Half of those adopting paper-free processes report a payback within 12-month time period
ABBYY, a leading provider of document recognition, data capture, and linguistic technologies, announced it has sponsored the recent AIIM report – Winning the Paper Wars. AIIM’s mission is to ensure that information professionals understand the current and future challenges of managing information assets in an era of social, mobile, cloud and Big Data. The report, which was generated from findings of a survey taken by the AIIM community from May 10 to June 26, found that spending on mobile capture, optical character recognition (OCR), business process management (BPM)/workflow and accounts payable/accounts receivable technologies is anticipated to increase sharply over the next 12 months.
The goal of the survey was to evaluate companies’ progress in going “paper free;” to measure the adoption of digital mailrooms; to chart the progress of mobile capture; and to show which processes are the most effective for paper-free environments. The final report measures specific improvement factors that can be used to build a business case for greater investment in the battle against paper and make recommendations on how to move a business forward.
The departments or areas within organizations that are most likely to be the focus of a document digitization and data capture drive are HR (expenses and employee on-boarding), Finance (Accounts Payable and Receivable) and any lines of business that deal with a heavy volume of forms, contracts or logistics documents. Finance and Contracts departments have demonstrated the most success with 70% of respondents qualifying the ROI as either “excellent” or “good”.
Another area of focus in the drive for operational efficiency is the point at which documents enter the organization. According to the survey, 52% of organizations have a mail delivery requirement of 4 hours or less. In order to respond to this need many enterprises are implementing a Digital Mailroom in order to automatically capture, classify and route documents through the business. Of the respondents whose organizations have a Digital Mailroom, 60% reported mail traceability and compliance improvements as the greatest benefit, followed closely by improved customer service and better quality of data capture into downstream processes.
“AIIM is an invaluable resource and their surveys help us understand the current state of the market,” said Jupp Stoepetie, CEO of ABBYY Europe. “The survey findings clearly show that organizations are recognizing the need to gain efficiencies by optimizing document-based processes. The business case, therefore, is stronger than ever for OCR, data and document capture solutions.”
ABBYY and its partners offer a wide array of automation solutions around key business processes such as invoice processing, digital mailroom and archiving. Customers come from a variety of sectors, such as finance, insurance, legal and government, rely on ABBYY products to help streamline their key processes with a fast return on their investment.
To download a free copy of the report please go to http://www.abbyyeu.com/uk/AIIM/winning-the-paper-wars/. To learn more about ABBYY solutions and technology platforms please go to: http://www.abbyy.com/solutions/?page=industry.