Advancements in data capture technology

Jul 30, 2014 by Mark Buchy
HMB Blogs

Capabilities within data capture have evolved to become mature, stable and widely used and relied upon in both commercial and public sector marketplaces. Advanced document classification, separation and data extraction allow organizations to mitigate the traditional pain points in paper and electronic data ingest. IT has allowed forward thinking organizations to focus FTE’s on more high value tasks and organizations to capture existing and institutional knowledge for business continuity. System self-learning and data integration now works in conjunction with OCR, ICR and OMR to provide exception-based and even human touchless processing.

 The two most influential advancements have been the incorporation of mobile capture technology and the use of analytics for business intelligence.

 The incorporation of mobile capture technology. Smartphones, acting as portable scanners, now provide a new channel to securely transmit actionable information into a process. Smartphones can be used to rectify the exception or capture and submit the additional information required for case completion. Smartphones also keep customers apprised of their case’s status and vested in the process. Smartphone cameras can photograph text from any document, translating the image into a data file. That information can then be extracted and indexed accordingly to be completely searchable and accessible. Now assimilating with document management software, smartphones are enhancing overall document flow for businesses. This has created a whole new arena for developers to build Smart Mobile Apps like mobile check deposit or mobile bill pay. The banking industry currently leads the way in mobile capture because of such advancements built around banking processes. Mobile capture has empowered both the customer as well as company employees, agents, field workers and the like.

 The use of analytics or business intelligence. Companies are able to better understand the data they are capturing and how they can make processes more efficient by having a real-time view into them. With more channels emerging and a never-ending influx of information, data must be organized and interpreted seamlessly in order to have a positive impact. With instantaneous classification processes and data extraction capabilities, information is routinely filtered through algorithms and conclusions can be drawn simultaneously. With clear, actionable intelligence available, businesses are able to respond to customers and situations more appropriately.

 These technology advancements have made many more things possible for end users. Gaining access to more data sooner has created a stronger "point of origination." This increased level of access and insight improves intelligence and helps protect personal information.  Smart process applications such as customer on boarding, invoice processing and mortgage processing have all been documented earlier in process. Processes have become more efficient, there is better customer communication, and companies are able to connect systems of engagement with systems of record. In addition to the banking, additional industries like insurance, healthcare and government benefit from mobile data capture capabilities.

 

HMB works with clients to build Smart Mobile Apps that provide seamless data capture and help increase business productivity. Whether in the field, on the road or in the office, mobile capture technology is being used to enhance daily activities. Partnering with leading providers like Kofax, Kodak, Canon and Fujitsu, HMB is able to arm clients with custom applications that provide access to more data and usable information. Additionally, HMB's business intelligence experts can help manage and interpret the data received.

What additional capabilities do you foresee for data capture technology? Interested in learning more about HMB's data capture capabilities? Visit capture.hmbnet.com. 

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