual data from the documents based on the document's meaning and implement semantic search to retrieve relevant information on demand.
· AI-Driven OCR (Optical Character Recognition): Recognize and process multiple languages in a document (scanned, hand-written, printed). Also, convert non-English languages like Arabic to English.
· Concise Summarization: Obtain a dynamic and crisp summary highlighting the central information of all the documents.
· AI-Assisted Version Control: Keep track of document revisions throughout the document’s life cycle.
· AI-Enabled Collaboration: Provide recommendations like document edits, next steps to be taken, and flagging documents that might have high-risk clauses.
· Designed for Diverse Industries: IDP AI (Lynk) services to industries like retail & eCommerce, healthcare, insurance, legal, and finance & accounting.
Unlock the efficiency of AI-powered automated document management for your organization. Get started with our free trial of the IDP AI (Lynk) solution to experience the future of automated document management. Contact us now at - Contact JediTeck.