FormX Product Update - Signature, Address Proof Extraction from Any Documents
FormX has released several features to expedite verification of signatures and address. In addition, users can now extract QR codes/barcodes from any documents.
Data capture is a technology designed to extract data from physical sources (analog data), converting it into useful digital information (digital data).
As technological advances continue to swarm the consumer market daily, many businesses and corporations have found ways to improve efficiency. Using different technologies, the efforts to increase workflow efficiency have been successful, allowing businesses to focus on more hands-on things. Data Capture technology can do the same for your business.
With Data Capture technology, you can save your company time, money, and human resources owing to its automated operation. This technology facilitates the extraction, classification, and validation of various data types for easier management and access. However, to get the most out of Data Capture, you must first grasp what it does and how it works.
Data capture is a technology designed to extract data from physical sources (analog data), converting it into useful digital information (digital data). The technology works for any type of document, structured or unstructured, and data capture technology allows you to pull data from almost any document.
You can extract data from pdf, extract data from image files, or extract data from physical files, to mention a few. Once it extracts the data, data capture technology automatically transforms and arranges it into more readable and useful information stored as a digital file. The Data Capture technology typically works on documents including invoices, receipts, bank statements, contracts & agreements, and even HR forms and applications.
The data capture automation uses multiple methods to help the data extraction process much easier. You can opt to extract data manually or automatically. Furthermore, you can acquire data using technology employing a variety of solutions available to your company. Here are a few of the most common ways to do so.
As the title suggests, manual data capture involves the process of manually inputting data from a document or form into a computer. Due to this manual nature, this process highly depends on human input and attention. However, it can be time-consuming. So, it only works for small businesses or businesses that do not handle high volumes of information.
Automated data capture, on the other hand, allows you to capture data and transform it into digital data automatically. You do not have to type in the data manually. Instead, you can use a series of technologies to do so. This data capture type offers better efficiency as it reduces time spent, labor needed and costs. Here are some of the common methods used for data capture automation:
You can find other types of data capture methods on the market. Different ways are employed to cater to various industry needs. For example, barcodes and QR codes are typically used for automated data capture in the retail and service industry. This helps automate processes such as inventory tracking and management, finances, and managing employee data. Other methods include:
Even with its challenges, data capture technology brings numerous benefits to any business or corporation. No doubt, automated data capture saves time, cost, and labor. However, this is not all it does for your business. Other advantages of automated data capture include;
Although errors are still reported to be a challenge in data capture; however, the risks are not as high. Compared to manual human data capture, automated data capture follows a special sequence overseen by AI. Thus, the risks of frequent errors are significantly mitigated.
Automated data storage automatically extracts data and safely stores it digitally. With volumes of data and information to store, corporations can finally enjoy a safer and more practical way to store and manage data. No more rooms filled with dusty old files!
Digitized data storage also gives you instant and centralized access to any information you want. So, you do not have to visit one department after another to get approvals to get the smallest bits of information from dusty folders buried deep in other piles of folders.
Data capture technology stands out for its versatility, offering a solution for every business or corporation's need. Data capture technology simplifies the work process and ultimately improves productivity, which, in turn, yields better work results and boosts profit.
So, it's now time for you to boost your business efficiency and costs by investing in FormX. Used by countless public and private organizations, FormX offers a selection of tools to improve your workflows. FormX features an easy-to-use and fast API integration that shares data extraction in JSON format.
Amongst its prized features include universal pre-configured data extraction models (that work for pretty much any document type), user friendly, no-code web portal, and simplistic mobile phone scanning. You can try out FormX via its free trial, giving you access to your first 100 data extracted pages.
FormX uses AI to automate data extraction from any physical documents.
The First 100 documents are FREE.
Get started by Signing Up or Scheduling a demo