Top 7 Reasons Digital Transformation Will Fail without OCR Software
Information Technology marketing has whipped another name out of the bag; Digital Transformation. It is not a commonly used term, and the meaning varies depending on who is using it and for what they are using it for.
Information is beneficial to any organization, and this informs the need for careful management. In this century, the business has placed more attention on having the right information at your fingertips as much as possible. This would have meant tons and tons of papers years ago.
One can imagine the stress that they would be put through if they had to bring out a piece of vital information with almost no clue as to where it is. Digital transformation takes care of this. When you make your company work more digital, you leverage the advantages therein.
Many companies are gradually beginning to see that to be successful in these times, digital transformation is needed. Companies have also to understand how the digitalization process works so that they can make the best use of the information. If they do not, they risk being at the mercy of competitors who do understand the digital world better.
Many Digital Transformation processes are not maximizing their full potential, and this is due to several factors, some more than others.
One key technology that has been sidelined and in many cases is the reason for the suboptimal performance.
This is Optical Character Recognition (OCR).
OCR uses a feature that many users consider being important. Digitalization should first involve the conversion of documents to formats that can be processed and accessed.
- 1 Let us Review Some of the Reasons why Digital Transformation will ultimately fail without OCR Software.
- 1.1 It Improves Customer Experience
- 1.2 It makes Robotic Process Automation (RPA) easier
- 1.3 It is of Crucial Significance in Data Analytics
- 1.4 It improves Innovation
- 1.5 It helps in the identification of Regulatory Risks
- 1.6 It enables you to make sense of Data
- 1.7 OCR helps you place useful information on the Digital Space
Let us Review Some of the Reasons why Digital Transformation will ultimately fail without OCR Software.
It Improves Customer Experience
OCR is used in storing customer data which was probably obtained by form filling in a branch of a company or via a phone call.
It is possible that some of the information may have been omitted during the digital transformation process.
OCR ensures that the possibility of an event as this is reduced.
This ensures that any employee who needs to attend to a client has all the required information and can do the job correctly.
This educational video from Steve Jobs will teach you important notes about customer experience.
It makes Robotic Process Automation (RPA) easier
RPA is an underutilized potential of digital transformation. It involves the use of software to perform tasks in place of humans.
It is useful for rule-based processes.
The inclusion of RPA will help businesses save time and channel manpower to efforts of higher value to the market. The success of this is hinged on the possession of clean and machine-readable documents.
These documents can only be made using OCR. This only further points to the importance of OCR in digital transformation.
You may find this video on to the point about RPA.
It is of Crucial Significance in Data Analytics
One of the most potent resources of corporate value to a company is the data. Actual data which shows trends, patterns and insight into client behavior are beneficial and vital.
This information helps the employees to make well-informed decisions.
The more the data, the more useful it is.
However, the difficulty in manual processing of information becomes more and more pronounced when broad Data is involved.
The volume of data makes them have more statistical power. This useful information may be locked in loads of papers preventing timely access to information. These data can be converted with OCR to a readable format.
It improves Innovation
Valuable information can be buried beneath so much paper that businesses would have to spend so much money in research to lay hold of them again.
This information may be useful in bringing timely changes to the market. Data can be exploited to understand customer needs and find new frontiers to break in terms of satisfying customer needs.
Digital transformation will make things a lot easier. OCR can be used to convert the documents to machine-readable ones that encourage in-file searching.
It helps in the identification of Regulatory Risks
Digitalizing information has its advantages, but it also puts the data at risk as it can be lost if conservative measures are not taken.
A typical example is computer theft.
Some regulations have been put in place to protect against this. These regulations require companies to understand the different protective measures available and take adequate steps.
If the company defaults, they might have to pay fines or even suffer brand damage. There is a need to illuminate dark data using OCR.
It enables you to make sense of Data
Not all data has been packaged in the present form, and this often makes it difficult to make decisions looking at them. OCR enables us to create cross-references between client records and new development.
The data must be structured, and this requires the use of complex analysis and identification which OCR provides.
OCR helps you place useful information on the Digital Space
With efficient hardware and software, OCR enables its users to convert information held on paper into softcopies that can be stored and shared safely.
The readability and more straightforward access to information that this provides cannot be overemphasized.
Even though some people advocate that OCR is not important for digital transformation, for the reasons already stated, it is wise to think otherwise.
OCR is indictable in the suboptimal performance of digital transformation attempts by businesses.