Improving Turnaround Times With Automated Document Processing

Many organizations must navigate through time-consuming document processing. Employees often find themselves scanning through emails, entering data points, and managing physical documents, which can become cumbersome and tedious. Complexities grow as data entry errors or poor organization threaten efficiency.

Businesses seeking to enhance turnaround times can implement automated document processing solutions to address these pain points, resulting in time and cost savings.

Benefits of Document Automation for Businesses

Implementing automated solutions can elevate operations and increase competitiveness. Manual document processes often suffer from challenges like process inefficiencies, increased error rates, and higher operational costs. As a result, businesses must work harder to remain competitive and meet compliance requirements. 

Automation creates opportunities to save time and money while improving turnaround. Automating document processes delivers benefits such as:

• Increased efficiency: Document automation streamlines time-consuming and repetitive tasks such as document creation, data entry, and formatting. Automating these processes allows employees to focus on higher-value tasks that require critical thinking while speeding up document workflows. 
• Reduced errors: While manual document creation is prone to mistakes like incorrect data entry and formatting inconsistencies, automation minimizes error risks. Automated solutions can standardize templates, pull information from reliable sources, and create consistent, predictable processes.
• Cost savings: Reducing the need for manual labor allows businesses to lower operational costs over time. Although automated solutions require an initial investment, these technologies reduce expensive errors and optimize resource allocation, delivering long-term cost savings.
• Enhanced compliance and risk management: Many industries must follow strict regulatory requirements regarding documentation. Automation helps businesses meet these standards by ensuring documents adhere to compliant processes and contain necessary information. Automated audit trails and version control further meet compliance needs by making it easier to track document changes and access.

How Automated Document Processing Improves Turnaround Times

Automation has become a top trend in document management across industries. Automated document processes streamline workflows, improve accessibility, enhance security, and enable smarter decision-making. Document processing automation improves turnaround times in different ways.

Automated Data Extraction

Automated data extraction uses advanced technologies, like machine learning and natural language processing, to pull relevant information from reliable sources. As documents arrive in a business workflow, the automated system recognizes, extracts, and categorizes relevant data fields.

For example, during invoice processing, the system can extract information like invoice numbers, vendor information, and total amounts, regardless of the original document’s format. This process eliminates the need for manual data entry while reducing the likelihood of errors.

These systems can process documents automatically, allowing teams to maintain a steady workflow. Industries like healthcare, banking and finance, and insurance can especially benefit from this process, as they often rely on timely processing to uphold customer or patient satisfaction and regulatory compliance.

Intelligent Character Recognition

Intelligent character recognition (ICR) accelerates document processing by transforming unstructured content into usable digital data with high speed and accuracy. ICR uses advanced machine learning algorithms to interpret and convert handwritten characters and mixed-format documents into machine-readable data. This capability is extremely valuable for industries where forms and records are often completed by hand, such as banking, healthcare, and government services.

For example, when a customer submits a handwritten insurance claim, ICR can scan and extract information like policy numbers, names, dates, and addresses. This automated process eliminates the need for manual data entry and reduces the chances of error.

Teams train ICR systems with vast datasets and handwriting samples, allowing the systems to improve accuracy and adapt to different languages, writing styles, and document layouts. As a result, these systems can process large volumes of unstructured information in parallel and work continuously to streamline document processing. 

You can integrate ICR solutions with workflow automation tools and document management systems for enhanced efficiency. After extracting information, it automatically routes to the appropriate employee or department or triggers follow-up actions. As a result, information flows quickly and efficiently.

Workflow Automation

Workflow automation involves using software to manage document tasks within a company. Automated document processing achieves faster turnaround times with workflow automation by orchestrating and streamlining the entire document handling life cycle, from receipt to final archiving or action. This approach minimizes delays and ensures every document is processed consistently.

When documents enter the system, workflow automation can classify them, extract information, and route them to the appropriate individuals based on predefined rules. For example, the system could route incoming invoices to accounts payable team members and move contracts to legal review teams. Automated notifications help teams complete tasks promptly.

Workflow automation also enables multiple document handling. Regardless of volume, automated systems can complete parallel processing to prevent backlogs, even during peak seasons.

Additionally, workflow automation offers real-time visibility into document status. Managers can identify and address process bottlenecks and set automatic escalation rules to ensure documents are handled in a timely manner. This capability minimizes delays caused by human oversight or absence.

Exploring OPEX®’s Automated Systems for Faster Document Handling

With OPEX, businesses can find automated document processing solutions to streamline workflows and reduce turnaround times.

• Document imaging: OPEX’s document imaging solutions streamline operations by digitizing paper documents and simplifying electronic storage and management. These systems create easier access and enhanced collaboration through secure and timely file sharing. Organizations using OPEX’s document imaging solutions have experienced an 80% decrease in labor needs, a 30% gain in efficiency, and more than $100,000 in cost savings. 
• Remittance processing: Businesses that process payments can rely on OPEX remittance processing solutions for improved customer experiences, reduced processing time, and less manual mail handling. These systems open and sort thousands of envelopes and checks each hour. OPEX’s advanced systems offer automatic capabilities for opening and scanning documents and adjusting scanning speed.
• Archive scanning: OPEX archive scanning allows businesses to improve searchability and manage records securely. OPEX scanners enable real-time editing, metadata creation, and customizable file formats to ensure accessibility and accuracy.

Improving Efficiency With Document Processing Automation

OPEX provides scalable, flexible, and versatile automated solutions to meet critical business needs. Teams looking to transition from manual to automated document processes can trust the experienced team at OPEX to deliver reliable solutions.

With decades of experience creating award-winning solutions, OPEX has the knowledge and technology to support your goals. Contact OPEX to explore advanced automation solutions.