Manual data entry means losing time, money, and your employees’ enthusiasm. But even though you might know that AI-based automation can easily help you deal with it, you might have doubts. Is it costly? How tech-savvy should I be? Who to approach with the automation solution? This article will answer these and more questions.
What do you lose using manual data entry in your business operations?
Even though entering data manually is not business-wise, you are definitely not the only one using this traditional method. It is still widely applied across businesses—be it customer details in insurance documents, product specifics in, e.g., clothing, or data from manufacturing machines. If you have started to search for an automated solution to help you with data entry, it is usually because of one of these reasons:
1. You do not want to waste time and money on executing repetitive actions.
Most manual data entry consists of the same processes. It is numbers, names, and words that change, but the process itself is very similar, even in different industries. And even if you take your fastest employee, they would still be incomparably slower than an automation tool. By implementing an automated solution, you not only gain employees’ time for more important tasks but can use their potential for developing your business—bringing you more money.
2. You want to avoid frequently appearing human error issues.
Again, it is not that we would not trust your (best) employees, but it is easy to make one or several mistakes when entering data. And since this fact is supported by several studies (one of them proving that the probability of a human error when entering data into spreadsheets manually can be between 18% and 40%), we believe that you yourself remember the last time a human error occurred in your operations. While sometimes, it can only cause a funny moment, other times, it may have a highly negative impact on business operations.
3. You do not want to work with unmotivated people.
In former times, manual data entry was inevitable, and there were specific job positions for that. But nowadays, nobody likes to spend their time with manual data input. And that is good; people want to be more productive, work on meaningful tasks, or even create something. To get the best of your employees, you should allow them to focus on taking actions only humans can do.
Enter data using Intelligent Document Processing from Docbyte:
Remember that you want to benefit from data instead of being their slave. So save yourself a lot of time and—once you decide to go for automation tools—think of them as an ecosystem rather than a one-function solution. Look at the easy-to-use automated tools of Intelligent Document Processing. Push your business processes to a whole new level while keeping the hands and minds of your employees free.
Classification And Extraction of (data from) documents:
No matter the system you are using now, our pluggable ML-based module for the classification and extraction of documents will access and extract any data you need from any documents you work with. That means your people will not have to dig through tons of physical or e-documents, search for data, and re-enter them into new forms. Our solution will find, extract, and organize important data for you.
Instead of reaching out to your customers and asking them for personal details for verification reasons, offer them an upload portal where they simply upload or drag and drop required documents. Moreover, you will not need to process these manually, e.g., by rewriting the ID card’s number into a spreadsheet. Smart technology will read this information and send it directly to the appropriate department.
Manual processing of incoming e-mail documentation requires an enormous focus—incoming e-mails are often not structured. On top, they contain crucial information in the attachments, which can be in different formats. And while you might think that the human workforce would be a perfect fit to decipher these, the truth is that so do intelligent automated tools. Just much faster and more accurate.
Do you need to store your data, too, in a specific, law-compliant way?
Automated data entry and intelligent data processing go hand in hand with storing data. Since almost everywhere in the EU, companies have an obligation to store business data for at least a certain time period, it is our good advice to think of storing data in a law-compliant way with the help of archiving solution tools.
Where can data entry automation help the most?
Of course, you do not need an AI-based automation tool if you process one contract daily. But everywhere the huge amount of data appears, solutions like this make sense—they save time, money, and people’s energy. These are the most often business fields where our solution helps:
End of manual data entry in the Financial Industry:
Our tools take into account KYC, AML, MiFID II, Digital Act, eIDAS, and other regulations. Invoice data automation without the risk of human error is a game-changer for many companies. With the additional tools, you will also smoothen the verification process of your customers.
Automation instead of manual data entry in Insurance:
The most common regulation challenges can be easily faced with Qualified Electronic Archiving, Correspondence Management, and Preservation of Digital Signatures and Seals. In countless insurance processes containing work with customers’ data, automated data entry and further processing of data with intelligent automation tools can change the whole workflow and customer relationships.
Automation in Healthcare:
There are several options for automation in healthcare. The one that most professionals and patients have witnessed is a situation when a healthcare professional has to input a patient’s data manually into electronic software. Imagine how much time doctors could skip this part—and they can.
Automated data entry in corporations and bigger firms:
For big players, automated data entry is a must. The amount of data that is processed daily is simply too high to handle manually. Otherwise, the companies would have to hire people only for this job, which they, unfortunately, also often do. But that is much more expensive and inaccurate than using Docbyte tools for data entry.
How expensive are the solutions that free you from manual data entry?
Rather than selling an off-the-shelf product, in Docbyte, we focus on your individual use case. We consider the size of your company, the data you need to process, and your current workflow and software.
Machine Learning and Natural Language Processing are the two artificial intelligence types and approaches we use the most. In other words, our tool will learn with every data it extracts and enters.
Like this, we can offer our clients individual adjusted price estimations. You do not need to be extra tech-savvy and delegate a whole new task to your IT department. Our tools are working and will be compatible with any system you use.
Request a call today and let us save you time, money, and employees’ devotion by replacing manual data entry with an AI-based automation solution.