3 signals that indicate a shift of document-centric processes from manual processing to automation

What do the Banking, Insurance, and Healthcare industries have in common? These industries have set their foot forward in automating their document-heavy processes. According to statistics, documentation accounts for more than 21% of daily productivity loss. Can you afford it?

Here are three signals that indicate a shift of various document-centric processes in enterprises from manual processing to document intelligence in 2023.

1. Cost Effectiveness - Far-sighted companies consider automation a strategic investment rather than an expenditure. Hence, incorporating Intelligent Document Processing reduces the need for extensive labour and minimizes paperwork, overhauling, and maintenance costs.

2. Time-Saving - Every organization wants to save both - time and money. While the shift of document-centric processes in enterprises from manual to document intelligence takes care of the monetary savings. Intelligent Document Processing is also time-saving.? The choice is yours. 3 hours, six errors, or 15 minutes of error-free documentation.

3. Enhanced Workflow Efficiencies - Automation takes care of repetitive and monotonous tasks. On the other hand, employees can focus on core business processes and revenue-generation activities. Automating business processes allows enterprises to achieve better results with fewer efforts.

Moreover, it is expected that Intelligent Document Processing, the global market will record $1.97 trillion in 2022, achieving a compound annual growth rate of 16.7%.

Don’t miss out on progress. Click on this blog by KlearStack to know all about shifting to OCR tech services for invoice-centric processes.