Document process automation in 2021.

It’s no longer a secret that smart companies automate their processes as they grow. The more you automate your routine processes – the less your cunning cost is. And cost became especially critical for businesses around the world from 2020.

So, what “Document process automation” is?

Document process automation includes two processes:

– Data entry process: when you collect the data from multiple resources like forms, images, files and then validate the data to manipulate and distribute.
– Document generation process: after you collected the data, validated and distributed the value where needed, you generate a document from pre defined templates with all the needed values. 

How does it work?

1. Data extraction: if you require upload documentation and gather the data from Excel files, for example, or forms, invoices – it is done by OCR technology. There are paid and free OCR software in the market that can be integrated into your software.
For more complex data extraction, image recognition you will require deep learning algorithms  (AI).

2. Data validation: this step is needed to eliminate duplication and make sure the format is correct. At this step, data may be autocorrected or edited manually. 
Also, a third-party tool may be used to validate VAT value, for example.

3. Data enrichment: this is required when you want to add any data into the database, along with extracted inputs. For example, your internal Company numbers based on your historical records or assign these inputs to a certain Project.

 

4. Document generation:

You need to pre-define document templates and for each template map which value to be used from the inputs. 
It may be any document: 
– Contract
– Invoice
– Certificate
– Letter
– NDA
– PoA
any other

You may also integrate a third-party tool to autogenerate e-signature and Company stamp. 

On top of that, you may create an interface for your team and clients to access the documents and information you wish to share, collaborate with them and send notifications. 

I hope this gives you insight into your digital transformation. In case you need some more insights - connect with me on LinkedIn.
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Author: 
 Clément Chevé | LinkedIn
Digital Consultant at ITFAQ Global