by Kevin Craine, Craine Group
First developed over 30 years ago, capture systems have evolved from simple solutions for basic scanning into sophisticated and expensive systems for enterprise wide document automation. This paper explores capture systems in five categories—the Five Phases of Capture—and describes the features and benefits of each. Every phase along the continuum can bring value to an organization based on its document strategy.
The volume of documents and unstructured data is growing by over 30% per year, and organizations in industries like healthcare, banking, insurance, and the public sector are struggling to reconcile the worlds of digital and physical data. Aberdeen’s research shows that electronic document management solutions offer essential support for fast, low-cost document processing, and overall data visibility.
Digital document management systems (DMS) have progressed from scan and archive to full-featured solutions enabling document-driven business process automation. DMS have reduced business’ reliance on paper, delivering financial and efficiency benefits ranging from hard and soft dollar cost savings to better, more efficient processes, and faster customer service. Each year, as technology costs drop, the potential return on investment (ROI) in electronic document management increases.
Paper invoices and manual processing continue to hamper accounts payable operations, keeping suppliers in the dark and failing to give finance the visibility it needs to actively manage the organizations’ cash positions. This study profiles 130 enterprises to identify what differentiates those achieving the greatest results. The objective is to drive savings through discount capture, penalty avoidance, and lower labor costs, while improving the speed with which they can access payables-related information.